Buy Bitcoin Cash (BCH)
The world of cryptocurrency and their huge popularity would definitely not be the same if it weren't for Bitcoin and the excellent performance it has had over the years, almost completely suppressing the volatility of the currency. But did you know that you can also buy Bitcoin Cash? A cryptocurrency and project born from the roots of the Bitcoin we all know.
Bitcoin Cash was born in 2017, and in addition to being a cryptocurrency, it also functions as a decentralised payment network that does not operate under the control of any higher institution. If you don't know what you have to do to buy Bitcoin Cash, then keep reading this article because we will give you all the details.
How to buy Bitcoin Cash (BCH)?
If you want to invest in Bitcoin Cash in Hong Kong, you should know that it is very easy to do so thanks to online investment platforms that give you access to the cryptocurrency market.
Technological advances have decentralised this type of transaction, and you don't even have to think about bureaucratic processes to buy BCH, the acronym by which it is known on these platforms.
At this point you are probably wondering what the difference is between Bitcoin and Bitcoin Cash, and the main difference is in the block chain, as the Bitcoin Cash chain is much larger than the common Bitcoin, and therefore also allows for more mining and more transactions.
How to invest in Bitcoin Cash (BCH)?
To start buying Bitcoin Cash in Hong Kong, we are going to tell you in advance that what you need to do is to register with an investment platform, also known as brokers, but we will talk about that in detail in the next point.
To buy and sell Bitcoin Cash, the process goes beyond a simple transaction. You must make a kind of market research, covering important aspects such as:
- Current price of the currency and its projection.
- Previous fluctuations presented by Bitcoin Cash.
In addition to these aspects, it is of utmost importance that you understand very well the kind of language and terms that are usually incorporated in the cryptocurrency market, as in the process of investing in Bitcoin Cash, you do not want to encounter things you do not understand.
Bitcoin Cash (BCH) trading platform
There are several platforms or brokers that will allow you to buy Bitcoin Cash, but you must make sure you choose the one that best suits you and your budget, as this is essential to have a good experience as an investor. We are talking about:
- Commissions to be charged for the use of the platform or for withdrawals.
- Website interface.
- Terms and conditions of use.
- Benefits offered to you as a user.
- Availability to buy BCH.
A trading platform can offer you several benefits that will make it much easier for you to invest in Bitcoin Cash in Hong Kong, and we are talking about things like specialized BCH news, tutorials, availability of demo accounts, forums between investors, and more.
Another important point to consider in terms of brokers is that they offer you the option of leverage, a kind of loan that allows you to cover a higher monetary value to invest in Bitcoin Cash at a higher rate.
How to start investing in Bitcoin Cash (BCH)?
Now that you know how to buy Bitcoin Cash, it is essential that before you start doing so, you set up a budget to help you keep more control over your finances. This way you can easily calculate what your buying power is, and you can also avoid making losses that you didn't expect.
Buying cryptocurrencies can be considered a risky financial activity, as it can generate very good profits, but also losses.
As we mentioned above, it is sometimes difficult to predict which way the price of Bitcoin Cash will go, however, there are factors that can cause demand and supply to move drastically:
- Government measures on cryptocurrency.
- Decisions taken from Bitcoin Cash, or even Bitcoin.
- News about the cryptocurrency market.
Remember that the value of Bitcoin Cash is variable, and as you get an order to buy and sell using contracts for difference, this means that you can pay for the "product" for one value, and then sell it for more or less as the market determines.
How to register?
To register for an investment platform, simply go to the website, click on the register button, and then enter your email address and password to create an account. After that, you will need to confirm the process via a link that will be sent to your email.
The broker will need to verify your account with an identity document that you will need to upload to the website, along with a receipt for a household service such as electricity, water, internet or gas, which allows you to verify your address and that you want to invest in Bitcoin in Hong Kong.
How to open a demo account?
To open a demo account simply create a regular account as explained above, and click on the option to trade with a practice account, which offers you the huge benefit of placing dummy funds at your disposal for you to practice buying Bitcoin Cash using the real interface and data.
It is important to note that these funds are fictitious, and you cannot withdraw profits from them.
How to open a real account?
To open a real account you can also follow the simple registration process and make your first deposit to start buying Bitcoin Cash in Hong Kong. You can even migrate from your demo account to your real account, without needing to create a new login.
How to fund a deposit?
To make a deposit, simply select one of the deposit methods available on the investment platform. Among these you can find:
- Credit or debit card payment.
- Bank transfers.
- Payments with digital platforms.
After selecting your deposit method, simply choose the type of currency you want to use, the amount to deposit, and you will have money on the web to buy Bitcoin Cash.
Minimum deposit amount
The minimum deposit amount is set by the investment platforms, and usually depends on the type of audience they are targeting. For example, a broker trying to attract advanced investors usually sets minimum deposit amounts of $1,000, while others are made for retail investors, and allow you to deposit from $10 and upwards to invest in Bitcoin Cash.
How to withdraw money?
To withdraw money from your earnings after buying Bitcoin Cash, you can make use of the withdrawal channels used by the platform, which are usually the same as the deposit channels, i.e. bank transfers, card payments, and e-wallet transfers.
Bitcoin Cash (BCH) investment security
Investing in Bitcoin Cash in Hong Kong may make you think twice about the security of your money and data, but you should know that if you use a reliable broker, and a secure internet network, you will be more than protected thanks to the servers of these platforms.
How safe is it to invest in Bitcoin Cash (BCH)?
Bitcoin Cash was born out of Bitcoin, and has a great prestige that over the years, and since its founding in 2017, has made many people look at this cryptocurrency. You can read comments and reviews from other investors about the crypto and the platform to feel much more confident.
Is it safe to invest in Bitcoin Cash online?
Investment platforms apply security encryption on their servers which means that not only your money is protected, but also your data. You can have peace of mind when investing in Bitcoin Cash online.
How to invest safely in Bitcoin Cash online?
To invest in Bitcoin Cash safely, you should make sure that you choose an investment platform that has the necessary licences to operate. This can usually be found directly on the home page of their website.
It is important to clarify that the security we are talking about in this section refers to the protection of your money and data, and not to how effective your Bitcoin Cash investments may be.
Can you buy Bitcoin Cash?
Yes, you can invest in Bitcoin Cash through a trading platform where you can buy and sell.
Is Bitcoin Cash a good buy?
Bitcoin Cash is born out of Bitcoin, and both have shown very good recent performance in the cryptocurrency market.
Is Bitcoin Cash a good long-term investment?
Over the last year Bitcoin Cash has been stable and its price is currently on the rise, which makes us think that it is a good long-term purchase.
Where can I buy Bitcoin Cash?
You can buy from wherever you are, simply by using an online trading platform.
How do I buy Bitcoin Cash with a credit card?
Trading platforms allow you to deposit money by credit card. Apply that process, and then use your funds to buy Bitcoin Cash.
How to buy Bitcoin Cash in Hong Kong?
You can buy Bitcoin Cash using a trading platform operating in the Republic of Hong Kong.
What happened to Bitcoin Cash (BCH)?
Bitcoin Cash initially started with an extremely high value that made many hopeful about its future, but quickly fell to worrying levels. Today it remains modestly valued and rising.
Why did Bitcoin Cash (BCH) fall?
In the last year, specifically with the pandemic declaration, the Bitcoin Cash price fell, as did most markets.
Why did Bitcoin Cash (BCH) rise?
After the world relatively and gradually normalised, the value of Bitcoin Cash started to rise, and at the beginning of 2021 it has proven to be a very good market performer.