Where to Buy Bitcoin Cash?
For people who are quite familiar with bitcoin cash, this article is a guide on how you can go about buying. For those who are not familiar, this may sound a bit confusing as the crypto we are most familiar with is bitcoin. You might be wondering where the additional cash behind this bitcoin came from. Not to worry, bitcoin cash is also a type of cryptocurrency and you are right, it came into existence late 2017 after there was a split in the bitcoin blockchain.
Whether it is riding on the back of the popular cryptocurrency through its name, we have no idea but the bitcoin cash is fast growing and is becoming a viable source for investment and fast returns. In the world where digital currencies are poised for a takeover, investing in the bitcoin cash might be a wise choice.
Steps on how to buy bitcoin cash
Now that you have decided to invest, this is a beginner’s guide that aims to help with your first purchase of this cryptocurrency. The process is arranged from start to stop and it is as follows:
Get a bitcoin cash wallet
Just like it is with the other cryptocurrencies, before you can get to the nitty-gritty, this is the starting point. Your bitcoin cash would need a place to stay after it has been bought so you need a wallet to house it. There are now platforms that support BHC wallets and there are also hardware wallets that support bitcoin cash like Ledger and Trezor.
Get an exchange platform
mulanya, there were just limited exchange platforms that offered services for bitcoin cash; this has fast been rectified as the crypto is growing by the day. At this stage, you should have established how much you are willing to invest in the crypto. After picking a secure exchange platform like kraken (a platform that has allowed BHC trading since it was created), you then go ahead to use your traditional local transfer medium to fund your account for the purchase of the coins. Sudah tentu, the process is quite easy; you will be guided by instructions to help you make navigation easier. You are however advised that in carrying out the local bank transfer to your BHC wallet you should use a two factor authentication (this is to help secure your wallet from fraud).
Transfer your BHC to your wallet
As is the usual practice, we advise that you do not leave your coins on an exchange platform without moving it to your wallet where it would be guaranteed more safety in the event of the exchange site getting hacked or the site crashing. You can track the transactions using the necessary mediums. Don’t panic, once you get notifications that the transaction has been completed, you can now smile because you have added another investment to the ones you have.
BHC is a relatively new and growing cryptocurrency so there is the need to take maximum precaution before and after investing. This is not to put fear in your mind, these steps are necessary to help you monitor and know when to trade or retain your coins.