14 Best Bitcoin Cash Wallet for 2023 – Paybis Analysis
Bitcoin Cash (BCH) is a cryptocurrency that resulted from a fork of Bitcoin in 2017. BCH coins reside on a different Blockchain than that of the original Bitcoin and thus require different wallets for storage.
In this article, we will go through the best Bitcoin Cash wallets that are currently available on the market. We will explore the technology behind them and indicate their best features.
After going through our list of Bitcoin Cash wallets, you should have the necessary information to make an educated decision when choosing your preferred wallet.
Before we list our favorite options, let’s quickly go through the basics of a Bitcoin Cash wallet.
- What is a Bitcoin Cash wallet?
- How do Best Bitcoin Cash wallet work?
- 1. BestBitcoin Cash Mobile wallet – Coinomi
- 2. Best Bitcoin Cash Web Wallet – BTC.Com
- 3. Best Desktop Bitcoin Cash Wallet – Electron Cash
- 4. Best Bitcoin Cash Hardware wallet – Ledger Nano S
- 5. Best Paper Bitcoin Cash Wallet – Cashaddress
- Other Great Bitcoin Cash Wallets
- Wrapping up
- – Frequently Asked Questions –
What is a Bitcoin Cash wallet?
A Bitcoin Cash wallet is a specialized software that will help you freely access, use and spend your coins at any time.
Digital currencies like BCH exist only in electronic form and cannot be stored like regular money. This means that acquiring such a wallet will be your first step towards using and owning Bitcoin Cash.
Here’s how a Bitcoin Cash wallet essentially works.
How do Best Bitcoin Cash wallet work?
Bitcoin Cash coins are representations of value on their Blockchain. Your cryptocurrency wallet acts as a point of access to your coins, using two unique codes to do so:
- A private key – this character string is used to access your coins and allows users to sign transactions on the Blockchain so you can spend them. Without it, you won’t be able to transfer any of your BCH coins, so make sure you always keep it in a safe place.
- A public address – derived from the private key, this is the address where people can send you Bitcoin Cash. It can be shared with anyone that needs to send you BCH or when you buy coins from an exchange.
Aside from that, keeping your coins safe is your own responsibility. You are the only one that can access your coins at any time. Cryptocurrency wallets help you do this by encrypting your unique keys and storing them so you can use them at your discretion.
What to consider when choosing your Bitcoin Cash wallet
Bitcoin Cash wallets come in four major types, and it can be said that each of them serves a different purpose. Some are convenient for daily use, others for long term storage.
- Mobile wallets – these mobile apps turn your smartphone into your portable crypto wallet. They are very convenient for daily use, but the caveat is that you need to take special care of your phone and act quickly if it gets stolen or lost.
- Online wallets – these wallets are great for everyday use as they allow you to access your coins on the go, through your browser or mobile phone. They are the most commonly used wallets, even though they present the highest risk of getting hacked.
- Desktop wallets – a desktop wallet requires the installation of specialized software on your PC, making it a lot safer than both online and mobile wallets. This wallet type will turn your computer into a vault, and it’s ideal when making transactions from home.
- Hardware wallets – these specialized USB-like devices are the top of the line when it comes to securing your cryptocurrencies. They keep your sensitive data offline, away from hackers, and are small and convenient for transport.
- Paper wallets – like its name suggests this is a piece of paper where your keys are printed on. Great for long term storage, but not meant for daily usage. This is because you can only transfer the entire content of your wallet when choosing to make a transaction.
Having said that, let’s dig into our compiled list of the best Bitcoin Cash wallets.
1. BestBitcoin Cash Mobile wallet – Coinomi
Number of supported coins: 120+
Access: Mobile, Desktop
Mobile OS: Android and iOS
Coinomi is a popular non-custodial mobile wallet that offers good security while supporting more than 120 cryptocurrencies, including Bitcoin Cash.
Through its slick and user-friendly interface, the app helps users receive, store and send crypto without any complexities.
Let’s check out some of the features that make Coinomy the best BCH mobile wallet.
What are Coinomi’s advantages?
- Good Security – Coinomi is an HD wallet (Hierarchical Deterministic) that generates its keys from a single master seed phrase. This makes it virtually impossible to hack.
- Enhanced privacy – the wallet never shows the user’s IP address to prevent prying eyes from gathering data on spending habits and/or transactions.
- Simple to use – the modern interface of the app is a breeze to go through, and the information is always presented in an understandable manner.
- Exchange integrations – the wallet supports both Changelly and ShapeShift, allowing users to exchange a good number of supported coins within the app.
How to sign up for the Coinomi mobile app
Here’s a great video that shows the basics of setting up your Coinomi wallet:
2. Best Bitcoin Cash Web Wallet – BTC.Com
Number of supported coins: 3
Access: Web, mobile
Mobile OS: Android/iOS
BTC.com is an open-source web and mobile wallet that supports Bitcoin Cash, Bitcoin and Ethereum.
Established by Bitmain in 2016, it was created to provide the participants of their mining pool an accessible and secure place to store their newly mined cryptocurrencies.
Even though the number of currencies is very limited, its simple interface and web support allow users to access it on any internet-enabled device, wherever their location may be.
Let’s check out its main features:
Why should you consider a BTC.com wallet?
- Simplified Interface – although feature-rich, this online wallet is one of the easiest to use. You can even create friend lists and send them BCH without having to scan QR codes or enter complicated public addresses.
- Easy to join the Bitcoin Cash mining pool – as it’s released and developed by Bitmain, the BTC.Com wallet has been considered a great first step for aspiring Bitcoin Cash miners joining the pool.
How to open a BTC.Com wallet?
This short tutorial will fill you in on the basics of creating your first BTC.com wallet:
3. Best Desktop Bitcoin Cash Wallet – Electron Cash
Number of supported coins: 1
Mobile OS: N/A
Electron Cash is a fork from the Bitcoin Electrum wallet and supports only Bitcoin Cash coins. It uses an SPV (Simplified Payment Verification) transaction method which provides strong security without having to download the full Blockchain on your computer.
Here are some features that make it stand out from the crowd:
What are the advantages of using Electron Cash?
- Secure – Your unique secret phrase and private keys never leave your computer. The private keys are decrypted only briefly when signing a transaction.
- Lightweight – With Electron Cash, there is no need to download the whole BCH Blockchain and update it every time a transaction is made. This allows for less storage use and faster access.
- Good amount of features– Like all wallets deriving from the Electrum wallet, this one too supports the Replace by Fee (RBF) feature. This allows users to rebroadcast a bigger transaction fee if your confirmations aren’t going through in a timely manner. Incoming transactions can be labeled as well, giving a better overview of the sender.
How to set up your Electron Cash wallet
In this short video, you can find out how to set up your Electron Cash wallet
If you’re interested, you can also check this playlist that goes through all the basics of using this wallet.
4. Best Bitcoin Cash Hardware wallet – Ledger Nano S
Number of supported coins: 1250+
Access: Ledger Nano S device
When your main priority is the security of your funds, hardware wallets are your best option. Not only do they store Bitcoin Cash, but all other popular cryptocurrencies as well.
It’s hard to beat the Nano S, as it offers high-end security and portability. For additional convenience, it has a small OLED screen that gives an overview of your transactions.
Let’s single out some of the most important features that make it such a popular choice among cryptocurrency adopters.
Why you should consider purchasing a Ledger Nano S?
- Strongest security – with its dedicated OS and state of the art cryptographic hardware, the Ledger devices remain virtually unhackable to this day.
- Large number of cryptocurrencies – with more than 1200 supported cryptocurrencies the Ledger Nano S should cover the needs of most enthusiasts.
- Excellent portability and accessibility – its convenient size makes it a great daily companion for carrying around. In addition, the small OLED screen that shows transaction details extends its accessibility even more.
- Convenient Official App – the Ledger Live app is a great way to handle your crypto on a daily basis while conserving the high security of a hardware wallet.
Setting up your Ledger Nano-S for the first time
The following tutorial video goes through the process of setting up your Ledger wallet:
5. Best Paper Bitcoin Cash Wallet – Cashaddress
Number of supported coins: 1
Mobile OS: N/A
Paper wallets aren’t meant for daily usage – they are mainly used by long-term holders. They represent your keys on a printed piece of paper and they may also show their respective QR codes for convenience.
They offer great security and are ideal if you want to store your Bitcoin Cash coins in absolute safety.
The Cashaddress wallet generator is very simple to use and you should have your Bitcoin Cash paper wallet set up in no time.
Let’s see why you might consider using one:
What are the advantages of a Bitcoin Cash paper wallet?
- Great for HODLing – considered as the ultimate cold storage, it’s a great way to save up your Bitcoin Cash in one place without being too tempted to use them.
- Offline at all times – as your keys are printed on paper, they are immune to malicious online attacks.
- Hardware-independent – as they aren’t dependent on any digital device, they avoid all of their flaws: dead batteries, cease of support, etc. As long as you take the necessary precautions of protecting your paper wallet from water or fire, your coins will always remain accessible to you.
How to set up your Bitcoin Cash wallet:
The following video will show you the process of creating a paper wallet for Bitcoin Cash on Cashaddress.
Other Great Bitcoin Cash Wallets
7. Jaxx – this multi-platform wallet supports a good number of cryptocurrencies (20+) and its beautiful interface has made it a fan-favorite in the crypto community.
8. Exodus – Exodus is a beginner-friendly desktop and mobile wallet. It integrates the exchange platform of ShapeShift, allowing a convenient option of trading your cryptos directly through the wallet.
9. Trezor One – the Trezor One is a great hardware wallet that is simple to use, yet provides a high level of security. It also has a small screen that shows transaction details and, for a $60 entry price, it’s quite an affordable option.
10. Atomic Wallet – with this wallet, users can store more than 300+ different cryptocurrencies. Furthermore, it supports Atomic Swaps, a method that allows users to swap some supported tokens free of charge.
11. Enjin Wallet – being one of the most popular mobile wallets, Enjin is available for Android and iOS. It allows the infinite creation of different wallets within the app, supports decentralized exchanges and users can store gaming collectibles created on the Enjin Blockchain.
12. Bitcoin.com paper wallet – another paper wallet that proposes 4 different printable layouts, for those that are looking for a paper wallet with greater visual appeal.
13. Guarda – this is a multi-platform, decentralized wallet that supports more than 40 different Blockchains. Its simple interface and great device coverage make it a great choice for beginners and experienced crypto investors alike.
14. Ledger Nano X – this is a more expensive version of the Nano S. It has the same level of security, but the larger memory and battery justify the price hike. It’s for those that need more apps on their wallet and uses it for extensive periods of time.
After going through this extensive list, let’s remind ourselves of the best Bitcoin Cash wallets and their respective categories:
- Mobile Wallet – Coinomi
- Web Wallet – BTC.Com
- Desktop Wall – Electron Cash
- Hardware Wallet – Ledger Nano S
- Paper Wallet – Cashaddress
There’s a lot of great choices here, but if we really must pick a winner, it would be the Ledger Nano S.
For $60, you have the best security available, paired with good day-to-day usability. If you are serious about your Bitcoin Cash storage, you can’t go wrong by choosing this hardware wallet.
– Frequently Asked Questions –
Do you still have questions regarding the Bitcoin Cash wallet and the way they work? We have compiled a shortlist with the most frequently asked questions and answers.
What is the difference between Bitcoin Cash and Bitcoin?
Bitcoin Cash is a fork from the original Bitcoin (BTC). It resides on an entirely different Blockchain and aims to remedy some of Bitcoin’s shortcomings.
For example, unlike Bitcoin, Bitcoin Cash’s technology allows for an increase in the number of blocks. This works in its favor as it provides better scaling of the network when the number of users inevitably increases.
What is a Bitcoin Cash private key?
The BCH private key is a code comprised of 64 characters, which helps users access their BCH on the blockchain. You should always keep this key private.
What is a Bitcoin Cash public address?
The public address is a code that you can use when receiving BTC or requesting payments in the same cryptocurrency.
What is a seed phrase?
The seed phrase is a sequence of 12 to 20 words that stores all the information needed to recover your private key. Most wallet software generates one upon creation of the keys, and you need to note it down on a piece of paper so you can recover your wallet in case of a loss.
What is the safest way to store Bitcoin Cash?
Most people consider hardware wallets the safest way to store your cryptocurrencies. Here’s a list of some that you might want to consider:
I sent Bitcoin to my Bitcoin Cash wallet. Why can’t I see them?
Unfortunately, BTC and BCH do not share the same Blockchain, although they have the same key format.
This means that a BCH wallet can only receive BCH coins.
Always make sure you are sending your coins in the right type of wallet, and double-check for errors, as transactions are irreversible. This makes it impossible to recover coins sent on wrong addresses.