Bitcoin Cash is a prominent cryptocurrency that was released in August 2017 as a hard fork of Bitcoin. It is extensively traded through various exchanges and has a phenomenal current market cap of more than $8 billion. This article looks at the definition of Bitcoin Cash and which top exchanges allow you to buy Bitcoin Cash among other cryptocurrencies.
What is Bitcoin Cash?
Bitcoin Cash was created to address the limitations of Bitcoin – transaction speed and block size. Once it was launched, many members of the cryptocurrency community took Bitcoin Cash with a grain of salt and quickly labelled as the most controversial cryptocurrency. Some named it “the true Bitcoin”, others believed it was “a downright scam”. Opinions differ, but it would be safe to say that Bitcoin Cash is here and it is striving for superiority.
Where is Bitcoin Cash traded?
Cryptocurrency exchanges are comparable to FOREX currency exchanges. A FOREX exchange facilitates buying and selling of foreign currency such as USD, Pounds, Euros, and CAD. Cryptocurrency exchanges alternatively allow you to trade cryptocurrencies such as Bitcoin, Litecoin, Dash, Bitcoin Cash and Ethereum.
Cryptocurrency exchanges provide a constant stream of information relating to cryptocurrency prices so that you can analyze trends and look at price fluctuations. Furthermore, you can purchase cryptocurrencies using fiat currency and also trade them against other cryptocurrencies. For example, you could purchase Bitcoin Cash with USD, and then trade that Bitcoin Cash for Ethereum.
Top 3 cryptocurrency exchanges
Now that you understand a little about Bitcoin Cash, we can discuss the top 3 exchanges that allow you to trade this cryptocurrency. It should be noted that not every cryptocurrency exchange facilitates buying and selling of Bitcoin Cash as it is still relatively new. As time progresses, more exchanges will offer this service. The following three exchanges are the top-rated platforms for trading Bitcoin Cash:
- Cryptocurrencies Supported: BTC, XRP, BCH, ETH, ZEC, XLM & DASH
- Fiat Currencies Supported: USD, RUB, EUR and GBP
- Deposit Fees: Instant Buy – 7%, Visa & MasterCard – 3.5%, Bank Transfer – 0%
- Withdrawal Fees: Variable
- Payment Methods currently accepted: Visa, SEPA, Mastercard, Bank Transfer
- Special Offers: Affiliate program – earn up to 30% on transactions made by the invited users
Platform Layout – CEX.IO is an advanced trading platform that has a superb design. The most relevant cryptocurrency prices are listed constantly at the top of the website. Furthermore, you can easily access market data and view price graphs for a predefined period of time. The price information updates in a live feed and CEX.IO uses color indicators to show decreases and increases – a simple but nice touch.
Platform Review – CEX.IO is one of the most popular platforms available, and it covers a wide array of cryptocurrencies. You can buy and sell cryptocurrencies using fiat currency, and you can also trade cryptocurrency pairs. The withdrawal and deposit methods are simple, and the transaction fees are minimal – this is essentially a multifunctional service that is perfect for both beginners and advanced traders. Finally, CEX.IO also offers a leveraging service, i.e. you can purchase more cryptocurrency than you can afford with ratios of 1:2 and 1:3 on the most popular crypto pairs.
- Cryptocurrencies Supported: BTC, Litecoin, ETH, Bitcoin Cash
- Fiat Currencies Supported: EUR, USD, GBP
- Deposit Fees: Variable
- Withdrawal Fees: Variable
- Payment Methods Accepted: Credit Card, Debit Card, Bank Transfer
- Special Offers: receive a $10.00 bonus for each $100 trade completed by the referred user
Platform Layout – Coinbase has an easy to use layout and a simple website design. The current cryptocurrency prices are clearly displayed and you can easily access historical price charts. You can literally find all the information you require within a few clicks. To log in, you must use a two-step verification process.
Platform Review – Coinbase is a giant within the crypto trading scene. Coinbase provides a trading platform for consumers, institutions, advanced traders, and businesses through its spinoff Coinbase Pro. For a novice user, their interface is quite user-friendly – you can buy and sell cryptocurrencies quickly. The only downside we found was the relatively small number of cryptocurrencies traded. In comparison to CEX.IO for example, Coinbase only has 4 available cryptocurrencies, which may not appeal to advanced traders. They do have a mobile app that also uses two-factor authentication.
- Cryptocurrencies Supported: BTC, BCH, ETH, LTC, TRX plus over 80 more
- Fiat Currencies Supported: N/A
- Deposit Fees: None
- Withdrawal Fees: Variable
- Payment Methods Accepted: Cryptocurrency
- Special Offers: N/A
Platform Layout – Binance is generally considered a more advanced trading platform. You can switch between a basic and advanced layout – both provide a huge array of information relating to price trends and cryptocurrency pairs. The main trading screen itself shows hourly graphs and available transactions from other sellers and buyers.
Platform Review – Binance is a pure cryptocurrency trading platform and has no support for Fiat Currencies. If you want to trade using this platform, you must first purchase an initial stock of cryptocurrency elsewhere. This platform is one of the most functional and advanced, and the amount of statistical data and live feeds is simply awesome. The platform makes it easy to monitor trends and you can even select favorite pairs to refer back to them quickly. In terms of supported currencies, Binance has the most extensive library with over 80 different cryptocurrencies, including Bitcoin Cash.
As you can see, the above three platforms have a wealth of options for trading Bitcoin Cash. Each platform offers virtually instant transactions and live price updates. Furthermore, the platforms are secure, and your card details and personal information will remain safe. Why not sign up to one of these platforms and start trading cryptocurrencies?