Bitcoin Cash (BCH) ranks as the 15th largest cryptocurrency by market capitalization, currently valued at $10.16 billion USD**. Known for its volatility, BCH has seen significant price fluctuations—today trading at **$511.39 USD, down from yesterday’s $522.16 USD. Over the past year, its price has increased by 34%.
Before investing, understand the unique risks associated with BCH, including its legal and tax implications in Canada. Ready to proceed? Follow this step-by-step guide to purchase Bitcoin Cash securely.
How to Buy Bitcoin Cash in 5 Steps
Requirements: A smartphone/computer, internet connection, photo ID, and payment method.
Compare Crypto Exchanges
- Use a reputable cryptocurrency exchange. Prioritize features like low fees, user-friendly interfaces, and customer support.
Create an Account
- Verify your email and identity (photo ID and phone number required).
Deposit Funds
- Fund your account via bank transfer, credit/debit card, or cryptocurrency.
Buy Bitcoin Cash
- Enter the CAD or BCH amount and execute the trade.
Secure Your BCH
- Transfer to a personal crypto wallet for enhanced security against exchange risks (hacks, scams).
👉 Compare top crypto exchanges for BCH
Where to Buy Bitcoin Cash in Canada
Evaluate exchanges based on:
- Supported deposit methods (bank, card, crypto).
- Fees and fiat currency options.
Tip: Use the Finder Score (rated out of 10) to compare 28 trading platforms based on coins, fees, and features.
What Is Bitcoin Cash?
BCH is a fork of Bitcoin (BTC) created due to a community disagreement over transaction scalability. Key differences:
- Faster/cheaper transactions (32MB blocks vs. Bitcoin’s 1MB).
- Separate blockchain since August 2017.
How to Choose the Best Exchange
Consider these factors:
- Fees: Trading, withdrawal, and deposit costs.
- Payment Methods: Bank transfers, cards, or crypto.
- Regulation: Check for registration with Canadian authorities.
👉 Find the best BCH exchange for your needs
What You’ll Need to Buy BCH
- Email address and phone number.
- Photo ID for KYC verification (required for fiat deposits).
- Enable 2FA for account security.
Best Ways to Buy Bitcoin Cash
- Bank Transfer: Low/no fees but slower processing.
- Credit/Debit Card: Instant but higher fees (~3–5%).
- Cryptocurrency: Trade BTC or stablecoins for BCH.
Easiest Way to Buy BCH
Use an instant buy feature (fixed price) or trade on the spot market (set your own price).
Pro Tip: Check all-time high data to gauge market trends.
Storing Your Bitcoin Cash
Options:
- Exchange Wallets: Convenient but less secure.
- Hardware Wallets: Most secure (e.g., Ledger, Trezor).
- DeFi Wallets: For advanced users interacting with decentralized apps.
Is Bitcoin Cash a Good Investment?
Risks:
- Not Bitcoin: BCH is a distinct asset with different tech.
- Adoption: Usage dropped 65% in Q2 2018 (per Chainalysis).
- Competition: Faces rivalry from BTC and other forks (e.g., Bitcoin SV).
Strengths:
- Scalability: Handles 40+ transactions/second (vs. Bitcoin’s 7).
- Low Fees: Ideal for microtransactions.
Today’s BCH Price vs. All-Time High
- Current Price: $511.39 USD.
- ATH: $3,785.82 USD (Dec 20, 2017).
How to Sell or Trade BCH
- Log in to your exchange.
- Select Sell/Convert.
- Enter the BCH amount and confirm fees.
- Transfer proceeds to your bank or wallet.
FAQs
1. Is Bitcoin Cash the same as Bitcoin?
No—BCH is a fork with larger blocks for faster transactions.
2. What’s the cheapest way to buy BCH?
Bank transfers typically have the lowest fees.
3. Can I buy BCH anonymously in Canada?
No. Exchanges require KYC verification for fiat purchases.
4. How do I secure my BCH long-term?
Use a hardware wallet for offline storage.
5. What’s the future of Bitcoin Cash?
Uncertain. Monitor adoption rates and developer activity.
Disclaimer: Cryptocurrencies are volatile and high-risk. This content is not financial advice.