A Step-by-Step-Guide on how to buy Bitcoin Cash (BCH) in Somalia
Step 1 – Signup to CEX.io In the beginning you'll need to buy units of the bigger coins. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Click the button below to register and getting your first Ethereum or Bitcoin.
Step 2 – Transfer Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Trader now. All exchanges have a deposit form that is identical. Bitcoin Cash (BCH) is available on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this manual) Make sure you've selected the right coin you wish to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. In the case you're using a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow these easy steps).
Step 3 – Find (BCH) Bitcoin Cash Once your deposit has been affirmed, you'll directly have access to your funds and you can start purchasing and trading. To buy (BCH) Bitcoin Cash on Binance, you'll want to go to the “Exchange” tab and then click on “Basic”. To spot Bitcoin Cash (BCH), you'll need to put the shortname of the coin (BCH) into the search box, which is highlighted in the image. Be certain of having selected the proper grouping, we have highlighted this also. Click on “BCH/BTC” to proceed.
Step 4 – Purchasing Bitcoin Cash (BCH) As soon as you have discovered (BCH) Bitcoin Cash, you'll be given a Price Chart (in the Center of the image) and some Order Books (on the Left of the image). For now we are going to create our own Limit Order. The “Price” field will be filled with the recent rate Bitcoin Cash (BCH) was sold for. This can be changed to your preferred rate. The “Amount” field is the quantity of BCH you want to purchase. The “Total” field is the total price in Bitcoin that you'll pay for the complete volumen of BCH. If you're happy, make a mouse click on “Buy BCH”. Your plan will be filled when a Seller trades their BCH for the price you introduced.
Step 5 – Withdraw (BCH) Bitcoin Cash Unless you are regularly trading, never keep your crypto coins on an Crypto Trader for an longer time frame. In order to withdraw your Bitcoin Cash (BCH), go to the “Funds” tab and click on “Withdraw”. Bitcoin Cash (BCH) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Bitcoin Cash (BCH) by using the given drop-down box. Enter the amount of Bitcoin Cash (BCH) you would wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your right withdraw address. When you're glad, click on “Submit”. You may be asked for phone/email verification before a take off.