Bitcoin Cash

Written by Mike Druttman

Fact checked by Wikitoro Team

Updated Nov, 2024

Insight

It's essential to understand that Bitcoin Cash (BCH) is not the same as Bitcoin; it's a "fork" or an offshoot of the original cryptocurrency. Both Bitcoin and Bitcoin Cash are available for trading on the eToro online investment platform. If you're interested in the specifics of investing in BCH with eToro, this guide is for you. I'll share my personal insights and experiences, offering valuable information for anyone considering investing in this dynamic asset.

Why I Prefer Trading Bitcoin Cash on eToro

Having traded Bitcoin Cash on eToro on several occasions, I've identified numerous advantages that make the platform particularly appealing for this cryptocurrency:

• Simple and User-Friendly Interface: eToro's platform is intuitive, making it easy for beginners and experienced traders alike.
• Low Minimum Investment: You can start trading with as little as $10, making it accessible for investors of all levels.
• eToro Wallet Transfer: The option to transfer crypto to my eToro wallet adds a layer of convenience and security.
• Copy Trading: eToro allows you to mimic the trades of experienced Bitcoin Cash investors, a valuable tool for beginners.
• Leverage Trading: This feature enables you to open larger positions while committing a smaller amount of capital. It's crucial to note that leverage limits vary based on your country of residence. Also, using leverage means you'll be trading eToro crypto CFDs, not the cryptocurrency itself, which is an important distinction.

Exploring the Bitcoin Cash Asset Page on eToro

When you navigate to the Bitcoin Cash cryptoasset page on eToro, you'll initially land on the Overview section. This section is designed to provide a comprehensive view of the asset, featuring several key elements:

• Graph: This feature displays the performance of Bitcoin Cash, along with essential data such as market capitalization, the range for the day, and the 52-week range. Note that this is a basic graph; a more detailed version is available in a separate tab.
• About: Here, you'll find a concise description of the Bitcoin Cash asset, offering foundational information for traders.
• Latest News: Stay updated with the latest news relevant to Bitcoin Cash, curated by CityFALCON.
• People Also Bought: This section highlights other popular assets that traders are currently investing in, providing insights into market trends.
• Copy Bitcoin Cash Investors: Discover top-performing traders who invest in Bitcoin Cash. By clicking the "Copy" button next to a trader's profile, you're directed to a copy trading window, enabling you to mirror their trades.
• Discussions: Engage with a community of traders discussing Bitcoin Cash. This feed allows you to filter conversations to view either top discussions or all discussions. Like social media platforms such as Facebook and Twitter, you can interact by liking, commenting, or sharing posts.

Essential Crypto Trading Tools on eToro

Having extensively tested the eToro platform for trading Bitcoin Cash and other assets, one standout feature is the integration of trading tools directly into the user interface. This seamless integration means there's no need to switch between different apps or screens. Here are some of the key tools I've found particularly useful:

1. Chart: This is an advanced, live chart for Bitcoin Cash. It offers customization options ranging from 1-minute to 1-week time gaps, allowing for detailed analysis of market movements.
2. Analysis: True to its name, this section provides technical analysis reflecting the consensus among market analysts. It features a graph showing aggregated buy, sell, and hold signals based on popular technical indicators, offering a quick snapshot of market sentiment. Additionally, the 'Technical Indicators' subsection presents real-time signals derived from price and volume data, which are crucial for understanding market trends.
3. Latest Research: This is a highly recommended resource, especially valuable because it's exclusively available to registered and verified eToro users with a funded account. The section provides in-depth research and insights that can be a game-changer for informed trading decisions.

Purchasing Bitcoin Cash on eToro

To acquire Bitcoin Cash on eToro, follow these simple steps:

1. Search for Bitcoin Cash: Locate the asset on the platform.
2. Initiate Trade: Click on the "Trade" button.
3. Set Investment Amount: Enter the amount you wish to invest.
4. Execute the Trade: Confirm and complete the transaction.

By following this process, you're purchasing the actual cryptocurrency, not a derivative or representation of it.

Trading Bitcoin Cash via CFDs on eToro

CFD (Contract for Differences) trading offers an appealing way to engage with the Bitcoin Cash market:

• Speculative Trading: CFDs allow you to speculate on the price movements of Bitcoin Cash without owning the underlying asset.
• Flexibility in Market Movements: With CFDs, you can potentially profit from both rising and falling market prices, provided your trades are well-planned and executed.
• ROI Potential: The Return on Investment (ROI) with CFDs depends on the difference in the asset's price from when you enter and exit the trade.

To trade Bitcoin Cash as a CFD on eToro, the process is slightly different

1. Locate the Asset: Search for Bitcoin Cash on the platform.
2. Begin Trading: Click on "Trade".
3. Enter Investment Details: Specify your investment amount and set trading parameters, such as leverage, stop loss, and take profit.
4. Complete the Trade: Finalize your transaction.

Please note that CFD trading may not be available in some countries due to regulatory restrictions.

Leveraging eToro's CopyTrader for Bitcoin Cash Investments

One of the standout features of eToro that I've particularly appreciated is the CopyTrader functionality. This tool enables me to mirror the trades of seasoned crypto investors, which is invaluable for someone looking to leverage experienced insights in the volatile world of cryptocurrency.

To use this feature:

1. Filter Search: I used the platform's filters to narrow down my search for a suitable trader.
2. Select a Trader: After choosing a trader whose strategy aligns with my goals, I decided on the amount I wanted to invest in their Bitcoin Cash trades.
3. Start Copying: With a simple click on the "Copy" button, I began automatically replicating their trading positions.

Start Your BCH Online Trading Journey!

So, there you have it! This guide covers everything you need to know to confidently invest in Bitcoin Cash using eToro. The strategies and tools discussed are applicable both on the web-based platform and the mobile app. Remember these insights, apply them judiciously in your crypto trading endeavors, and enjoy the dynamic experience that eToro offers. Happy trading!

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.

Copy Trading does not amount to investment advice.  The value of your investments may go up or down.  Your capital is at risk.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which hasbeen prepared by our partner utilizing publicly available non-entity specific information about eToro.