Bitcoin Cash (BCH) remains one of the mainstream cryptocurrencies in the crypto world. As Bitcoin's "crown prince," BCH showed modest performance recently, with a $25 rally post-Grayscale's bullish moves. However, it fell short of expectations, sparking debates about its potential. Despite criticisms, investors hold hope for BCH to reclaim its former $4,125 peak.
Below is a step-by-step guide to buying and selling Bitcoin Cash (BCH), tailored for both beginners and seasoned traders.
Where to Buy Bitcoin Cash (BCH)?
Multiple exchanges support BCH trading, including OKX, Binance, and Huobi. Here’s how to purchase BCH on OKX:
Method 1: Quick Buy
- Log in to OKX and navigate to Buy Crypto.
- Select BCH and choose your payment method (credit/debit card or bank transfer).
- Enter the amount and complete payment. Confirm receipt to release funds.
👉 Start trading BCH instantly on OKX
Method 2: P2P Trading (Advanced)
- Go to Peer-to-Peer Trading under the Trade tab.
- Filter BCH orders by price/payment method and select a seller.
- Transfer funds to the seller’s account and confirm receipt to release BCH.
How to Sell BCH
- Transfer BCH to your P2P account.
- Bind a verified bank card (must match your OKX KYC details).
- Create a sell order or accept existing bids. Confirm buyer payments before releasing BCH.
Is Bitcoin Cash (BCH) a Good Investment?
BCH diverged from Bitcoin (BTC) in 2017 to address scalability:
- 8MB Block Size: Faster transactions vs. BTC’s 1MB limit.
- Dynamic Difficulty Adjustment: Ensures consistent processing speed.
- Lower Fees: Ideal for microtransactions.
Challenges:
- Adoption: BTC’s dominance limits BCH’s liquidity.
- Past Forks: The 2018 split creating Bitcoin SV (BSV) raised decentralization concerns.
FAQ
1. What’s the difference between BTC and BCH?
- BCH increased block size for faster transactions, while BTC prioritizes Layer-2 solutions like Lightning Network.
2. Which wallets support BCH?
- Trust Wallet, Ledger, and Trezor are popular choices.
3. Can I mine BCH?
- Yes, using SHA-256 miners like Antminer S19.
4. Why did BCH split from BTC?
- Disputes over SegWit adoption and block size led to the 2017 hard fork.
5. Is BCH decentralized?
- While it aims for decentralization, past forks like BSV highlight governance challenges.
👉 Explore BCH trading strategies on OKX
Final Notes: BCH offers technical advantages but faces adoption hurdles. Diversify research and use trusted platforms like OKX for secure transactions.