Good Bitcoin Cash Wallet
What is SPV?
SPV stands for Simplified Payment Verification. It was first described by Satoshi Nakamoto in the original Bitcoin whitepaper. This method allows a wallet to provide strong security without the need for downloading the blockchain or running a full node. SPV lets you validate your own transactions by ensuring they are confirmed in the blockchain. It uses the best header chain with the most cumulative proof of work and the correct hashing difficulty level. Electron Cash relies on a distributed network of servers which handle the heaviest part of blockchain operations. Your private keys sign transactions locally. They are never sent to the servers.
Best Bitcoin Cash Wallet Android
Mar 01, 2021 If you want the most secure Bitcoin wallet then you will need to use a hardware wallet like the Ledger Nano X or TREZOR T. You should always do research before downloading or installing any Bitcoin wallet. On the other hand, if you are looking for the best Bitcoin wallet specifically for Android systems, then Coinomi Wallet is your best choice.
01.The Best Bitcoin Cash Wallets
Let’s talk about what I consider to be the best Bitcoin Cash wallets currently in this section. Below I have made a table with them and listing all of their features and characteristics to help you make your decision. As you can see there are not many wallets that I think should be considered the best, just six. Make sure to check out their reviews that are also linked as you can find detailed information there.
| Type | Name | Compatibility | Supported Coins | Features | Get Wallet |
|---|---|---|---|---|---|
| Desktop Wallets | Full Bitcoin ABC Review |
| BCH Only | – HD Wallet – Custom Fees – Block Production | Download |
| Full Exodus Review |
| 25 Coins 79 Tokens | – Built-in Exchange – HD Wallet – SegWit Support | Download | |
| Hardware Wallets | Full Ledger Nano S Review |
| 80+ Coins 1100+ Tokens | – HD Wallet – SegWit Support – Open source | See Pricing |
| Full Trezor One Review |
| 50+ Coins 1000+ Tokens | – HD Wallet – Offline Storage – Third Party wallets and Service Integration | See Pricing | |
| Mobile Wallets | Full Edge Review |
| 20+ Coins 1000+ Tokens | – Built-in Exchange – SegWit support – Node Selection | Download |
| Full Jaxx Liberty Review |
| 18 Coins 42 Tokens | – Built-In Exchange – HD Wallet | Download | |
| Web Wallets | Full Blockchain Review |
| 4 Coins 1 Token | – Built-in Exchange – HD Wallet – Fiat Gateway | Visit Website |
| Full Guarda Review |
| 40+ Coins 1000+ Tokens | – Built-in Exchange – Fiat Gateway – Built-in Asset Swap | Visit Website |
Complete List of Bitcoin Cash Wallets
In case that you did not like any of the wallets listed in the previous section as the best, fret not. Below I would like to give you a complete list of all wallets available worldwide that can support the BCH coin. These alternative to the best wallets, have a lot of features that are either unique to them or share between many of them. Again, if it is necessary, you can check out their full reviews and obtain more information that will help you with your choice.
| Name | Type | Compatibility | Supported coins | Security | Key Features |
|---|---|---|---|---|---|
| Bitcoin ABC | Desktop |
| BCH Only | Passphrase | – HD Wallet – Custom Fees – Block Production |
| Abra | Mobile |
| 20+ Coins 6 Tokens | Pin | – Built-in Exchange – Fiat Gateway |
| Atomic | Desktop, Mobile |
| 30+ Coins 1000+ Tokens | Passphrase | – HD Wallet – Atomic Swap – Fiat Gateway |
| BTC.com | Mobile, Web |
| 2 Coins | Passphrase, Pin | – Fiat Gateway – SegWit Support – Custom fees |
| BitGo | Web |
| 10 Coins 180+ Tokens | Passphrase, 2FA | – HD Wallet – SegWit Support – Multisig |
| Bitlox | Hardware |
| 3 Coins | Pin | – HD Wallet – Cold Storage |
| Bitpay | Dekstop, Mobile |
| 2 Coins | Pin, Fingerprint | – HD Wallet – Built-in Marketplace – Custom Debit Card |
| Blockchain | Web, Mobile |
| 4 Coins 1 Token | Passphrase, Pin, Fingerprint | – Built-in Exchange – Fiat Gateway |
| Bread Wallet | Mobile |
| 3 Coins 120+ Tokens | Pin, Fingerprint, 2FA | – Fiat Gateway – Built-in Exchange – QR Scanner |
| Circle Invest | Mobile, Web |
| 11 Coins 3 Tokens | Pin, Fingerprint, 2FA | – Fiat Gateway – Instant Bank Deposits |
Maybe the best thing to realize that will help you pick your wallet is to think about how you will be using it. If you are a person that is very active and needs access to their funds anywhere, they go a mobile wallet will be the best choice or a hardware wallet.
02. Common Features of Bitcoin Cash Wallets
I talked about how different wallets for Bitcoin Cash offer different features and characteristics that may suit different people depending on their needs. This includes even privacy and security features, which are the most important for a wallet if you ask me. Many of them are considered common as a lot of wallets share them between each other and with the upcoming sections I would like to cover them.
Security and Privacy
Most wallets that support Bitcoin Cash are generally well secured with some of the features explained below. Also, the majority of the wallets that can hold BCH are light nodes, which means that in order for them to be operational they will not require a full blockchain history download. Also, it is worth mentioning that most of them are also open source, meaning you have complete access to the code in order to audit it. Here are the other common features:
Two-Factor Authentication
Two-factor authentication almost half of the BCH wallets offer this extra security layer, executed as an extra code, sent to you via email or SMS. It acts as a confirmation for signing into your wallet. If that’s your thing, then look for Ledger Nano, CoolWallet S, Edge and more.
Hierarchical Deterministic (HD)
These HD wallets have a twelve-word masker key seed from which you can create unlimited key pairs for every transaction you make. Also, when you need to restore the wallet, all you will need is the master key and everything will be restored. Such high anonymity tools are Exodus, Jaxx, Atomic, and more.
Multisignature
Wallets that have this feature require each transaction to be signed by multiple people, keeping your anonymity in the network safe. Good Bitcoin Cash wallet examples are BitGo and Electrum Cash.
Secure Bitcoin Cash Wallets To Consider
Good Bitcoin Cash Wallet Balance
Transaction Fee Management
Lets tank about transaction fees and their management. As you already know, the fees are there in order to provide incentive for the parties supporting, keeping the network alive and decentralized. Different wallets provide different ways to control the transactional fees from no control at all to complete management of the fees. The size of the transaction fee also dictates your priority in the network.
| Fee Control | How Does It Work? | Supported By |
|---|---|---|
| Full Control | These types of wallets allow you to manually adjust your transaction fees. The transaction fee can be as low as 0.00000350 BCH | Bitcoin ABC, Ledger Nano S, Jaxx Liberty |
| Partial Control | These wallets allow you to adjust your transaction fees based on their “recommended” fees | Atomic, BitPay |
| No Control | These wallets usually determine the transaction fees based on how busy the network is or straight up offer only a fixed fee. | Coinbase, Quppy |
03.FAQ
Can I send Bitcoin Cash to my Bitcoin (BTC) Wallet?
Unfortunately, you cannot. Even though they are with similar names, they are on completely different blockchains. The only way this is achievable is by a multi-coin supporting wallet.
If I set too low a fee, will my transaction go through?
Of course, that it will go through, but you will have to wait for a longer time period. As I mentioned earlier, the higher the fee, the higher your priority in the network is.
What does it mean if my transaction did not arrive?
It is a good idea to check the block explorer and see the status of your transaction. Usually most transactions require a set period to pass before they are completely confirmed like for example 6 blocks.
Good Bitcoin Cash Wallet
04.About Bitcoin Cash
Best Bitcoin Cash Wallet Reddit
The origins of the Bitcoin Cash network begin with its hard forking off of Bitcoin. Since then it has kept its spot in the top altcoins in the world and continues to this day to be constantly talked about in the community. The new BCH network offered an increased block size. This is due to the developers of the network not being very fond of slow and expensive transactions that are common in the Bitcoin network. They wanted to do something about this issue and different miners had different opinions. That being said, the bitcoin cash network is not as secure as the Bitcoin network since BCH has roughly 5 % of the hashing power of Bitcoin. The effect of this resulted in a blockchain split in August 2017 when BCH hard forked from the BTC network. The name of the new network was given by a Chinese mining pool called Via BTC.