What is Bitcoin Cash
Bitcoin Cash (BCH) is a peer-to-peer, decentralized digital currency introduced in August 2017, made up of a Bitcoin fork. Bitcoin Cash was created due to the BTC group’s differences in opinion about how to scale the network.
When people began using Bitcoin, the network was unable to keep up with the number of transactions. As a result, many Bitcoin users have been waiting for hours, even days, to see their transfers go through. When choosing a wallet, you must choose the right one to help protect your money against some hacker or scammer.
The biggest difference between Bitcoin and Bitcoin Cash is the scale of blocks on the network. Bitcoin Cash enables several transactions to be handled in one block by increasing the block size from Bitcoin’s 1 MB to 8 MB. The idea is to handle a greater number of purchases quicker and lower fees.
Another disparity between the two currencies is the extent of complexities found in mining. Bitcoin Cash mining depends depending on how many miners are involved in the network. Many Bitcoin miners have switched to Bitcoin Cash because it helps them make more money faster than Bitcoin mining.
Best Bitcoin Cash Wallet
1. Trust Wallet (Mobile Wallet)
Trust Wallet, a mobile wallet for ethereum and ERC20 tokens, has added support for bitcoin cash (BCH) on Android and iOS in the app’s latest update. Besides BCH, the service has also added support for similar LTC and BTC wallets.
Trust Wallet is becoming much more than a simple ethereum and ERC20 wallet. It has developed to support more than ten native blockchains, including their native tokens,
2. Ledger Nano S (Hardware Wallet)
If you have a Ledger Nano S, you don’t need to do anything to keep up your BCH after the fork. Ledger Nano S / Blue, Nano, and HW.1 users need to upgrade a few items here and there to get access to their BCH. Here’s the official CoinSutra article on how to assert your free BCH from the Ledger Nano S. And here’s the official Ledger blog post that further articulates the do’s and don’t
3. BTC.com (Desktop & Mobile Wallet)
BTC.com is one of the most common online and smartphone wallets operated by Bitmain Technologies, a Beijing-based business that is a well-established player in Bitcoin’s mining sector. It is designed to secure and convenient for Bitcoin Cash and Bitcoin to be sent, retrieved, and processed.
It is a hierarchical deterministic wallet that requires you to use a master “seed” to back up your holdings. The BTC.com wallet also facilitates multi-signature transfers and two-factor authentication. It’s available for models of Android and iOS.
4. Guarda Wallet (Desktop & Mobile Wallet)
Guarda Wallet is a multi-currency, custody-free wallet for over 45 blockchains and thousands of tokens. Storage is available in Online, Laptop, Smartphone (iOS, Android), and Chrome Plugin models.
Guarda supports Bitcoin BTC, Ethereum ETH, Bitcoin SV, Monero XMR, Zcash (Shielded transfers are also supported), Dash, Ethereum Classic, and more. Extended wallet features also enable built-in exchanges, transactions, sale of fiat cryptocurrency, and operation of the Ledger hardware wallet. Staking, delegation, and more currency-specific functionality of the supported blockchains are now available for Guarda users.
Guarda is secure because it does not hold any personal data from clients – all wallets are non-custodial, with backups encrypted and saved on the user’s device. From the point of view of stability, coin, and function support, and usability, Guarda is one of the best cryptocurrency wallets on the current market.
5. JAXX (Desktop & Mobile Wallet)
Jaxx is another common multi-currency HD wallet that lets you manage your private keys. They declared before the fork that Jaxx users did not need to do anything to use their BCH coins. The Jaxx team has agreed to focus on the full integration of BCH with Jaxx applications, and when the integration is complete, users will be able to access BCH coins with a quick software update.
6. Electron Cash (Desktop & Mobile Wallet)
Electron Cash is the forked variant of the Electrum wallet, the Simpler Payment Authentication (SPV) wallet for Bitcoin Cash. Electron Cash is distributed in both desktop and tablet models and is available for Windows, OS X, and Linux platforms.
It is a lightweight wallet that is very easy to use and helps you keep ownership of your private keys and back up your wallet with a mnemonic seed word. Multisig feature is also provided for an extra layer of encryption, making it one of the best bitcoin cash wallets for Android.
7. Edge Wallet (Mobile Wallet)
Edge wallet is one of the most prestigious multi-currency wallets, which can be used even by beginners. You can buy, store and trade multiple cryptocurrencies in a single app, where you are in total control over your private keys. Edge is focused on user privacy and security. Hence they adhere to cutting edge technology where the users can have secure access with just a PIN or touch ID.