6 min read

🦲 How to Buy Bitcoin Cash (BCH) in UK?

Bitcoin cash logo

Even though Bitcoin Cash has been around for a few years and it is one of the most popular coins, it still can be a challenge to buy Bitcoin Cash in the UK with GBP. In this guide, I would like to share a few options on how and where you can use your credit card or a bank transfer to buy BCH with GBP.

Here is a quick guide on how to buy Bitcoin Cash on one of the biggest exchanges:

  1. Create your account with a cryptocurrency exchange like Binance.
  2. Verify your account.
  3. Make a deposit.
  4. Choose BCH from the currencies section.
  5. Enter the amount you want to buy.
  6. Check the details of your transaction.
  7. Confirm the purchase.

Bitcoin Cash crypto

Bitcoin Cash was launched in August 2017 as the younger brother of BTC. What does it mean?

In other words, Bitcoin Cash is a hardfork of Bitcoin. It is the only currently known method for developers to update Bitcoin software. Developers split the network and essentially create a new Blockchain with altered rules. The original and the forked version of the cryptocurrency have identical Blockchains all the way up to the block when the split occurred. From there on, the two networks exist independently.

Why was it necessary to split the original Bitcoin?

Its overall goal was to increase the number of transactions that can be processed by the network, hoping that Bitcoin Cash will be able to compete with the volume of transactions that industry giants like PayPal and Visa can currently process.

Bitcoin cash transactions per second

BCH is a completely independent cryptocurrency, so its price does not depend on that of the original BTC. However, it is important to note that Bitcoin is still the world’s dominant cryptocurrency, so if it goes up or down, the absolute majority of other cryptocurrencies are very likely to follow its trend.

Where to buy BCH in the UK?

Bitcoin Cash is currently the fourth-largest cryptocurrency behind Bitcoin, Ethereum, and Ripple in terms of market capitalization. However, it’s not supported by every major cryptocurrency exchange. A full list of exchanges that support BCH can be found here.

This is a great option for anyone looking to buy Bitcoin Cash with British Pounds or Euros in a simple and safe way. Or you can always buy BCH with BTC. Let’s check what options are available depending on the exchange.

Binance

Binance is the world’s biggest crypto exchange that has a rich list of supported coins. It is also a secure and reliable platform for your trading experience.

Buy BCH with Bank Transfer

You can easily buy stablecoins listed on Binance by wiring money from your account to the providers of these coins. You can then use these stablecoins to buy Bitcoin Cash on the Binance exchange.

Here is a step-by-step guide for you to follow:

  1. Create your account.
  2. Verify your identity and address in order to get access to fiat transactions.
  3. Using SEPA or Faster Payments you can deposit your Binance account.
  4. Buy stablecoins (USDT, BUSD, TUSD, USDC, PAX) listed on Binance.
  5. Now you can trade one of the stablecoins to buy BCH.
  6. Create a new private wallet for BCH.
  7. Transfer Bitcoin Cash from the exchange to your private wallet.

Trade Bitcoin Cash

Do you hold other cryptocurrencies? Binance supports the deposit of more than 150 cryptocurrencies, several of which you can exchange for Bitcoin Cash at some of the best rates in the market.

  1. Create your account.
  2. Deposit your account with the crypto you already own (e.g. BTC). For that, you need to go to the “Funds” tab, and then click on “Balances”. When you’re on the “Balances” page, you now simply need to look for the coin you want to deposit and click “Deposit”. Binance will now show you an address that you need to send your coins to.
  3. Place an order. Go to the Markets page of Binance, select BCH/BTC pair, and buy BCH.
  4. Create a new private wallet for BCH.
  5. Transfer Bitcoin Cash from the exchange to your private wallet.

BCH trading on Binance

Buy Bitcoin Cash with Credit Card

You can directly purchase Bitcoin Cash with a credit/debit card on Binance (Visa or MasterCard).

  1. Create your account.
  2. Verify your identity and address in order to get access to fiat transactions.
  3. In the Buy Crypto menu select Select “BCH” and your local currency (e.g. GBP).
  4. Select the credit card option and enter your credit card details.
  5. Purchase Bitcoin Cash.
  6. Create a new private wallet for BCH.
  7. Transfer Bitcoin Cash from the exchange to your private wallet.

Buying BCH on Binance

CEX.IO

CEX.IO is a London based trusted exchange. You can choose from a selection of cryptocurrencies on the site, including Bitcoin Cash. The exchange has a brokerage service (easier to use, more expensive) and a trading platform (cheaper but more complex). CEX accepts credit cards, debit cards, wire transfers, and SEPA.

Buy BCH with a credit/debit card

  1. Sign up for an account.
  2. Click BUY/SELL in the top menu
  3. Select BCH/GBP pair from the list
  4. Enter the desired amount and click on BUY
  5. Fill out your card details and submit the order
  6. Create a new private wallet for BCH.
  7. Transfer Bitcoin Cash from the exchange to your private wallet.

Buying Bitcoin Cash on CEX.IO

Buy BCH with a Bank Transfer

  1. Sign up for an account
  2. Click the green DEPOSIT button in the top right corner
  3. Choose GBP as the currency, and enter the amount.
  4. Follow the instructions to link your bank account
  5. When you have funded your CEX.io account with GBP, you can use either the BUY/SELL page, or the TRADE pages.
  6. Create a new private wallet for BCH.
  7. Transfer Bitcoin Cash from the exchange to your private wallet.

Kraken

You can trade other cryptocurrencies like Bitcoin and Ethereum for it or you can use your local fiat currency to purchase BCH. To buy Bitcoin Cash with GBP, follow this easy guide:

Buy BCH with a Bank Transfer

  1. Create an account
  2. Verify your identity and address.
  3. Fund your account with fiat currencies. You can do it in a number of ways, including SWIFT, SEPA, and other domestic wire transfers.
  4. Open the New Order page, fill out the order form and click BUY.
  5. Create a new private wallet for BCH.
  6. Transfer Bitcoin Cash from the exchange to your private wallet.

Trade Bitcoin Cash with other crypto coins

  1. Create an account
  2. Fund your account with the crypto coin you already have. Just generate a new deposit address in your Kraken account to receive funds from your crypto wallet.
  3. Open the New Order page, fill out the order form and click BUY.
  4. Create a new private wallet for BCH.
  5. Transfer Bitcoin Cash from the exchange to your private wallet.

Bitcoin Cash Wallet Options

As you probably already heard it is not to leave money on an exchange. Once you’ve finished buying your Bitcoin Cash, move it to your own wallet. And what is the reliable option here?

There are multiple options available if you’re looking for a Bitcoin Cash wallet, including:

Summing Up

Always make sure you keep your funds and transactions safe. Only trade on reputable exchanges, make sure to read users’ reviews and feedback, and always double-check the addresses where you’re sending your funds.