Buying Bitcoin Cash (BCH) on the Huobi app is a straightforward process that allows you to quickly and securely enter the cryptocurrency market. This guide will walk you through the necessary steps, from setting up your account to making your first purchase, ensuring a smooth experience even for beginners.
Huobi is a globally recognized cryptocurrency exchange known for its robust security measures, user-friendly interface, and extensive range of digital assets. Whether you are looking to trade spot, futures, or other financial products, Huobi provides a reliable platform for all your crypto needs.
Prerequisites for Buying BCH
Before you start, make sure you have the following:
- A smartphone with the Huobi app installed (available for iOS and Android).
- A verified Huobi account.
- Funds available in your account, either in cryptocurrency (like USDT) or fiat currency, depending on your preferred payment method.
Step-by-Step Guide to Buying BCH on Huobi
Step 1: Download and Install the Huobi App
First, download the official Huobi app from the Apple App Store or Google Play Store. Avoid third-party sources to ensure you get the legitimate and secure application. Install the app and open it once the download is complete.
Step 2: Create and Verify Your Account
Open the app and tap on "Sign Up." You will need to provide a valid email address or mobile phone number and set a strong password. After registering, complete the Know Your Customer (KYC) verification process. This typically involves submitting a photo of your government-issued ID and sometimes a selfie for identity confirmation. Verification is crucial for higher withdrawal limits and enhanced account security.
Step 3: Deposit Funds
To buy BCH, you need to fund your Huobi account. Log in and navigate to the "Assets" section. Here, you can choose to deposit cryptocurrency or fiat money.
- Deposit Crypto: If you already own other cryptocurrencies like USDT or BTC, you can deposit them into your Huobi wallet. Select the currency, copy your unique wallet address, and initiate the transfer from your external wallet.
- Deposit Fiat: Huobi supports various fiat deposit methods, including bank transfer and credit/debit card purchases. Select your preferred method, enter the amount, and follow the on-screen instructions to complete the deposit.
Step 4: Navigate to the Trading Section
Once your account is funded, go to the "Markets" or "Trade" section of the app. Use the search bar to find "BCH." You can usually trade it against stablecoins like USDT or major pairs like BTC.
Step 5: Execute Your Trade
You will typically see two options: a simple "Buy" interface and a more advanced "Trading View."
- Simple Buy: Perfect for beginners. Select the "Buy" tab, enter the amount of BCH you want to purchase or the amount of USDT you want to spend, review the total, and confirm the order.
- Advanced Trade: For those who want more control. You can place limit orders (to buy at a specific price) or market orders (to buy at the current best available price). Enter your desired price and quantity, then place your order.
Step 6: Secure Your BCH
After your purchase is complete, the BCH will be credited to your Huobi spot wallet. For maximum security, it is highly recommended to withdraw your BCH to a private wallet where you control the private keys. 👉 Explore secure storage solutions
Why Choose Huobi for Your Crypto Transactions?
Huobi stands out for several reasons, making it a top choice for buying and trading cryptocurrencies like BCH.
- Security: Employs industry-standard security protocols, including multi-signature cold wallets for the vast majority of user assets, two-factor authentication (2FA), and anti-phishing codes.
- Liquidity: High trading volumes ensure you can buy and sell BCH quickly at fair market prices with minimal slippage.
- User Experience: The app is designed to be intuitive for newcomers while still offering advanced charting tools and order types for experienced traders.
- Asset Variety: Supports a wide array of cryptocurrencies, allowing for easy diversification of your portfolio.
Frequently Asked Questions
Is the Huobi app safe to use for buying BCH?
Yes, the Huobi app is considered safe. It utilizes robust security measures like cold storage for funds, SSL encryption, and mandatory identity verification to protect user accounts and assets from unauthorized access.
What are the fees for buying BCH on Huobi?
Huobi charges a maker-taker fee for trades. The standard rate is 0.20% for takers and 0.08% for makers, but these fees can be lower if you pay using HT (Huobi Token) or if you have a higher 30-day trading volume. Deposits are generally free, while withdrawal fees vary by cryptocurrency.
Can I use a credit card to buy BCH on Huobi?
Yes, Huobi supports buying cryptocurrencies directly with a credit or debit card through its third-party payment providers. This is a convenient option to go from fiat to crypto quickly, though it may involve a higher processing fee compared to other methods.
How long does it take to buy BCH?
If you are using a card or have pre-deposited funds, a market order for BCH is executed instantly. Depositing cryptocurrency from an external wallet can take between 10 minutes to an hour, depending on network congestion. Bank transfers may take 1-3 business days.
What should I do if my order isn't going through?
First, check your internet connection. Ensure you have sufficient funds in your account for the purchase. If you placed a limit order, it will only execute once the market reaches your specified price. For persistent issues, contact Huobi's 24/7 customer support.
Is there a minimum amount of BCH I can buy?
Yes, there is a minimum order size, which is usually a very small fraction of a BCH. The exact minimum can be found on the trade page when you enter your order amount.