How to Buy Bitcoin Cash (BCH) in Iceland

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

Step 1 – Join Coinbase – Get Free $10

In the beginning you'll need to purchase units of the top-tier currencies. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Follow the Link below to register and to get your welcome 10 Dollar.

Step 2 – Transfer Your Funds to an Cryptocurrency Exchange

Your Bitcoin (BTC) or Ethereum (ETH) will need 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 will use that as an sample. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this guide)

Make sure you've chosen the exact coin you would like to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. If you are working with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow these easy steps).

Step 3 – Locate Bitcoin Cash (BCH)

As soon as your deposit has been affirmed, you will immediately have access to your assets and you can start purchasing and trading. To buy Bitcoin Cash (BCH) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”.

To spot (BCH) Bitcoin Cash, you'll need to insert the short name of the asset (BCH) into the search-box, which is highlighted in the picture. Be certain of having choosen the correct grouping, we have marked this also. Click on “BCH/BTC” to progress.

Step 4 – Buying (BCH) Bitcoin Cash

After you have located Bitcoin Cash (BCH), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the picture). Next we are making our own Limit Order.

The field with the “Price” tag will be filled with the recent tariff Bitcoin Cash (BCH) was sold for. You can change this to your desired rate. The field with the “Amount” tag is the quantity of BCH you want to purchase. The “Total” field is the total price in Bitcoin that you will settle for the whole volumen of BCH.

If you're glad, click on “Buy BCH”. Your order will be filled when a Vender sells their BCH for the price you offered.

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 longer time frame. In order to take off your (BCH) Bitcoin Cash, go to the tab called “Funds” and click on “Withdraw”. (BCH) Bitcoin Cash can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (BCH) Bitcoin Cash by using the given drop-down box. Put into the amount of Bitcoin Cash (BCH) you'd wish to withdraw. Take into account the presented minimus/fees. Also make sure you have filled your correct withdraw address.

When you are glad, click “Submit”. You could be asked for verfication via phone/email ahead of a withdrawal.

Congratulations! You have successfully bought and safed (BCH) Bitcoin Cash in Iceland.

That's it!

Withdrawals from Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have proved your withdrawal with Ethplorer.io or Etherscan.io and the (BCH) Bitcoin Cash is safe inside your wallet, you are all done.