How to Create a Bitcoin Cash (BCH) Wallet

Bitcoin Cash (BCH) is a cheaper and faster version of Bitcoin, but now it is a whole system. Like any other cryptocurrency, it requires a wallet to store and manage the tokens. In this article, we cover the details of Bitcoin Cash wallets, explain how to create one, and tell how to make transactions.

What Is a Bitcoin Cash Wallet?

A Bitcoin Cash wallet is a storage space for your BCH tokens, from which you can send and receive crypto. As with all crypto, your BCH is stored on the blockchain, which your wallet connects to using a private key and which is managed using a public address. We discuss this in more detail further.

What Is a Bitcoin Cash Wallet Address?

A Bitcoin Cash wallet address is a unique ID for receiving BCH tokens. This is pretty similar to a bank account number; therefore, it can be called its analogue in the digital world.

There are several types of addresses for BCH, depending on the purpose.

1. P2PKH (Pay-to-Public-Key-Hash). This is the most common type, used for personal wallets, daily transfers, and payments. It has a legacy format (address starts with ‘1’) and a CashAddr (starts with ‘q’).

2. P2SH (Pay-to-Script-Hash). This type of address is used for shared wallets and business management and therefore requires 2-3 signatures to complete a transaction. The legacy format begins with ‘3’, and CashAddr — with ‘p’.

The legacy and CashAddr address formats are worth discussing in more detail. The legacy address looks roughly the same as a Bitcoin’s, has 34 characters, and examples as ’1BpEi6DfDAUFd7GtittLSdBeYJvcoaVggu’. This often leads to confusion when sending coins, so the CashAddr format was developed specifically for Bitcoin Cash to prevent errors. It often has a prefix and looks like ’bitcoincash:qpm2qsznhks23z7629mms6s4cwef74vcwvy22gdx6a’, with an increased length up to 54 characters.

Crypto Wallets That Support Bitcoin Cash

The options of crypto wallets supporting BCH fall under these categories:

• Software wallets. These can be accessed via your smartphone or PC directly through the provider’s app or website. They are simple to create and convenient for processing daily transactions, though a secure Internet connection is required.

• Hardware wallets. Such wallets store your private keys offline in a special device. It reduces the risk of hacking, but the frequent usage may be difficult.

Software wallets are the most popular due to their convenience. You can choose from providers that only support the wallet (such as Trust Wallet) or platforms that also offer additional services like staking or trading (such as Cryptomus).

How do you choose the right provider? It's important to consider the coins they support, their fees, and their security measures. For example, the Cryptomus wallet, in addition to Bitcoin Cash, supports over 120 other assets—in case you need to convert or plan to trade. Transfers within the platform are completely free, and accounts are protected with 2FA, a PIN, and strong encryption, so you can rest assured that your BCH is safe here. And if you're a beginner, you'll appreciate the interface's design, as it has an intuitively clear structure.

How to Create a Bitcoin Cash Wallet?

The creation process may somewhat vary among wallet types, but the overall steps are similar. Here is a general guide:

• Choose a wallet type. Do you want to store your BCH long-term or make transactions every day? Then you'll need hardware or software, respectively.

• Pick a wallet provider. If you prefer a hardware device, simply choose one based on reviews and reputation. If you prefer software, pay attention to security measures and additional features it offers.

• Download the app or open the website. Depending on your preference, choose the appropriate option and log in to the wallet or crypto platform.

• Create an account. Register with the provider by entering your name, phone number, or email. Enable 2FA for security and complete KYC, if required. After that, your crypto wallet will be created automatically.

• Top up your wallet. Fund your wallet using any convenient method: for example, by purchasing BCH directly with a bank card or on a P2P platform at the best rate.

Now you have your own Bitcoin Cash wallet, and you can freely transact with your assets as you wish!

How to Make Transactions with Your Wallet?

Now you can send or receive your BCH to your wallet. To do this, first request the recipient's BCH wallet address and save it. To send tokens from your BCH wallet, follow these steps:

• Open your wallet.
• Go to the “Send” section.
• Select BCH as the coin you are willing to transfer.
• Enter the recipient's wallet address in the special field.
• Choose the Bitcoin Cash network.
• Notify the amount of BCH to send.
• Click on the “Send” button and confirm the transaction by entering the 2FA code.

Now you just need to wait for confirmation from the recipient that the transfer was successful. We recommend choosing the optimal time to send crypto to speed up the transaction.

Keep in mind that when using a non-custodial wallet, you'll need to pay a transaction fee. It is paid in BCH, so make sure you have some in your wallet.

To receive BCH, you only need your wallet address. To access it, open the main menu and go to the "Receive" section. Your BCH wallet address will be displayed there. Copy it or take the screenshot of the QR code and share it with others.

It’s important to remember that a new wallet address is generated for every transaction to maintain privacy. Always double-check the address and the network before sharing to confirm that it is valid.

We hope this guide has helped you to understand the features of the Bitcoin Cash wallet and learn how to create one. Manage your BCH securely and effectively with Cryptomus!