Bitcoin Cash is a cryptocurrency forked out of the Blockchain of Bitcoin. This cryptocurrency works less like a store of value and more like a currency of exchange. Launched in 2017, Bitcoin Cash has gained popularity among cryptocurrency enthusiasts due to its volatility and favorable Bitcoin Cash forecast. Bitcoin Cash operates with greater block size, and as such, its transactions are faster and cheaper than Bitcoin Cash. If you are a new user of Bitcoin Cash and seek to know more about the cryptocurrency, then read on to find out more about it right here.
Claiming Bitcoin Cash is slightly technically difficult and depends on the hardware and software that one uses to hold the Bitcoin. Some of the most popular methods of claiming Bitcoin Cash are mentioned below:
- Some Bitcoin wallets come with the feature of forking the coins. Use the feature to fork the Bitcoin Blockchain and obtain Bitcoin Cash.
- The cryptocurrency user may employ the Bitcoin_Fork_Claimer application of Ymgve at the temporary session of Ubuntu Live DVD, TAILS Live DVD, and Windows to secure Bitcoin Cash.
- Use the Node Software or the Wallet of The Bitcoin Cash Project to claim Bitcoin Cash.
– Paper Wallet
The paper wallet of Bitcoin Cash consists of the private and public keys printed together in the form of a QR code. It is the safest way of storing cryptocurrency assets as the paper wallet never gets exposed to hackers on the Internet. To create a paper wallet, save the wallet.dat file that contains the private key, get a printout of this file, and then delete the file from the computer for maximum security.
– Software Wallet
The software Bitcoin Cash wallet needs to be installed in a device for the offline storage of the private key. Most of the software wallets support several cryptocurrencies. The most popular software Bitcoin cash wallets are Exodus, ShapeShift, and Jaxx, allowing instant exchange among cryptocurrencies.
– Hardware Wallet
Experts say that the hardware wallet provides the safest way of storing Bitcoin Cash. The hardware wallet resembles a portable hard disk that is used for storing cryptocurrency assets. It is safe to store the Bitcoin Cash in hardware wallets as the wallets are hacker-proof and can generate transactions offline through connection with any computer on the go.
The daily charts and graphs reveal that the price of Bitcoin Cash has decreased over the past few days. However, there is a chance that the Bitcoin Cash price may surge a little this week by making it to $1215 from $778. According to Bitcoin Cash price forecast by Cryptonewsz, the price of BCH will become $1543.66 at the end of 2021, $1893.03 by 2022, $2136.92 by 2023, $2658.76 by 2024, and $3070.15 by the year 2025.
Some of the best Bitcoin Cash wallets of 2021 are enlisted below:
- Ledger Nano X Wallet: This hardware wallet is equipped with Bluetooth and has a bigger memory space than its Nano S version. It supports the cryptocurrencies Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and more.
- Atomic Wallet: This desktop client type of wallet allows the exchange of more than 130 cryptocurrencies like Bitcoin Cash, Bitcoin, Dogecoin, Ripple, and more. It is available for free download from its official website.
- Jaxx Liberty Wallet: The Jaxx wallet is compatible with desktop clients, web, and mobile. It is new to the market and can be used for the storage of several cryptocurrency assets.
Now that you are aware of the nuanced aspects of Bitcoin Cash, it is time to register with a wallet and an exchange to start trading and investing in Bitcoin Cash. There seems to be a bullish trend in the market, and as such, it would be a profitable venture to invest in Bitcoin Cash. Choose the wallet carefully and store the private key offline to keep it secure. Make investments within your affordable limit to prevent losses and stay safe.