For every Filipino here in read cash, I hope and think you can relate to me. I am going to write this in English even though I want all of Filipinos in here to hear and read this but also everyone can understand this and help me.
My questions are:
First, I wanted to know what BCH wallet are you using? Because BCH wallet here in the Philippines is all I know is coins.ph. I know everyone is using different wallet right? But most of us (Filipinos, are using Coins.ph because only Coins.ph is the wallet we can exchange BCH to PHP. And I am not against coins.ph but I noticed their exchange rate or the value of BCH is $10 lower and that bugs me. Whenever I check the BCH rate at coinmarketcap and then check my coins.ph wallet, they're different.
Second, also it is only the one we can use. My concern is just what if it got hacked? Or somewhat forgot some details like the email or the cellphone number got invalid (it happens when you don't use it or recharge it more often.
I will try and ask the company but I wanted to ask you guys first and maybe I can get an answer sooner than their support team.
Third, Binance wallet recently made a p2p trading. But my problem is there no BCH. LOL. I have no bank account to trade.
Fourth, I am wondering how and why only coins.ph is the only cryptocurrency wallet we ever have? LMAO, I found out about localbitcoins.com but obviously, only BTC is trading.
I wanted to use and promote BCH with the wallet having the right value in it. I hope someone can help me.
You may add your concerns and solutions in the comments and I can add it here too. Let's build BCH in the Philippines!
...and you will also help the author collect more tips.
The post from @Telesfor is really good advice, "only store BCH in wallets you have the seed to. " Historically, it was pronounced that you should treat cryptocurrency as "if you don't control the keys, you don't own the funds." Of course you currently must send BCH to the hosted wallet when you want to exchange for fiat funds, so you simply have to accept the risk taking place while you give a third party control of part of your funds. That is the same as the risk of the read.cash wallet. Technically, you can send funds to read.cash, but if a bug occurs or someone finds an exploit, you could lose those funds because you allowed your read.cash and your browser to control the keys even though you do have them. Personally, I used to run a BUCash node, but I finally decided I didn't need a copy of the blockchain, so I am now running Electron Cash (to avoid scams, only get the desktop version at https://electroncash.org/ and not anywhere else, and see if that site tells you how to make sure any mobile version is legitimate before giving a mobile version seeds or keys). I believe Electron Cash forked from Electrum (BTC wallet) and is maintained by @jonald_fyookball. I have nothing against the bitcoin.com wallets, but I have personally never tried any version of them. I imported my read.cash wallet seed to Electron Cash AND generated a separate wallet where I keep other funds. This is a great solution for a tech person like myself using a desktop PC, but that doesn't necessarily mean it's not a good solution for the average joe as well.