Bitcoin cash is still a new concept, and we are striving to understand alternative methods. The Bitcoin cash or bcash aka BCH or BCC was launched in August of 2017. Still, some of the beginners don’t understand how they will claim the Bitcoin cash. When dealing with online payment, you have to make sure that you are maintaining high security.
This means that when you use online cryptocurrencies, you have to keep your private key safe and make sure that it doesn’t get stolen. If you want to start trading bitcoins or Bitcoin cash, you can visit pushmoney.app for investing. If you plan to make a quick play in the Bitcoin or Bitcoin cash market, you can take your risks. But you will have to stop here because this article is only for beginners who often get confused. And know that it can be risky.
Take Enough Time
Bitcoin cash employs durable replay protection; this is one of the best features of Bitcoin cash. Sometimes, you were going to pay with Bitcoin cash; instead, you did it with bitcoins; this will not be allowed for the protection applied to it.
On another note, you can think about investing in Bitcoin cash for a more extended period and waiting for better gains. Suppose you keep the bitcoin cash in your wallet without even looking at it. While you carry out all your payments using bitcoins just as usual. However, if you change your mind and have the private key intact, you will still be able to claim your BCH at any given time.
Similarly, if you decide to hold your BCH for an extended period, you can keep that cash as-is and continue spending and trading bitcoins. Both these processes will help you store the currency.
But when the time comes and you want to finally do something about the BCH you have, such as sell it.
Claiming Bitcoin Cash
If you want to claim your Bitcoin cash, you will have to make an account in software or website that deals with Bitcoin cash. When you use the right platforms for the trade, you can be safe and be assured that you can access your money whenever you want. Look at the different ways you can store your private key and claim your Bitcoin cash.
1. Full Node Wallet
These wallets will help you to store the private key in a safe folder on your computer. When you get one of these wallets, you can create a back up using the same portfolio. After you are done following this method, the backup can be imported in one of the full mode Bitcoin cash software. To find the best software, you will have to conduct proper research and find out which will be best for you. It will be wise for you to shift your private keys to one of these wallets so that you don’t have any issue inserting your keep in one of the Bitcoin cash software.
2. Paper Wallets
One of the best methods of storing a private key is leaving it in a paper wallet that is far from any technology. If you keep your private key in portfolios, you have to know that sometimes these wallets can get hacked while in it is left online. Either you have to store it offline on your desktops or write it on a piece of paper. Desktop storages are still safe, but malware designed to fork out your private key can leave you exposed; hence writing remains the best method when kept secure. But most BCH software doesn’t support manual input of private keys.
3. Hardware Wallet
The probably only wallet that will help you to access your money any time you desire. If you have one of these wallets, you are in luck as you can quickly claim the money you have stored. These wallets can be best utilized to take out your cash and use it whenever you like. Plus, these wallets also ensure safety as they are physically encrypted hard drives designed to keep a private key safe.