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How to buy Bitcoin Diamond (BCD)
Learn how to buy Bitcoin Diamond (BCD) in our step-by-step guide.
You can buy Bitcoin Diamond (BCD) on a cryptocurrency exchange like Paybis. These specialized marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Sporting the tagline “Better bitcoin”, Bitcoin Diamond (BCD) was launched in November 2017 and promised to offer faster transactions, lower transaction fees and increased privacy compared to its older sibling. Here's how to buy Bitcoin Diamond.
How to buy Bitcoin Diamond in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Bitcoin Diamond is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – bank transfer, debit card, neteller and credit or debit card payments are widely accepted.
Buy Bitcoin Diamond
You can now exchange your funds for Bitcoin Diamond. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Bitcoin Diamond to your personal wallet.
Where to buy Bitcoin Diamond
Find an exchange to buy, sell and trade BCD by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Bitcoin Diamond?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Bitcoin Diamond?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Bitcoin Diamond.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing BCD with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Bitcoin Diamond with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy BCD with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy BCD on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase BCD by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for BCD on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Bitcoin Diamond?
The easiest way to buy BCD is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying BCD, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Bitcoin Diamond has been performing recently.
Best Bitcoin Diamond wallets to store your BCD
You can keep your BCD on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Bitcoin Diamond a good investment?
You’ll need to understand the factors that can potentially influence the price of BCD, as well as the risks involved in buying digital currency, before making a purchase. If you want to buy BCD, make sure you consider the following factors.
- Anonymous team: The team behind Bitcoin Diamond has so far remained anonymous, which is far from unusual for a cryptocurrency project, but which may raise red flags for some prospective buyers. The creators are currently credited as Teams Evey and 007, and the ‘Our Team’ page on the Bitcoin Diamond website is empty.
- Bitcoin competition: There has been quite a large number of Bitcoin forks since its inception in 2009, and this in itself presents issues with accessing a share of the market. Additionally the differences between Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond and all the other similarly named coins can be confusing and even overwhelming for crypto newcomers, which could potentially affect the uptake of BCD.
- Criticism: Bitcoin Diamond has been a controversial coin ever since its release in 2017. For starters, some pundits were convinced the network is simply a scam. Others believed that, while not a scam, the function of the network isn’t very useful and the creators are just trying to make a buck off the prestige of the Bitcoin name.
Additional information about Bitcoin Diamond can be found using our BCD analysis tools.
Today's Bitcoin Diamond price versus ATH
Compare today's price of Bitcoin Diamond ($0.169438 USD) against its all-time-high price of $147.18 USD on 13 January 2018. The closer the bar is to 100%, the closer BCD is to reaching its ATH again.
ATH date: January 13, 2018
Bitcoin Diamond ATH: $147.18
How to trade, convert or sell Bitcoin DiamondYou can convert or sell your BCD with the same exchange you bought it through:
- Sign in to the exchange you have BCD on.
- If you store your Bitcoin Diamond in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of BCD you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Bitcoin Diamond.
- Complete your transaction and move your BCD to a wallet for storage.
Disclaimer: Cryptocurrencies, including Bitcoin Diamond, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BCD is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Bitcoin Diamond or any other cryptocurrency discussed.
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