How to Buy Bitcoin Cash in Ireland

A Beginner’s Guide to Buying and Selling Bitcoin Cash Cryptocurrency in Ireland

Last Updated October 12th 2021
5 Min Read

If you’re based in Ireland and wish to buy Bitcoin Cash – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Bitcoin Cash tokens you want to buy.

Before getting started on buying crypto, there are certain things that you should consider. First, you need an exchange that will support EUR and Bitcoin Cash. Once you add funds into that exchange, you will buy your crypto and store it in the supported wallet. 

If you are new to crypto investments, you should be cautious before diving into this highly volatile and highly risky market. There is a high chance of losing your investment in crypto trading so ensure you consult with a financial advisor before getting started. 

What is in this guide? 

This guide will give you a comprehensive analysis of what Bitcoin Cash is. The guide will also systematically guide you in the process of buying and selling Bitcoin Cash. It will also answer some questions that first-time investors have about investing in cryptocurrencies. 

  1. QUICK GUIDE: HOW TO BUY BITCOIN CASH IN IRELAND 
  2. What is Bitcoin Cash?
  3. How Bitcoin Cash Works 
  4. Where to buy Bitcoin Cash in Ireland 
  5. A Step-by-Step Guide to Buying Bitcoin Cash in Ireland
  6. How to sell Bitcoin Cash
  7. Which Wallets can I Use to Hold Bitcoin Cash?
  8. Key things to consider if you are thinking about buying Bitcoin Cash in Ireland 
  9. FAQs 

QUICK GUIDE: HOW TO BUY BITCOIN CASH IN IRELAND

  1. Open an account with a cryptocurrency exchange.
  2. Verify your account.
  3. Go to the deposit section
  4. Go to the platform and select Bitcoin Cash
  5. Enter how many Bitcoin Cash coins you want to buy.
  6. Check the details and confirm your purchase.

What is Bitcoin Cash? 

Bitcoin Cash has gained noticeable popularity within the cryptocurrency market. With this guide, a thorough explanation of the whole process is provided with the intention of simplifying your Bitcoin Cash Tokens purchase in Ireland. The guide is extremely thorough and will ensure you understand the entire process

Bitcoin Cash is highly ranked in the list of cryptocurrency in terms of market capitalisation. The crypto's market cap stands at over $11 billion. Its value is around $586 and has maintained its value for several months, reducing investor losses. 

How Bitcoin Cash Works 

Bitcoin Cash is a cryptocurrency similar to Bitcoin, Ethereum, and others. Bitcoin Cash is stored on the blockchain, which makes it superior to traditional financial systems. Bitcoin Cash is more secure than using fiat currency in that it maintains anonymity and is also free from interference from third parties.  

Where to Buy Bitcoin Cash in Ireland 

The only place where you can buy crypto is from an exchange. There are many exchanges in Ireland that support Bitcoin Cash. The first thing you need to do is conduct your research to find the best exchange suited to your needs. 

A Step-by-Step Guide to Buying Bitcoin Cash in Ireland 

Once you have chosen an exchange to use, open an account. The account opening process is very easy. Depending on the exchange, you will be required to verify your identity by providing details such as proof of identity and proof of residency. Exchanges set these rules for compliance with Ireland in a regulatory framework for cryptocurrencies. 

After setting your exchange account, you need to fund it with fiat currency that will enable you to buy Bitcoin Cash. You can link your bank account and then enter the amount you want to spend on the purchase. The amount of Bitcoin Cash tokens you receive will depend on its current market value. 

When opening your exchange account, you need to ensure that you have a strong password and at least a two-factor authentication process. This will keep your account and tokens safe. As mentioned earlier, cryptocurrencies are very volatile, and you need to be cautious and avoid over-speculating. While some investors can make huge profits, others lose all their money when a token's value drastically reduces. 

How to sell Bitcoin Cash 

Once the price of Bitcoin Cash goes up and you want to make some quick profits, it is the ideal time to sell it. You can directly sell Bitcoin Cash from your exchange. To sell Bitcoin Cash, follow the below steps: 

Go to your exchange account 

Sign in to your exchange account where you bought your Bitcoin Cash. Look at the prices to ensure that you are not selling at a loss. However, even when the price is lower, you can decide to sell it to avoid further loss. 

Place a Sell order and confirm the transaction 

The next step is to place a sell order. To do this, select the amount of Bitcoin Cash you want to sell. You do not have to sell it all at once. Confirm your transaction, and your Bitcoin Cash will be sold, and you can withdraw the amount you sold it for from the exchange. 

Which Wallets can I Use to Hold Bitcoin Cash? 

Once you have bought Bitcoin Cash, you need to figure out the most secure way of storing it. Cryptocurrencies are stored in wallets. You can choose to deposit it in a cold wallet if you want to hold it for a long time without trading. Cold wallets are operated offline, which makes them safe. 

However, if you want Bitcoin Cash for short-term speculation, you can hold it in the exchange wallet where you can buy or sell depending on market prices and make a profit. Exchange wallets are hot wallets ideal for those who only want to hold crypto for trading. 

Key things to consider if you are thinking about buying Bitcoin Cash in Ireland 

Market volatility 

Market volatility is an issue that affects all cryptocurrencies. The Bitcoin Cash users are responsible for maintaining its prices, and this means that in case of high demand, the value of the BCH token will go up and in case of low demand, its value will go down. Sometimes, the volatility is unpredictable and may lead to massive losses. 

Usability 

You do not want to hold cryptocurrency just for speculation. You also need to ensure that the crypto can be used for other purposes, such as payments. Bitcoin Cash has outstanding usability features, given that it is integrated into several platforms as a payment method. It would help if you also researched whether Bitcoin Cash can be exchanged for other cryptocurrencies so that you derive great value from it. 

Market performance

You also need to look at the market performance of Bitcoin Cash before purchasing it. The market performance can be determined by looking at its price history to help you evaluate the level of risk associated with holding the crypto.

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FAQs 

Is investing in Bitcoin Cash risky? 

Just like with the other cryptocurrencies, investing in Bitcoin Cash carries a huge amount of risk. Take your time and study the market before investing large amounts of money. 

Where can I buy Bitcoin Cash? 

A crypto exchange is the best place for you to buy Bitcoin Cash. There are many exchanges in Ireland that support the BTC token. It is best to go with a popular exchange that has been around for a long time. 

Can I buy Bitcoin Cash with a credit card? 

Yes, it is possible to buy Bitcoin Cash with a credit card. Exchanges usually give guidance on how you can buy crypto with your credit card.

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