5 Best Bitcoin Cash Wallets.
Just like any other cryptocurrency, Bitcoin cash also needs to be stored securely. And for that, various Bitcoin cash wallets are available that stores your bitcoin cash after withdrawing it from the crypto exchange. But figuring out the best bitcoin cash wallet for storing your bitcoin might be a little confusing! That’s why in this article, we have broadly discussed the features, signing-in procedure, advantages, and safety of the 5 best bitcoin cash wallets. Stay tuned!
What is Bitcoin cash?
Bitcoin Cash (BCH) is a peer-to-peer decentralized digital currency is the outcome of the Bitcoin hard fork that occurred in August 2017. However, very few know the difference between Bitcoin and Bitcoin cash and that is, the size of the blocks on the blockchain. The currency’s future remains uncertain as it does not seem to solve any problem on the blockchain; however, this article is about a wallet you can use to store Bitcoin Cash, so let’s focus on that.
What is a Bitcoin cash wallet?Bitcoin
Cash wallet is a simple and secure way of safekeeping your assets. Before you begin trading on any exchange platforms like Binance or Poloniex, a bitcoin cash wallet should be installed to make trading safer in case your trading volume is in more than a 4 digit number.
Table of Contents.
1st Best Bitcoin cash wallet: Ledger Nano S.
What is Ledger Nano S?
Ledger Nano S is a hardware crypto wallet and a very secure best Bitcoin
cash wallet, designed for robust safety and measures to store cryptographic assets like Ethereum or Bitcoin Cash and secure online transactions.
After purchasing the wallet and getting it delivered, you connect it with any computer through the USB cable and follow this steps mentioned in the manual you got. In addition to this, you can directly trade from your hardware wallet using the Ledger Live mobile app.
Ledger Nano S comes in a proper built-in display through which you can keep an eye on each transaction through physical buttons.
How to get started with Ledger Nano S?
In order to, begin with, setting up Ledger Nano S, you need to follow some steps further. These are:
Start setting up Ledger Live: Along with the hardware wallet- Ledger Nano S, the software Ledger Live helps setting up your wallet device and manage your crypto assets. Select the Recovery PIN: Select the suitable PIN code and write a 24-words recovery phrase for private key backup. Installation : Thereafter, follow the steps mentioned in the manual you got with your hardware wallet.
Advantages of Ledger Nano S.
The most fruitful part about Ledger Nano S is you can buy, exchange and grow your crypto asset, all from one application – Ledger Live. You can manage your crypto by having total control over it and enhanced security. The biggest flex with hardware wallets is that it keeps your coin safe and protected offline. The wallet is designed and independently certified for resisting the extreme level of cyberattacks and protecting your crypto.
Materials: Ledger Nano S is created with the material of brushed stainless steel and plastic. It doesn’t require any battery charging. Compatibility : A wallet with a 64-bits desktop computer (with macOS 10.10+, Windows 8+, and Linux) is worth something. Ledger Nano S does not include ARM Processors. It is extremely compatible with smartphones with Android 7+ software. However, cryptocurrency it does require an OTG kit to connect with a wallet with your smartphone. Dimensions and Weight : Ledger Nano S is developed with a unit size of 56.95mm × 17.4mm × 9.1mm along with a weight of 16.2g. Connector & Microcontrollers : Ledger Nano S comes with the CC EAL5+ certification level, ST31H320 (secure)+ STM32F042 chips, and USB Type Micro-B Connector.
Pros & Cons.
Pros Cons Supports a huge range of cryptocurrency Better options are available than this Simple set up Not open-source Affordable and lightweight.
2nd Best Bitcoin cash wallet: Coinbase wallet.
What is a Coinbase wallet?
Coinbase wallet is widely known for its great efficiency and accessibility towards crypto assets. Ever since its launch in 2017, Coinbase wallet has made great market importance with its tremendous concept of receiving and sending crypto from anywhere, by anyone using their username.
Coinbase holds the trust of around 68 million verified users across the world. Alongside, 9,000 institutions and over 160,000 partners in more than 100 countries, for its high security and easy way of investing, earning, spending, and using crypto.
How to get started with Coinbase?
In order to begin trading, investing, and safekeeping your cryptocurrency, you need to follow these given steps:
Create an Account: Go to the official website of Coinbase wallet and create an account. Phone verification: Enter your phone number, select the country, and proceed with verification. Personal Information : It would ask you to fill out the information and submit a government-issued photo ID. Thereafter, sign into your coinbase account and add a payment method that is available in your country. Then, simply link your payment method to your account.
Advantages of Coinbase wallet.
The best part about Coinbase wallet is that the user gets complete control of their crypto by safekeeping them privately on your device. Apart from that, we have discussed the advantages of Coinbase wallet right below:
Coinbase supports more than 500 tokens like BTC
, LINK, USDT, LTC, ETH, and many others. Supports exchanges on decentralized exchanges, DeFi protocols, etx. Allows you to store items like Punks, Crypto kitties, etc., you can buy, sell and store the NFTs all together in one place. You can access your crypto wallet easily from Google Chrome on your desktop because of its Chrome extension.
Best security practice: Coinbase wallet uses the best tactics to make sure that your cryptocurrency is secured well. It uses two-step authentication and military-grade AES-256 encryption that helps in protecting them. Multi-coin wallet: This bitcoin cash wallet, Coinbase allows you to store any kind of cryptocurrency that you want. Decentralized applications: With Coinbase wallet, you get access to a wide range of decentralized exchanges, applications, jobs, and many others; so that your crypto assets is held without any risks. Insurance coverage: Coinbase gives you an insurance coverage policy for your digital assets so that they could be reimbursed when needed.
Pros & Cons.
Pros Cons Allow storing more than 50 distinct cryptocurrencies Not completely offline Insured crypto in crises.
3rd Best Bitcoin cash wallet: Binance Trezor.
What is Trezor?
Trezor is a hardware wallet that has an absolutely easy-to-use interface. It’s best to select a reliable wallet and have the minimum security risks such as one of the best hardware wallets- Trezor.
With Trezor, you can easily manage and control your funds, balance, and initiate trading. For purchasing, you can select the definite Trezor model at any E-commerce site or Trezor’s Official page. Make sure you cover all the aspects of the model so that it wouldn’t be difficult to operate later on.
How to get started with the Trezor hardware wallet?
As you purchase the Trezor hardware wallet, the installation step is pretty simple and hardly takes 10-15 minutes.
Connect with desktop: Connect the Trezor wallet to your desktop through a USB cable. Then, go to the Lock Icon and follow the instructions. Open trezor.io/ start: Follow the instructions on how to generate Trezor PIN code and learn how the recovery seed works. Then, continue to set up your device. Install Trezor wallet: Install the Trezor wallet from the wallet.TREZOR.io. You can choose either Trezor Chrome Extension and Trezor Bridge for connecting your Trezor wallet.