The best place to buy and store Bitcoin Cash (BCH)

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The Best Place to Buy and Store Bitcoin Cash (BCH)

Bitcoin Cash (BCH) can be bought with many different types of digital currency and then stored in digital wallets. There are many digital wallets available to purchase and store BCH. What is more, you can always choose between online wallets and hard-drive wallet devices to store your digital coins. However, the best place to buy Bitcoin Cash (BCH) is at a Binance-powered exchange for the time being. According to CoinMarketCap, Binance is the world’s top exchange. It’s also the best place to store your BCH for immediate liquidity at any moment — and the more you buy, the cheaper your BCH is (assuming you want to sell your BCH).

General Info About the Platform

Binance is one of the largest exchanges in the world, which started operating in 2017. At the time of writing, it is the 8th largest exchange in the world, according to CoinMarketCap. Binance is known for its fast and easy-to-use exchange service, and that is exactly what makes it one of the best places to buy cryptocurrency.

Binance has three types of accounts — free, paid, and premium. Each type of account has different features that offer different services. For example, if you are looking to make money through Binance, then you are going to need a premium account. But if you just want to get the basic services, the free accounts will be fine. 

Here are some of the key features of Binance that we want to look at. We want to make sure that we understand what each feature offers and whether we need it or not.

1 — General Binance Fees

One of the things that we need to look at is the trading fees. Binance has two different types of fees. The first is a trading fee, and the second is a withdrawal fee. The trading fee is shown in the top right-hand corner, while the withdrawal fee is shown on the left-hand side.

The trading fee is calculated on a per-transaction basis. So, if you are trying to make a large volume of transactions, you might need to pay a higher trading fee to Binance. The withdrawal fee is a flat fee, and it does not change based on the amount you are trying to withdraw. The trading fee is 5.0%, and the withdrawal fee is 1.0%. As of now, the exchange is not offering a discount for people who are buying Bitcoin Cash (BCH) using Binance.

2 — Special Fees and Spread

There are three types of fees on Binance. There is the trading fee, the withdrawal fee, and the interest fee. The trading fee is 5.0%, which is the same as Binance’s exchange. The withdrawal fee is 1.0% of the transaction amount, and the interest fee is set at 0.5% on your BTC and BCH balances. So, if you have a BTC balance of 100.0 USD, the interest fee will be 5.0 USD. And if you have a BCH balance of 100.0 USD, then the interest fee will be 1.0 USD.

The trading fee is set the same for both BCH and BTC. The withdrawal fee is much lower for Bitcoin Cash (BCH) compared to other exchanges. If you are transferring large amounts of money, then you are going to need to check the fees and spread on Binance. Since they are the largest exchanges in the world, it is important to understand what they are offering so you can compare them to other exchanges. 

For people looking to buy and store Bitcoin Cash (BCH), here is a step-by-step guide on how to buy and store Bitcoin Cash (BCH) using Binance.

Step-by-Step Guide to Buy Bitcoin Cash (BCH) using Binance

The first step in this guide is to go to Binance’s website. Once you land on the first page of the exchange, you will be shown a list of trading pairs. On the left-hand side, you can see the BCH/BTC trading pair and a cryptocurrency overview. It is very similar to the BTC/USD (USA/EN) trading pair on Coinbase. 

Scroll down to the bottom of the page, and on the left-hand side of the page, you will see two different options to buy Bitcoin Cash (BCH). The first option is to buy BTC directly. But since you are going to be purchasing Bitcoin Cash (BCH) instead, you will have to go to the bottom right-hand corner and change the pair into the BCH/BTC trading pair.

The second option is to buy BTC through Binance. This is the one that many recommend since you will get a great exchange cryptocurrency rate that will help you to make more profit in the long run. The second step is to choose the amount of BTC you want to purchase. The minimum amount is 1.0 BTC. But if you are trading using this for the first time, it is recommended that you choose 1.5 BTC. 

The third step is to move from BTC to BCH. This can be done in two ways. You can go back to the Binance website, navigate to the top right-hand corner, click on the “BTC” icon, and then go to the “BCH” part. The second way to do this is by clicking on BTC, then the menu on the top left-hand corner, and selecting the BCH trading pair.