U.S. Markets closed

Where to spend your Bitcoin Cash

Pedro Febrero

One of the main drivers for cryptocurrency adoption is being able to use your crypto to buy goods and services like an actual currency.

Bitcoin Cash (BCH) is a fork of the original Bitcoin blockchain and was originally developed to act as a transactional currency rather than a digital investment.

So which retailers accept BCH as a digital currency to make purchases?

Spending your BCH

Looking at the BCH merchants map above (courtesy of BitcoinCash.org), you can see that most merchants are located in South America and Europe, although there’s quite a few in Australia and the US as well. In addition, Japan also seems to be a growing hotspot for BCH.

The merchants available range from 9-5 shops, popular food chains, bars, and newsstands. Moreover, it seems the number of people accepting Bitcoin Cash has been growing as time goes by.

Trading your BCH

There are a lot of aspects to cryptocurrency trading, such as bid/ask prices, moving averages, and going long or going short. Technical knowledge is incredibly important when trading, since it can be very easy to make mistakes.

Exchanges have visible ‘order books’ which portray buy and sell prices in accordance with the current market value of cryptocurrency. Alongside this, there are typically graphs which can help you visualise price action. This can help you to buy and sell Bitcoin Cash at the right time.

It would be wise to play around for a while with a small amount of funds to get acquainted with the exchange of your choice. After all, you don’t want to spend all of your savings into BCH and lose it straight away because you do not know the mechanics of the exchange.

If you are interested in learning more about trading, check out our guides on support and resistance lines and bid/ask prices, as well as the differences between an exchange and a broker.

Other methods

Exchanges are not your only option when it comes to buying and selling Bitcoin Cash. You could also use a broker or an over-the-counter (OTC) intermediary to facilitate your needs. You can learn more about OTC deals here.

Trading does not need to be a quick process. You could buy Bitcoin Cash when the price is low then hold on to it until the price goes back up. This would be an investment. Once the price has risen and does not look to rise again, you can sell it for profit.

If you’re looking for a fast and secure way to buy or sell Bitcoin Cash, you can also sign up to the new Coin Rivet exchange.

The post Where to spend your Bitcoin Cash appeared first on Coin Rivet.