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Bitcoin Cash – Everything you need to know.

By Alex Nimoy Oct. 12, 2019, 2:04 p.m.
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Getting Started

Peer to peer (P2P) electronic cash is simply described as online money sent from one person to another without the need for a trusted third-party. As described in the original Bitcoin whitepaper by Satoshi Nakamoto, P2P cash makes use of digital signatures as part of the solution, but the main benefits are lost if a trusted third party is still required to prevent fraud. This makes P2P cash a trustless and safe way to transact without the need of intermediaries.

Download a wallet

Getting started with Bitcoin Cash is super easy. The first step is to download a wallet so that you can begin participating in the Bitcoin economy. Most wallets are free to download and are easy to use that have a few key features such as sending, receiving, storing funds securely, transaction lookups, and more.

Buy or Earn Bitcoin Cash

The two easiest ways to get Bitcoin Cash is to buy or work for it. Buying Bitcoin Cash is the most used and convenient way, where all you have to do is sign up for a Bitcoin exchange and deposit funds so you can convert it to Bitcoin Cash. The exchange will send you Bitcoin Cash after the trade has occurred. The other option is to earn Bitcoin Cash by working for it, for example finding a job on a job board that pays in Bitcoin Cash or creating your own service (selling t-shirts for example) and earning Bitcoin Cash.

Find Bitcoin Cash locally?

In many cities there is a market of Over The Counter (OTC) traders who trade fiat (such as USD, Yen, Euro, etc) for Bitcoin Cash. Or consider asking your employer if they would be willing to be at the forefront of the future of money and offer partial or complete payment in Bitcoin Cash. Some larger cities are also equipped with a Bitcoin Cash enabled ATM machine which make it very easy to trade in fiat for Bitcoin Cash. Ask at your nearest Bitcoin Cash Meetup about other options, or consider visiting restaurants in your city where you can spend Bitcoin Cash and enquire there.

Buy Bitcoin Cash Online?

Buying Bitcoin Cash online is the most popular way to receive Bitcoin Cash. Online Exchanges which buy and sell local currency and cryptocurrencies allow you to perform bank transfers to trade for Bitcoin Cash. Some even accept credit card for immediate purchase. As with any online purchase, do your own research and ensure you have a your own wallet. We do not recommend leaving any Bitcoin Cash on exchanges. You should always store your Bitcoin Cash on your own wallet that's been safely backed up.

Spend Bitcoin Cash

Bitcoin Cash isn’t just for speculation. It’s intended usage is a peer to peer electronic currency, which means, it should be spent. Spending Bitcoin Cash is fast, with near-instant transactions and sub-cent transaction fees, making it one of the most secure and widely used digital currency on the planet.

Accept Bitcoin Cash

As a merchant one of your main goals is to be able to accept and process payments as quickly and seamlessly as possible so you can make your customers happy and receive payments without any headaches. Bitcoin Cash is the solution, as it has fast and low-cost transactions. As the world goes digital, electronic currencies such as Bitcoin Cash are becoming the go-to method for paying online and in retail shops. Third-party providers make it easy to accept Bitcoin Cash using their platforms. When you sign up for a third-party merchant solutions application such as BitPay, you simply setup your account so that you can receive Bitcoin Cash and have it sent to your Bitcoin Cash wallet or you can convert your Bitcoin Cash to your local fiat currency. Most shops do a split where some funds are liquidated to fiat and some are held in crypto. Either way, by setting up a merchant solutions application you can begin accepting Bitcoin Cash payments today without worrying about the complexities of how to accept Bitcoin Cash.

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