What is Bitcoin Cash (BCH)?
Bitcoin Cash is a version of the original Bitcoin network configured to be easily used for everyday transactions. Although the Bitcoin Cash blockchain is based on the original Bitcoin blockchain, it has some notable differences. A major one is its increased maximum block size of 32MB, compared to just 1MB on Bitcoin. This allows Bitcoin Cash to process transactions faster than Bitcoin, with lower fees and an increased per-second transaction capacity. You can buy and sell BCH for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade BCH for BTC the same way you trade CAD for USD. You can also trade BCH to CAD based on the BCH price. To learn how to buy Bitcoin Cash / BCH, scroll down to see how to buy Bitcoin Cash.
How to buy Bitcoin Cash (BCH)?
Here's how to buy Bitcoin Cash on Coinsquare
To buy Bitcoin Cash, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying BCH. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select BCH from the list on the trade section
Coinsquare lets you trade BCH without leaving the app. You can also check the Bitcoin Cash price and convert BCH to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the BCH price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Bitcoin Cash (BCH)
Congratulations! You’re now the proud owner of BCH. You can either HODL or use it to exchange BCH to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Bitcoin Cash (BCH)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Bitcoin Cash (BCH) to your portfolio?
Create your account, fund it with spare change and get a little bit of BCH.
