Bitcoin Cash was a fork from Bitcoin and is one of the top 5 cryptos by market cap. While there are many exchanges to buy other cryptocurrencies like Bitcoin and Ripple, Bitcoin cash is still only available in a few platforms. We look at 3 secure exchanges to buy Bitcoin Cash (BCH) in INR in India.
Where to buy Bitcoin Cash (BCH) in INR
Koinex is one of the few platforms in India that allows Bitcoin Cash trading. Koinex charges a buyer fee of 0.25% and a seller fee of 0.2%. Seller fee is waived off until December 31, 2017. Other than Bitcoin Cash, Koinex also supports trading of Ethereum, Bitcoin, and Litecoin.
Coinome, which is owned by the parent of Billdesk supports buy and sell trades of Bitcoin Cash. With seller fee at 0.1% and buyer fee at 0.2%, Coinome also allows trading for Bitcoin and Litecoin.
CoinDelta charges a flat 0.3% fee for buyers and zero fees for sellers. It also supports trading for Bitcoin and Ethereum.
FAQ – Frequently Asked Questions
- What is Bitcoin Cash (BCH)?
On August 1, 2017, a hard fork in Bitcoin led to the creation Bitcoin Cash. Bitcoin Cash was not the first cryptocurrency to have a fork from Bitcoin but it is the most valued Bitcoin fork today. Bitcoin from its early days had pressure from the community members on the scalability of Bitcoin. The size of blocks was small. Bitcoin Cash has a block size of 8MB compared to 1MB of Bitcoin. The goal of Bitcoin Cash is to create a more efficient transaction system with higher processing speeds.
- What are benefits of Bitcoin Cash over Bitcoin?
- 8 MB block size versus 1 MB
- Not using SegWit
- Faster transactions
- Is Bitcoin Cash legal in India?
RBI issued a third warning a few weeks ago warning crypto traders and users about the risks of investing in Cryptocurrency like Bitcoin Cash. Cryptocurrencies like Bitcoin cash continue to operate in a gray area since there is no regulation for it. Learn more about regulation of cryptocurrency.
- What documents are needed for eKYC?
- Bank documents – Passbook (or) Canceled Cheque
- PAN Card
- Aadhaar card