Buy Bitcoin Cash: Find Out The Whole Truth
Published: 17 January 2021 by Valentina
Bitcoin forks are often cryptocurrencies that seek to enhance the merits and eliminate the flaws of the cryptocurrency par excellence. BCH tries to do exactly that; however, in order to understand whether buying Bitcoin Cash is a good investment or not, we need to do a thorough analysis of this cryptocurrency, starting from its origins.
Throughout our guide we will show you that buying Bitcoin Cash is not difficult, just follow these 3 steps:
- You register in a regulated CFD Broker, which is preferable to Exchanges (you will find out why later).
- Practice on the Demo account to become familiar with the platform.
- Make the minimum deposit required and start investing seriously.
By following these instructions you can invest in Bitcoin Cash without paying commissions and in a safe and regulated manner.
In fact, thanks to CFD brokers such as eToro, it is possible to buy Bitcoin Cash or other cryptocurrencies in total safety, avoiding the risks present in Exchanges.
Here are the best platforms available:
Min. Deposit: 50€
Min. Deposit: 100€
Min. Deposit: 50€
Min. Deposit: 250€
Min. Deposit: 100€
Min. Deposit: 250€
Bitcoin Cash: Quotation and value in real time
Bitcoin Cash: What it is and how it was born
Is buying Bitcoin Cash worth it?
The fact that Bitcoin Cash derives from Bitcoin makes it a cryptocurrency that will never go away, because it shares a portion of the blockchain with its ancestor. This fact makes it an investment with great potential in the cryptocurrency sector.
How to buy Bitcoin Cash
Now that we know where BCH comes from, we need to analyze how to buy Bitcoin Cash safely and economically.
The possibilities offered by the market are mainly two: Exchanges and CFD Brokers. Let’s explore both of them in order to choose the most convenient.
- Exchanges are cryptocurrency exchange sites. They have no regulation and no external control. They do not offer deposit guarantees and unfortunately suffer frequent cyber attacks resulting in cryptocurrency theft.
- CFD Brokers, on the other hand, are authorized intermediaries, which offer excellent guarantees on the deposits made and are required to comply with a series of rules to protect investors. Furthermore, you do not really come into possession of cryptocurrencies and therefore there is no risk of theft.
Below, we have summarized the strengths and weaknesses of these two methods for investing in cryptocurrencies:
Pros > You “really” buy cryptocurriences
Cons > Commissions to be paid
> No license
> You can only invest upwards
> Serious security concerns
> Slow transactions
Pros > They are safe and licensed
> You can invest both up and down
> There are no commissions
> There is no risk of cryptocurrency theft
> Immediate transactions
Cons > You don’t “really” buy cryptocurriences
This leads us to understand that to buy Tezos the differences between Exchange and CFD Broker are considerable, namely:
- Exchanges are risky (they have suffered numerous cyber attacks), expensive (there are commissions to pay), and allow you to earn only in the event of a rise in prices (you cannot sell short).
- CFD Brokers are cheap (they don’t charge commissions), they are safe and regulated (they are licensed); and offer the opportunity to earn even when prices fall (short selling).
Buy Bitcoin Cash with the best platforms
At this point, you should have a clearer idea of the methods available to buy Bitchoin Cash. CFD Brokers offer a level of security that is truly unattainable for Exchanges, given the fact that the latter cannot obtain the FCA or CySEC licenses which are so precious for investors.
Moreover, we cannot overlook the fact that CFD Brokers are commission-free and therefore, once you have chosen the intermediary where to buy Bitcoin Cash, you just need to:
- Buy Bitcoin Cash CFDs to profit from the cryptocurrency price growth
- Sell Bitcoin Cash CFDs to profit from the drop in the price of the cryptocurrency
Once the desired price has been reached, the transaction is closed and net profits can be withdrawn or reinvested, without commissions.
Thanks to the analysis carried out by OnlineTradingCourse.net on CFD brokers, it emerged that the best platforms to buy Bitcoin Cash safely are those offered by eToro, ForexTB and IQ Option.
eToro: Intuitive platform for Bitcoin Cash
eToro is the most used online broker in the world. Its over 7 million active users together with its various licenses, such as the FCA one for the Uk, demonstrate its reliability.
Mostly famous for its intuitive and very fast platform, eToro makes cryptocurrency trading really easy. Below, you can see a real example of the Bitcoin Cash CFD:
To buy Bitcoin Cash (or sell it) you need to click on “Invest”, decide whether to Buy or Sell the cryptocurrency and how much to invest in the operation.
Not everyone likes to study the charts and trade “manually” on the markets; especially for these investors, eToro has created Copy Trading.
It is a tool to invest automatically and to copy the market operations of the best traders in the world, chosen by you on eToro, automatically and without additional costs.
To use Copy Trading you need to follow these steps:
- Register on eToro
- In the section “people”, you can choose the traders to copy based on the performance.
- With a click, Copy Trading will copy exactly the same operations of the chosen traders in your account.
- At this point, you will get the same returns as these trading experts (of course, in proportion to your investment), without doing anything else.
Here, you can see some of the eToro Traders that can be copied.
Click here and choose which trader to follow
Both Copy Trading as well as traditional trading can also be tested on a free Demo account, without taking real risks.
Click here and sign up for free
For more details you can read our full eToro review.
ForexTB: Trading signals for Bitcoin Cash
ForexTB has managed to stand out in the broad market of intermediaries for trading, thanks to its training offer and support for investors.
This Broker has numerous licenses but the most important is the CySEC authorization, which is valid at European level.
ForexTB offers the possibility to choose between two trading platforms, very different but both free:
- The web platform is easy to use and can be entered from any browser without downloading any software.
- Metatrader 4 is more technical and full of professional indicators and meets the needs of the more experienced traders.
Click here to sign up for free on ForexTB
Buying Bitcoin Cash on ForexTB is simple, just select the corresponding CFD, click on Buy or Sell and decide how much to invest in the transaction.
The training begins with a free trading course that this Broker has created for its users. This is an ebook that explains the basics of online trading in a clear and detailed way but without exaggerating with the technical terms.
Click here and download the trading course for free
In addition to theory, you will also receive practical support with the free Trading Signals, processed by Trading Central, which have a yield of more than 70%. To get them just use the official link below:
To receive free ForexTB Trading Signals, click here
IQ Option: Buy Bitcoin Cash with 10 Euros
IQ Option has reached a truly remarkable level of popularity in few years, especially thanks to its attention to traders who want to trade with small capital.
Thanks to the FCA license, IQ Option is considered a safe intermediary and full of very cheap services.
With this intermediary, in fact, the minimum deposit to open a real account is only 10 Euros, an amount that allows anyone to buy Bitcoin Cash and negotiate on the market, even without large amounts to invest.
With the platform offered by IQ Option, you can buy Bitcoin Cash (or sell it) by making small investments but with real possibilities of profit.
Even if the minimum deposit is only 10 Euros, you can still practice with a Demo account, so as to avoid any risk and become familiar with the platform.
Try the IQ Option platform for free
The IQ Option trading platform is among the fastest and most advanced that we can find on the market but at the same time is not difficult to use. Indeed, traders with little experience find it really simple.
Try the IQ Option platform for free
On this Broker it is also possible to study the basics of trading thanks to an educational area rich in content that is free of charge to all investors.
Bitcoin Cash: Forecast
The cryptocurrency market is highly volatile and major price changes can happen within minutes due to numerous factors such as regulations, competition, new technologies, market sentiment, and so on. So, making predictions on cryptocurrencies is certainly not an easy task, even when we are talking about the fourth largest cryptocurrency in the world: Bitcoin Cash.
The 3-month chart below does not help us much in our analysis given the continuous up and down of the price and the lack of a defined trend:
- Trading Beasts predicts that this could prove to be a significant time for BCH, according to the analyst, the price of BCH could rise to $ 5,635.44 and fall to $ 3,832.10 by 2021.
- Roger Ver (Bitcoin Jesus) has been a supporter of Bitcoin Cash since its inception and predicts that the cryptocurrency could double in value in a year.
- Smartereum predicts that Bitcoin Cash could reach $ 6,700, a growth of around 500% in less than a year.
- Crypto Ground predicts that Bitcoin Cash could rise to $ 707 by the end of 2020. Additionally, BCH could reach $ 3,067 in five years.
- Price Prediction speculates that BCH could reach $ 9560.28 within a year, a rather optimistic valuation.
Bitcoin Cash pros and cons
Our guide to buying Bitcoin Cash should have clarified most of the doubts regarding this famous cryptocurrency. Below, we have summarized the pros and cons of BCH in a few essential points:
- Bitcoin Cash is a cryptocurrency developed to improve Bitcoin’s scalability.
- It uses an improved blockchain and the fees are lower than for BTC.
- Being a derivation of Bitcoin it also inherits its qualities.
- Investors continue to prefer the original Bitcoin.
- It faces competition from other “derivative” cryptocurrencies.
Bitcoin Cash (BCH) is a fork (derivation) of Bitcoin, created to eliminate the limits and defects of BTC.
Yes, but the volatility is very high and there is no well-defined trend.
The forecasts of the major analysts are on the upside but the timing could be long.
CFD brokers offer the safest and cheapest way to invest in Bitcoin Cash.