How to Buy Bitcoin Cash (BCH) in Iceland

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

Step 1 – Signup to Kraken

You'll first need to buy one of the top-tier currencies. Exchanges usually accept either Ethereum or Bitcoin in exchange for Altcoins. Click the button below to register and to get your first Ethereum (ETH) or Bitcoin (BTC).

Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange

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

Make sure you've chosen the correct coin you wish to deposit.

Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. If you're dealing with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our manual).

Step 3 – Locate (BCH) Bitcoin Cash

Once your deposit has been confirmed, you will directly have access to your finances and you can start purchasing and trading. To invest in (BCH) Bitcoin Cash on Binance, you will want to hover over the “Exchange” tab and click on “Basic”.

To find Bitcoin Cash (BCH), you'll need to insert the shortname of the coin (BCH) into the search-box, which is marked in the graphic. Make sure you have selected the correct grouping, we have highlighted this also. Click on “BCH/BTC” to advance.

Step 4 – Buying Bitcoin Cash (BCH)

Once you've spotted Bitcoin Cash (BCH), you will 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 going to make our own Limit Order.

The field with the “Price” tag will be filled with the recent valuation Bitcoin Cash (BCH) was sold for. You can change this to your preferred price. The field with the “Amount” tag is the amount of BCH you wish to purchase. The “Total” field is the whole price in Bitcoin that you'll settle for the complete quantity of BCH.

When you are happy, click on “Buy BCH”. Your plan will be filled when a Vendor trades their BCH for the price you gave.

Step 5 – Withdraw (BCH) Bitcoin Cash

Unless you're regularly trading, best advise is not to keep your crypto coins on an Crypto Trader for an extensive time period. In order to withdraw your (BCH) Bitcoin Cash, hover over the tab called “Funds” and click on “Withdraw”. (BCH) Bitcoin Cash can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Bitcoin Cash (BCH) by using the given drop-down box. Drop in the volumen of (BCH) Bitcoin Cash you would like to take off. Take into account the presented minimus/fees. Also make sure you have filled your right withdraw address.

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

Congratulations! You've successfully purchased and stored Bitcoin Cash (BCH) in Iceland.

That's it!

Take offs from Crypto Exchange can take between 1 – 30 minutes (depending on network usage). As soon as you've confirmed your withdrawal with Etherscan.io or Ethplorer.io and the (BCH) Bitcoin Cash is safe within your wallet, you're all done.
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