Top 10 Wallets For Storing Your Bitcoin Cash
Bitcoin Cash was born out of the August 2017 hard fork of Bitcoin with the main aim of providing higher transaction speed and lower transaction fees. Since then it has come a long way to earn its position in the list of top five cryptocurrencies when ranked in accordance with market cap. However, a crypto wallet offering you safety and security becomes mandatory for storage of Bitcoin Cash holdings. With the large array of wallet options existent in the market, making the final choice might seem to be a bit intimidating. Today, we have collated a list of top 10 Bitcoin Cash wallets which can suit your needs with the premium attributes mentioned below:
- The wallet needs to be compatible with Bitcoin Cash so that you can unleash its fullest potential.
- Easy user interface can make it simple and convenient for you to manage the crypto holdings.
- A dedicated development team can keep up with the wallet upgradation by adding new features every now and then.
- Stellar customer support becomes mandatory for solving the problems faced by you in handling your wallet. If the support team of the wallet if operational, then you can get your queries solved faster.
- Private keys refer to the right of managing crypto holdings. Thus, you should look out for a wallet which allows you to exercise supreme control over your private keys without asking you to share the same with a third party.
- Security features like advanced encryption, two-factor authentication, passphrases and secure PINs can provide you with an extra layer of contentment. A proper backup feature can also serve your purpose of fund restoration if your ever damage or lose your wallet.
- Reputation serves as a focal point of purchasing a crypto wallet as its reviews can hint at its future course of functionality and whether it can actually serve as a credible means of crypto storage.
Ledger Nano S (Hardware Wallet)
It is hard to overlook a hardware wallet if security serves as your top priority while storing any cryptocurrency and the Ledger Nano S is one of the safest hardware options available in the market. You can connect this portable wallet with the USB port of your computer. The private keys are locked away to safety using a PIN code and two-factor authentication for enhanced security. Its OLED display also stands out as a stellar feature which helps in double-checking all transactions in a quick and easy manner by simply pushing the device buttons physically. It is also extremely easy to set up this wallet which is compatible with 20 different types of cryptos including Ripple, Dash, Ethereum, Bitcoin, Litecoin, Bitcoin Cash and many more.
Trezor (Hardware Wallet)
This popular hardware wallet comes with an impressive reputation when it comes to security matters. It can be connected with the computer using the USB slot and a secure PIN code has to be entered for accessing the same. On every wrong entry of PIN, the waiting time for the subsequent entry increases by the power of two. The Trezor wallet also supports two-factor authentication and creation of a secure recovery phase so that you don’t end up losing the cryptos if anything goes wrong. The built-in display of Trezor aids in checking the transaction details just like Nano S prior to confirming. It is extremely easy to set up this device which extends support to Litecoin, Bitcoin, Dash, Bitcoin Cash and numerous other cryptos. The Trezor hardware wallet is compatible with all Android devices having a USB slot and Windows, Linux and OS X operating systems.
KeepKey (Hardware Wallet)
This hardware wallet takes over the management of private key storage, private key generation and transaction signing from your computer’s wallet software. It makes use of a hardware-based random number generator which joins hands with an impromptu number provided by the computer for coming up with a private key. Users can write down the backup code in the form of a twelve-word recovery sentence once the private key is generated.
Coinomi (Mobile Wallet)
If you are on the lookout for a convenient yet simple way of managing your cryptocurrency holdings using the smartphone, then the Coinomi wallet will surely serve you well. Boasting of a user-friendly interface and support provided to 100 different cryptocurrencies, this popular Android app also rides high on security. Users are not required to undergo any KYC procedures while they install the application and store the private keys with utmost safety. This HD wallet has to be backed up just once using a super-passphrase. The lack of iOS functionality serves as a major loophole in this otherwise functional wallet. However, both desktop and iOS versions have been reported to be out soon.
Jaxx (Mobile & Desktop Wallet)
This wallet was developed with the sole purpose of making crypto dealing more accessible to the masses and easier to manage. Given its abundant storage options when compared to the other market players, this wallet is definitely worth your attention. The easy user interface of Jaxx stands out as its best feature which assists users in navigating the system in an effortless manner. Information pertaining to Bitcoin Cash and other cryptos are stored in a straightforward manner and the ShapeShift integration makes crypto exchange seem like a cakewalk. The immense compatibility of the Jaxx wallet which supports Bitcoin, Bitcoin Cash, dash, Ethereum, Litecoin and much more can be of great help if you wish to diversify your portfolio.
The wallet can be accessed in OS X, Windows, iOS and Android devices through a Chrome browser extension. The Jaxx wallets use a 12-word Masterseed for aiding its users in managing their private keys although support towards two-factor authentication is absent. This multi-currency HD wallet announced prior to the fork that users of Jaxx would not need to undergo any specific process for accessing their BCH holdings. A simple software upgrade will help users in accessing their BCH coins once the integration process is complete. They even released a statement pointing that,“Since Jaxx users are always in control of their private keys, corresponding Bitcoin Cash (BCH) will be safe in your Jaxx wallet. However, please know that you will not be able to access/send/receive your Bitcoin Cash (BCH) until the integration takes place.”
Electron Cash (Desktop & Mobile Wallet)
This Simplified Payment Verification wallet was developed out of the fork of Ethereum wallet. It is available for OS X, Windows and Linux operating systems as well as an Android application which can be downloaded from Google Play store. The easy to set up Electron Cash allows its users to back up the HD wallet using a mnemonic seed phrase and retain complete control over their private keys. It also supports missing functionality as an additional security layer. You don’t need to download the entire node of Bitcoin Cash for exercising this light wallet. However, its lack of support towards iOS users and other cryptos apart from Bitcoin Cash does stand out as a big lacuna.
BTC.com (Web & Mobile Wallet)
This popular mobile and web wallet is backed by Beijing-based company Bitmain Technologies which is an established player in bitcoin mining field. This wallet was designed to send, receive and store both Bitcoin and Bitcoin Cash in a safe and easy manner. The user-friendly wallet is available through Android and iOS apps as well as online. Users can also retain control over their private keys at all times using this hierarchical deterministic (HD) wallet which allows them to avail the master “seed” for keeping a backup of their holdings. Two-factor authentication and multi-signature transactions are also supported by the BTC.com wallet which has already evolved into a customer favourite coupled with its easy to understand interface and stellar customer support.
Bitcoin Classic UAHF Client (Desktop Wallet)
The BCH-compatible Bitcoin Classic 1.3.2 refers to the desktop version of the Bitcoin Classic which allows users to follow the Bitcoin Cash chain once the same is fully installed. It is also available for Mac, Windows and Linux operating systems.
BU Bitcoin Cash Client (Desktop Wallet)
The Bitcoin Cash 18.104.22.168 edition of Bitcoin Unlimited which provides complete support to BCH has been released unofficially by its developers until a vote decides on whether Bitcoin Cash should be supported by the community. This wallet is compatible with Linux, Mac and Windows operating systems.
CashAddress (Paper Wallet)
The paper wallet script of Bitcoin Cash has now been made available especially for users who are more comfortable using the paper mode.
You need to exercise utmost caution by following the official announcements made by your associated wallets while playing with your private keys. Given their early stage of development, it is advisable not to engage in hefty transactions using the same since bugs and hurdles are meant to be there in the BCH software. Do your research well by looking at the reputation, security features, user-friendliness and customer support of a particular wallet before proceeding with the purchase decision. The crypto wallets are loaded with security features. You just need to develop a clear understanding about the same to make the most of your wallet functionality.
KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology,Cryptocurrencies and upcoming ICO’s.
Rohit Kukreja is a Commerce graduate with Financial Markets expertise involving Stocks, Forex, Futures & Options Market and now Bitcoins & Cryptocurrency Markets. Blockchain Enthusiast but not a techie, Rohit is an active member of various Blockchain & Crypto communities all over India.
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