Bitcoin Cash

Your guide to finding the ideal BCH wallet for you!

Wallets and private keys

Wallets are programs that manage your private keys which are used to acces your cryptocurrency. Most of the time such a private key is represented to the user as a "seed phrase" of 12 or 24 words. These words in that specific order give you acces to your coins which means you can acces the same wallet balance from multiple devices by importing that seedphrase. It's called a "private key" because you should never share it with anyone else! It's crucial to make a backup of your wallet when using any significant amounts, because otherwise you might lose acces to your cryptocurrency in the event of a lost phone or a crashed hard drive. Naomi Brockwell gives a great introduction to wallets in the video below: Cryptocurrencies stand out because they give the user full control over their own money so they are self sovereign. Of course it is still possible to delegate custody to someone else, this is more akin to a crypto bank where a trusted third party manages your money. Confusingly they are sometimes called "custodial wallets" and in contrast to "non-custodial" or "self-custodial" wallets discussed before where the user is self sovereign. Many coins have been lost because of they were left on an untrustworthy exchange hence the saying not your keys not your coins. This website will only discuss noncustodial wallets.

Types of wallets

‘Hot wallet’ means the device is connected to the internet, this includes mobile, desktop, web wallets etc. Hot wallets are convenient for day to day use in contrast to cold storage which is more security focused. Many cryptocurrency users make use of both!

'Cold wallet’ means a wallet for long term offline storage, also called ‘cold storage’. This category includes paper wallets and hardware wallets. Offline storage is considered more secure because it's not susceptible to malware like keyloggers, screen captures, etc.

About Bitcoin Cash

Bitcoin Cash is one of the most popular cryptocurrencies. It is the branch of bitcoin that resulted from 'the great scaling debate' which got resolved august 1st 2017 by a split of the bitcoin community into two separate networks. People in Bitcoin Cash believe in onchain scaling by increasing the blocksize limit from roughly 1MB on BTC to 32MB and by improving capcity through new technologies like CTOR, schnorr signatures and blockcompression technologies like graphene. In contrast to BTC, Bitcoin Cash does regular hardforks to upgrade the protocol which has been used to enrich its smart contract capabilities and improve its difficulty adjustment algorithm (DAA).

Bitcoin Cash has a rich histroy which includes a hashwar again CSW, AKA faketoshi, on November 15th 2018 and a split to prevent a node implementation from funding themselves through the coinbase reward on November 15th 2020.

Bitcoin Cash aims to become p2p electronic cash for the whole world and has a vibrant ecosystem and passionate community that wants to make this goal a reality. Throug a strange quirk of history many BCH supporters hang out on the subreddit r/btc .

A big selling point of BCH is that it works fast cheap and reliably today. There has been an explosion of development happening to improve on the solid bitcoin foundation. BCH has multiple development teams working on the protocol. You can get an idea what new features and protocol upgrades are being worked on