A Guide To Bitcoin Cash Wallets (Updated 2019)

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Bitcoin Cash Wallets

Bitcoin cash is a new separate Blockchain and its currency code is BCH or BCC. The Bitcoin Cash is sent to a Bitcoin cash wallet address. Using the wrong wallet address may cause the loss of your Bitcoin Cash.

It is compulsory that one has a wallet before one starts transactions that may involve buying and selling with Bitcoin Cash. This is because a public address is usually required before funds can be transferred to someone. It is therefore important to mention that your private key/ password must not be given or accessible to anyone except you. Otherwise, scammers would steal everything you have worked hard for in a flash.

Online Bitcoin Wallets are also known as web wallets as they run in your web browser just like any other website. You should not store large amount of bitcoins on the web wallet as it is more prone to cyber-attacks. It is suitable to register with a cryptocurrency exchange having attributes of Bitcoin Cash so as to promote the fast approval of your wallet. To make sure your tokens are secure, try to keep them in a different wallet.

What is a node wallet?

A node Bitcoin Wallet is the most secured way to keep your tokens safe. To get the full benefits Bitcoin provides, it’s better to use a node wallet. This is done on a separate computer system. For your comfort, you can resolve to go for SPV (Simplified Payment Verification) wallet. With this kind of wallet, you don’t have to download the whole Blockchain. It is easier to make use of unlike the others. It’s also safe to use it to store small amounts of bitcoin as desktops are very prone to viruses that can steal the bitcoins.

What about Desktop wallets?

Software wallets are much more secured as they do not show your private keys as long as they are absolutely configured on your smartphones or computer system. Even so, most of the software application sellers would prefer multiple cryptocurrencies and grant you the opportunity to make different wallets.

Hardware Wallets

If you much interested in cryptocurrency security generally, this is the best to go for. It acknowledges two forms of authentication, one being the physical wallet and the other being the PIN code or password as a form of identification. It’s the most secured way to save Bitcoins. The wallets look like regular hard drives but are only used for keeping cryptocurrencies. They have a lot of backup options just to make the users have a more comfortable use. Most Hardware wallets come with a screen to allow you append your signature during transactions.

Node wallets has a lot of benefits in which a user gains from. This benefits are free cash tokens and are gotten when you download the whole blockchain. This is done by backing up the wallet into the wallet.dat file and then transferring the file into Bitcoin wallet and that’s all.

I’m a freelance writer and full-time curious person. My main interests are philosophy, politics, art, culture, science, and how they’re all interlinked. When I’m not writing, I’m fronting a band, producing records, and making videos. I’m also currently working on launching a YouTube channel that will focus on culture and politics. I think blockchain technology is fascinating because of the huge potential it has to revolutionise not only the financial sector, but society as a whole.