How to get a Bitcoin Cash Wallet? Bitcoin Cash (BCH) is a cryptocurrency created by a so-called Hard Fork, a spin-off of Bitcoin, launched in August 2017.
Their goal is to solve existing Bitcoin problems and to be a lucrative, faster growing and faster alternative. The most significant changes to Bitcoin Cash are the expansion of the maximum block size to 8 MB by a software fork of the Bitcoin transaction format as well as an improvement of the scalability through the implementation of the Lightning network.
If you are interested to invest in Bitcoin Cash (BCH), you first need to create a wallet. Here we will discuss how to get a bitcoin cash wallet?
How to get a Bitcoin Cash Wallet?
Although critics have not yet fallen silent, it is clear that bitcoins and blockchain technology will determine the digital economy of the future. But even the most ardent advocates realize that the security aspect plays a central role.
While cryptographic technology does not leave vulnerabilities open, cryptocurrency management must be done carefully to eliminate risk. Bitcoin Cash Wallets are the key in the literal sense.
It is the gateway to the Bitcoin world. They manage existing digital capital and all transactions. For beginners, it is usually a bit confusing at first glance. With a little patience and care, the risk is manageable.
Steps how to get a Bitcoin Cash Wallet :
You can create your Bitcoin Cash Wallet in 3 steps and have full security. Here we show what is important and for quick readers here the summary:
Select the right wallet. It depends not only on which provider you choose, but also on the download source. Due to the popularity of Bitcoin, some imitations with malware are in circulation.
Select the appropriate basic settings. Beginners and advanced users have different expectations for the functions. Advanced settings (such as two-factor authentication) can increase security but make handling more complicated and error-prone.
Get to know the most important features and processes. Even though Wallets are now very user-friendly, it makes a difference whether you log in to an online game or send digital coins.
What are Bitcoin Wallets and which is recommended?
Bitcoins are digital currency and all the magic is technically quite extensive but explained pretty quickly:
The blockchain is a public account book that stores all the transactions of the network. Differences between Bitcoin and bitcoin cash.
The Bitcoin Cash Wallet is the personal account sheet, which manages the transactions of the respective user and regulates access to the blockchain.
The public bitcoin address or public key is similar to the function of an account number.
After all, the private key is the password, the key used to secure access to your own public address.
The smooth interaction of these four levels provides security, but can often be a hurdle for beginners. While the blockchain and public address are visible to everyone, access to the wallet and private key are sensitive and should be reserved for the user.
Anyone who wants to immerse themselves in the world of cryptos must, therefore, think about the right solution and handling.
You can user your bitcoin cash wallet in many purposes, like shopping, trading, betting. There a lot of bitcoin betting sites who also offers deposits in bitcoin cash.
Get a Bitcoin Cash Wallet :
Types of wallets:
Basically, there are 3 types of wallets can be distinguished. All of which have their advantages and disadvantages:
1. Desktop and Software wallets:
Advantage: Private storage and secure against public attacks easier and more mobile access Safe from hackers.
Disadvantage: More effort risk of hacking attacks cumbersome handling.
Bitcoin Cash Wallet – Mobile software wallets:
These are still the most popular digital wallets. They are installed on your own desktop and allow all freedom in dealing with their own Bitcoins. For all those who have familiarized themselves once with the basic security issues and the handling of password and private key, outweigh the benefits.
2. Online Wallets:
Online wallets are the simplest electronic wallets. They are easy to set up and accessible from anywhere. Anyone who trades coins online will not be around them either. Each platform offers an online wallet. In most cases, however, it is safest to only ever deposit the quantity that is needed for trading online. Read more about online wallets here.
3. Hardware wallets:
These are the safest type. Bitcoins go offline, i.e. completely disconnected from the network, saved. In most cases, these are special USB sticks, which are additionally encrypted. Recently, so-called paper wallets have become increasingly popular. They are easy to manufacture and bitcoins can be safely deposited.
Why a full node is not always recommended?
Unlimited access to the Blockchain is possible with the so-called Bitcoin Core. It contains all the software of the cryptocurrency. Anyone who installs it has everything it needs to manage its bitcoins and at the same time participate in securing the network.
Running a full node is recommended for private users but only in exceptional situations. There are some crucial infrastructure requirements that are often beyond a private framework:
The core now has 145 GB and the initial installation takes days to securely match all existing blockchain information.
The constant data exchange requires high bandwidth for download and upload; many providers limit the upload rate for home users.
The installation of a full-node, especially on Windows systems, can conflict with existing anti-virus programs and deeper settings in the system are necessary.
Why are bitcoin light nodes recommended?
For private users, there are now a variety of ways in which they can choose. They are usually light nodes that provide only the wallet feature. Depending on the provider, access to the blockchain is established via one or more servers. They allow full access with minimal requirements for your own infrastructure.