We’ve recently observed Bitcoin (BTC) forks. In these terms, Bitcoin Cash (BCH) is one of the most successful Bitcoin’s splits that continues to gain popularity and attract new users. Being on the market for two years, Bitcoin Cash enables a larger block size (8MB), and, consequently, can handle up to 116 transactions per second.
More about Bitcoin Cash (BCH) cryptocurrency.
Due to this fact, some users may prefer the BCH network over Bitcoin. But how to set up a Bitcoin Cash wallet for safe and secure storage? We are going to provide a comprehensive guide on different types of BCH wallets. Get on board!
Find out all about Bitcoin Cash (BCH) future for the next five years.
Table of Contents
Bitcoin Cash (BCH) Software Wallets
Software wallets can be installed on your computer (a desktop, a web wallet) or mobile devices. Please note that each wallet you trust your funds with, is required for in-depth research. We also kindly remind you to store your private keys safely and not to share them with anyone.
Bitcoin Cash (BCH) Desktop Wallets
Exodus provides an efficient and convenient desktop wallet that stores BCH coins in a cold manner (offline).
Desktop wallets are more difficult to hack than a mobile or browser wallet. Yet, every time you want to put your assets into a particular wallet, it is vital to do some check-ups: research the history of a wallet, check up the latest updates in changelogs or on GitHub, read the reviews (especially the negative ones), pay attention to the social networks (they should provide the latest posts).
Electron Cash offers a BCH desktop wallet available for Linux, Windows, and macOS. It is an SPV wallet (Simplified Payment Verification) that doesn’t require a full node downloading.
According to the Electron Cash definition of SPV, this method allows a wallet to provide strong security without the need to download the blockchain or run a full node. SPV lets you validate your transactions by ensuring they are confirmed in the blockchain. It uses the best header chain with the most cumulative proof of work and the correct hashing difficulty level.
The guidelines on setting up a Bitcoin Cash desktop wallet are pretty straightforward:
- Select a wallet that seems to suit you well;
- Download a wallet from the official sources. Choose the one compatible with your operating system;
- Start managing your crypto via a desktop wallet in a secure way.
Bitcoin Cash (BCH) Mobile Wallets
Pretty much every cryptocurrency mobile wallet has a native interface for a better user experience. Most of them are multi-currency wallets meaning you can store multiple digital assets in just one application.
Another option for the safe storage of Bitcoin Cash is Coinomi. The wallet enables custody for a range of crypto assets and provides intuitive design and UX.
Freewallet is considered to be a multi-currency wallet. However, it offers a separate application for some coins, including BCH. With handy design in mind, Freewallet is available for Android and iOS mobile devices.
How to set up a BCH Mobile Wallet:
- Choose BCH mobile wallet. Remember that you trust it with your holdings;
- Download a mobile application of a particular wallet in GooglePlay (for Android) or AppStore (for iOS);
- Set up your account or import private keys for a quick start;
- Manage cryptocurrency at your fingertips.
More multi-currency wallets to store your assets in Changelly’s review.
Bitcoin Cash (BCH) Hardware Wallets
Hardware wallets provide better security for the cryptocurrency storage as they keep your private keys offline. A hardware wallet is a small and portable device that aims at guarding your cryptocurrency at its best. It allows you to store a wide variety of cryptocurrencies that is not quite possible on software wallets.
Ledger Nano model X/S is the synonym of a hardware wallet for the whole industry. Stylish design and convenient size, let you take your cryptocurrency wherever you.
Trezor is the Ledger’s main competitor and treats your BCH and hundreds of other assets securely.
- Choose a hardware wallet that works perfectly for your needs;
- It takes you some time to order, buy and deliver the device;
- Set up the pin code for the hardware device. Write down the recovery phrase and keep it secure. This is the backup of your private keys, in case of emergency;
- Download an application for a particular cryptocurrency, if needed;
- Manage your BCH coins securely.
Wondered what’s the difference between Ledger Nano and Trezor? The answer is in wallets comparison article.
Bitcoin Cash (BCH) Paper Wallets
If you are afraid of hackers as much as millions of Internet users are, it is possible to use the BCH paper wallet.
In its core, a cryptocurrency paper wallet is a piece of paper with public and private keys printed on it. No web hacker can steal your data. However, it is crucial to treat this piece of paper nicely. Otherwise, you cannot recover your funds once a paper wallet is damaged and can’t reflect your keys properly. Some of the advanced crypto users prefer to laminate the paper with printed private/public/QR code keys and store it in a vault after that.
The creation of a Bitcoin Cash Wallet (BCH) Wallet requires some security measures to be taken.
- Check your device with antivirus software. Make sure your computer/mobile device lacks malware programs;
- Download a paper wallet generator and repeat step 1;
- When the generator is downloaded, turn off your Internet connection
- Generate a BCH paper wallet, write down or print your public and private keys;
- Delete your recent browser cash and scan your device with antivirus software once again;
- Here is a paper wallet that stores your BCH funds in a cold and offline way. Treat it like a precious jewel (which it actually is).
Before interacting with cryptocurrencies, a user should gain a solid knowledge base of basic cryptocurrency definitions. A crypto wallet stands among the most important ones. Providing a non-custodial service, Changelly cares about your security and offers more than 150 cryptocurrencies for instant swaps and purchases. Buy BCH with your credit card (Visa, Mastercard), bank transfer, or ApplePay and subscribe to our blog for the latest educational articles.
Changelly is a non-custodial instant cryptocurrency exchange service that acts as an intermediary between crypto exchanges and users, giving the latter an opportunity to exchange over 150 cryptocurrencies at the best market rates. Changelly offers its API and a customizable payment widget to any crypto service that wishes to broaden its audience and implement new exchange options.