Bitcoin Cash is among the seven popular crypto coins this year. As a result, many new people start investigating this coin and analyze whether they have to include it in their portfolio or not. In this article, we’ll discuss the most popular methods of investment in this coin and in the end, you’ll define your way to purchase BCH.
Why is it worth buying BCH?
Before exploring the best methods of purchasing the BCH, it’s important to understand whether this investment is a worthy one. BCH is much cheaper than Bitcoin, but its price increased in the recent period following its big farther’s trend. In the long run, it has good investment perspectives as it has a powerful and reliable blockchain. In addition, BCH is frequently used in online payments as many online stores accept it. It can be easily exchanged both for fiat currency and other commodities, which makes it a reliable form of payment.
What is the best paying method for BCH
Bitcoin Cash can be bought through several popular methods. Each of them has specific pros and cons. Various types of investors across the world will choose different methods. The choice of the form of payment significantly depends on your location and amount of investment.
Buying of BCH with PayPal
If you’re located in the USA you’ve probably used PayPal multiple times and this might be a good choice for you. But, please keep in mind that not all exchanges accept PayPal payment and its fees are somewhat higher than through other methods of payments. Nevertheless, it’s very convenient, and many investors choose PayPal. If you’re located outside the USA check the availability of PayPal as a form of payment in your country.
The bank transfer is the other possibility, but it does not mean that all exchanges accept it. The form of payment is also time-consuming and expensive. We do not recommend it for the minded investor
Buying BCH with a banking card
Credit or debit cards are the most popular forms of payment for BCH, as they are the most convenient. Nevertheless, the fees might be significant, hence pay attention to the commissions.
Purchasing Bitcoin Cash with another crypto
If you’re not a newcomer to the crypto world, you have a certain crypto portfolio and can buy BCH through other cryptos. Bitcoin Cash is a relatively new currency and you might find it a perspective member of your future portfolio. If you believe in BCH development you can exchange it for other currencies at your preferred crypto exchange.
Let’s imagine you care about the security of your crypto operations and have a significant amount of Monero within your crypto portfolio. You’d heard the BCH can be used as a substitute for Monero in some operations and would like to diversify your portfolio. In such a case, you have to compare xmr to bch exchange rate at different crypto exchanges and choose the one fitting your requirements.
Final thoughts on BCH investment
BCH is one of the new cryptocurrencies available to investors. Nevertheless, in 2020 it demonstrated a rocket growth and attracted the attention of many people. If you’re planning to invest in BCH remember about the risk. If you buy it to earn through trading, remember that other people have to be willing to buy it from you. That’s the only reason why you might earn money. The other thing is if you want to make transactions with BCH at online stores, on the dark web, or want to use it for portfolio diversification. If you have such intentions in mind, it might serve as a convenient form of payment or a good long-term investment.