Whoever is interested in investing in the probably best known cryptocurrency at this point at the latest will be confronted with a problem. Meanwhile there are two of the famous Bitcoins: Bitcoin Cash (BCH) and Bitcoin. This article is about how crypto fans can buy/sell Bitcoin Cash.
Bitcoin Cash was created from Bitcoin on August 01, 2017. It is therefore also based on the technology of Bitcoin, which has existed since 2009. The creators of Bitcoin Cash have set themselves the task of creating an improved version of Bitcoin. The continuous increase in the price of Bitcoin Cash has definitely shown that the crypto community is very interested in the coin and the number of users continues to grow.
For those in a hurry: Trade Bitcoin Cash CFDs in three steps
Before you can sell/buy Bitcoin Cash, the first step is to create an account with a trading platform that supports the currency. Our choice is eToro. Here, opening an account is particularly easy and doesn’t even require verification for trades up to $2,000. Furthermore the provider is state-regulated and therefore subject to deposit protection. To open an account you just need to enter your personal details in the login form on the start page.
To top up your trading account with real money you have to click on the “Deposit money” button at the bottom left. This will open a window where you can select the desired payment method, such as instant bank transfer. Depending on the chosen method, the payment can now be made and the trading account can be topped up.
With it now the desired currency, in this case Bitcoin Cash CFDs, can be bought. The easiest way is to enter the currency in the search field and thus find it. Now in the purchase field the desired adjustments can be made. Here it is also determined for how many Euro you want to buy Bitcoin Cash.
If you do not want to trade real Cardano but rather Cardano CFDs, these can also be found via the search field.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Difference between Bitcoin and Bitcoin Cash?
Bitcoin Cash pursues a clear goal, namely better scalability and thus improved adaptation to the growing popularity of crypto currencies. Compared to classic Bitcoin, Bitcoin Cash comes with a significantly larger block size limit. There is therefore more space available for data in the individual blocks of the block chain. Therefore the network can handle more transactions. Put simply, payment works faster thanks to the larger blocks.
Should I invest in Bitcoin Cash?
Of course it is not yet clear which crypto currency will prevail in the long term. This should be clear to every trader before investing in crypto currencies: There is no guarantee for future profits. The crypto market is constantly changing and there are always surprising twists and turns.
Even though Bitcoin and Bitcoin Cash are often mentioned in the same breath, the Bitcoin Cash price develops individually. This means that the success of this currency is not necessarily dependent on the success of the other crypto currencies.
Bitcoin Cash could eventually become an accepted and practical means of payment in the online world. At the beginning of last year, Bitcoin Cash had a tremendous boom, which it slowly but surely left. Perhaps a good time to enter the Bitcoin Cash business!
The current rate
How to sell or buy Bitcoin Cash?
If you want to purchase genuine BCH coins, you should look for a suitable crypto exchange. If you prefer to bet on BCH CFDs, a reputable online broker will help you.
In both cases, you should pay attention to the transparency of the offer and the seriousness of the provider. The crypto market is booming and new offers appear on the market almost daily. For newcomers it can be quite difficult to keep track of the large offer. Unfortunately there are many fraudulent offers and scams among the many really good exchanges and brokers. For your own safety, it is important to research thoroughly before investing, what you should look out for when making your choice and what possibilities the various offers should offer you, you will find out now.
Differences between Bitcoin Cash CFD brokers and stock exchanges
The difference between real Bitcoin Cash and Bitcoin Cash CFDs
Since there are two ways to buy/sell Bitcoin Cash, there are therefore also two different types of investments:
- Brokers trade Bitcoin Cash CFDs, as financial instruments that use the BCH price as a basis
- With stock exchanges, one trades with “real” Bitcoin Cash
Benefits to use a Broker
Functionality: When you buy BCH CFDs, you bet on the performance of the coins and do not receive any real coins. You do not own this crypto-currency in its physical-digital form, but rather deal with the price development. You can imagine the whole thing like this: If the BCH price rises or falls, your CFD also rises or falls. You can choose the BCH price in a 1:1 ratio or work with a lever.
Leverage: For example, if you use a leverage of 10, then your CFD rises and falls 10 times as much as the actual BCH price. This has the advantage that your profit is also 10 times as high. The disadvantage is that this CFD leverage is also associated with great risks.
If you do not cope with price fluctuations and excitement so well, the CFDs are perhaps not the right investment for you.
Top 3 Broker to sell or buy Bitcoin Cash CFDs
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Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 76.4% of individual investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 66% of individual investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Trading leveraged products such as CFDs carries a significant risk of loss and may not be suitable for all investors. 83% of individual investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
How stock exchanges work
Bitcoin Cash Coin: Buying Bitcoin Cash has the great advantage that you can hope to increase the value of the currency here. If BCH is developing as rapidly as Bitcoin, an investment could definitely be worthwhile at this point in time. Because at the moment prices are low and hopes are high. To store your coins safely, you need a wallet. When choosing your wallet, make sure you choose a reputable provider.
Crypto bots: this way you can see BCH coins as a long-term investment or you can sell them on at the next possible high, i.e. actively trade them. Here too, there are opportunities for profits. You can also leave trading to a crypto bot. These crypto trading robots are becoming increasingly popular on the crypto scene because they take over trading fully automatically. The disadvantage is that you do not have to do the trading yourself and trading crypto currencies can be quite exciting!
Top 3 stock exchanges to sell or buy Bitcoin Cash
Our first choice Crypto Exchange
High liquidity and low fees
Best known US Bitcoin exchange
What happens after the Bitcoin Cash purchase?
Especially as a newcomer to the world of crypto, you may wonder what happens after buying digital currency. This is how it continues:
If you have bought coins, you need, as already mentioned, a digital wallet. If you have already opened an account at a so-called crypto exchange, you also have such a storage facility – but if you do not have an account at an exchange, you have to look for a wallet provider.
The problem here is that the private key with which the wallet is controlled remains in the possession of the exchange. This means that there is actually a small security risk here. Even if today’s stock exchanges are all at the cutting edge of security technology, this does not mean that a hacker cannot succeed in getting hold of the private key.
If you want to sell your coins because the price has risen, they can be offered on an exchange at any time. Due to the fact that you don’t have to offer your coins on the exchange where you bought them, you can compare fees in advance. The fees charged by the exchanges differ greatly, so it is advisable to get an overview in advance.
Bitcoin Cash - The conclusion
A closer look at Bitcoin Cash quickly makes it clear why more and more crypto enthusiasts are investing in this digital currency. Although Bitcoin Cash is highly volatile (like all crypto currencies), it is also young. The crypto currencies are spreading more and more, the blockchain technology is now used in a wide variety of industries and the first countries are experimenting with government crypto currencies. So the crypto currencies have an exciting future ahead of them, and so of course does Bitcoin Cash: an interesting Bitcoin spin-off with a lot of potential.
Frequently asked questions about buying Bitcoin Cash
Bitcoin Cash is one of approximately 4,000 crypto currencies. Bitcoin Cash emerged from Bitcoin on August 01, 2017. The big difference between the two crypto-currencies is that mining is much faster with Bitcoin Cash. In the long term, Bitcoin Cash should establish itself as a recognized and widely used payment system.
As a prospective investor and trader, one naturally wonders whether now is a good time to buy BCH. At the same time it should be noted that one cannot say per se whether the time is right or wrong. Crypto currencies are associated with high volatility and the market is not necessarily easy to predict.
The nice thing, however, is that most analysts predict rising prices, especially for the long term. Ultimately, the question is not so much whether you should buy now, but another much more important one. You should know your motivation and the reasons why you want to buy BCH. In other words: Why do you want to invest in BCH? Only when you know your goals can you make a decision to invest in ADA with a clear conscience. If you wish, you can of course adjust your investment at any time.
In order to buy BCH, you must register with a stock exchange or broker, so registration is not missing.
Despite the great predictions for the crypto world, you should not forget that investing in cryptocurrencies involves a high risk. The high volatility does not exist in any other speculative investment objects. Although the BCH share price seems to be quite stable, even inconspicuous news can have a quite strong influence on the performance. The crypto market is sensitive, yet more and more people are abandoning conventional investments and prefer to invest in the promising crypto currencies.
Only you can decide whether or not you want to buy BCH.
No, you can’t. You can be sure that the operator of the stock exchange or broker from whom you bought the ADA is the owner. And without such a broker it is not possible. Of course, brokers do not share the account data with the public, so the assignment has no consequences. However, in exceptional cases it is possible that the legislator may force the broker to disclose this information in individual cases. . Therefore, a completely anonymous procurement or investment in BCH is not possible.
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eToro is a multi-asset platform offering CFD and non-CFD products. 66% of individual investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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