Crowdsourcing Clarity, Ep.11: I need to "secure" my Bitcoin Cash. How do I do that? Where should I store it? (10 SBD reward for most helpful answer!)
Well, your resident lazy ass (translation: "work smarter, not harder" advocate) is back, and I need your help.
10 SBD reward for the most helpful answer!
At the time of the recent Bitcoin hard fork, I had some Bitcoin stored in my Jaxx mobile wallet. It is my understanding that (thanks to a previous Crowdsourcing Clarity post) I now have two currencies, BTC and the new BCH. My questions are as follows:
- Do I need to "claim" this BCH at some point, or does it exist on the separate BCH chain indefinitely?
- Where is a safe and secure place to keep this BCH?
Thanks so much. Looking forward to hearing your answers.
~KafkA
Graham Smith is a Voluntaryist activist, creator, and peaceful parent residing in Niigata City, Japan. Graham runs the "Voluntary Japan" online initiative with a presence here on Steem, as well as Facebook and Twitter. (Hit me up so I can stop talking about myself in the third person!)
I love your post, thanks for sharing! I gave you a vote. I hope you enjoy it.
Bitcoincash has an electrum fork called electron. Electron can import private keys. If you have a large amount you can use bitaddress.org. Every key/address pair in BTC is a valid as a BCH key/address pair. You can generate it offline with a psuedorandom generator or use a real random number generator: a penny: flip 256 times and convert the bits into a wif; Use a six sided die and roll it 99 times; roll a 20 sided die and roll 59 times.
The key and address can be stored on paper and the address can be derived from the key using softwar. Some download the web page from www.bitadress.org to a portable drive and boot to a live disk installation.
Secure your bitcoins offline, we should not believe in online wallets as there are many hacks are happening. But saving bitcoins offline is the most secure method,
Follow this link i guess it explains how to secure your bitcoins offline
https://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet
sory sir i dont give u a better anwer from u thinking bcz i m still pour in crypto knowledge and in only get my some knowledge on crypto from u and some other talented people here in steemit hope any one give u a better answer which u like @kafkanarchy sir
You're now the owner of BCH :). It sounded like the wallet was working on supporting the BCH asap so check for updates and see if that helps simplify it.
https://steemit.com/bitcoin/@amaralluis/jaxx-statement-on-bitcoin-cash-bch
it is a good question and look forward to finding out for myself too, i would only be assuming if i gave my opinion.
You may know that I am ignorant about crpto world, I only want to tell that please be careful with your precious things, prevention is better than cure, so be careful, have a great day friend, Good luck and happy steeming.
You now own the BCH indefinitely. To claim it you would have to import the btc keys onto a BCH wallet. I would move the btc out of that wallet to a different one on another machine before importing the key for the BCH just in case.
this is from the Jaxx Official Statement Regarding Bitcoin Cash (BCH)
Thanks for the helpful answer, @suprepachyderm. 10 SBD on the way!
I moved my pittance of Bitcoin cash to the Cryptopia exchange. Their crypto transfer fees are low for trading if you ever want to convert it to another currency or buy more. Obligatory referral link that probably gets neither of us anything due to my low level of participation
It already exists, but you will need to "claim it" with your private keys (the same ones as with BTC). You can do this any time, no hurry - it exists no matter what you do.
https://www.bitcoincash.org/ has a good choice of wallets that support Bitcoin Cash
You can also check in your Jaxx wallet if they have integrated BCH into it. From what I can see, they will do this as soon as they index the whole blockchain (if it hasn't happened already)
This is how it look inside Bittrex:
