Bitcoin Cash (BCH), a fork of Bitcoin created in 2017, has established itself as a fast and low-cost cryptocurrency with a multi-billion dollar market cap. But what sets BCH apart from being just another Bitcoin spinoff? More importantly, is it a worthwhile investment? This guide explores the BCH ecosystem, its technology, and practical steps for purchasing and storing it.
Why Consider Bitcoin Cash?
- Speed & Low Fees: BCH’s 32MB block size (vs. Bitcoin’s 1MB) enables faster transactions and lower costs.
- Peer-to-Peer Cash: Designed to fulfill Bitcoin’s original vision as everyday electronic money.
- Strong Market Position: Consistently ranked among the top 20 cryptocurrencies by market cap.
Top Exchanges to Buy Bitcoin Cash
After six months of rigorous testing, these platforms stood out for their security, fees, and user experience:
1. Binance
- Fees: 0.1% spot trading fee.
- Features: Staking, derivatives, cloud mining.
- Best for: High liquidity and diverse trading pairs (e.g., BCH/USDT, BCH/BTC).
2. Coinbase
- Fees: Variable (lower with subscription).
- Features: Staking, earn-to-learn programs.
- Best for: U.S.-based users seeking regulatory compliance.
3. Kraken
- Fees: 0.16% maker / 0.26% taker.
- Features: Advanced trading, proof-of-reserves.
- Best for: Security-conscious traders.
4. OKX
- Fees: 0.08% maker / 0.1% taker.
- Features: Tiered fee schedule, derivatives.
- Best for: Global users and institutional traders.
How Bitcoin Cash Works
- Blockchain: Uses proof-of-work (PoW) with 32MB blocks for scalability.
- Transactions: Pseudonymous and immutable (like Bitcoin).
- Goal: Serve as practical, everyday money with sub-cent fees.
Bitcoin Cash vs. Bitcoin
| Feature | Bitcoin Cash (BCH) | Bitcoin (BTC) |
|------------------|-------------------|--------------|
| Block Size | 32MB | 1MB |
| Focus | Payments | Store of value |
| Fees | Ultra-low | Higher |
Key Takeaway: BCH prioritizes usability, while BTC emphasizes scarcity and security.
How to Buy BCH (Step-by-Step)
- Sign up on an exchange (e.g., Binance or Coinbase).
- Deposit funds via credit card, bank transfer, or stablecoins.
- Buy BCH directly or trade for USDT/BTC first.
- Store in a secure wallet (e.g., Ledger, Trezor).
👉 Get started with BCH trading
P2P Trading for Bitcoin Cash
Peer-to-peer platforms offer direct buying/selling with escrow protection.
Pros: Lower fees, faster settlements.
Cons: Higher scam risk (e.g., chargeback fraud).
Bitcoin Cash Wallets
- Hardware: Ledger Nano S (most secure).
- Software: Electron Cash (user-friendly).
- Mobile: Guarda (multi-currency support).
Should You Buy Bitcoin Cash?
Pros:
- Low transaction fees.
- Active development community.
- Scalability for mass adoption.
Cons:
- Volatile price.
- Competition from other payment cryptos.
Verdict: Research thoroughly and assess risk tolerance.
FAQs
Is Bitcoin Cash a good investment?
BCH suits those believing in crypto as everyday money, but its price is volatile.
Where’s the best place to buy BCH?
Binance, Coinbase, and Kraken are top choices for security and liquidity.
What’s the fastest way to buy BCH?
P2P platforms offer instant trades but require caution.
Disclaimer: Cryptocurrency investments carry risks. Always conduct independent research.