Purchasing Bitcoin Cash (BCH) has become increasingly accessible, especially with major cryptocurrency exchanges like Binance integrating direct fiat-to-crypto purchasing options. If you're looking to buy Bitcoin Cash quickly and securely using a credit card, Binance offers a streamlined process through its partnership with Simplex, a trusted payment processor. This guide walks you through every step of buying BCH with a credit or debit card on Binance—ensuring a smooth, secure, and efficient transaction.
Whether you're new to digital assets or expanding your crypto portfolio, understanding how to acquire Bitcoin Cash using traditional payment methods is essential in today’s evolving financial landscape.
Setting Up Your Binance Account
Before purchasing Bitcoin Cash, you’ll need to create and verify an account on Binance, one of the world’s leading cryptocurrency exchanges. Due to its popularity, always ensure you’re visiting the official website—binance.com—to avoid phishing scams.
To get started:
- Visit binance.com and click “Register.”
- Provide your email address and create a strong password.
- Complete identity verification (KYC) if you plan to buy crypto with a card. While Binance allows limited withdrawals without full KYC, purchasing with fiat requires personal details for compliance and security.
Once your account is active, log in and navigate to the “Funds” section from the top toolbar, then select “Buy with Credit/Debit Card.”
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Choosing Bitcoin Cash (BCH) and Confirming Your Purchase
On the “Buy with Credit/Debit Card” page, you can select Bitcoin Cash (BCH) from the list of available cryptocurrencies. Binance supports purchases in USD and EUR, making it convenient for users across different regions.
Enter the amount of BCH you'd like to buy. The system will automatically display the equivalent fiat value, including fees. Keep in mind:
- Minimum purchase: $50 USD equivalent
- Maximum purchase: $20,000 USD equivalent per transaction
The service charges a processing fee of 3.5% or $10—whichever is higher. This fee covers the cost of instant card processing via Simplex. While this may seem steep compared to bank transfers on platforms like Kraken or Bitstamp, the trade-off is speed and convenience.
After entering your desired amount, review the total charge carefully. When ready, click “Continue” to proceed.
Completing Identity Verification Through Simplex
Since Binance uses Simplex as its payment gateway for card transactions, you’ll be redirected to their secure interface to finalize the purchase.
You’ll need to provide:
- Full name
- Date of birth
- Phone number (verified via SMS code)
- Email address (verified via confirmation link)
- Billing address
This information is collected for anti-fraud and regulatory compliance purposes under AML (Anti-Money Laundering) standards.
Once submitted, Simplex will prompt you to verify your phone number with a 4-digit code and confirm your email through a verification link. Accuracy here is crucial—any mismatch may delay or cancel your transaction.
Entering Your Card Details Securely
After identity verification, enter your Visa or Mastercard details directly into Simplex’s encrypted payment form. This includes:
- Card number
- Expiration date
- CVV code
- Name on card
Simplex does not store your card information long-term and uses advanced encryption to protect your data during transmission.
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Finalizing the Transaction and Receiving BCH
Once all details are confirmed and payment is authorized, Simplex processes the transaction. Binance then executes your order and deposits the purchased Bitcoin Cash into your Binance wallet.
Typically, funds appear in your account within 10 to 30 minutes. You can check your balance by going to “Wallet” > “Overview” and filtering for “BCH.”
It's important to note that while credit card purchases are fast, they come with higher fees than alternative funding methods such as SEPA transfers or ACH deposits. However, for users prioritizing immediacy—such as those capitalizing on market movements—this method offers unmatched convenience.
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Frequently Asked Questions (FAQ)
Can I buy Bitcoin Cash (BCH) directly with a credit card on Binance?
Yes. Binance allows users to purchase Bitcoin Cash directly using Visa or Mastercard through its integrated partnership with Simplex. The process is secure, requires identity verification, and typically completes within 30 minutes.
Is there a fee for buying BCH with a credit card on Binance?
Yes. Binance charges a processing fee of 3.5% or $10, whichever is greater, for credit/debit card purchases. This fee is standard for instant fiat-to-crypto transactions due to payment processing costs.
Why do I need to verify my identity to buy BCH?
Identity verification is required by financial regulations (KYC/AML) when converting fiat currency to cryptocurrency. It helps prevent fraud, money laundering, and ensures platform security.
How long does it take to receive BCH after purchase?
In most cases, Bitcoin Cash will be credited to your Binance wallet within 10–30 minutes after successful payment and verification.
Are there alternatives to buying BCH with a card on Binance?
Yes. You can fund your Binance account via bank transfer (lower fees), peer-to-peer (P2P) trading, or use other exchanges like Kraken or Bitstamp that offer lower-cost fiat on-ramps.
What should I do if my transaction fails?
If your purchase fails, first check your email for messages from Simplex or Binance. Common causes include incorrect card details, insufficient funds, or failed verification. Retry the process or contact customer support if issues persist.
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Final Thoughts
Buying Bitcoin Cash (BCH) with a credit card on Binance is a simple and effective way to enter the cryptocurrency market quickly. With just a few clicks, verified personal information, and a valid payment card, you can own BCH in under 30 minutes.
While the 3.5% fee may deter cost-sensitive investors, the speed and ease of acquisition make this option ideal for beginners or traders acting on time-sensitive opportunities.
Always remember: cryptocurrency investments carry risk. Only invest what you can afford to lose, store your assets securely, and stay informed about market trends and platform updates.
By following this guide, you now have all the tools needed to confidently buy Bitcoin Cash using your credit card on Binance—safely and efficiently.