How to Buy Bitcoin Cash: Step-by-Step Guide for Beginners (2023)

What Is Bitcoin Cash?

Bitcoin Cash (BCH) is a cryptocurrency created in 2017 through a hard fork from Bitcoin (BTC). Designed to improve scalability, it features larger block sizes (up to 32MB) enabling faster transactions and lower fees—often under $0.01. Unlike Bitcoin’s focus on being “digital gold,” BCH prioritizes everyday usability as electronic cash for payments and remittances.

Why Buy Bitcoin Cash?

Investors and users choose Bitcoin Cash for several key advantages:

• Low Fees: Transactions cost pennies versus Bitcoin’s higher fees during congestion.
• Speed: 2-minute block times enable near-instant payments.
• Scalability: Handles 100+ transactions per second vs. Bitcoin’s 7.
• Adoption: Accepted by 1,000+ merchants globally, including Namecheap and BitPay.
• Investment Potential: Historically mirrors Bitcoin’s bull cycles with higher volatility.

How to Buy Bitcoin Cash: Step-by-Step Guide

1. Choose a Cryptocurrency Exchange
   Select platforms like Coinbase, Binance, or Kraken. Verify they support BCH in your region.
2. Create and Verify Your Account
   Sign up with email/phone, complete KYC checks (ID/passport verification), and enable 2FA security.
3. Deposit Funds
   Add fiat currency via bank transfer, credit card, or deposit existing crypto (e.g., BTC/ETH).
4. Buy Bitcoin Cash
   Navigate to the BCH trading pair (e.g., BCH/USD), enter your purchase amount, and execute a market or limit order.
5. Withdraw to a Secure Wallet
   Transfer BCH from the exchange to a private wallet (hardware or software) for safekeeping.

Where to Buy Bitcoin Cash?

Top platforms for purchasing BCH include:

• Coinbase: Best for beginners (user-friendly interface)
• Binance: Lowest fees (0.1% spot trading)
• Kraken: Advanced trading tools
• Crypto.com: Instant card purchases
• LocalBitcoins Cash: Peer-to-peer (P2P) transactions

Storing Your Bitcoin Cash Securely

Never leave BCH on exchanges long-term. Use these wallets:

• Hardware Wallets: Ledger Nano X/S (most secure)
• Mobile Wallets: Bitcoin.com Wallet, Exodus
• Desktop Wallets: Electron Cash
• Paper Wallets: Offline cold storage (for experts)

Always back up recovery phrases and enable encryption.

Frequently Asked Questions (FAQ)

Is Bitcoin Cash the same as Bitcoin?

No. Bitcoin Cash (BCH) split from Bitcoin (BTC) in 2017 to prioritize faster transactions and lower fees through larger blocks. They share transaction history but operate on separate networks.

Can I buy Bitcoin Cash with PayPal?

Yes. Platforms like eToro and Paxful support PayPal purchases, though fees are typically higher (3-5%). Bank transfers remain the cheapest method.

What’s the minimum amount of Bitcoin Cash I can buy?

Most exchanges allow purchases as small as $5-$10 worth of BCH (≈0.001 BCH). Fractional buying makes it accessible.

How long do Bitcoin Cash transactions take?

Confirmations average 10 minutes per block. For small payments, merchants often accept 0-confirmation transactions (near-instant).

Is Bitcoin Cash a good investment?

BCH offers high-growth potential but remains volatile. It’s suitable for: 1) Short-term traders, 2) Long-term believers in its payment utility, and 3) Portfolio diversification. Never invest more than you can afford to lose.

Can I earn interest on Bitcoin Cash?

Yes. Platforms like Celsius and Crypto.com offer up to 3% APY for BCH deposits. Research risks before lending crypto.