How to Buy Bitcoin Cash (BCH)

Bitcoin Cash was created when users elected to run an alternative version of the software with features that were no longer compatible with Bitcoin. This effectively split Bitcoin into two seperate blockchains (Bitcoin and Bitcoin Cash) and two separate assets (BTC and BCH). 

At the time of the fork, everyone who owned BTC was awarded Bitcoin BCH. 

So, if you missed out on the launch (or are simply seeking to diversify your portfolio), you’ve come to the right place. We’ve put together this guide to quickly (and easily!) walk you through how to buy bitcoin cash for the very first time.

Proponents of Bitcoin Cash believe that by lowering transaction costs, the cryptocurrency can gain market share in a wider variety of consumer finance and payments use cases. 

Users of BCH may find their transactions are approved more quickly, with lower fees. However, users should note the costs of operating a node and storing the full version of the Bitcoin Cash transaction history may be higher.

• Direct Purchase
  You can purchase it directly from another individual in person or over the web.
• Crypto ATM
  You can try to locate a crypto ATM near you that offers BCH. However, the ATM rates can be exorbitant and there is no guarantee that you can find a counterpart to make the trade with.
• Exchange
  The easiest way to buy bitcoin cash is through a digital asset exchange, like Kraken. You can trade other cryptocurrencies like bitcoin and ethereum for it or you can use your local cash to purchase BCH.
  
  There are a number of things to consider when choosing an exchange, including: fee structure, volume, reputation and (most importantly) security.
  
  Cryptocurrency exchanges are a constant target for hackers and bad actors, so before you trust your money with one, be sure to read up on their security measures. You can learn more about how Kraken protects your funds and identity here.

Buy bitcoin cash safely and easily with the following steps:

1. Create an account
   Pick a username and password, provide your email address and you’re ready to go.

2. Become verified
   With “Starter” verification, you can purchase bitcoin cash with other cryptocurrencies. All you need to do is provide your name, date of birth, country and phone number. If you’d like to use cash, like USD or EUR, you’ll need to further provide some supporting documents confirming your identity. Click this link to learn more about our verification levels.

3. Fund your account with crypto or cash
   Depositing crypto to Kraken is as simple as sending it to a friend. Just generate a new deposit address in your Kraken account to receive funds from your crypto wallet. Funding your account with cash for trading can be done in a number of ways, including SWIFT, SEPA and domestic wire transfers. The option you select will be based on your location and preference.

4. Purchase BCH!
   Once your account is funded with cash, you’re ready to buy BCH. You’ll also get access to our advanced charting tools, 24-hour global client support and margin* and futures trading**. All of these features are why millions of global traders love Kraken.

*Availability of margin trading services is subject to certain limitations and eligibility criteria.

**Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken’s risk disclosure to learn more.

 

Once you’re done buying BCH, you should look for a way to secure it. The best way to do this is with a wallet. A wallet is a device or software application that stores your crypto but also allows you to spend it. 

Mobile and web-based wallets make frequent transactions easy. Hardware wallets are best suited for secure, long-term storage. When you’re choosing a crypto wallet, think of what you plan to do with your tokens. What you choose is up to you, and it will depend on your individual preferences regarding security vs. ease of use. 

If you’re ready to take the next step and want to buy some BCH, click the button below!