|Total BCH supply||21,000,000|
|All time high||US$3,785.82|
|All time high date||December 20, 2017|
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Bitcoin Cash (BCH): How to buy, sell or trade
A beginner’s guide to buying, selling and trading Bitcoin Cash in the Philippines.
How to buy Bitcoin Cash
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Bitcoin Cash.
- Open an account on an exchange that supports BCH.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Bitcoin Cash.
- Buy Bitcoin Cash.
Complete your Bitcoin Cash purchase and then find the best wallet to store BCH.
What is Bitcoin Cash?
Bitcoin Cash (BCH) is a fork of Bitcoin (BTC), which means it is similar but different to the original. Bitcoin Cash arose due a disagreement between various Bitcoin stakeholders, who wanted to take the protocol in different directions. As a result the blockchain forked, resulting in two separate blockchains and cryptocurrencies. Bitcoin received the majority of community support and held onto the name, while Bitcoin Cash established itself as a competitor. Bitcoin Cash is designed to facilitate faster and cheaper transactions than Bitcoin.
Bitcoin Cash (BCH) is the 12nd largest cryptocurrency in the world by market cap, valued at US$8,557,741,505. The current price of Bitcoin Cash is US$456.56, which is -2.108% lower than yesterday. Prices have ranged between $474.94 and US$443.44 over the past 24 hours. All prices are listed in US dollars and accurate as of July 16, 2021 10:07 UTC.
Where to buy Bitcoin Cash in the Philippines
Find an exchange to buy, sell and trade BCH by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Bitcoin Cash at a Glance
Information last updated July 18, 2021 01:07 UTC.
How to sell Bitcoin Cash
If you want to sell your Bitcoin Cash, you have the option of exchanging it for either crypto or fiat currency. Once again, you’ll need to click through to the trading page on your chosen exchange, but this time you’ll need to make sure you enter your transaction details in the “Sell” rather than “Buy” field.
You should also be aware that BCH isn’t listed in the same extensive range of trading pairs as digital currencies like bitcoin and Ethereum, so you may not be able to directly trade your coins for the currency you want.
Which wallets can I use to hold Bitcoin Cash?
Once you’ve successfully purchased Bitcoin Cash you’ll need to find a safe place to store your coins. While you can keep BCH in your exchange wallet if you wish, the fact that you don’t control the keys for this wallet and exchanges are regularly targeted by hackers means that it’s not recommended.
Instead, choose a secure wallet that gives you full control over your crypto assets. There are myriad options available if you’re looking for a Bitcoin Cash wallet, including:
- Hardware wallets like the Ledger Nano S and TREZOR
- Mobile wallets like Coinomi
- Multi-platform wallets like Jaxx
How Bitcoin Cash works
Bitcoin is the world’s oldest and most widely recognized cryptocurrency, but as more and more people have started using the bitcoin network, scalability problems have reared their ugly head. With slow transaction times and high fees plaguing bitcoin, the community couldn’t agree on the best way to improve network scalability – some wanted to increase the size of blocks in the blockchain, others wanted to restructure the way data was stored in existing blocks.
When consensus couldn’t be reached, Bitcoin Cash was created from a hard fork of bitcoin in August 2017. With an aim to offer a more practical version of peer-to-peer electronic cash, Bitcoin Cash increased bitcoin’s block size from 1MB to 8MB, and the network now supports blocks of up to 32MB. The Bitcoin Cash mining difficulty also varies depending on how many miners are active on the network.
The result of these changes are that Bitcoin Cash offers lower transaction fees and faster processing times than bitcoin – features which BCH supporters believe make it a much better choice as a transactional currency.
What to consider before you buy Bitcoin Cash
Buying cryptocurrencies is risky. Digital currencies are complicated and speculative assets, and there are multiple factors that can have an effect on the value of any coin or token. Make sure you research and understand the driving forces behind crypto price movements before making a purchase.
If you’re thinking of buying Bitcoin Cash, consider the following factors:
- Supply. According to CoinMarketCap, the circulating supply of Bitcoin Cash was 18,792,818.75 BCH, as of July 2021. The currency’s maximum supply is capped at 21,000,000.
- Distribution. When the hard fork occurred, Bitcoin Cash coins were distributed to all bitcoin holders at a 1:1 ratio.
- Bitcoin performance. Bitcoin’s price movements are known to have a direct effect on the cryptocurrency market as a whole. Add to this the many links between BTC and BCH and it becomes clear just how important it is to follow bitcoin’s performance if you’re thinking of buying BCH.
- Dwindling usage. Data from blockchain research firm Chainalysis of payments received by 17 of the largest cryptocurrency merchant processing services worldwide revealed that Bitcoin Cash payments diminished by almost two thirds (-65%) between March and May 2018. However, it’s worth pointing out that bitcoin experienced an even larger usage drop (~85%) during the same period.
- Concentrated ownership. The same study mentioned in the point above also revealed that more than half (56%) of all Bitcoin Cash is controlled by just 67 digital wallets not located on exchanges.
- Capabilities. During stress tests conducted in September 2018, Bitcoin Cash showed it was capable of handling up to 25,000 transactions per block. This equates to around 40 transactions per second (tps), which is well above bitcoin’s maximum capacity of around 7.
- So many bitcoins. Bitcoin Cash is one of several bitcoin forks to include bitcoin in its name, with others including Bitcoin Diamond and Bitcoin Gold. Forked coins are viewed with skepticism by many crypto enthusiasts, while there’s also the risk that the sheer number of bitcoin variants available confuses and reduces the number of potential buyers.
- Competition. Even this mark of 40tps is well below some other cryptocurrencies. For example, XRP can handle 1,500tps and has consistently lower fees than BCH. So while Bitcoin Cash offers some clear benefits over bitcoin for use as an everyday transactional currency, it will also need to overcome fierce competition from other payment coins.
Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.
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