Bitcoin Cash is a popular digital asset. UAE traders use it because of its strengths. A fork in the Bitcoin blockchain in 2017 created Bitcoin Cash. It boosted the size of blocks, enabling faster transactions and scalability.
Bitcoin Cash and Bitcoin have many technical similarities. Both coins use the same mechanism and have capped their supply at 21 million. Bitcoin Cash experienced a fork in 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV. Today, Bitcoin Cash ABC is known as Bitcoin Cash. This article discusses how to buy Bitcoin Cash (BCH) in the UAE.
List Of The Best Exchanges For Bitcoin Cash:
- eToro – Best overall broker for Bitcoin and other crypto assets
- Binance – has an excellent digital assets portfolio for UAE traders
- Coinbase – is a leading global exchange with top-tier licenses and access to many coins
|Excellent social trading features
|Best overall broker
|Premium account features
|Top cryptocurrency exchange
|Access to many coins
|Leading global exchange with top-tier licenses
Best Crypto Exchanges For Bitcoin Cash In Overview:
1. eToro – Best Overall Broker To Buy Bitcoin In UAE
Min Deposit: $50
Assets available: 4.8
Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
2. Binance – Excellent Digital Assets Portfolio For UAE Traders
3. Coinbase – Leading Global Exchange With Top-Tier Licenses
How We Chose The Best Exchanges For Bitcoin Cash
We choose the best exchanges to buy Bitcoin Cash based on several criteria including Fees, Account, Withdrawal and Deposit. We commit to offering help to all UAE traders. Our goal is to help beginner and advanced traders make intelligent choices with their money. This focus is the reason why we share both strengths and weaknesses.
Fees: A straightforward fee structure contributes to an impressive trading experience. Some exchanges in the UAE have a simple fee structure; others don’t. Check our in-depth reviews to learn more about fees and exchanges.
Account: UAE cryptocurrency exchanges have different account tiers. Some providers request a minimum deposit fee. Others don’t charge an initial fee for new accounts. Verify our in-depth reviews for more details on account tiers and exchanges.
Withdrawal and deposit: Withdrawing and depositing funds must be straightforward. Funding an account takes longer with some exchanges than with others. Some UAE exchanges have a low minimum deposit. Read our in-depth reviews to learn more about the policies available with crypto exchanges.
Market and products: Each UAE exchange offers different market and asset coverage. We recommend you choose an exchange with a versatile digital portfolio. Read our in-depth reviews for more information on UAE exchanges and assets.
Trading platforms: A platform with a simple design adds to a good trading experience. Select an exchange with an intuitive platform and a versatile asset offering. The UAE exchanges in our reviews are trustworthy, but some might be challenging for beginners. Check our in-depth reviews to read more about crypto exchanges in UAE.
Customer support: Customer support is key to your online trading success. Trustworthy exchanges offer phone support, email, and live chat.
Safety: A safe cryptocurrency exchange has top-tier licenses. It follows strict rules and uses industry-leading safety measures. Our in-depth reviews offer more information on online trading safety for UAE traders.
How To Buy Bitcoin Cash In UAE
The best cryptocurrency exchanges to buy Bitcoin Cash with are eToro, Binance, and Coinbase. eToro is the leading social trading broker with secure crypto services. Binance has an excellent digital assets portfolio for UAE traders. Coinbase is a leading global exchange with top-tier licenses and access to many coins.
Bitcoin Cash is a good choice for UAE traders. We recommend you use eToro to trade BCH coins in the United Arab Emirates. It is the leading social trading platform with the best crypto trading services. There are four simple steps to follow to buy BCH with eToro:
- Sign up with eToro: Go to eToro’s main website and register a new account.
- Submit a valid ID: eToro follows the KYC rules, and you’ll have to pass verification before trading BCH. A valid ID, such as a passport or driver’s license, is necessary.
- Make your first deposit: After account verification, you have to fund your account. UAE traders have many funding options, including credit/debit cards and bank transfers.
- Buy Bitcoin Cash: To see the Bitcoin Cash price, type “BCH” into the search bar. Click on the coin and start buying or selling BCH.
Where To Buy Bitcoin Cash In UAE?
UAE traders buy Bitcoin Cash securely with a crypto trading platform. The top three trading platforms we recommend are eToro, Binance, and Coinbase.
Buying Bitcoin Cash With eToro
eToro is the leading brokerage firm with top-rate exchange platforms to buy Bitcoin Cash. It offers an excellent portfolio with access to cryptocurrency, equity investments, and forex trading. The main crypto coins available with eToro are Bitcoin and Bitcoin Cash.
This online broker offers a valuable demo account. Virtual trading lets you test different crypto trading strategies with live market prices. It is a good approach for traders at all levels. If you want to follow the price movements of BCH with eToro, the demo account is a good place to start.
UAE traders use eToro’s services because of its competitive fee structure. It has no commission fees, and it charges a 1.90% spread for withdrawing cryptocurrency. eToro offers the best social trading features. It identifies top traders and allows UAE traders to copy their positions.
eToro has many benefits for UAE traders. It has many funding options, a digital wallet, and 24/5 support.
Pros: Commission-free trading , Features many popular cryptos , Regulated by the FCA , Mobile app available , Offered in many countries , Demo account
Cons: It has a high spread , It lacks smaller cryptos and stocks
Buying Bitcoin Cash With Binance
Binance is a top cryptocurrency exchange for buying Bitcoin Cash. It is a good fit for professional UAE traders as it has many technical tools. The Binance platform comes with a professional interface and flexible leverage solutions.
Binance has some learning materials for beginners. It offers tutorials and videos to help beginner traders invest in digital coins. Binance has access to 51 popular crypto assets. It has a stablecoin, BNB, which offers incentives and discounts on trading fees.
This cryptocurrency exchange uses a transparent fee structure. The executions costs start at 0.10% per trade. Account-holders receive discounts of up to 40% by having BNB currency in their wallets. Binance has a minimum deposit fee of £15 for credit/debit card funding.
Binance is a secure exchange and follows strict rules under the FCA.
Pros: More advanced tools and technical indicators , Offers tutorials for beginners , Low spreads , Mobile App available , Advanced trading platform
Cons: It is not intuitive for beginners , It has an unclear regulatory status
Buying Bitcoin Cash With Coinbase
Coinbase is a leading crypto exchange with a valuable portfolio for UAE traders who are buying Bitcoin Cash. It has an excellent reputation and top-tier licenses. Coinbase is the world-leading digital currency platform with access to many coins. It offers popular crypto assets, including Bitcoin and Bitcoin Cash.
Coinbase has user-friendly services and trading platforms. It offers valuable learning materials and research tools. Coinbase is a good fit for UAE traders at all levels.
Pros: Secure platforms and wallets , Access to dozens of digital assets, including Bitcoin and Ethereum , Beginner-friendly main platform , Access to professional services with Coinbase Pro
Cons: Expensive fee structure, higher than with most exchanges , Lack of control of private keys when you keep your assets in your Coinbase account
How To Buy Bitcoin Cash Using eToro?
The best UAE platform to buy Bitcoin Cash with is eToro. This brokerage firm has secure platforms and services for traders at all levels. Here is a step-by-step guide on using eToro to buy BCH in the UAE.
Step 1: Create A Trading Account With eToro
The first step is to open a trading account with eToro. UAE traders access the sign-up form on eToro’s main website. You’ll have to submit your full name, address, source of income, date of birth, and contact information.
Step 2: Verify Your Trading Account
After you’ve added the mandatory information, the next step is to pass account verification. eToro allows investors to trade up to $2,000 before verifying their account. Users have to submit an image of their ID and proof of residence. eToro is a trustworthy broker that follows strict KYC rules from the UAE. Verifying trading accounts is mandatory for all UAE traders.
Step 3: Fund Your Account
eToro offers different funding solutions. Choose the deposit option that suits your needs. After you decide on a funding method, the next step is to buy BCH.
Step 4: Buy Bitcoin Cash
eToro allows you to complete your first crypto “buy” after your deposit appears in your wallet. Digital assets have different symbols. Clicking on one ticker will start your trade. Choose the amount of crypto you’d like to buy and click “Submit.” Your transaction will complete in a matter of minutes.
What Is Bitcoin Cash?
Bitcoin Cash represents a hard fork from the initial Bitcoin (BTC) blockchain. A hard fork occurs when developers create a new coin from an old blockchain. Developers created Bitcoin Cash (BCH) from the original Bitcoin (BTC) blockchain. Bitcoin Cash (BCH) and Bitcoin (BTC) operate on independent networks. Bitcoin Cash’s purpose was to become more scalable and versatile.
Why Should You Buy Bitcoin Cash?
You should buy Bitcoin Cash because it is a popular choice for UAE traders. It is a crypto coin with excellent performance. BCH is among the leading 20 cryptocurrencies by market capitalization. In 2021, Bitcoin Cash reached a price of around $1,500. It is secure and offers many features for traders at all levels.
How Much Does Bitcoin Cash Cost?
The cost of Bitcoin Cash varies depending on the platform you choose. Exchanges like Binance charge a 0.1% spot trading fee. Our in-depth reviews offer more information on Bitcoin Cash trading and fees.
How To Buy Bitcoin Cash Using PayPal?
If you want to buy Bitcoin Cash with PayPal, you must create a PayPal account. If you have a PayPal account, click the button that says “crypto” on the website or PayPal app. There you will find the ticker symbol for Bitcoin Cash.
To complete the transaction, you need funds in your account from a debit card or a bank account. PayPal users have a spending option between $1 and $100,000 per week. Remember that PayPal has different crypto exchange fees.
How To Buy Bitcoin Cash Using BTC?
Another option for buying BCH is using Bitcoin. Traders use Bitcoin on most exchanges to fund their brokerage accounts. We recommend you store your coins in crypto wallets like a Bitcoin wallet. Securing your funds is a must. Read our in-depth reviews to learn more about crypto trading, wallets, and safety.
Buying Bitcoin Cash Safely In UAE
UAE traders must choose a secure cryptocurrency exchange or broker with top-tier licenses when buying BCH. Traders decrease trading risks by using platforms that follow strict regulatory rules. eToro is a top social trading broker with an excellent reputation and licenses from top-tier regulators. UAE traders get access to its secure services and platforms.
If you want to store Bitcoin Cash in a wallet, it is best to opt for a wallet with an encryption key and powerful security protocols that you control. Digital crypto wallets use public and private keys. Never share your private keys with anyone, including your preferred exchange.
The Risks Of Buying Bitcoin Cash
Digital coins like BCH are speculative assets and have inherent risks. Trading crypto coins remains risky. If you want to avoid losing funds, you should start with a small investment. Bitcoin Cash is secure, but it might be challenging for beginners. If you buy BCH at a high price and the coin crashes, you risk losing all your funds. Remember that risks increase if you use leverage.
CFD platforms provide access to the ability to use leverage with BCH. Leverage might lead to dramatic revenue increases. But it increases the risk of losses as well. Crypto coins are volatile, and we don’t recommend that new investors use leverage. Read our in-depth reviews to learn more about risk management and online trading.
Selling Bitcoin Cash In UAE
UAE traders hold or sell Bitcoin Cash. We recommend you use a crypto exchange or broker like eToro. eToro is a popular choice for cashing out, and it doesn’t support exchanging crypto for other coins. UAE traders have to use a trustworthy cryptocurrency exchange for this.
Bitcoin Cash is a popular coin. UAE traders get access to reliable platforms and exchanges to invest in BCH. Bitcoin Cash is a good fit for professional UAE traders. BCH is a secure coin, but you need to know how and where to buy it. We recommend you opt for an online broker like eToro to invest in Bitcoin Cash.
Are There Any Safety Risks For UAE Citizens?
Online trading comes with risks. Online trading in the United Arab Emirates is legal and safe. Traders must select an exchange platform with top-tier licenses from a foreign authority. The top regulators for online platforms are the FCA, CySEC, and ASIC. The platforms in our reviews are secure and follow strict regulations.
What Is The Financial Regulatory Authority For Cryptocurrencies?
Cryptocurrencies, including BCH, are not regulated by a regulatory authority. Digital assets have no tangible asset or intrinsic value. Few countries allow traders to use the local Financial Services Compensation Scheme if they lose money. Verify with your local authorities for restrictions and rules.
Is A Bitcoin Wallet Necessary To Buy Bitcoin Cash?
Yes. All UAE traders need a cryptocurrency wallet to store BCH. It isn’t safe to keep your coins in the exchange’s wallet. Read our in-depth reviews to learn more about digital wallets and safety.
How Much Money Do I Need To Buy BCH?
The answer to this question varies depending on the platform you choose. Buying BCH on eToro comes with a minimum deposit requirement of $50. The exact minimum or maximum investment changes based on the platform’s limitations. Verify our in-depth reviews to discover more about cryptocurrencies and minimum investments.
How To Sell Cryptocurrency In UAE?
Selling cryptocurrency in the UAE is straightforward. For example, if you use eToro’s services, you’ll gain access to a portfolio where you have to click on the Sell button. The best approach to making money from a crypto investment is capital gains. A capital gain refers to selling coins for a higher price than you originally paid. Read our in-depth reviews to learn more about buying and selling digital assets in the UAE.
Should I Use Bitcoin Or Bitcoin Cash?
Bitcoin Cash is more straightforward and costs less than Bitcoin. But BCH is not widely accepted by the general public. Read our in-depth reviews to discover more details on digital assets’ availability and popularity.
Is There A Difference Between Bitcoin And Bitcoin Cash?
Bitcoin Cash represents a hard fork of Bitcoin. Bitcoin Cash is a separate coin from Bitcoin. BCH has a block size of 32MB, while BTC has a block size of 1MB. That means Bitcoin Cash (BCH) processes transactions much faster than Bitcoin (BTC).
What Does A Hard Fork Mean?
A hard fork represents a radical change to a network’s protocol. It makes previously invalid transactions and blocks valid, or vice-versa. When this happens, the chain splits and produces a second blockchain that shares the history with the original. The new coins operate on different networks.
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eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.
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