Why to Buy Bitcoin Cash
Bitcoin is known to be the second largest cryptocurrency in the world. It is expected that the price of Bitcoin will increase steadily in the next few years. The increase in Bitcoin’s value may have stemmed from the removal of Segwith2X fork.
There are a lot of people who are interested in cryptocurrencies but they do not know a lot of details about it. There are different improvements done over the past years and there is a big chance that you will not find it hard to purchase BitcoinCash anymore.
There are so many cryptocurrencies available so why do people choose Bitcoin Cash out of all the rest? This is because of the low fees that people have to pay in order to maintain the amount that they have. Bitcoin Cash (BCH) is also expected to thrive more in the long run which means that people will get more returns in the future. Everyone is welcome to be a part of the Bitcoin community and a lot of people are enticed to join because of this.
Even before you purchase, it is best that you know the disadvantages and the advantages of purchasing BCH. This way, you will know how it can help you.
The Advantages of Bitcoin Cash
These are just some of the advantages that you can get when you purchase bitcoins:
- You will be able to exchange funds from virtually anybody in the world. You do not need to transfer the money through a bank account or another merchant. This means that you do not have to spend any amount on fees.
- You can transfer BCH without having to provide personal information which can make it safer compared to other payment methods. This means that you do not have to worry about your identity getting stolen.
- Bitcoin amount is expected to increase in the years to come. Things are always uncertain especially when it comes to money but so far, the current value of Bitcoin is expected to increase in the years to come.
Another benefit that can be received is you would be able to send and receive the amount of money that you get immediately. There is no waiting time anymore unlike when you choose other merchants.
It is evident that Bitcoin are considered to be one of the best things to invest on especially if it fully blooms in the years to come but you should still know the possible disadvantages you may get when you decide to invest on it such as the following:
- It is still prone to getting hacked. Bitcoin is aware that hackers target their website every day and they are always working on improving their defenses but there is still no guarantee that your account will not be stolen in the future.
- The price may fluctuate wildly. The price may be on its all-time high today but tomorrow is going to be a different story. You need to time exactly when you are going to sell to be sure about what you are going to get.
- Some businesses do not thrive when they start offering Bitcoin to their customers. If you are a business owner, it may be best if you stay away from offering Bitcoin.
Now that you are already aware of the advantages and disadvantages of purchasing Bitcoin Cash, you have to know how you are going to purchase it so that you will be able to buy from the right sources. You do not want to end up getting scammed, right? Take note that there are different ways you can buy BitcoinCash. Know the methods and choose the one that works best for you.
Ways to Buy Bitcoin Cash
Purchase with Cash
You can look for a seller within your area that is selling BCH for actual cash. You need to select the amount of cash that you want to purchase then you will place an order immediately. You will receive the account number from the seller that you have purchased the BCH from. Send the corresponding amount then receive the Bitcoin Cash. Take note that you need to have your Bitcoin wallet ready so this is where the coins will be received.
Let us say that you do not want to meet up with the Bitcoin Cash seller in person. You can purchase online. There are some websites that allow sellers to sell BCH in limited countries only so make sure that you find one from your specific country otherwise you may have some issues with the seller. You can do the following:
- Find the right seller. You can discuss with different sellers what the price of the bitcoin is going to be.
- Make a cash deposit. You still need to send your money through the account that the seller has provided.
- Send the receipt or the deposit slip that will be issued by the seller’s bank. You can scan the slip and upload it for the seller to see.
- Your new BCH will be released to you. Once again, it is best if you already have a wallet ready so that the Bitcoin Cash will go straight there.
There are a lot of people who like this method more than the others because this does not take a long time.
If you want to purchase through an actual store, this is also possible. You need to have your identification cards ready because you have to prove your identity before you will be allowed to purchase. The maximum amount that you can purchase for Bitcoin is up to $1000. You just need to make a payment through the retail store and you will be receiving the Bitcoin Cash after a few minutes. This is surely fast and convenient.
Now that you have learned different details about Bitcoin Cash and how you are going to purchase it, it is best that you choose the one that works best for you. It will make a lot of difference that way.