How to get a Bitcoin Cash Wallet? – one thing will surely come to your mind. Before starting trading and mining of Bitcoin Cash, you will need to get a tool that allows you to keep the cryptocurrency that is a wallet.
Bitcoin was born about nine years ago, and today it is stronger than ever: it was not only the first cryptocurrency in the world but at the moment it is also the most precious, stable and popular.
Before proceeding further to how to get a Bitcoin Cash Wallet, let us first learn what is this Bitcoin Cash wallet? What is difference between bitcoin and bitcoin cash?
What is the Bitcoin Cash Wallet?
A wallet is made up of two long random numbers and letters. One of these strings is the public address of the portfolio, used by other users to send Bitcoin Cash (BCH). Read more about BCH wallet here.
The other is the private key, that allows you to access your balance and sign transactions. You should always keep your private key safe: if it is lost or forgotten, you will no longer be able to access the wallet. Likewise, if someone obtained the private key of another user, he could easily steal all his funds.
How to request Bitcoin Cash?
All users already in possession of Bitcoin before August 1, 2017, are entitled to the same amount of Bitcoin Cash (BCH) tokens. The method of requesting these tokens varies according to the type of portfolio used.
If you are using a full node portfolio, that is to say, a wallet that requires downloading the entire Blockchain to the device, simply back up the wallet.dat file. Once completed, you will need to import this file into a full node portfolio that supports Bitcoin Cash, such as Bitcoin ABC, and BCH tokens will be immediately available.
Treasure in a Smartphone:
For security reasons, we recommend installing the Bitcoin Cash (BCH) full node portfolio on a different computer than the Bitcoin one. This is because some full node portfolios use the same folder for different cryptocurrencies, and performing this operation could lead to data overwriting, losing both Bitcoin and Bitcoin Cash forever.
Those who prefer to use a lighter SPV (Simplified Payment Verification) portfolio, which does not require the entire Blockchain to be stored on their machine, the procedure is slightly simpler. In fact, most of these portfolios use a recovery seed, that is a sentence containing the private keys for Bitcoin and, consequently, for Bitcoin Cash. To access your BCH, it will, therefore, be sufficient to insert the seed within the portfolio.
Bitcoin wallet protection:
Most of the exchanges that support Bitcoin Cash also automatically offer their users a portfolio. However, for security reasons, we recommend that you keep your coins in a different medium. The platforms that offer this kind of services are in fact in possession of the private keys of the users and, consequently, of all their funds.
In the past, we have seen countless cases of exchanges attacked by hackers who have lost customer funds and have not offered any kind of reimbursement. Other platforms have suddenly disappeared into thin air, escaping with users’ money.
A paper portfolio is basically a paper print of your private and public key, normally in the form of a QR code to simplify its use. A paper portfolio is a type of “cold storage”, it is the safest method of keeping one’s cryptocurrencies as it avoids any contact with the network, thus making it immune to potential cyber attacks. Once printed, the sheet of paper can be kept in a safe, kept under the pillow or buried in the garden: the decision rests solely with the user.
The simplest way to make a paper wallet is to create a wallet.dat file containing the private keys, print the codes and then delete the original file from the computer.
BitcoinPaperWallet is a service that allows you to create paper wallets of the most disparate shapes and colors; Mycelium offers a USB device to be connected directly to the printer, thus avoiding contact with computers.
Unlike portfolios automatically provided by the exchanges, software wallets are installed on your computer or mobile device. Most of these keep the private key offline, in the same device in which they were installed. Creating a software portfolio is very simple: just download the appropriate application and follow the on-screen instructions.
Most software portfolios support numerous cryptocurrencies. That allows you to create multiple portfolios. Some applications, such as Jaxx and Exodus, also support ShapeShift, a technology that allows instant exchanges between the various cryptocurrencies supported.
In the world of cryptocurrencies, the hardware portfolios are without a doubt the safest. Externally they resemble traditional portable hard disks but have been specifically designed for the storage of digital coins.
However, unlike the storage methods listed so far, these portfolios are not free. But their price is more than justified, especially when you have large amounts of Bitcoin Cash. Unfortunately, since it is a fair niche product, it is not always easy to buy one.
Once you have found you way how to get your bitcoin cash wallet, then you can use this at many sites for various purposes such as gambling. You can easily find an bitcoin sports betting site, that also accepts deposits with Bitcoin cash.
So this is the procedure on how to get a Bitcoin Cash wallet and how you can keep it securely.