In this post, we look at Bitcoin cash(BCH) Wallets. The post reviews top wallets supporting bitcoin cash. This is a dynamic post and we will keep updating as we keep reviewing new BCH wallets. Lets jump on straight with the Bitcoin cash Exchanges and Wallets.
Bitcoin Cash(BCH) Exchanges:
- Via BTC
- BTC BOX
- Hit BTC
- BTC POP
- MERCADO BITCOIN
BitCoin Cash Wallets:
As we all are well versed with the facts and types of digital wallets that serves the purpose of providing a safe custody to the keys. Here is the list of wallets that are fully in sync with the current hard fork of Bitcoin i.e Bitcoin Cash. One of the requirements to deal with the newborn hard fork thread of Bitcoin is to acquire a wallet that works well with it.
So folks, let us explore the wallet options to keep the Bitcoin Cash:
1.Coinomi: Established in the year 2014, Coinomi is a digital mobile wallet firm that secures the private keys of multiple currency types like Bitcoin, Ethereum, Litecoin, Dogecoin etc. The wallet services are currently available for the android versions but soon will be rolled out for the IOS version as well. Coinomi can readily be installed from the Google app store that offers the robust security features for a safe custody of your currency keys. It also extends the service of Bitcoin conversion in the other currency forms (USD, EURO etc) that are universally accepted. The only lacking in this digital wallet is that it does not allow the multi-signature support.
2.Bitcoin Classic: Bitcoin Classic is prevailing as a desktop wallet to store your currency keys. It is consistent with the operating system of Windows, Mac, and Linux.
3.Bitcoin Unlimited: Bitcoin Unlimited is a desktop wallet that supports the Bitcoin Cash. It is fully congruent with the Windows, Mac and Linux operating systems.
4.Trezor: Trezor is a renowned brand of hardware wallet for keeping the private keys of the virtual currencies. Trezor is best known for its authentic and strong security features. It supports the two-factor authentication, meaning multi-signature support. Trezor is a multi-currency wallet, adaptable to the software of TREZOR Wallet, Mycelium, Electrum, Etherwall and lot more. Chrome and Firefox are the trusted browsers to carry out the transactions safely with the Trezor device.
5.BTC.com: BTC.com is a web and mobile wallet.
6.Ledger : (hardware wallet): Ledger Nano S is a multi-currency hardware wallet, that gives a safe purview to your digital keys. Featuring a USB attachment and OLED display, the Ledger Nano S allows a double check for each transaction with a single tap. The compatibility of the Ledger Nano S stands for the system like Windows (7+), Mac (10.8+), Linux or Chrome OS etc. Ledger Nano S establishes a quick sync with the digital wallet software of Ledger Wallet Ripple, Ledger Wallet Bitcoin, GreenBits, MyEtherWallet etc.
7.Electron Cash (Desktop and Mobile Wallet): Splitting the ways from original bitcoin wallet Electrum, Electron Cash is the fork for managing the keys for Bitcoin Cash, which is easily available for the Android version. Electron Cash being a desktop wallet too, operates for the systems like Windows, Linux, and Mac as well.
8.Cash Address: Cash Address is a paper wallet where all the necessary data pertaining to a particular user is enclosed in a paper. The best trait of Cash Address Wallet is the protection of the sensitive data (currency keys) from the cyber frauds. The other side of the coin is that in the event of its loss/misplacement, the key can easily be misused by the person other than the concerned party.
9.Keepkey: Keepkey is a hardware wallet with superior features to protect the encrypted key of your currency. it supports the multiple forms of virtual currencies like Bitcoin, Ehereum, Dogecoin, Litecoin, Namecoin and Dash. It comes with the OLED display and confirmation button to verify the transactions. The downside of Keepkey wallet is its cumbersome built which puts the hurdle in the way of it being handy.
10.Jaxx: Jaxx is a mobile and desktop wallet supporting Bitcoin Cash, Ehereum, Ethereum Classic, Dash, Litecoin etc. It is developed by Kryptokit. Offering simple interface, Jaxx displays the spendable balance and operates on automate updations rather than personal customisation. Jaxx is available for Windows, Apple, Linux desktop along with the Android, iOS mobile and tablet serving in the capacity of being a mobile wallet.
So before we jump to looking at the wallets which support Bitcoin cash, let us look back at the genesis of Bitcoin Cash. How the hard fork happened. And how Bitcoin cash has been doing till now
A bit of History:
If you were only looking for BCH wallets, you can drop out and just leave your comment in the post to interact :). For curious soul, we have aggregated a bit of timeline and history of Bitcoin cash, keep reading.
Time Line for Bitcoin Cash
A notable explanation to the hard and soft forks:
Andreas Antonopoulos describes the difference between hard and soft fork like this:
If a vegetarian restaurant would choose to add pork to their menu it would be considered to be a hard fork. if they would decide to add vegan dishes, everyone who is vegetarian could still eat vegan, you don’t have to be vegan to eat there, you could still be vegetarian to eat there and meat eaters could eat there too so that’s a soft fork.
Amaury Séchet revealed the Bitcoin ABC (Adjustable Blocksize Cap) project and announced the upcoming hard fork. Following the announcement, and after Bitcoin ABC’s first client release, the project “Bitcoin Cash” (BCC) was announced which came into full effect on August 1, 2017.
Key Features of Bitcoin Cash
- PoW (Proof of work)- The PoW algorithm for BitCoin Cash (BCH) is SHA256
- The mining hardware for BitCoin Cash remains unchanged as that of Bitcoin,i.e. ASIC mining hardware.
- The block size of BitCoin Cash has been expanded to 8 MB.
- The block interval time of the Bitcoin Cash is 10 minutes likewise its other forks/folks.
- Bitcoin Cash does not have ‘Replace by fee’ feature, meaning low-fee transactions to be rebroadcasted and include a higher fee.
- It does have replay and wipe out protection
- It does not follow the Segwit model of extended block (separate block for digital signatures)
Key Differences between Bitcoin Cash and Bitcoin
The evident difference between the Bitcoin and Bitcoin Cash lies in the block size that allows the expeditious process of recording entries in the ledger giving room to more number of transactions in concert than it used to allow earlier. The lowering of transaction fee with the increased size of the block was yet another attractive attribute of Bitcoin Cash that worked in the best interests of the major community of Bitcoin than a small pool of miners. Making Bitcoin a more viable option for the general masses, Bitcoin Cash has effectively dealt with the fallacy of block size surfacing the progressive path of the first ever cryptocurrency i. e Bitcoin!
Conclusion: The numerous options in terms of desktop, mobile, web, hardware and paper wallets are available suiting the distinctive needs and requirements of the customers. Each category is equipped with certain pros and cons. For instance, where on one side, hardware wallets provide more advanced and superior features than the paper wallet, so is it exposed to the greater risk of cyber frauds. Similarly, where mobile wallets play its best for being a flexible mode but somewhere lacks in comparison to the desktop wallets with regard to the strict security vigil. The choice of wallet must be made keeping in view the purpose and frequency of ones indulgence in the play of virtual currency.