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Bitcoin Cash Wallets

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Avatar for Syoshimaru
Written by   15
1 year ago

One of the most successful Bitcoin forks is Bitcoin Cash. After a divisive fork of Bitcoin, this peer-to-peer decentralized digital currency was introduced in 2017.

Finding the right wallet for your Bitcoin Cash (BCH) will make it much easier to store, access, and spend your coins whenever you want. So, which crypto wallets are the best for the BCH ecosystem?

Bitcoin.com

Regular BCH traders should consider the BTC.com desktop and mobile wallets, which deliver a wealth of features while remaining simple to use. Bitmain, the BTC mining giant, created the wallet in 2016, and it is available for Android and iOS. It was developed as a great first step for aspiring miners who wanted to enter the BCH pool and conveniently store their newly mined coins.

The wallet's simple interface and web support attract many users, making it easy to manage their Bitcoin Currency, Bitcoin, and Ethereum. The wallet's multi-signature transaction and two-factor authentication features also offer enhanced security and privacy to users.

The wallet has a hierarchical deterministic architecture that allows you to back up your coin holdings with a master "seed." You can also build friend lists and send BCH and other sponsored coins to them without having to enter complicated public addresses.

Coinomi

Coinomi is a popular non-custodial mobile wallet that provides excellent BCH security. Over 2.5 million users trust the common lightweight multi-coin wallet, which has been translated into over 125 languages.

Coinomi also supports multi-seed configurations for added security. The wallet can have its own encryption settings for each seed word, making it nearly impossible to hack.

Because of its modern and intuitive user interface, this wallet will be especially useful for beginners and experienced users who regularly trade BCH. They can also move between native segwit, accessibility, and legacy address formats with ease.

The wallet also has useful integrations with a range of exchanges, including Changelly and ShapeShift, which allow users to exchange their BCH for a variety of digital assets right inside the app. To discourage prying eyes from collecting data on users' spending patterns and/or purchases, the wallet hides their IP addresses.

Trezor One

Trezor One was one of the first hardware wallets in the crypto space, enabling users to store a variety of crypto assets offline.

Satoshi Laboratories, the wallet team, has a long history in the Bitcoin space, with team members mining BTC as early as 2010. As a result, Trezor One is closely related to the Bitcoin and BCH ventures.

The wallet's wide range of security features, including 2-factor authentication, GPG encryption, and encrypted cloud storage, make it suitable for long-term BCH storage.

Trezor One has an easy-to-use interface with a monochrome monitor and two buttons. Since the wallet is built on open-source software, advanced users can configure their devices to suit their unique requirements.

Satoshi Labs developed the Trezor Wallet web browser interface to access its innovative wallet. Users must first set up the system before using it to send and receive BCH and check balance values.

Electron cash

Electron Cash is a common open-source wallet for crypto users who want to manage BCH on their desktop.

The wallet is a fork of the Bitcoin Electrum wallet that only accepts BCH coins. It is available in desktop and mobile versions and supports Windows, OS X, and Linux operating systems.

This desktop wallet provides robust offline storage, with private keys never leaving your device and only being decrypted briefly when a transaction is signed.

Users keep complete ownership of their private keys and have a mnemonic seed term to back up their wallets.

Electron Cash is a lightweight way to manage your coins, needing less storage space and allowing for quicker access. To provide greater security, it employs the SPV (Simplified Payment Verification) transaction process.

It also supports Multisig and two-factor authentication (2FA), making it one of the most stable and user-friendly Bitcoin Cash wallets accessible.

Final thought

Cryptocurrency users who want to buy, store, or transact in BCH should look for the best Bitcoin Cash wallet they can find that ensures the security of their holdings. Depending on whether they want to actively trade or merely store BCH for longer periods of time, users can choose between a smartphone, desktop, or hardware wallet.

Choosing a wallet with a simple web interface will save beginners the time and effort of engaging with the crypto market through exchanges. Advanced crypto users would benefit from a wallet with built-in exchange features, which will enable them to exchange BCH for a number of other cryptocurrencies right from the wallet app.

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Avatar for Syoshimaru
Written by   15
1 year ago
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