How You Can Buy Bitcoin Cash in the UK
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Bitcoin Cash (BCH) is a fork from the Bitcoin blockchain that was created as a result of a so-called hard fork on 1 August 2017. The cryptocurrency achieved widespread use immediately after the hard fork.
This was because every Bitcoin owner was instantly entitled to as much Bitcoin Cash as they owned Bitcoin. The background to the split was a dispute in the Bitcoin community concerning the size of the blocks. Bitcoin had become old, investors wanted returns.
Buy Bitcoin Cash: What should you look out for to buy Bitcoin Cash cheaply & safely?
Here's what you should look out for if you want to buy Bitcoin Cash, so that nothing goes wrong:
Where to buy cheap Bitcoin Cash? Our broker and exchange comparison - buy Bitcoin Cash with the lowest fees:
1.Trade real cryptos and crypto CFDs
1. fully regulated broker
1. user-friendly platform
1. many tradable assets
1. huge selection of coins
The best options are listed below. Whether BCH can be bought directly or indirectly depends on the respective platform. Click on one of the providers if you want to get more information about the platform.
Should you buy Bitcoin Cash or not? Our reasons for buying!
Before you invest in an altcoin, you should inform yourself well. Experienced investors pay attention to a variety of indicators: How resilient is the whitepaper of a coin? How convincing is the business model? Is it an inflationary or deflationary currency?
Do the developers have enough experience to run a business? What partners does a currency have and how relevant are these partners from the point of view of the stated business model? Is the currency often in the news and if so, in what context?
These are all questions that can help you determine whether an investment is worthwhile or not.
With regard to Bitcoin Cash, the current news and hard forks are particularly important. The spin-off of Bitcoin SV and Bitcoin ABC may have done lasting damage to Bitcoin Cash. Because the hard fork happened only a relatively short time ago at the time of writing, it is still too early to make a final assessment.
History of Bitcoin Cash
Since Bitcoin blocks are only 1 megabyte in size, Bitcoin has a scaling problem. No wonder: bitcoin is a whopping 10 years old.
It already runs out of steam at 15 transactions per second; many more are requested all the time. And so the result is congestion. Transactions are executed more slowly and at higher costs.
At the urging of many investors like Roger Keith Ver, Bitcoin Cash was born: BCH changed the block size first to 8 megabytes, and then even to 32.
Use as a means of paymentBitcoin Cash, like Bitcoin, is a pure means of payment and as such must prove itself in the long term against a number of strong competitors, especially Bitcoin. But not least against Bitcoin SV and Bitcoin ABC.
Buy or Sell Bitcoin Cash? Our pros & cons analysis:
Comparison of fees when buying Bitcoin Cash:
To compare fees when buying Bitcoin Cash, let's take this example:
1. We buy €1,000 worth of Bitcoin Cash.
2. We want to hold Bitcoin Cash for one month and then sell it again.
3. We assume that the exchange rate does not change in the 30 days
This is how the fees are at the biggest crypto exchanges and brokers:
free of charge
free of charge
free of charge
free of charge
Bitcoin Cash Price: Important Moments in the Bitcoin Cash Price History
We show the most important moments in the past of the Bitcoin Cash Coin:
Trade Bitcoin Cash with or without a wallet?
As a general rule, a wallet is always the safest place to keep your investments. If your coins and tokens are stored on an exchange instead, you may lose access to them - for example, if the exchange unexpectedly goes bankrupt.
Using a wallet is not necessarily more complicated than using the usual exchange platforms. A wallet is therefore recommended in any case. However, the use of a wallet is not mandatory for trading with Bitcoin Cash.
If you are not afraid, you can simply hold your BCH on the account of one of your crypto exchanges, provided that the exchange supports this. This is possible with Coinbase, for example.
Most wallets are not only available for Windows, but also for Android and iOS. The particularly secure hardware wallets from TREZOR and Ledger can be a good addition to increase your security.
Buying BCH: The bottom line
Bitcoin Cash is the result of a dispute in the Bitcoin community. By splitting off from the Bitcoin network, Bitcoin Cash was created in a hard fork in 2017. Since then, the Bitcoin Cash community has not been able to rest.
Only recently, there was another hard fork, as a result of which Bitcoin Cash lost considerable value and the cryptocurrencies Bitcoin SV and Bitcoin ABC were created. Bitcoin Cash has to hold its own against a large number of strong competitors. An investment in Bitcoin Cash is undoubtedly worth considering for investors who are willing to take risks.
Our recommendation: Buy cryptos with eToro
- Incl. wallet
- Buy and sell cryptocurrencies directly in the wallet
- Paypal, credit card and instant bank transfer
- Regulated provider
- Real cryptos or CFD trades
Basically, one can distinguish between two forms of investment in altcoins: Speculating on prices via CFD brokers or buying a coin directly via a crypto exchange such as Coinbase. CFD trading is available for Bitcoin Cash at the brokers mentioned in the article. You can also buy Bitcoin Cash with a credit card or SEPA transfer on Coinbase, buy Bitcoin Cash with a credit card at CEX, or buy Bitcoin Cash with a credit card at LiteBit.eu.
Unfortunately, buying Bitcoin Cash with PayPal is rarely possible.
You can buy Bitcoin Cash and other altcoins with a credit card on CEX and Coinbase. If you only want to trade indirectly, you can also use your credit card to get started with our test winner.
As a rule, crypto exchanges do not offer the payment option Paypal. One exception is the CFD broker eToro. Bitcoin Cash trading with eToro is possible. We are not aware of any crypto exchange that accepts Paypal as a means of payment for Bitcoin Cash.
Kryptoszene.de recommends the current test winner for Bitcoin Cash purchases, as Bitcoin Cash trading is particularly easy and secure.
Options brokers only use cryptocurrencies as assets, while exchanges enable direct trading of the values.
So anyone who actually wants to buy altcoins will have to go via a crypto exchange.
We don't know: Can Bitcoin Cash hold its own against its strong competitors? What long-term effects will the big dispute in the Bitcoin Cash community have on the currency? The latter question in particular needs to be clarified before we can say what the future holds for Bitcoin Cash on the exchanges. We recommend that you keep yourself regularly informed about this if you want to buy Bitcoin Cash.
Current chart analyses on Bitcoin Cash are published here on Kryptoszene.de at regular intervals.
Not necessarily. If you buy Bitcoin Cash on Coinbase, for example, you can also hold it there. However, we recommend using a wallet for your security, preferably a hardware wallet from Ledger or Trezor, for example. No wallet is necessary for indirect trading
Bitcoin Cash is not built on ERC-20 and therefore cannot be held in your Ether wallet.