Before you start learning about the Bitcoin Cash Wallet you should learn something about the wallet.
The wallet is the account or safe place where you keep your Cryptocurrency. It consists of a set of a very long key which is used to keep the money you deposit safe.
First one is the public key which is known to everyone and to where you send off your money to. Whereas the second one is the private key, this key is not visible to anyone except you. It can be difficult but very important to keep your account safe. You should not share that key with anyone if you do then you might lose all the money you have stored in the wallet.
In this article, we are going to discuss the Bitcoin Cash Wallet. To have it all you have to do is to buy the Bitcoin cash from the exchange which provides you the currency. You will automatically have the wallet in your possession but the problem is most of the exchanges have suffered the hacks. So it not safe to keep in those wallets then where is it?
Bitcoin Cash Wallet
Here are some of the ways or things which can be useful for you to store the bitcoin cash.
If you want to store your currency in a safe place then cold storage is one of the best options. A paper wallet is one of the methods of storing your currency in the cold storage. In this, you will have your public and private both the keys printed keys together. But there is no need to worry about that the keys are in the form of the QR code which is not legible by the common person.
The currency you will be stored in the paper wallet will completely offline mean it is completely hacked proof. But the only problem with that is it can be stolen easily. So it is better to store them in the safety deposit box once you have bought the bitcoin cash you desired. This procedure will make it safe until you want to spend them.
Some of the common online services which can help you generate the paper wallet are:
Software Bitcoin cash Wallets
If you are trading the bitcoin cash on a regular basis then it can be the best option for you to store in the software wallets. Software wallets in which you are storing is an application which can be installed in your mobile or computer devices.
In this wallet also you will be getting the private key and the public key. The public key will be addressed where you will be sending off or receiving the bitcoin cash. Whereas the private key which you will receive will be stored by you offline. By this method, you will be keeping the currency safe and will reduce the chance of getting hacked or your currency being stolen.
There is different software which provides you the service of online wallet. All you have to do is download them and follow the instructions provided by them. The wallets you will be using to store the Bitcoin cash also provide the facility of storing the other cryptocurrencies as well. These wallets you will be using will not only be used on any operating system. Different wallets work on the different operating system. Some of the example you can download for the storage of the bitcoin cash are:
- Electron Cash – MacOS, Windows, Linux, Android
- com – Online, iOS, Android
- Bitpay – MacOS, Windows, Linux, iOS, Android
- com – MacOS, Windows, iOS, Linux, Android
These are some of the common examples of the bitcoin cash wallets. You can also use the wallets such as Unit, Mobi, Stash, StrongCoin, Coinomi, Jaxx, Exodus. So use these wallets and save your money from getting stolen.
Hardware Bitcoin Cash Wallets
If you are trading in the cryptocurrency then the security becomes one of the things you rely on most. There are some of the methods to keep them safe and using the hardware wallets to store the bitcoin cash is one of them.
It is considered as the safest way to store the bitcoin cash if you want to store it. These hardware wallets you will be using will look like a portable hard disk but they are specifically designed to store the cryptocurrencies.
The transactions they will be generating will be offline and on the go. This means that you can plug these devices in any computer and then you can make the transaction.
Just like the paper wallet, they are immune to the cyber attacks and hackings. You will be getting the option of securing the wallet with the two-factor authentication or a PIN password. There is an option of the screen on the wallet so you can transact on the wallet as well.
Some of the common hardware wallets which are popular in the market are:
- Ledger Nano S
These are some of the common Bitcoin Cash Wallet which can be used by you to store the Bitcoin Cash. If you are interested in trading the bitcoin cash then you should go for the option of hardware devices as it can be the safe and fast way to transact the coin without the chance of getting hacked.