Bitcoin Cash (BCH) is a cryptocurrency created in 2017 as a result of the fork of the first Bitcoin blockchain. It was created to deal with Bitcoin scalability problems, which are done by increasing the block size, hence allowing faster transactions. So, if you want to start using the BCH network, you need to learn how to buy Bitcoin cash. We have prepared a guide for you to follow, adding some methods and valuable tips to achieve a smooth purchase.
How to Buy Bitcoin Cash on a Reliable Cryptocurrency Exchange Platform
As mentioned before, there are several ways to buy Bitcoin Cash, but one of the most secure and user-friendly ways is to buy it through a famous P2P cryptocurrency exchange platform. This is where Cryptomus comes in. Known for being reliable and trustworthy, it also provides multiple ways in which you can learn how to buy Bitcoin Cash: through P2P trading or by using its Receive feature in your personal account.
Steps to Take in Order to Buy Bitcoin Cash on Cryptomus
The process to buy Bitcoin Cash on Cryptomus is really easy. First, you’re expected to:
- Get a Free Wallet: First things first, you need a place to stash your Bitcoin Cash securely. Cryptomus offers you a wallet app to manage BCH holdings. You can access it through its web interface or download the wallet app.
- Register on Cryptomus and Set Account: Visit the Cryptomus website and set up a free account. Usually, this process involves an email address, password creation, as well as completing additional verification procedures as per the platform stipulations.
- Go to Crypto Section: It will display all the available cryptocurrencies. Click on Bitcoin Cash (BCH) from the options.
- Enter Purchase Amount and Mode of Payment: Enter the amount of Bitcoin you wish to purchase. Cryptomus has various forms of payment, so select the one that best works for you. It could either be a credit card, debit card, or bank transfer, among others, depending on what your location allows for.
- Confirm the Purchase and Make Payment: Re-check all the purchase details, such as the amount of BCH, the mode of purchase, and its attendant fees. If all is well, proceed to make payments. This process may be slightly different, as Cryptomus now gives you directions on how to pay depending on whatever mode of payment you have settled on.
- Get Your Bitcoin Cash: The minute you complete a payment, your Cryptomus wallet will be credited with your Bitcoin Cash. From here, you have the option to leave it in the wallet or send it to another wallet for safekeeping or the purpose of transacting with it.
More Buying Tips for Bitcoin Cash
Compare Cryptocurrency Exchanges: Cryptomus is great, but there’s no harm in shopping and comparing cryptocurrency exchanges. The things you can compare are the types of payment methods the exchanges accept for payment, the fees the purchase attracts, its security features, and, of course, user reviews.
- Understand Fees: Most of these platforms charge a fee for the transactions you do with the purchase and sale of cryptocurrencies. The amount varies across platforms and across different forms of payment. Find out all the information so you can best make a purchase.
- Start Small: If you have just stepped into the world of cryptocurrencies, it is better to take small steps in your first coin cash purchase. That way, you will learn your way around the buying process and avoid some of the risks related to varying values.
- Secure Handling: After you have made a collection for your cash, you should then prioritize storage of the same. Think of a good hardware wallet for offline storage, or a good software wallet with good password protection.
- Educate Yourself: The market for cryptocurrencies is very dynamic. However, you ought to educate yourself about the latest news and trends to make proper and well-reasoned investment decisions.
Use Alternatives to Cryptomus: Cryptomus is among the ways to buy Bitcoin Cash most easily and safely. However, the following alternatives exist:
- P2P Marketplaces: P2P marketplaces connect buyers and sellers directly, thus allowing you to buy Bitcoin from other individuals. Optimal rates will be offered at the best prices, but you will get in at a higher risk compared to centralized exchanges.
- Bitcoin ATMs: This is an automated machine that allows you to buy Bitcoin for cash. As a rule, though, the fees on Bitcoin ATMs are higher than other means of purchase.
- Brokers: Some online brokers now offer cryptocurrency trading, including trading in Bitcoin Cash. This can be a very convenient option in case you already have an account with the broker.
Conclusion
These tips, along with a reliable platform like Cryptomus. It can help you purchase your BCH and access the hugely growing digital asset market. Just be sure to do your own research to understand. The risks involved in the process, and keep your BCH holdings secure.
