How to Buy Bitcoin Cash (BCH) Guide

Last updated: 6/13/19

Bitcoin Cash (BCH) came about in August 2017 after a hard fork and a split in the Bitcoin blockchain. Bitcoin Cash is a direct result of the constant debates and many opinions about the future of Bitcoin’s scalability and mass adoption.

In this guide, you’ll find out exactly what makes Bitcoin Cash special and where to get your hands on some coins.

How to Buy Bitcoin Cash Summary

  1. Get a Bitcoin Cash Wallet (Ledger, Exodus, Edge)
  2. Get your Bitcoin Cash address (normal or Cash address)
  3. Find a BCH exchange (Coinmama, CEX.io)
  4. Buy BCH and withdraw them to your wallet

That’s it! If you want a deeper explanation of what Bitcoin Cash is, how to buy it and where to store it keep on reading. Here’s what I’ll cover:

  1. What is Bitcoin Cash?
  2. Buying Bitcoin Cash in 3 steps:
  3. Conclusion

1. Bitcoin vs. Bitcoin Cash

Bitcoin’s blockchain has grown exponentially in recent times. This means that many more users are using the cryptocurrency, which is slowing down the network.

The limited Bitcoin block size of 1 MB means that blocks are filling up quickly, resulting in a long queue of unconfirmed transactions. As a result, at peak times, transactions have become slow and expensive.

Bitcoin cash, on the other hand, was initially created with an 8MB block, which was later on increased in size to 32MB. This change allows for more transactions to be processed in each block mined.

Many see this as a step forward in terms of how best to scale the network.

Bitcoin Cash opposers remain adamant that it’s simply a short-term fix that doesn’t solve the problem in the long run. Also, they claim there’s no implementation of ideas such as Segwit to help effectively break transactions down into smaller, more manageable pieces.

Bitcoin Cash (BCH), Sometimes referred to as Bcash, is a fork of Bitcoin (BTC). When a fork occurs on a Blockchain, the currency is basically duplicated.

This means that anyone with Bitcoins in his possession at the time the fork occurred,  got credited with the same amount of Bitcoin Cash.

So does that mean free money? Sort of… Here’s our guide on how to claim your Bitcoin Cash if you owned Bitcoin before the split on August 1, 2017.

On November 2018 Bitcoin Cash forked and created Bitcoin SV (Satoshi’s Vision) – a version of Bitcoin Cash with an even larger block size of 128 MB.


2. Buying Bitcoin Cash in 3 Simple Steps

Step 1: Get a Bitcoin Cash Wallet

Ledger
Wallet type:
Hardware wallet
Supported platforms:
Desktop, mobile
Trezor
Wallet type:
Hardware wallet
Supported platforms:
Desktop only
Exodus
Wallet type:
Software wallet
Supported platforms:
Desktop

Before you can buy Bitcoin Cash, you’ll need a Bitcoin Cash wallet to store it in. Hardware wallets that support Bitcoin Cash include industry leaders Ledger and TREZOR.

Both Ledger and TREZOR provide functions for you to use Bitcoin Cash as you would any other cryptocurrency. Both have also introduced the ability to claim your funds if you already owned Bitcoin at the time of the Bitcoin Cash hard fork.

Addtionally, there are a variety of software wallets you can use to store Bitcoin Cash as well.

Exodus provides a great user experience with a seamless coin exchange service known as Shapeshift built it. You can read my complete Exodus review here.

Edge is a mobile wallet for iOS and Android that supports multiple cryptocurrencies including Bitcoin Cash. It also has a variety of features allowing you to buy cryptocurrencies and exchange them from within the app.

Electron Cash is a clone of the awesome Electrum wallet for Bitcoin. If you’re used to Electrum, then you’ll have no problem jumping on board with its sister technology.

Other wallets that support BCH include Keepkey, BTC.com, Bitpay, and Coinomi. You can view all available wallets on the official Bitcoin Cash website.

Once you have your wallet, you will need your Bitcoin Cash address. It’s a long string of letters and numbers that start with either a “1” or a “3” – similar to normal Bitcoin addresses.

Since many people got confused and started sending Bitcoins to Bitcoin Cash wallets and vice versa, a new format was invented for Bitcoin Cash. The format, called “Cash Address” is 42 characters long and starts with a “p” or a “q”. Here’s an example:

qpm2qsznhks23z7629mms6s4cwef74vcwvy22gdx6a

Keep in mind that Cash Addresses are just a representation of original Bitcoin Cash addresses. This means that the same address can be represented in two different ways (normal format or Cash Address format).

Not all wallets support Cash address format.

Step 2: Find a Bitcoin Cash Exchange

eToro
Availability:
Worldwide*
Overall rating:
4.5 Star Rating
Coinmama
Availability:
Worldwide
Overall rating:
4.5 Star Rating
CEX.io
Availability:
Worldwide
Overall rating:
4.5 Star Rating
Coinbase
Availability:
33 Countries
Overall rating:
4 Star Rating

Most Bitcoin exchanges will also allow you to buy Bitcoin Cash, here are top ones around.

Buy Bitcoin Cash Through eToro

eToro allows users from around the world to buy and sell Bitcoin Cash with a variety of payment methods.

eToro doesn’t give you actual access to your coins and you can’t send coins from eToro to other people. The only thing that can be done with the platform is to buy and sell Bitcoin Cash for fiat currency (i.e. Dollars, Euros, etc.).

If you use eToro you don’t actually need a Bitcoin Cash wallet as they don’t supply you the actual coins. You can read my complete eToro review here.

Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. So keep in mind that your capital is at risk.

Buy Bitcoin Cash Through Coinmama

Coinmama, one of the oldest exchanges around,  allows you to buy Bitcoin Cash with a credit card, debit card or SEPA transfer. Coinmama accepts users from almost all countries around the world.

You can read my complete Coinmama review here.

Buy Bitcoin Cash Through CEX.io

CEX.IO, based in London, is a trusted, experienced name in the industry, having been around since 2013. You can choose from a selection of cryptocurrencies on the site, including Bitcoin Cash.

The exchange has a brokerage service (easier to use, more expensive) and a trading platform (cheaper but more complex).CEX accepts credit cards, debit cards, wire transfers and SEPA.

You can read my CEX.io review here.

Coinbase – The most reputable Bitcoin exchange around, Coinbase supplies Bitcoin Cash support and buy / sell options. Coinbase allows you to get competitive rates if you live in one of the 33 supported countries around the world. You can read our Coinbase review here.

Buy Bitcoin Cash Through Coinbase

Coinbase is a reputable Bitcoin exchange that supplies a variety of other services including a wallet, a trading platform (Coinbase Pro) and a Bitcoin debit card.

If you’re a beginner, it’s probably best to use the brokerage service which is a bit more expensive, but easier to use. Advanced users can use Coinbase Pro to buy Bitcoin Cash with lower fees.

Coinbase accepts debit cards and wire transfers. You can read my complete Coinbase review here.

Buy Bitcoin Cash Through Bitstamp

Bitstamp, the oldest exchange around, supports the trading of BCH to Bitcoin and direct purchases with US dollars or Euros. There’s also an option to buy Bitcoin Cash with your credit card at a higher price.

If you know your way around Bitcoin trading platforms it’s best to use that service and not the credit card service since you’ll save substantially on fees. You can read my complete Bitstamp review here.

Other options to purchase Bitcoin Cash include Bitfinex, Kraken, Poloniex, HitBTC, and more (you can view all available exchanges on Bitcoin Cash’s website).

Step 3: Transfer the BCH to your wallet

As usual, I recommend that you never leave money on an exchange.

Once you’ve finished buying your Bitcoin Cash, move it to your own wallet (the one you chose in step 1). You can then follow the status of your transaction using a Bitcoin Cash block explorer.

Once you receive three confirmations for your Bitcoin Cash, you can safely say you’ve completed the process.


3. Conclusion

It’s apparent that Bitcoin Cash has still not gained full acceptance by large parts of the cryptocurrency community. It still sits firmly in second place to its older brother in terms of both price and usage.

Bitcoin Cash has the advantage of being the first major split that has garnered acceptance. Most forks after it didn’t receive nearly enough attention from the community or the media.

However, with internal conflicts inside its founding team and accelerated Bitcoin development for scalability solutions, I’m not sure if there’s an actual use case for Bitcoin Cash other than price speculation.

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Carlos Figueroa
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Carlos Figueroa

I wanted to purchse my first crypto in Petroleum? how and what websites?

Carlos Figueroa
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Carlos Figueroa

does anybody know how I can buy bitcoin or bit cash in africa?

Lisa
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Lisa

Does anyone know where I can buy bcash or Bitcoin-Cash in Canada?
I want to sell some of my Bitcoin because it is very expensive to use now, and I’ve been hearing good things about BCH in my area. Im in Ottawa.

Branden
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Branden

Awesome article, I’ve had a lot of trouble with coinbase in the past and have transferred most of my coins to Binance **referral link removed**. It’s been solid so far and support is really attentive.

I just wish you could deposit directly into exchanges via debit like you can on coinbase, would be so much easier!

Mandy
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Mandy

Hi Nathan, Just wondering if you know if it’s possible to buy bitcoin cash with bitcoin? I’ve been trawling the ledger zendesk and going around in cirlces. I did not own bitcoin before the split so did not get any free bitcoin cash. However, now I own bitcoin and want to buy bitcoin cash with it? I have only the ledger wallet and ledger nano s – and have installed the bitcoin cash wallet on the ledger wallet. Now am just trying my darndest to work out if there’s a way to move the bitcoins across i.e. from the bitcoin… Read more »

Peter
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Peter

Coinfloor might not be UK based;they provide a UK address (could be just a mailbox…), but the bank details for deposits are for a bank in Poland.

Nathan
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Nathan

Hello, in terms of OTC for BCH exchange, what do you guys think of Coincola?

Anthony Sucre
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Anthony Sucre

in the review, it says Jaxx supports BCH. I have checked through Jaxx but didnt find support for BCH, am i doing something incorrectly or its no longer supported as at today?

Susan
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Susan

Oops… Crash course..

Susan
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Susan

Hello Ofir, I have a Lendger nano s but haven’t dived in as of yet. Does this hard wallet only useful for one transaction? And does it except bitcash and etheteum or do I need other wallets for them?

Getting ready to jump in, Thanks, love your card course!