Bitcoin Cash (BCH) is the first Bitcoin Hard Fork that took place in August 2017. At that time there was a long lasting debate about how the Bitcoin code should be further developed, in particular to ensure the scalability of the blockchain and thus pave the way for the adaptation to the mainstream. Bitcoin Cash is the result of this disagreement of the Bitcoin developer community. Since the fights were strong and the Bitcoin Cash Hard Fork came as a surprise, BCH still enjoys a rather bad reputation today.
Nevertheless, Bitcoin Cash can be a good investment. The all-time high of the Bitcoin Cash price of almost 4,000 US dollars is still a long way off after the bear market of 2018. If you want to check the current Bitcoin Cash (BCH) price first, we recommend our Bitcoin Cash price overview.
We will introduce you to various ways in which you can buy and store Bitcoin Cash very easily, quickly and securely. Before you read through the instructions for the various exchanges and brokers, you should ask yourself an important and central question that will help you decide where to buy Bitcoin Cash:
Guide: Choose the best exchange or broker
Would you like to keep Bitcoin Cash in custody and retain full control over your asset yourself, or would you like a simpler solution and delegate management responsibility to a broker? Then you also have the opportunity to invest in Bitcoin Cash CFDs.
You should pay attention to the following when asking a question: The basic idea of cryptocurrencies like Bitcoin Cash is to create a financial system that works without third parties and middlemen. Accordingly, from our point of view it is generally more desirable to manage your own cryptocurrencies such as Bitcoin Cash yourself, since only you have access to your asset via your private key.
In the past, cryptocurrency exchanges have often been victims of hacker attacks, with large quantities of cryptocurrencies being stolen. In this respect, we believe it is safer to manage your Bitcoin Cash by yourself. However, it can be complicated for beginners to set up and use a desktop or hardware wallet.
Another special third solution is cryptocurrency CFDs. Very important to know with CFDs is, however, that you do not really own the cryptocurrency like Bitcoin Cash, but only hold the certificate (CFD) at a rising (long) or falling (short) price. Because of this we would like to give you the following recommendations:
**Risk Warning: 80.6% of retail CFD accounts lose money.
**= Risk warning: 62% of retail CFD accounts lose money when trading CFDs from this provider.
Buy Bitcoin Cash on eToro
Another reliable retailer to buy Bitcoin Cash is, in our experience, eToro. The biggest advantage of this platform clearly lies in the existing deposit protection per customer up to a value of 20,000 euros. The first step is to go to the official website etoro.com (click on this link)*. Then click on the green button “Register now”. Then a new window will open where you have to enter your first and last name, e-mail, password, telephone number and a user name.
Limits for the purchase of Bitcoin Cash at eToro
Once you have successfully completed these steps, you will automatically be logged into your account. Your current account is subject to certain deposit limits as you have not yet fully verified your identity. This means that the initial deposit limit is 2,000 euros. Below you will find an overview of all payment options that depend on your place of residence and their limits.
|Method of payment||Countries||Time of transfer||Maximum par transaction|
|Giropay, SOFORT||Germany||up to 1 working day||$30.000|
|Neteller||UK (Great Britain)||Immediately||$10.000|
|Skrill Limited UK||UK (Great Britain)||Immediately||$10.000|
|WebMoney||UK (Great Britain)||Immediately||$50.000|
|Virement bancaire||worldwide||Bank wire||Unlimited|
In order to use the full functionality of eToro, you need to prove your identity and address, as well as a tax number. This process is necessary in connection with the strict provisions of EU law and is already an integral part of the secure operation of the platforms on many other exchanges. Verification is completely free and can be done in a few simple steps. Click on the “Edit” button on your profile. There the necessary documents are listed, which has to be submitted in order to activate the full range of functions.
Now you can deposit money. All you have to do is select “Deposit” in the lower left corner and then enter your preferred payment method. Depending on the type of deposit (see table above), the credit will be either slightly faster or slower. Now you can go straight to acquiring Bitcoin Cash.
Buy BCH from eToro
As already described in the introduction, eToro has the special feature that the platform offers both “real” Bitcoin Cash and Bitcoin Cash CFDs.
Buy “Real” Bitcoin Cash
EToro currently offers 15 different cryptcurrencies for trading, including Bitcoin Cash. To buy “real” BCH, you have to first click on “Trade Markets” and then on “Crypto” and then on Bitcoin Cash. The following page is then relatively self-explanatory.
The letter ‘B’ stands for buy Bitcoin Cash and ‘S’ for sell Bitcoin Cash. Click on the “B” in the Bitcoin Cash column to start the purchase. Then you just have to enter the amount of Bitcoin Cash you want to buy. Then click on “Buy” (no other settings are necessary) and your transaction will be executed within a few seconds. Now you have bought Bitcoin Cash quickly and easily.
Risk warning: 62% of retail CFD accounts lose money when trading CFDs from this provider.
Buy Bitcoin Cash CFDs
Buying Bitcoin Cash CFDs on eToro is very similar to buying “real” Bitcoin Cash. This is what you need to remember: When you open a new BUY position for a cryptocurrency without leverage, you have the cryptocurrency and no Bitcoin Cash CFD. Your investment in eToro is then secured with the real asset. This means that eToro buys the cryptocurrency in your name and stores it in a separate account under your name.
To buy Bitcoin Cash CFD you have to first click on “B” to buy Bitcoin Cash. After that you get to the usual overview:
Here you set the amount of money you want to invest in this trade as usual. Then you have to adjust the leverage multiplier “X2”. For cryptocurrencies, eToro does not currently offer any higher leverage. You should then check your Stop Loss and Take Profit settings. A stop-loss limit is very important to limit the possible risk. Then you can open the trade. This is executed immediately when the market is open.
Stop Loss means that you close a trade if the Bitcoin Cash price is a fixed market price or an amount of money you can set. Take Profit determines when your trade is automatically closed when the profit of your trade reaches the amount you have chosen. It is also important to know that overnight fees (also called rollover fees) are charged by eToro. These will appear in the pop-up window before you place your order (see screenshot).
Risk warning: 62% of retail CFD accounts lose money when trading CFDs from this provider.
The eToro Bitcoin Cash Wallet
Since March 2019 eToro offers the possibility to manage single cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, Litecoin and XRP) on a mobile wallet (an app). The app makes it possible to withdraw your “real” Bitcoin Cash from the exchange and send it to an external wallet.
The eToro Wallet is also equipped with numerous other functions that make it interesting to download. The eToro Wallet enables Bitcoins to be sent to other wallets, e.g. to other crypto exchanges or to hardware wallets. In addition, the app offers the following functions:
- exchange of crypto-to-crypto
- payments in shops
- make deposits
The app is available at the Apple Store and the Google Play Store. Before you continue reading this guide, you should download the app first. The download and registration works as usual. Once you have completed the installation, to transfer your own Bitcoins to the eToro Wallet, click on the “Portfolio” window and then on the “Settings” icon. Under “Investements” you have the possibility to “transfer to the wallet”, as you can see on the following screenshot with the example of Bitcoin (BTC).
It is important to know that the transfer at this point is only possible to the eToro wallet and no other wallet (e.g. Electrum, the Bitcoin.com wallet or a hardware wallet). As already described, you can only do this from the Wallet app.
The transfer to the eToro Bitcoin Cash Wallet may take up to one business day for the transfer to be processed by eToro. After that it may take some more time until the transaction is visible in the eToro Wallet, because the transaction still has to be processed by the Bitcoin Cash Blockchain. During this processing, the transaction appears as a “pending transfer” in the portfolio. It is also important to note that both a transfer fee is charged by eToro and a blockchain fee is incurred.
Minimum Deposits and Processing Fees
When trading on eToro, you need to be aware of the following:
- All trading accounts are in US dollars (and not euros). That’s why your deposit will be converted into US dollars immediately. This is done at the current exchange rate, but please note that there is a conversion fee.
- The minimum deposit for all deposits other than the first deposit must be at least USD 50. A minimum of 500 USD is required for deposits made by bank transfer.
- A withdrawal handling fee will be charged for withdrawals. You will see the respective withdrawal fee in the cashier area after you have entered the withdrawal amount. For payouts greater than 50 USD, this is 25 USD.
Is eToro safe and recommendable?
From our point of view, this question is very important because the management of private keys is delegated to a broker. The user gives the control over his own assets to a third party, here: eToro! This makes it all the more important that the broker is reputable and trustworthy.
From our point of view, this is clearly the case with eToro. As a rule, customer deposits are always well secured when the respective broker is supervised by a regulatory authority. EToro is immediately controlled by supervisory authorities that are considered very accurate and strict in flare trips:
- CySEC: As eToro has part of its registered office in Cyprus, the Cypriot CySEC is responsible for monitoring.
- FCA: As eToro has also established a subsidiary in the UK, FCA in the UK is also responsible for the control of eToro.
The broker also actively protects customer deposits by keeping them separate from the company’s assets. Even if the broker were to become insolvent, the customer’s money would not flow into the insolvency estate.
Risk warning: 62% of retail CFD accounts lose money when trading CFDs from this provider.
Buy Bitcoin Cash on Kriptomat
Even though Kriptomat is a comparatively young crypto exchange, in our experience it is still highly recommended. On Kriptomat you can buy more than 30 cryptocurrencies directly by SEPA bank transfer or credit card and send them directly to an external wallet, unlike eToro, where this is not so easy.
Especially for crypto enthusiasts who have never invested in cryptocurrencies before, Kriptomat is our top recommendation as Kriptomat’s focus is on an easy to use and modern user interface that allows anyone to buy Bitcoin and Co. But Kriptomat is also a good option for experienced crypto investors, as the broker can be considered very serious and secure due to its extensive licensing by the European country Estonia.
In addition, Kriptomat offers another unbeatable advantage that will convince even long-term investors: the fees. This is because Kriptomat does not charge a price premium, the notorious “spread”, but only a fee, which is incurred for each transaction and depends on the method of deposit. In comparison to other exchanges and brokers (when buying via Euro, USD, etc), the fees are therefore rather low.
|SEPA (Euro to crypto)||1.45%||1,45 EUR|
|SEPA sell (crypto to Euro)||1,45%||1,45 EUR|
|Credit card >100 EUR||3,65 %|
|Credit card <100 EUR||variable|
Set up a Bitcoin Cash account with Kriptomat
First of all, you should know that Kriptomat adheres very closely to the legal requirements of the European Union and therefore requires a complete verification of your identity. In order to buy Bitcoin Cash on Kriptomat, you will therefore need to fully verify yourself (regardless of the amount) and set up an account before purchasing. To do so, go to the official website kriptomat.io* and click on the orange “Register” button. A pop-up window will then open in which you can enter your first and last name, an e-mail address and a password for the exchange.
Kriptomat will then send you an e-mail with a confirmation link that you need to use to activate your account. Once you have done this, you can log in to your Kriptomat account. However, you are not finished with the registration at this point.
Before you can buy Bitcoin Cash (BCH), Kriptomat needs your phone number, which you also needs to be verified. The exchange will send you an SMS containing a verification code which you have to enter on the website. If you have done this, Kriptomat will need to verify your identity completely. To start the process, click on step 3 of 4 (see screenshot).
In the new pop-up window, enter your address (street, house number, city, country) and then upload a scan of your passport or ID card. This otherwise very complicated process was solved very easily by Kriptomat. If you have previously completed the registration process on your desktop PC, you can easily continue it on your smartphone. Simply click on the link that Kriptomat displays and Kriptomat will send you an SMS. This SMS will contain a link that is individual for you.
This allows you to take a photo of your ID (front and back) with your smartphone and upload it directly. This also applies to the last step of the registration process, where you have to upload a photo (selfie) of yourself. You can allow Kriptomat to access your camera from your smartphone and take a selfie of you directly.
Once you have completed the registration process described above, you will have the following purchase limits at your disposal, which are the same for everyone.
|Daily deposit and withdrawal via SEPA||25,000.00 EUR|
|Monthly deposit and withdrawal via SEPA||200,000.00 EUR|
|Deposit and withdrawal in cryptocurrencies||no limit|
|Daily limit for other payment methods||500.00 EUR|
|Monthly limit for other payment methods||5,000.00 EUR|
If you want to transfer cryptocurrencies via SEPA bank transfer, you have to add a bank account to your Kriptomat account. Then you can deposit euros via SEPA and use them to buy Bitcoin Cash. If you want to use Neteller, Skrill or your credit card, this is not necessary.
Buy Bitcoin Cash on Kriptomat
Buying Bitcoin Cash on Kriptomat is very simple and intuitive. First go to the tab “Buy / Sell” (step 1) and then select the tab “Buy” (step 2). In the now visible area below, you can search for Bitcoin Cash and select it with a click.
Afterwards you can choose from four different payment methods (Step 3). As described above, SEPA offers the lowest fees, but also has the big disadvantage that the deposit takes longer than when paying by credit card, Neteller or Skrill, which allow for an immediate purchase without a long waiting period.
In the fourth step (see screenshot) you still need to enter your purchase amount for Bitcoin Cash (BCH). After you click on “Buy Bitcoin Cash”, you will see the transaction fees for your order. To finalize the purchase, you have to click “Confirm transaction”. The purchase is now complete and you will be taken to your “My Wallets” section. Usually the BCH should be displayed here within a few seconds. A good summary of the purchase process is also provided in the following video tutorial:
Buy Bitcoin Cash on Litebit
Instructions: Buy Bitcoin Cash quickly and easily on litebit.eu
The Dutch exchange Litebit.eu is an established broker with whom we have been a customer for several years. The service, as well as the customer support and the security standards are qualitatively very high and very satisfactory. Litebit.eu is therefore from our point of view the first choice to buy Bitcoin Cash.
The first step is to open an account with the exchange. Therefore you have to visit the litebit.eu website (click!)* and register. To register, simply click on the “Register” button.
As you will carry out Fiat money transactions on your account, Litebit is legally obliged to request in advance some data necessary for the Know Your Customer process (to implement the European Union directive on anti-money laundering and anti-terror financing laws). These are so far self-explanatory.
Once you have completed all the details, click on “Create my account“. You will then receive an e-mail. This e-mail contains a code with which you have to confirm your e-mail address.
In the next step Litebit will ask you for your phone number and then verify it. If you click “next step” Litebit will send you a text message to the given phone number. This text message contains a unique code. You have to enter this again on the website to verify your phone number.
Finally, you need to choose a two-factor security method. The standard method for LiteBit is two-factor authentication via SMS. The exchange also offers you the possibility to secure your account with the Google Authenticator. We have had very good experiences with both solutions. Litebit will then automatically redirect you to the start page of the exchange. Now you can log into your account again. Click on “Log in” and log in with your previously selected data.
Limits for the purchase of Bitcoin Cash
Litebit has different verification levels and associated limits on how much you can trade daily, weekly or monthly. Through the complete registration described above, you already meet the requirements for “Tier 1”. This allows you to trade 350 Euro per day, 1,050 Euro per week and 4,200 Euro per month. If you want to increase these limits, you have to unlock additional levels (“Tiers”). The following table shows an overview of the verification levels and the maximum investment amounts:
Depending on the payment method, the maximum amounts also differ:
|Unverified||Tier 1||Tier 2||Tier 3|
|iDeal||0.00 €||350.00 €||500.00 €||20,000.00 €|
|SEPA||0.00 €||250.00 €||500.00 €||35,000.00 €|
|Credits||0.00 €||350.00 €||500.00 €||10,000.00 €|
|Sofort||0.00 €||100.00 €||500.00 €||1,000.00 €|
|GiroPay||0.00 €||100.00 €||500.00 €||1,000.00 €|
|Bancontact||0.00 €||350.00 €||500.00 €||10,000.00 €|
Level 2 (“Tier 2”) is the address verification. Level 2 requires you to scan and upload the front and back of your ID card. You have to also prove your place of residence, for example by uploading an electricity or mobile phone bill to Litebit.eu as evidence.
Level 3 (“Tier 3”) is ID verification. For this last step, a Litebit employee will contact you via Skype in a video call so that you can confirm your identity with your identity card. In the last step you can trade cryptocurrencys up to a limit of 500.000 Euro per month.
Purchase Bitcoin Cash with bank transfer & Credit Card
The actual purchase of Bitcoin Cash on Litebit is done very quickly and very easy to complete. Simply click on the “Buy” tab in the navigation bar and then select Bitcoin Cash from the drop-down menu (step 1 in the picture).
You can now select the amount of Bitcoin Cash you want to buy. If you prefer to enter a Euro amount, use the field on the right (step 2) or the suggested amounts below. The “Receive Address” is your Bitcoin Cash Wallet address to which your Bitcoin units are to be sent. If you are using an external wallet, enter the recreiving address of the wallet in this field. If you want to use the wallet of Litebit, click on “Use Litebit Wallet” (step 3 in the picture). Litebit then automatically fills the field with your Bitcoin Cash Wallet address from Litebit. (If you decide differently later, you can also send BCH to an external wallet. )
The Litebit wallet is secure as long as you have activated SMS or 2-factor authentication via Google Authenticator and change your password regularly. However, Exchanges and Brokers have been hacked in the past and large amounts of cryptocurrencies have been stolen. As a better alternative we recommend a desktop or a hardware wallet, like the Ledger Nano S or the Trezor Hardware Wallet. The next step is to explain how to install the Bitcoin.com wallet.
If you have chosen the Litebit Wallet first, you only have to choose the payment method that suits you best. We recommend “Sepa Bankwire” as the fees are very low. If you choose this method, you will transfer the corresponding amount in euros to Litebit’s bank account for a specific purpose. It usually only takes 24 hours for Litebit to receive the transaction and send the Bitcoins to your wallet.
Buy Bitcoin Cash on Coinmama
Create and verify an account
Coinmama offers you the possibility to buy Bitcoin Cash very easy and fast with Euro via SEPA or credit card!
Once you have created your account, you will receive an email containing a confirmation link that you must use to activate your account. Therefore click on the activation link in your mail, which you will receive immediately after opening your account. Also check the spam folder of your mailbox.
Afterwards you have activated your account, you will be taken back to Coinmama.com and can now log into your account. Click on “Log in to your account” or on “Log In” at the top right of the navigation bar. Enter your access data and log in.
On Coinmama it is also necessary to verify your identity, so you will be asked to confirm your identity next. To do this, click on “Verify your account”. First you have to complete your personal data with your home address, telephone number and date of birth. You will then need to upload a copy of your front and back of your passport, driver’s license or passport. Furthermore you have to make a selfie, on which you hold up a sheet of paper, on which the current date and the name Coinmama can be clearly seen.
Once you have done this, you can click on the blue button in the bottom right corner of “Send for Approval”. Afterwards it usually takes 24 hours until your documents are verified and you can then buy Bitcoin directly. Your daily maximum trading volume will then be $15,000.
Good to know before buying Bitcoin Cash
At Coinmama you can currently buy Bitcoin Cash and other cryptocurrencies using the following payment methods:
- Credit card
- Debit card
- Bank transfer.
Since there is no “central bank” that controls the Bitcoin Cash price, each exchange has the possibility to set its own Bitcoin Cash price. The Bitcoin Cash price of Coinmama is the price set by Coinmama and includes a fee of 5.90 percent. For an overview of the current market price we recommend our price overview for all cryptocurrencies.
In addition, the following additional fees may apply:
- When purchasing Bitcoin Cash by credit card/debit card, the payment processor charges an additional 5.00% fee.
- There is no processing fee when purchasing by bank transfer (SEPA). For SWIFT transfers, however, an additional processing fee of GBP 20 will be charged for orders under USD 1,000. There is no charge for orders over 1,000 USD.
The following information is still good to know:
- Deposits are accepted in all major currencies, i.e. you can pay with your local currency. However, prices are always displayed in USD or EUR.
- The sale of Bitcoin Cash and other cryptocurrencies has been a new feature on Coinmama since June 2019 and now possible!
- The minimum amount (the minimum) for a purchase of Bitcoin is 60 USD (or the equivalent in EUR).
Buy Bitcoin Cash on Binance
Binance is one of the world’s largest and most popular exchanges, which is not only very secure, but also particularly user-friendly. Until recently (May 2019) it was not possible to buy Bitcoin Cash with Euro (or US Dollar) on Binance. This has changed. In addition to trading, you now also have the opportunity to buy Bitcoin Cash by credit card. We’ll show you both possibilities!
But first you have to register on Binance. To do this, click on this link (Binance.com) and register*. Unlike many other exchanges, you can verify your identity with Binance, but this is not mandatory. The limits per day are 2 Bitcoin, which corresponds to an approximate value of almost 14,000 euros at present. You can therefore use all functions of Binance without verification. However, it may be advisable to submit the necessary documents to reach a higher limit of 100 BTC.
Buy Bitcoin Cash by credit card
The menu item for the purchase of Bitcoin Cash by credit card can be found in the right part of the menu under “Funds” and “Buy with Credit Card“. Then you will see the following view. Here you have to select “BCHABC“. At this point, Binance uses a rather rare abbreviation for Bitcoin Cash. The “ABC” behind BCH stands for the developer group responsible for Bitcoin Cash.
It is important to know that Binance uses the third-party provider “Simplex” to process the purchase. In addition, verification of your identity is required (as opposed to when you “only” use the Exchange). The purchase process is relatively self-explanatory. In the following we have written a short summary of the individual steps:
- Choose “BCHABC” and the currency you want to pay in (Euro or USD).
- Fill in the fields with the personal data.
- Verify your email and phone number with a code.
- Go back to the website and click “Next” .
- Enter your credit card information.
- Upload your documents to verify your identity (front and back of your passport).
Before and after the purchase there are some things to keep in mind:
- The stated Bitcoin Cash amount is based on the current rate and is not final, but will be calculated later! However, if the rate changes by more than +/-2.5%, you will be asked to reconfirm the transaction by email from Simplex.
- Once the payment is complete, you can check your payment status and deposit history on Simplex.
- The Simplex fee is 3.5% per transaction or USD 10, whichever is higher.
- The daily limit is 20,000 USD per user. The monthly limit is 50,000 USD per user.
- The minimum amount for a transaction is currently USD 50.
How to trade Bitcoin Cash
If you already have Bitcoin (BTC), Ether (ETH), the Binance Coin (BNB), Ripple (XRP) or Tether (USDT), you can deposit them with Binance and exchange them for Bitcoin (BTC). We will show you how to exchange Bitcoin (BTC) for Bitcoin Cash (BCH).
If you own Bitcoin (BTC) on another exchange or wallet, you can send it directly to Binance’s wallet address. If you don’t own Bitcoin yet, you can buy BTC on Litebit. During the purchasing process, you simply enter the Bitcoin Wallet address of Binance so that Litebit can transfer the BTC to Binance immediately after the transaction has been successfully completed.
To find out the “Receive Address“, click on “Funds” in the navigation bar and then on “Deposits“. You can then enter BTC in the search field and select Bitcoin.
In the following field you will be shown a Bitcoin deposit address. You must enter this in the “Receive address” field on Litebit during the purchase process if you want to buy BTC on Litebit and then transfer it to Binance.
Once the Bitcoin have arrived on Binance, there are only two small steps left to purchase Bitcoin Cash on Binance. Next to the Binance logo in the top left-hand corner, there is the menu item “Exchange” and below it “Basic“. Select this menu item. Afterwards you get to the following overview (see screenshot below). In the search field (next to the red arrow (2.)) enter “BCH” for Bitcoin Cash and click on BCHABC/BTC (step 3).
The display below the price chart then changes. Now you see the following view (below the price chart):
First you have to decide what kind of purchase you want to make. You can choose between “Limit“, “Market” and “Stop-Limit“.
A limit order is an order placed in the order book at a limit price you specify. This means that the trade will only be executed when the market price reaches your limit price. If the market price does not reach the price you set, the limit order remains open. You can delete them at any time. A “limit” order should therefore always be used when you are not in a hurry to buy or sell or want to achieve a certain price.
In contrast, a market order is executed immediately at the current market price (see arrow number 4.). Accordingly, the market order is particularly suitable for beginners and investors who want to sell or buy quickly.
Since you want to sell your Bitcoin and get Bitcoin Cash for it, you have to use the right field “Buy BCHABC”. In the line “Amount” you enter how much Bitcoin Cash you want to buy. The “Price” line is preset with the “Market Price”, which indicates that you are buying at the market price. When you have entered everything, you can click on “Buy BCHABC”.
Normally within a few seconds you will see the Bitcoin Cash units on your Binance Wallet. As with Litebit, we recommend transferring the Bitcoin Cash to an external wallet. This will greatly increase the security of your Bitcoin Cash, as Binance has already been the victim of a Bitcoin hack in May 2019 (during which 7,000 BTC were stolen).
Buy Bitcoin Cash at bitcoin.com
Bitcoin.de is a German provider and one of the largest crypto exchanges in Europe where you can buy Bitcoin Cash. To register on bitcoin.de, click on this link which will take you directly to the registration page.
There you have to enter a username, your e-mail and your password. You must also agree to the terms of the platform. If you have successfully completed this, click on Register. You will then receive an email with an activation link that you have to click to activate your account.
Limits on Bitcoin.com
We recommend that you verify your identity immediately, otherwise you will have a trading limit of 2,500 Euros per year and a maximum of 1,000 Euros per transaction. The identity procedure is quickly completed. Simply click on the “Initiate Identification” button. The confirmation of your data usually does not take longer than 24 hours. Then you can start right away and buy Bitcoins. Of course you can continue without identification, but you will be subject to the restrictions mentioned above.
To increase the security of your account, we also recommend enabling 2-factor authentication. This effectively protects you against hacker attacks and fishing emails.
The buying process at bitcoin.de
To buy Bitcoin Cash, click on the “Marketplace” tab. Then the half of the screen with “Buy” is important.
In order to buy Bitcoin Cash immediately (express trading), it is necessary that you have created an account with Fidor-Bank. If you buy Bitcoin Cash now, your account will immediately be debited with the corresponding amount and the Bitcoin Cash will immediately be credited to your wallet.
If you have not set up a Fidor bank account, the purchase is a bit more complicated and much slower, so we cannot recommend this option to you. If you still decide to buy, the purchase works as follows: You choose a suitable offer, how much Bitcoin Cash you want to buy. It is recommended to trade with fully identified users. You can recognize them by the green tick symbol.
When you have found a perfect offer, click on “Buy”. You will then be taken to the bottom, where you will find further instructions. You must transfer the corresponding amount to the seller’s bank account. Usually it takes about 48 hours until the seller has received the corresponding amount in Euro and transfers the Bitcoins to you.
If you have transferred the corresponding amount and the seller has received the amount, the Bitcoin Cash will be credited to your bitcoin.de Wallet. You can theoretically store the Bitcoin Cash there permanently. However, for security reasons it is better to store them on a desktop wallet or a hardware wallet such as the Ledger Nano S or Trezor.
If you want to send the Bitcoins to an external wallet you have to click on “my Bitcoin.de” and then on deposits / withdrawals. Then select BCH above and click on “Payout”. Fill in all required fields, how much you want to withdraw and enter a receiving address. The receiving address is the Bitcoin Cash address of your external wallet or your Ledgers / Trezor Hardware Wallet as described above. To withdraw your Bitcoin Cash, you will need to re-enter your password.
When all this is done, you can click on “Withdraw” and the Bitcoin will usually be transferred to your wallet within a few minutes.
Best Bitcoin Cash wallet: Bitcoin.com
When using a wallet, we have had very good experiences with the Bitcoin.com wallet. We will show you briefly how to download and use it. First you have to go to the official site and download the wallet. If you click on this link (click!) you will get to the website where you can download the wallet.
Now you have to decide if you want to download the desktop or the smartphone version of the wallet. We’ll show you how to set up and use the smartphone version of the Bitcoin Cash Wallet from Bitcoin.com. Depending on your smartphone’s operating system, you may need to download the Android or Apple version from the Google Play Store or App Store.
Don’t let yourself be fooled by the partly bad evaluations of the app. These were awarded because the manufacturers of the app promote Bitcoin Cash as “true Bitcoin” and refer to Bitcoin (BTC) as “Bitcoin Core”. You must be aware that the Bitcoin.com website is owned and operated by Bitcoin Cash followers. So don’t be fooled! The app works technically flawlessly from our experience.
The great thing about the app is that it’s super easy to set up. Once you’ve installed the app, you’re ready to send or receive Bitcoin Cash. However, we strongly recommend that you make a backup first. In case your smartphone breaks down or you switch to a new smartphone, you can use it to restore your old account!
If you are in the app under the menu item “Receive” and have not yet created the backup, you will receive a warning message “Wallet not saved”. Click on it to create the backup. Then you’ll see your seed. This sequence of 12 words is your key to the wallet if you lose your password or change your smartphone. It is extremely important that you write down the 12 words safely somewhere, preferably on a piece of paper which you keep safe. In the next step you will be asked to enter the seed again. If you have also done this successfully, your wallet is backed up.
Via “Receive” you can now receive Bitcoin Cash. The “Receive Address” you had to enter at Litebit can be found under the Barcode. You can copy this address and enter it at Litebit, or another Bitcoin Cash Broker or a cryptocurrency exchange as your “Receive Address”.
Please rate our purchase instructions here:
If you have any questions, feel free to write us a comment, we will be happy to help you!