Buy Bitcoin Cash Investor Knowledge 2020 - BCC

Bitcoin Cash Investor Knowledge 2020: Buy BCC in Germany? What investors should consider when buying Bitcoin Cash

Since Bitcoin Cash has been on the market, more and more investors have been investing in the new cryptocurrency. Bitcoin Cash can also be purchased from Germany. Users can either use platforms from abroad, but they can also buy BCC in Germany, or from German providers.

We will show below Guide, what needs to be considered when buying Bitcoin Cash in Germany, what possibilities there are and how investors can find a suitable provider.

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Why it might be worth investing in Bitcoin Cash

Bitcoin Cash has only been available since August 1, 2017, but it is already about the cryptocurrency with the third largest market capitalization. At times, BCC was even in front of Ethereum in second place.

The new cryptocurrency was split off from the Bitcoin blockchain to enable faster and cheaper transactions and the growing interest of people in To meet cryptocurrencies as a means of payment. If the demand for Bitcoin Cash continues to increase, the Bitcoin Cash will also increase significantly in value, because the possibility of creating more coins through Mining limited. Just like Bitcoin, the maximum number of coins in Bitcoin Cash is set at 21 million, so inflation due to excessive new coins is excluded.

No one can say whether Bitcoin Cash is still available today actually at some point, like the fiat currencies issued and regulated by banks, the potential has the cryptocurrency.

That is why BCC buying in Germany, just like in numerous other countries around the world, is in great demand among investors today. Before making a purchase, users should always consider that it is a speculative risk investment. Which cryptocurrency ultimately prevails and which loses importance depends on the interest and trust of users. However, it is currently evident that many people are positive about the establishment of an independent, tamper-proof and decentrally managed payment system.

Crypto exchanges: Bitcoin Cash for Euro, US Trade dollars or Bitcoin

If you pay with Bitcoin Cash or want to benefit from a positive exchange rate development of the cryptocurrency, you first have to purchase coins. But how can you buy Bitcoin Cash in Germany?

The so-called crypto exchanges on the Internet offer a good opportunity here. Here users can buy or sell Bitcoin Cash at a price set by the operator of the platform . For this he receives a fee, which depending on the provider can be very different. Therefore, it is worthwhile to compare different crypto exchanges and possibly save money when buying Bitcoin Cash.

The conditions The individual crypto exchanges are very different: for some, a short registration with the email address and a few other details is sufficient for trading, for others a full registration is and verification required. In any case, a Bitcoin Cash Wallet is required, to which the purchased coins can be transferred. With many crypto exchanges, trading takes place in connection with a previous deposit via the balance available on the account, but cryptocurrencies should generally be stored on their own wallet in the long term because they are the safest here.

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Bitcoin Cash marketplaces: supply and demand determine the price

online -Marketplaces the price for the purchase and sale of Bitcoin Cash and other cryptocurrencies is not specified by the provider, but the users themselves offer to which other participants can then react. As a rule, the most attractive trade offers are clearly listed on the trade page and can also be filtered according to various criteria. Interested users can find a suitable offer and buy the coins directly from the previous owner. In addition, it is of course also possible to put your own offers. On many platforms, this is even rewarded by lower fees or completely free trade, since the users ensure liquidity through the offer.

Also the marketplaces for cryptocurrencies are for the most part not regulated, which is why it is advisable to take a close look at the seriousness of the provider in advance. Here too, our reviews offer assistance, because we always question the trustworthiness of the platform and include the experiences of other customers.

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Buy private BCC in Germany: Trade directly from user to user

Those who are not online when buying Bitcoin Cash - If you want to leave the provider, you can also buy the cryptocurrency directly from other users. However, a personal meeting should take place because transactions with Bitcoin Cash cannot be undone. In many cases, when buying Bitcoin Cash in Germany, takes place directly on-site with cash.

Due to the increasing demand for cryptocurrencies, the chances are also growing Place to find a suitable trading partner who sells Bitcoin Cash for euros. For these purposes too, there are platforms on the Internet that bring together suitable exchange partners. The conditions can then be discussed in the chat before a meeting takes place.

Another option, a suitable partner for the private purchase of Bitcoin To find cash are local meetings of the crypto community. Not only are interesting aspects of the topic of "cryptocurrencies" discussed, but there are often opportunities for trading with the coins.

A clear advantage of direct trading is that there is no third party involved, such as a crypto exchange or an online platform, and therefore there are no additional fees. However, if you want to trade regularly with Bitcoin Cash, you usually do this on the Internet, as it is significantly less and transactions within seconds can be carried out.

CFD-Trading: Speculating on the course of the price easily and inexpensively

Another possibility to trade Bitcoin Cash are CFDs. The coins are not acquired directly, but speculation is made on the course with a contract for difference. Therefore, no Bitcoin cash wallet is required for trading and there are no high fees. On the other hand, however, the customer does not have the option of using his credit for other transactions with Bitcoin Cash, but can only close his position at the current trading price if necessary. Therefore, if you want to buy BCC to use the cryptocurrency for real payments, you have to look for another option.

To trade CFDs is registration with a corresponding broker is required. Here, not only CFDs on Bitcoin Cash, but also on numerous other underlyings can be traded. These include other cryptocurrencies, fiat currencies, stocks and commodities.

When trading via CFDs, many brokers offer customers leverage, with which they more credit can trade when they actually deposited. This multiplies the effects of the course change, which of course makes higher profits possible, but also increases the risk of loss. It is therefore recommended for beginners to initially only trade with a low lever or completely un leveraged. Many CFD brokers also offer free demo accounts, with which interested potential customers can familiarize themselves with trading without full registration.

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Certificates: Trade Bitcoin Cash indirectly on the stock exchange

For Bitcoin certificates are already offered, which are directly can be bought on the stock exchange. Similar to the CFD, no Bitcoin Cash is acquired, instead there is participation in the course development of the coin. Therefore, no other transactions with the cryptocurrency can be carried out when trading certificates , but no wallet is required. It only seems to be a matter of time before it is also possible to buy BCC in Germany with a certificate. This option is particularly interesting for users who do not want to use the cryptocurrency physically for payments and who already have a share account. The corresponding certificate can be purchased directly from the depot and no registration with another provider is required.

The legal situation: When do investors have to pay tax on Bitcoin Cash?

Cryptocurrencies are not considered legal tender in Germany, but rather so-called units of account. Therefore, similar legal provisions apply when buying Bitcoin Cash in Germany as when trading with foreign exchange. Trading in Bitcoin Cash is therefore to be classified as private sale business or speculative business.

Whether customers who buy BCC in Germany have to pay tax on cryptocurrency mainly depends on it, how long the cryptocurrency is held. If the coin has been in the possession of the user for more than a year, no taxes on the profit have to be paid on sale. However, if you only hold your crypto money for a shorter period and then sell it again at a profit, you must pay tax on this profit. Here, a exemption limit of € 600 per year applies to private sales transactions. If the profit remains below this amount, no taxes have to be paid to the tax office even with a shorter holding period . However, if the exemption limit is exceeded, the complete income must be taxed. For the calculation of the exemption limit, not only the income from trading in Bitcoin Cash counts, but also all other sales transactions. These can be other cryptocurrencies, but also, for example, the sale of antiques.

When regularly buying Bitcoin Cash, the principle should therefore be "First in, first out ": The first bought coins are also the first to be sold again. It is advisable to document all transactions exactly in order to be able to offer the appropriate evidence to the tax office. If anything is unclear, a tax advisor should be consulted.

Security: You should pay attention to this when trading with BCC.

Trading in cryptocurrencies will be only partially regulates, which is why it is all the more important to pay attention to security when buying and selling Bitcoin Cash. Before you register with a provider , you should find out in detail what security regulations apply to them, how you are legally protected in the event of problems should and what experiences other users have had with this provider.

Trading with CFDs or certificates is now<131 for almost all brokers>regulated. A supervisory authority sets standards here, compliance with which it regularly checks. However, indirect trading with Bitcoin Cash has the disadvantage that the cryptocurrency can only be used for trading purposes and is not available for direct transactions. However, when actual crypto-coins are purchased, there is often no regulation. Therefore, the capital should always be managed on your own wallet. A deposit at an online marketplace or a crypto exchange should only be made to actually use the deposited credit for trading. The coins can then be paid out again and stored on your own wallet.

Once transactions have been carried out, even when buying Bitcoin Cash in Germany can no longer be reversed are. Therefore, users must pay close attention to whom they send Bitcoin Cash to and ensure that the corresponding consideration is also provided.

The private key for the wallet should be well protected and must not be forgotten or lost, otherwise there is no longer able to access the wallet. Bitcoin Cash can be managed even more securely on so-called paper wallets. The cryptographic key is kept offline so that hackers cannot gain access.

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Buy Bitcoin Cash in Germany: Our conclusion

Our guide shows that it is also possible in in Germany to buy Bitcoin Cash in or speculate indirectly on the cryptocurrency. Since it cannot be predicted how Bitcoin Cash will develop in the next months and years , only money should be invested in the cryptocurrency also is not needed in the long term. The price development of cryptocurrencies is typically very volatile, which in addition to a high return potential also entails a corresponding risk of loss. Nevertheless, numerous investors see Bitcoin Cash as having a similar potential as Bitcoin, from which Bitcoin Cash was spun off in 2017. This has multiplied its original value in the meantime and has made numerous Bitcoin owners rich, who acquired the cryptocurrency at an early price. At times, the Bitcoin trading price was 20,000 euros per coin. A value that could one day be achieved by Bitcoin Cash to make money with this cryptocurrency.

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