Many people decided to become involved in the cryptocurrency space last year, but there are some things you need to do first before you can start investing. First and foremost, you need to get a wallet to hold your currency, a digital wallet to be exact. Then, you need to choose a cryptocurrency exchange to work with. There are several different exchanges out there to utilize, each with their own benefits.
Each has different coins that they list, and their fees will differ as well. Let’s say you decided on investing in some Bitcoin Cash (BCH), where can you get it from? Thankfully, being that BCH is a relatively popular currency, many exchanges list it. But how do you choose which one to go with?
Well, that is where this article comes in. We will take a closer look at three of the best exchanges when it comes to buying Bitcoin Cash.
What is Bitcoin Cash?
But before we take a closer look at some of the best exchanges for buying Bitcoin Cash, we need to know a little more about what this coin actually is. As you could likely imagine, Bitcoin Cash is a hard fork from the world-famous Bitcoin, and the split took place back in 2017. A group of developers wanted to increase the Bitcoin block size limit, which led to the eventual fork.
Currently, Bitcoin Cash has a total market cap of $10 billion, which makes it the 4th largest cryptocurrency on the planet. While it is still quite new compared to some other currencies, it has already been listed on a ton of different exchanges due to demand and the fact that it has many different supporters.
A solid option to consider is Coinbase. Coinbase is based in San Francisco and was founded in 2012, which makes it one of the oldest exchanges in the industry. It currently serves over 30 different countries and offers several cryptocurrencies that can be bought or sold.
The biggest selling point that makes it one of the most popular platforms out there comes with the fact that it is perfect for beginners and is very simple to use and follow along with. Millions and millions of people (around 20,000,000) use Coinbase, so you can rest assured knowing that you are dealing with professionals. Some platforms in the crypto space can be quite confusing, so Coinbase is a breath of fresh air.
Normally, when buying on this exchange, you are purchasing directly from the exchange, but they also feature a trading platform in which you can trade with other users (Coinbase Pro).
While they are perfect if you want to purchase some of the more popular coins, they have a bit less of a selection when it comes to altcoins, so be sure to keep that in mind before you go with this option. However, if you just want to dip your toes into the industry and start out by trading major coins, Coinbase is a solid exchange to go with.
Founded back in 2013 in London, CEX.IO has been operating as a cryptocurrency exchange for over half a decade. This exchange easily lets people from a variety of countries trade fiat currency for different types of cryptocurrencies, including Bitcoin Cash.
They are very consistent and hardly have any downtime, which is very nice. And whether you are experienced in the art of trading crypto or are brand new to it all, CEX.IO will certainly help. It also offers trading functionality for those with more knowledge in the space. However, a brokerage is also featured for those just getting into trading crypto and preferring to do things in a simpler way.
The exchange itself is very safe and enjoys a great reputation while it also has a lot of experience in the cryptocurrency space. In fact, they used to operate as a cloud mining provider and have recently become a founding member of the first-ever cryptocurrency trade association. If you are looking for a reliable and simple exchange to buy Bitcoin Cash fast, CEX.IO might just be the right exchange.
Bittrex was founded back in 2013, in Seattle, by two business partners who used to work together at Microsoft. While it might not have the size of some of the other exchanges out there, they are loved for the fact that they list a ton of different cryptos, including BCH and many others. In fact, the exchange allows you to trade nearly 200 different cryptocurrencies and so is the one-stop shop for all of your crypto needs.
Their website is also very secure (2FA supported), which is extremely important, and they comply with all the rules and restrictions. Their fees are acceptable, and they can serve those in a variety of countries. Also, the verification process in Bittrex is quite quick, which is appreciated.
Their customer service is also top-notch, which is a good thing in a space where this isn’t always a priority. Their team uses Twitter, Slack, and email, so there is a good chance you will be able to reach out to them easily, no matter what sort of communication method you prefer to use.
While these are not the only exchanges where you can buy, sell and trade Bitcoin Cash, they are among the best and most popular. In conclusion, any of the mentioned exchanges are suitable for getting some Bitcoin Cash and their reputation; their track record and popularity prove that you won’t be scammed or taken advantage of.