How to Create a Bitcoin Cash (BCH) Wallet

Bitcoin Cash (BCH) is a cheaper and faster fork of Bitcoin, which has grown to a comprehensive system by now. Like any other cryptocurrency, it requires a wallet to store and manage the tokens. In this article, we cover the details of Bitcoin Cash wallet, explain how to create one, and tell how to make transactions with BCH.

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 assets, your BCH is stored on the blockchain, which your wallet connects to using a private key and which is managed using a public address. For your part, you use coins just as you’re used to using traditional currencies: by managing them through an app, a website, or cards.

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.

P2PKH

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

• The legacy address starts with ‘1’ and looks roughly the same as a Bitcoin’s, having 34 characters. An example is ’1BpEi6DfDAUFd7GtittLSdBeYJvcoaVggu’.

• The CashAddr address was developed specifically for Bitcoin Cash to prevent errors, as similarity with Bitcoin often led to confusion when sending coins. The format often has a prefix and looks like ’bitcoincash:qpm2qsznhks23z7629mms6s4cwef74vcwvy22gdx6a’, with an increased length up to 54 characters.

P2SH

P2SH (Pay-to-Script-Hash) 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’. Examples of such an address:

• The legacy address: ’3N5i3Vs9UMyjYbBCFNQqU3ybSuDepX7oT3’.

• The CashAddr address: ’bitcoincash:pr0062zpd7vr936d83f64u629v886aan7c73r3j5v5’.

Crypto Wallets That Support Bitcoin Cash

When determining how to store your BCH tokens, you have two wallet choices: non-custodial and custodial.

• Non-custodial wallets. This option gives you full control of your private keys and tokens. At the same time, this freedom comes with the full weight and responsibility of keeping your personal and wallet data secure. For example, such options are Metamask and Trust Wallet.

• Custodial wallets. They are provided by exchanges to securely store your private keys, making buying and selling effortless. You have less control over your funds but get support if necessary. A good example is Cryptomus, represented by a reliable wallet and fully-fledged exchange.

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. Sign up by entering your phone number or email. You can also sign up faster using your Google account or Telegram. After this, enable 2FA for security and complete KYC to get access to the platform’s features, and 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. 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!