Buy Bitcoin Cash with bank transfer 2020 - Here's how

Bitcoin Cash Transfer 2020: Buy Bitcoin Cash with bank transfer? How to pay BCC Transfer now.
After its spin-off from Bitcoin on August 1, 2017,

Bitcoin Cash has become the third-strongest cryptocurrency. The new coin is based on the technology of bitcoins, but was further developed in order to be more usable in practice and the use of cryptocurrencies in everyday life

Buy Bitcoin Cash with bank transfer is possible online on numerous platforms. Often, a deposit to the customer account is required to use the credit for the purchase of Bitcoin Cash or other cryptocurrencies. Some exchange platforms also allow you to buy BCC with bank transfer directly from a provider. As soon as the customer confirms receipt of the money, the coins are released by the platform or sent directly to the buyer's wallet.

We have them key facts about buying Bitcoin Cash and paying by bank transfer. In the following article we show how you can buy and use Bitcoin Cash safely and inexpensively.

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Buy BCC with bank transfer: Die Advantages and disadvantages

Payment by bank transfer is not only widespread when buying Bitcoin Cash or other cryptocurrencies. We have listed the advantages and disadvantages of these methods in the following overview:

Pro:

  • The money is debited directly from the bank account.
  • No additional account has to be opened with another payment service provider.
  • The money can be transferred online or directly to the bank.

Contra:

  • A bank transfer may take several days.
  • The coins purchased are not immediately available.
  • The coins may have to be bought at a different rate than when they were sent the transfer.
  • The account details are visible to the recipient.

How Bitcoin Cash works with bank transfer

Buy BCC with bank transfer is possible with many providers. We show you how you can pay by bank transfer at crypto exchanges, online marketplaces and brokers.

Crypto exchanges:

Crypto exchanges offer Bitcoin Cash and other cryptocurrencies for purchase. There are essentially two different ways of paying by bank transfer. The first variant requires registration. Credit can then be deposited into the customer account by bank transfer or using other methods. This credit is used to buy the cryptocurrencies offered by the exchange. This has the advantage that the coins can be credited immediately and does not have to be waited until the money transferred has reached the seller, as this has already been paid into the account beforehand. On the other hand, of course, this type of payment has the disadvantage that the money has to be transferred in advance. To do this, users must trust the company. It is therefore particularly important to pay attention to whether the provider is reputable.

Some crypto exchanges also offer a second variant with which Bitcoin Cash can be bought online with a bank transfer. Here you only pay when the coin is actually supposed to be bought. However, this has the disadvantage that the customer usually receives Bitcoin Cash at the rate that is current when the money is received. As a result of the volatile price trends, it can happen that significantly fewer coins are credited than planned by the customer.

Online marketplaces:

The exchange exchanges for cryptocurrencies will Trading price is not set by the platform, but the users put their coins for sale themselves or create offers for which amount they want to buy a certain amount of Bitcoin Cash. The other users can then react to these offers and carry out the exchange.

BCC is also often possible with online bank transfers by bank transfer. There are also different payment conditions depending on the provider. On some platforms, just like a crypto exchange, a customer account can be opened, into which users can deposit money in advance by bank transfer, in order to then use it to buy BCC or other cryptocurrencies. The credit is automatically credited to the seller after the purchase, while the buyer receives the agreed amount of coins on his account and can either trade them again or transfer them to his wallet.

On some other platforms, trading takes place against it directly from user to user. After the purchase has been confirmed, the transfer must be made. As soon as the seller confirms receipt of the money, the cryptographic keys for the coins are sent directly to the buyer's wallet.

Online broker:

For CFD brokers strictly speaking, no coins are acquired. Instead, customers invest in so-called difference contracts. These can be closed at any time at the current trading price, which means that the difference between the entry price and exit price is booked as a profit or loss depending on the course.

With most CFD brokers, deposits can also be made by bank transfer. In principle, the contracts for difference are not paid for directly with the transfer, but the customer capitalizes his trading account with the money and can then use it to finance the margin for trading.

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How to buy Bitcoin for Beginners

What are the fees for bank transfer purchases?

Most banks make transfers free of charge. But there are also banks that require a fee for a transfer for certain account variants. In this regard, customers must inform themselves at their bank.

Even if the bank does not charge a fee, this does not mean that buying BCC with a bank transfer is always free. Here it depends on the trading platform whether in addition to the actual trading fee there is an additional fee for payment by bank transfer.

At Online brokers are often free of charge, but for legal reasons must usually be paid out again using the same method, whereby a fee may be charged may arise. Therefore, when comparing the providers, not only the deposit fees, but also the withdrawal fees should be considered.

Even with some crypto exchanges and exchange platforms, are free payments possible by bank transfer. When trading on exchanges where the money is transferred directly to the seller, buying Bitcoin Cash with a bank transfer is generally possible without an additional payment fee. With the other providers, however, customers should inform themselves in advance whether additional costs are incurred when paying by bank transfer .

A comparison of the providers saves cash Money

The companies through which customers can trade cryptocurrencies differ in part significantly in the design of their prices. In order to be able to compare effectively, it is first of all important to recognize the components that make up the trading costs.

Trading fees:

A fee is usually charged each time you buy or sell Bitcoin Cash. For many platforms, this is again staggered according to the trading volume, so that customers who trade a lot and with large amounts often get better conditions. On some exchanges, trading without a trading fee is also possible if the user places a trading offer on the marketplace and thus ensures liquidity on the platform.

Costs for deposits and withdrawals:

With many providers, when buying Bitcoin Cash with bank transfer, money must first be paid into the customer account. This may involve a fee. But even if the deposit does not cost anything, it does not necessarily mean that you can really trade for free. Especially with CFD brokers, but also with some other trading platforms, it is common that no fees are charged when depositing, but that costs are incurred when paying out. So if you want to exchange your coins for euros or another currency at some point, you should also deal with the payment fees right at the start.

Trading rate:

Submit them on exchange platforms User offers themselves. A trade is made here if there is a participant who accepts this offer. Crypto exchanges and CFD brokers, on the other hand, either design their own prices or they result from supply and demand. A comparison is also worthwhile here, because the course is never the same on all platforms. With some providers, there is a clear difference between the purchase and sales price for hidden fees, which should also be considered when looking for a suitable trading venue.

Other fees:

In addition to the fees described above, there may also be other costs, such as opening an account or keeping an account. However, this is only the case with very few providers. Registration is usually free and users only pay fees if they actually buy or sell cryptocurrencies.

Some providers charge a so-called inactivity fee if a trading account is not used for several months. This is usually deducted directly from the account balance. However, this only takes place if there is a corresponding credit on the account.

Overview of other payment methods

The transfer is a widely used payment method has the disadvantage, however, that the banks need processing time and the deposited credit is only available for buying coins after one or several days.

At For many vendors, buying Bitcoin Cash online with wire transfer is not the only option. Here you can also pay with various other methods n, in which the coins for the most part can be credited immediately. We have listed below some of the most common payment methods. Please note that these are not offered on every platform. It is important to find out in advance how the purchased cryptocurrencies can be paid.

Sofortüberweisung:

The payment company Sofort GmbH enables users to receive their coins directly without waiting for the recipient's bank to credit them. To do this, users must enter their account number and online pin and it is checked whether the account has the necessary funds to be able to carry out the transfer. The seller immediately receives a confirmation that the transfer is being carried out and in return can send the cryptographic keys for the purchased coins to the buyer's wallet.

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Giropay:

This payment method also works via the customer's online banking. With Giropay it is also possible to pay with the regular current account and receive a corresponding credit from Bitcoin Cash.

Bitcoin:

With many crypto exchanges and online marketplaces, deposits can be made via Bitcoin. This is quick and is usually free of charge or only at low cost. Even with more and more online brokers, the trading account can now be capitalized with Bitcoin.

E-Wallets:

Customers can quickly and easily through various online payment service providers Deposit crypto platforms. Frequently offered payment methods are for example Neteller or Skrill. It is also possible to pay immediately via PayPal without providing your personal account details, although PayPal has so far only been offered by a few platforms.

There are no account management fees for any of the three e-wallets mentioned. Whether costs for payment with these methods are incurred depends on the platform to which the money is transferred.

Paysafecard:

The prepaid card can be used throughout Germany almost all petrol stations and also in many retail stores or online. A 16-digit code must be entered when paying with the Paysafecard. It is not necessary to use all the credit on the card. It is also possible to split the total credit into partial amounts.

Buying Bitcoin Cash with Paysafecard has so far only been possible with a few providers. Here, too, it is worth taking a look at the fees, because while payment is free on some platforms, other providers charge up to 20%.

The most important information in the summary

Buying Bitcoin Cash with bank transfer has the disadvantage that the payment does not reach the seller immediately, but one or even several days takes until is credited. Therefore, the buyer only receives the coins when the payment has been received. On many platforms, can be paid into the customer account before the purchase, so that the transaction can then be carried out directly with this credit. This has the advantage for customers that they acquire Bitcoin Cash at the current rate.

Some platforms only offer payment by Bitcoin, Here, Bitcoin must be purchased in advance from another provider in order to use it for the exchange for Bitcoin Cash.

In addition to the bank transfer, there are numerous other payment methods, Which of these are available for the purchase of Bitcoin Cash depends on the website, through which the trading takes place.

Regarding the fees, it is worth it compare individual providers exactly to, because here there are some significant differences. For a comprehensive and clear comparison, the reviews on our website help.

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