How to Buy Bitcoin Cash (BCH) in Svalbard

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

Step 1 – Join Kraken

You'll first need to purchase units of the major coins. Exchanges normally accept either Ethereum or Bitcoin in exchange for Altcoins. Follow the Link below to register and to get your welcome Bitcoin or Ethereum.

Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Crypto Trader

Your Bitcoin or Ethereum has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Bitcoin Cash (BCH) is obtainable on Binance, so we're going to use that as an sample. Unsure on how to send Coinbase funds to an Exchange? (Follow this manual)

Make sure you've selected the precise coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so forth. If you are using a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our guide).

Step 3 – Find Bitcoin Cash (BCH)

As soon as your deposit has been affirmed, you will now have access to your finances and you can launch invest and trading. To purchase Bitcoin Cash (BCH) on Binance, you'll want to go to the “Exchange” tab and then click on “Basic”.

To locate Bitcoin Cash (BCH), you will need to put the shortname of the coin (BCH) into the search-box, which is marked in the image. Be certain of having selected the correct grouping, we've marked this too. Click on “BCH/BTC” to go on.

Step 4 – Purchase (BCH) Bitcoin Cash

Once you have spotted Bitcoin Cash (BCH), you will be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). And now we are going to make our Limit Order.

The “Price” field will be automatically filled with the up-to-date valuation Bitcoin Cash (BCH) was sold for. You can change this to your preferred rate. The “Amount” field is the amount of BCH you want to buy. The “Total” field is the aggregated price in BTC that you'll settle for the whole amount of BCH.

When you are glad, make a mouse click on “Buy BCH”. Your order will be filled as soon as a Seller sells their BCH for the price you gave.

Step 5 – Withdraw Bitcoin Cash (BCH)

Unless you are regularly trading, never keep your crypto on an Cryptocurrency Exchange for an extended time frame. To withdraw your Bitcoin Cash (BCH), go to the “Funds” tab and click on “Withdraw”. (BCH) Bitcoin Cash can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find Bitcoin Cash (BCH) by using the provided drop-down box. Put into the amount of Bitcoin Cash (BCH) you would wish to take off. Don't forget the presented minimus/fees. Also make sure you have filled your right withdraw address.

If you're happy, click on “Submit”. You could be asked for phone/email verification before a take off.

Kudos! You've successfully purchased and safed Bitcoin Cash (BCH) in Svalbard.

That's it!

Take offs from Cryptocurrency Exchange can take anywhere from 1 – 30 minutes (rely on network usage). Once you have confirmed your withdrawal with Ethplorer.io or Etherscan.io and the Bitcoin Cash (BCH) is stored within your wallet, you are all done.