Just like cash and other cryptocurrencies, you will need a storage unit for your Bitcoin Cash. However, keep in mind that crypto coins are not physically stored anywhere, but rather uses a private key for every Bitcoin Cash address saved in a user’s wallet. The Bitcoin Cash wallet facilitates sending and receiving BCH and entitles the user total ownership of the balance.
A Bitcoin Cash wallet also referred to as a digital wallet, is another necessary component if you wish to indulge in crypto betting or any other form of payment involving BCH. This is an essential tool for anyone who wants to send or receive Bitcoin Cash. There’s no need to worry as it offers simple and easy steps for first-time users wanting to learn what is Bitcoin Cash and how to transact using the cryptocurrency.
After learning how to buy and sell Bitcoin Cash, the standard procedure that follows involves user getting a hold of their own Bitcoin Cash wallet. This means choosing from the types of BCH wallets according to the needs of a user. There are multiple options when it comes to Bitcoin Cash storage units a well, including desktop wallets, mobile wallets, web wallets, and hardware wallets.
Breaking down Bitcoin Cash wallets
Desktop wallets are installed on a desktop computer or a laptop and provides all-encompassing control for its users. Desktop wallets allow users to create a BCH address for sending and receiving Bitcoin Cash and acts as the user’s storage for his/her private key.
Next in line are mobile wallets, which offers tremendous portability. Download the application on your smartphone or tablet device to create and access your account. The functions of mobile wallets resemble that of desktop wallets; hence, offering a familiar interface and transaction processes.
Web wallets also allow you to transact BCH from anywhere, on any browser or mobile phone. However, you must carefully choose a reliable web wallet since it stores your private keys online.
Lastly, for those looking to arm their Bitcoin Cash with the best security features, a Bitcoin Cash hardware wallet is nothing short of the best. In addition, this flash drive-like device allows users to carry BCH offline anytime and anywhere.