Looking to buy Bitcoin Cash (BCH)? You’re in luck. This user-friendly guide will tell you everything you need to know. Follow the below steps carefully. To begin, you will need to set up a Coinbase account. We’ve selected Coinbase for this guide as it is one of the most secure cryptocurrency exchanges. If you already have an account, proceed to the steps below.
1. Buy Bitcoin Cash (BCH)
Once you’ve logged into your Coinbase account, you will land on your dashboard.
The dashboard depicts your portfolio value at the top and real-time prices for Coinbase’s five cryptocurrencies at the bottom.
If this is your first purchase, you won’t have any data in your portfolio value section, but not to worry, that’s soon to change.
You will notice some tabs in the top left of your screen. To continue with the purchasing process, select the “Buy/Sell” tab.
2. Select Bitcoin Cash and Pick Your Payment Method
From your dashboard, you will move to the “Buy/Sell” tab. Here you will find a section on the left with a tab for buying and a tab for selling.
It will automatically open to the buy tab, which is where you want to be. Once here, select your cryptocurrency of choice in the “cryptocurrency” drop-down. In this case, Bitcoin Cash.
Next, move on to the “Payment method” drop-down below. Here you will choose from whichever accounts you linked to your Coinbase during your initial setup.
Ensure you’ve selected Bitcoin Cash (BCH) and the bank account you’d like to use for your transaction before moving on.
3. How Much BCH Do You Want to Buy?
Here is the part where you get to choose how much money you would like to invest in Bitcoin Cash. In the “Amount” section you will need to enter your investment amount in USD.
Once done, the BCH box to its right will automatically calculate the amount of BCH your USD will equate to.
Check everything over to ensure you’ve selected Bitcoin Cash, choose the best payment method for your transaction, and entered the dollar value you intend to invest.
Once you’ve reviewed, click the “Buy Bitcoin Cash” button. Note: there is another confirmation step if you change your mind after pressing this button.
4. Confirm Your BCH Transaction
After you click “Buy Bitcoin Cash,” you will be led to this screen. Before confirming your buy, take a look at the information on the left. This info includes:
- Your payment method
- Where your BCH will be deposited to (it will default to your BCH wallet on Coinbase)
- When your BCH is available for trade on Coinbase
- When your BCH is available for withdrawal
Once you’ve reviewed all the information and you are comfortable with the transaction, click “Confirm Buy” on the right.
5. Await Your Bitcoin Cash (BCH) Purchase Confirmation
Once you’ve confirmed your transaction, all you need to do is wait for your confirmation email to arrive.
While you wait for your payment to process, Coinbase will prompt you to invite your friends to earn free cryptocurrency as part of their referral program.
6. Review Your Bitcoin Cash (BCH) Purchase
Once your email arrives, your transaction is confirmed, and you are the proud owner of Bitcoin Cash (BCH)!
This email will include a reference number and all of your purchase details. Be sure to save this email. Now that you’ve bought your Bitcoin Cash, you can head back to your dashboard to see your portfolio and track the status of your investment.
How To Buy Bitcoin Cash (BCH): Additional Information
You’ve successfully purchased Bitcoin Cash on Coinbase. If this is your first cryptocurrency purchase, welcome to the crypto community. Enjoy the ever-changing, constantly-evolving world of blockchain technology, cryptocurrency, and emerging technology at your fingertips.
Before diving into further investments or trades, it is advisable to move your Bitcoin Cash from your hosted Coinbase wallet (where it was automatically deposited) to a separate digital wallet. You’ll need to do this if you want to do things like margin trade BCH on Liquid.
This is an important step in owning cryptocurrency as it adds an extra layer of security. If you don’t have your own digital wallet yet, there are tons to choose from.
Additionally, it is a good idea to familiarize yourself with Coinbase’s fee structure by reviewing your past transactions and reviewing their User Agreement. You can never know too much about your financial endeavors.