Bitcoin Cash (BCH) is a prominent cryptocurrency that originated as a Bitcoin fork in 2017. With larger block sizes, faster transaction speeds, and lower fees compared to Bitcoin, BCH has gained significant traction among crypto enthusiasts. This guide covers where to open a BCH account, top purchasing apps, and essential security practices.
Top Platforms to Open a BCH Account
When buying BCH, selecting a reputable exchange is crucial. Here are three trusted options:
Binance
- Global leader in crypto trading
- High liquidity for BCH markets
- Supports multiple trading pairs (BCH/BTC, BCH/USDT)
Coinbase
- User-friendly interface
- Multiple payment methods (credit/debit cards, bank transfers)
- Ideal for beginners
Kraken
- Advanced trading tools
- Strong security measures
- Available in most countries
Best Mobile Apps to Buy BCH
After account setup, these apps streamline BCH purchases:
| App | Key Features | Platform Availability |
|---|---|---|
| Coinbase App | Instant purchases, portfolio tracking | iOS & Android |
| Binance App | Spot/margin trading, price alerts | iOS & Android |
| BitPay | Non-custodial wallet, merchant payments | iOS & Android |
Step-by-Step Guide to Buying BCH
Follow this streamlined process:
Account Registration
- Provide email and create a strong password
Identity Verification (KYC)
- Submit government-issued ID (required by most platforms)
Fund Your Account
- Deposit fiat via bank transfer or card payment
- Or transfer other cryptocurrencies
Execute Your Trade
- Navigate to BCH trading pair
- Select market/limit order type
- Confirm transaction details
Secure Storage
- Transfer BCH to a private wallet for long-term holdings
Critical Security Measures
Protect your assets with these protocols:
✔ Exchange Selection
- Verify regulatory compliance (e.g., FINTRAC, FCA licenses)
✔ Account Protection
- Enable 2FA via Google Authenticator
- Use hardware wallets for large holdings
✔ Fraud Prevention
- Bookmark official exchange URLs
- Never share private keys
✔ Wallet Backup
- Store recovery phrases offline
- Test restoration process
👉 Securing your cryptocurrency holdings
Frequently Asked Questions
Q: What's the minimum BCH purchase amount?
A: Varies by exchange - Binance allows purchases as small as 0.001 BCH (~$0.40).
Q: Can I buy BCH anonymously?
A: Most regulated exchanges require KYC. Consider decentralized exchanges (DEXs) for private transactions.
Q: How long do BCH transfers take?
A: Typically 10-20 minutes for blockchain confirmation. Some services offer instant trading.
Q: Are there tax implications for BCH purchases?
A: Yes - cryptocurrency is taxable in most jurisdictions. Consult a local tax professional.
Q: What makes BCH different from BTC?
A: Key distinctions include 32MB block size (vs. BTC's 1MB), lower fees, and persistent development activity.
Final Recommendations
When entering the BCH market:
- Start with small test transactions
- Diversify across multiple exchanges
- Schedule regular security audits
Bitcoin Cash presents unique opportunities in digital payments and value storage. By following this guide's protocols, you can safely participate in the BCH ecosystem while minimizing risks.