How to Buy Bitcoin Cash (BCH) in Dominica

A Step-by-Step-Guide on how to buy Bitcoin Cash (BCH) in Dominica

Step 1 – Join Kraken

You'll first need to purchase one of the major currencies. Exchanges normally accept either Bitcoin or Ethereum in exchange for Altcoins. Follow the Link below to register and getting your welcome BTC (Bitcoin) or ETH (Ethereum).

Step 2 – Transmit Your Bitcoin or Ethereum to an Cryptocurrency Exchange

Your Bitcoin or Ethereum will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. Bitcoin Cash (BCH) is accessible on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow this guide)

Make sure you have chosen the precise coin you want to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so on. If you're working with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Locate Bitcoin Cash (BCH)

Once your deposit has been approved, you will immediately have access to your funds and you can start invest and trading. To invest in Bitcoin Cash (BCH) on Binance, you'll want to hover over the “Exchange” tab and mouse click on “Basic”.

In order to locate Bitcoin Cash (BCH), you'll need to insert the shortname of the coin (BCH) into the search-box, which is highlighted in the image. Make sure you have selected the proper pairing, we have marked this too. Click on “BCH/BTC” to go on.

Step 4 – Purchase Bitcoin Cash (BCH)

Once you have located (BCH) Bitcoin Cash, you'll be presented with a Price Chart (in the Center of the image) and some Order Books (on the Left of the picture). And now we're making our own Limit Order.

The field with the “Price” tag will be automatically filled with the most recent rate Bitcoin Cash (BCH) was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the quantity of BCH you want to buy. The “Total” field is the whole price in Bitcoin that you will pay for the whole volumen of BCH.

If you're satisfied, click on “Buy BCH”. Your plan will be filled when a Seller trades their BCH for the price you gave.

Step 5 – Withdraw Bitcoin Cash (BCH)

Unless you are frequently trading, you should never keepyour crypto coins on an Crypto Exchange for an extensive time period. To withdraw your (BCH) Bitcoin Cash, go to the tab called “Funds” and mouse click on “Withdraw”. Bitcoin Cash (BCH) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (BCH) Bitcoin Cash by using the provided drop-down box. Put into the quantity of Bitcoin Cash (BCH) you'd wish to take off. Take into account the shown fees/minimums. Also make sure you have entered your precise withdraw address.

If you're glad, make a mouse click on “Submit”. You could be requested for phone/email verification ahead of a withdrawal.

Congratulations! You have successfully bought and stored Bitcoin Cash (BCH) in Dominica.

That's it!

Take offs from Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have proved your take off with Ethplorer.io or Etherscan.io and the Bitcoin Cash (BCH) is stored inside your wallet, you are done.