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Bitcoin Cash is one of the most popular Bitcoin forks. This peer-to-peer decentralized digital currency was launched in 2017 after a controversial fork of Bitcoin (BTC).
Finding the right wallet to store your Bitcoin Cash (BCH) can make it easier to store, freely access, and spend your coins at any time. So which are the best crypto wallets for the BCH ecosystem?
Coinomi (Mobile Wallet)
Coinomi is a popular non-custodial mobile wallet that offers great security for your BCH. The popular lightweight multi-coin wallet is trusted by over 2.5 million users and is translated into more than 125 different languages.
Its Hierarchical Deterministic design offers native support for over 125 blockchains and implements the strongest security standards and privacy. The wallet obscures users’ IP addresses to prevent prying eyes from gathering data on their spending habits and/or transactions.
Moreover, Coinomi supports multi-seed setups for enhanced security. Each seed phrase can have its own encryption settings, making the wallet virtually impossible to hack.
First-timers and advanced users who actively trade BCH will find this wallet particularly handy due to its modern and intuitive user interface. They can also easily switch between native segwit, compatibility, or legacy address formats.
BTC.COM (Mobile + Desktop Wallet)
Regular BCH traders who are looking for a feature-rich yet easy to use wallet should consider the BTC.com desktop and mobile wallet. The wallet, which is available for android and IOS versions, was developed by BTC mining giant Bitmain in 2016. The developer designed it to serve as a great first step for aspiring miners joining the BCH pool and conveniently store their newly mined coins.
Many users are drawn to the wallet’s simple interface and web support that makes it convenient to handle their Bitcoin Cash, Bitcoin, and Ethereum. Users also enjoy advanced security and privacy due to the wallet’s multi-signature transaction and two-factor authentication features.
The wallet uses a hierarchical deterministic design that allows you to use a master “seed” to back up your coin holdings. The device even enables you to create friend lists and send them BCH and other supported coins without entering complex public addresses.
Trezor One (Hardware Wallet)
Trezos One was among the pioneering hardware wallets in the crypto space that allowed the offline storage of a wide range of crypto assets.
The wallet team, Satoshi Labs, had a long history in the Bitcoin space with team-members mining BTC back in 2010. Therefore, Trezos One is closely tied and affiliated with the Bitcoin and BCH project.
The wallet is suited to BCH’s long-term storage due to its wide range of security features, including 2-factor authentication, encryption via GPG, and encrypted cloud storage.
Trezos One offers a user-friendly interface with a monochrome display containing 2 buttons. Since the wallet runs on open-source software, advanced users can modify their devices to their needs.
Satoshi labs designed its pioneering wallet to be accessible via a web browser interface called Trezor Wallet. Here, users must set up the device and then use it to send, receive BCH, and check balance values whenever needed.
Electron Cash (Desktop Wallet)
For crypto users looking to handle BCH on their desktop, Electron Cash is a popular open-source wallet in this category.
The wallet is a fork from the Bitcoin Electrum wallet and exclusively supports only BCH coins. It is available for both desktop and mobile version with support for Windows, OS X, and Linux systems.
This desktop wallet offers comprehensive offline storage where private keys never leave your computer and are only decrypted briefly when signing a transaction.
This way, users retain full control of their private keys and back up their wallets with a mnemonic seed phrase.
Electron Cash offers a lightweight way to handle your coins with less storage use and faster access. It uses an SPV (Simplified Payment Verification) transaction method to deliver greater security.
It also supports Multisig functionality and 2-factor authentication (2FA), making it one of the most secure and easy to use Bitcoin Cash wallets.
For crypto users looking to buy and store or transact in BCH, it is prudent that they find the best Bitcoin Cash wallet possible that guarantees holdings‘ integrity. Users can opt for a mobile, desktop, or hardware wallet depending on whether they want to be actively trading or to store BCH for longer durations simply.
For beginners, choosing a wallet with a simple web interface can eliminate the hassle of interacting with the crypto market via exchanges. Advanced crypto users can better appreciate a wallet with built-in exchange features, which would allow them to swap BCH with various other cryptocurrencies directly from the wallet app.