Bitcoin Cash (BCH) has emerged as a compelling alternative to traditional cryptocurrencies, offering faster transaction speeds and lower fees. Designed to address the scalability limitations of Bitcoin, Bitcoin Cash enables users to conduct everyday digital transactions with ease. For Canadians looking to enter the world of decentralized finance, purchasing Bitcoin Cash is a straightforward and secure process — especially when using trusted platforms that support local payment methods like Interac e-Transfer.
This guide walks you through everything you need to know about buying, storing, and trading Bitcoin Cash in Canada, from understanding its advantages over Bitcoin to navigating secure exchanges with minimal fees.
What Is Bitcoin Cash (BCH)?
Bitcoin Cash originated in 2017 as a hard fork of the original Bitcoin blockchain. The split occurred due to growing concerns within the crypto community about Bitcoin’s ability to scale effectively for daily use. While Bitcoin maintains a 1 MB block size limit, Bitcoin Cash increased this to 8 MB (and later up to 32 MB in some implementations), allowing more transactions per block.
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This fundamental change allows Bitcoin Cash to process transactions faster and at a significantly lower cost — making it ideal for small, frequent payments such as online purchases or peer-to-peer transfers.
Unlike Bitcoin, which many investors view primarily as a store of value ("digital gold"), Bitcoin Cash positions itself as digital cash — practical money for real-world use.
Why Choose Bitcoin Cash Over Bitcoin?
While both cryptocurrencies share a common origin, their purposes have diverged. Here's why you might consider Bitcoin Cash:
Lower Transaction Fees
One of the biggest pain points with Bitcoin is high transaction fees during peak network activity. In contrast, Bitcoin Cash consistently offers fees under $0.01 per transaction — even during busy periods.
Faster Confirmation Times
Bitcoin transactions typically take around 10 minutes to confirm, but can stretch much longer during congestion. Bitcoin Cash confirms transactions more quickly thanks to larger block sizes, reducing wait times for merchants and users alike.
Higher Throughput
With support for more transactions per second, Bitcoin Cash handles traffic surges better than Bitcoin. This scalability makes it a stronger candidate for widespread adoption in retail and e-commerce environments.
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These keywords reflect what Canadian users are searching for when exploring cryptocurrency investments — clarity, security, speed, and local accessibility.
How to Buy Bitcoin Cash in Canada: Step-by-Step
Purchasing Bitcoin Cash doesn’t require technical expertise. With regulated Canadian exchanges, the process is simple and compliant with local financial regulations.
Step 1: Create an Account
Start by signing up with a reputable crypto exchange that operates in Canada and supports BCH trading. During registration, you'll need to verify your identity — a standard requirement under anti-money laundering (AML) laws.
Verification usually includes:
- Email confirmation
- Phone number verification
- Government-issued ID upload
Once verified, your account will be ready to fund and trade.
Step 2: Add Funds Using Interac e-Transfer or Bank Wire
Canadians prefer Interac e-Transfer for its convenience and speed. Many platforms allow instant deposits via Interac, enabling you to buy Bitcoin Cash within minutes of funding your account.
Bank wire transfers are also supported on some platforms, though they may take longer to clear.
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Step 3: Buy Bitcoin Cash Instantly
After funds appear in your account, navigate to the trading interface. Search for Bitcoin Cash (BCH) and select the amount you’d like to purchase. Most platforms offer market pricing with real-time quotes.
You can choose to buy a full coin or a fraction — there’s no minimum requirement preventing small investors from getting involved.
Where to Store Your Bitcoin Cash Safely
After purchasing BCH, secure storage is essential. Leaving funds on an exchange long-term carries risk, so consider your options:
Exchange-Based Wallets
Most platforms provide built-in wallets where you can store BCH securely. These wallets often feature:
- Two-factor authentication (2FA)
- SSL encryption
- Cold storage for the majority of user assets (up to 99%)
While convenient for active traders, these are best used for short-term holding.
Hardware Wallets
For maximum security, transfer your BCH to a hardware wallet — a physical device that stores private keys offline. Popular options include Ledger and Trezor, which protect against online hacking attempts.
How to Sell Bitcoin Cash in Canada
Need to cash out? Selling BCH follows a similar process:
- Log into your exchange account
- Navigate to your holdings and select Bitcoin Cash (BCH)
- Click “Sell” and enter the amount
- Confirm the transaction
Proceeds are converted to Canadian dollars (CAD) and deposited into your linked bank account, usually within 1–3 business days.
Frequently Asked Questions (FAQ)
Is Bitcoin Cash legal in Canada?
Yes, Bitcoin Cash is fully legal in Canada. It’s treated as a commodity by regulators, and buying, selling, or trading BCH is permitted through registered exchanges.
Are there tax implications when buying or selling BCH?
Yes. The Canada Revenue Agency (CRA) considers cryptocurrency transactions taxable events. Capital gains or business income may apply depending on usage and frequency of trades.
How fast are Bitcoin Cash transactions?
Most BCH transactions confirm within seconds to a few minutes, significantly faster than standard Bitcoin transfers.
Can I buy fractional amounts of Bitcoin Cash?
Absolutely. You can purchase any amount of BCH, even as little as $1 worth, making it accessible for all types of investors.
What makes a crypto exchange safe?
Look for platforms that offer two-factor authentication, cold storage for assets, regular audits, transparent fee structures, and responsive customer support.
Why isn’t my bank allowing me to send money to a crypto exchange?
Some banks flag crypto-related transfers due to fraud prevention policies. Use exchanges with established banking relationships and clear transaction descriptions to reduce issues.
Final Thoughts: Is Now the Right Time to Buy?
Bitcoin Cash remains a viable option for those seeking practical utility from cryptocurrency. Its focus on fast, low-cost transactions sets it apart from other digital assets focused solely on investment returns.
For Canadian residents, the infrastructure to buy and use BCH is well-established — with secure exchanges, local funding methods, and growing merchant acceptance.
Whether you're new to crypto or expanding your portfolio, taking the first step has never been easier.
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