On the 1st of August Bitcoin Cash hard fork took place. While the world is still arguing about the new cryptocurrency and it’s impact, let’s take a look at the top Bitcoin Cash wallets to store Bitcoin Cash safely.
17 August, AtoZForex - Bitcoin Cash (BCH) is a new form of electronic cash for the Internet which entered into circulation on August 1, 2017. It is a fork of Bitcoin, which means it operates almost in the same way. However, it is still very different in its value – today, the price of Bitcoin Cash is $297.78, while Bitcoin costs $4,353.46.
Only a few wallets are currently supporting Bitcoin Cash. Whilst there are even fewer wallet firms which allow a safe storage of the new cryptocurrency.
Top Bitcoin Cash wallets to store Bitcoin Cash safely
According to my opinion, I have ensemble the following top three Bitcoin Cash wallets to store Bitcoin Cash safely. These wallets were evaluated on appropriate storage, security,user-friendly progress of depositing and withdrawing BCH.
#1. BitGo wallet
It is one of the most prominent companies in Bitcoin industry and cryptocurrency overall. BitGo was the first one to introduce Bitcoin Cash wallet and remains by far the most popular service. Ever since such well-known companies like Coinbase refused to support Bitcoin Cash, BitGo benefited from enormous demand by integrating a user-friendly BCH interface. Also, its multisignature solution makes BitGo different from other wallets. The technology requires another user to sign a transaction before transferring it to the blockchain. This aspect gives a significant plus to security.
#2. BTC.com
The company launched Bitcoin Cash wallet platform on August 4, 2017. It developed a simple-to-use interface, and the platform itself is highly secure. For the users who created their Bitcoin wallets before the hard fork on the 1st of August, BTC.com has added Bitcoin Cash wallets automatically. The BCG wallet can be accessed within your same Bitcoin wallet.
#3. Trezor
It is best known for its highly secure hardware. Trezor also provides its users with the most advanced standards in cryptography and Bitcoin. It has an easy interface which has a quick set-up. However, there’s one more thing which placed Trezor in the center of attention. Developing Bitcoin Cash wallet, Trezor was the first one describing technical difficulties of the integration process in more details. Particularly, the firm stressed technical issues which came up during this procedure. This was mostly because the support for BCH was developed in less than a week time.
Difficulties with Bitcoin Cash
By now, other wallet platforms hesitate to support Bitcoin Cash due to technical issues. As Trezor mentioned on its official blog, the process of introduction was substantially harder than expected. The core problems were related to the lack of time to test the new digital currency.
This resulted in a series of technical errors, which led to a disappearance of users’ transactions, negative balances and followed by code rewriting. Fortunately, Trezor’s technical team managed to eliminate them soon enough, to avoid the rest of customers getting affected.
In contrast to Bitcoin, whose price came to the all-times highest point after the introduction of Bitcoin Cash, BCH failed to demonstrate a consistent growth. Together with technical issues, that clarifies why many service providers still hesitant to adopt Bitcoin Cash.
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