How Can Users Securely Withdraw and Store Bitcoin Cash

sergey44 (66)in #crypto • 7 years ago

Only a handful of Bitcoin wallet platforms and exchanges are supporting Bitcoin Cash deposits and withdrawals. Bitcoin users who received Bitcoin Cash (BCH) after the Aug. 1 hard fork can utilize secure wallet platforms from Trezor, BTC.com and BitGo to safely store BCH.As Cointelegraph previously reported, even Trezor, which released a beta BCH wallet immediately after the fork was completed, explained that the integration of BCH was significantly harder than the team expected. In an official blog post, Trezor revealed some of the difficulties its development team faced: “On the day of the fork, however, we started noticing odd things happening. During the maintenance of the BCH Bitcore server, we witnessed how the server started losing addresses and transactions. Addresses had negative balances, which should not be technically possible. This caused the initial delay in deployment, as we could not release a Wallet that would use corrupted data.”So, which Bitcoin wallet platforms support BCH? As of current, BTC.com, BitGo and Trezor are supporting BCH deposits and withdrawals. Users that have been credited with Bitcoin Cash upon the execution of its hard fork can safely store BCH on the three wallets. BitGo has integrated a user-friendly interface into its main cryptocurrency wallet platform due to overwhelming demand from BCH holders. Because many wallet platforms and exchanges like Coinbase refused to provide support for BCH, Bitcoin users that were credited with BCH requested prominent wallet platforms including BitGo to integrate support. “Due to strong customer interest, BitGo will enable full support of Bitcoin Cash. You’ll soon find a new coin in the BitGo interface and be able to fully send and receive BCH from your BitGo wallet,” said the BitGo team. BTC.com was one of the first wallet platforms in the industry to integrate full support for BCH users. Similar to BitGo, BTC.com developed a specific user-interface for BCH users. The BTC.com wallet “As of Aug. 4, 2017, both current and new BTC.com users can send, receive and store Bitcoin Cash in the BTC.com Bitcoin Cash wallet. The BTC.com Bitcoin Cash wallet is currently available as a web wallet, and can be best accessed from desktop,” revealed BTC.com.