A receiving address is similar to your bank account number. Each bitcoin wallet has a unique bitcoin receiving address. You can share this bitcoin address with others to let them know how to send coins to your wallet. A BTC address is alphanumeric and always starts with a 1 or a 3. Some desktop wallets offer hardware wallet support, or can operate as full nodes. Difficult to utilize QR codes when making transactions. Susceptible to bitcoin-stealing malware/spyware/viruses. Hardware wallets. One of the most secure methods to store funds. Ideal for storing large amounts of bitcoin.
Here are three steps to help you get started using Bitcoin Cash right now:
Step 1: Download a bitcoin wallet
A Bitcoin wallet is an app or program that allows you send and receive BCH. Wallets also keep track of your BTC balance which is held in one or more bitcoin addresses. Generally, wallets also have a feature that keeps a history of your Bitcoin Cash transactions. There are many different wallets across various platforms. While they all share certain basic functionality, features vary from one wallet to the other so it’s worth learning more about How to Choose a Bitcoin Wallet before downloading the wallet of your choice.
Step 2: Add Bitcoin or Bitcoin Cash to your wallet
Now that you have a wallet, you probably want to add some bitcoin to your balance. Have your Bitcoin or Bitcoin Cash wallet address ready and visit the buy Bitcoin page. Here, you will be able to easily purchase bitcoins with a credit card. You can also buy BCH and BTC right from the wallet mobile app.
Another option is to choose a Bitcoin Exchange where you can quickly set up an account and buy bitcoins with funds from a bank account or credit card. Keep your private key(s) private and never share with anyone. It is very important to backup your wallet’s private key and any other credentials for offline storage. Failing to backup could result in the loss of your Bitcoin holdings if you should ever lose the device on which the wallet is installed.
Step 3: Use a bitcoin wallet to send and receive bitcoins
Receiving bitcoins is as easy as giving the sender your public address. Sending bitcoin requires a few more steps and since bitcoin transactions are irreversible, it is important to pay attention when sending. Overall, the process for sending bitcoin is actually quite easy:
- Copy the receiver’s public Bitcoin address (or scan QR code)
- Open your wallet and navigate to its “Send” feature, paste the receiver’s address into the appropriate field
- Specify the amount you want to send
- Confirm that the address and amount are both correct
- Send
Bitcoin Cash is accepted by thousands of individuals plus many websites, and brick-and-mortar businesses around the world.
Best Practices for new bitcoin users
Congratulations! You have bought your first BTC and know the basics of receiving and sending—you are now a full-fledged Bitcoiner! You have the basics but there is always more to learn. Bitcoin is a tool that is only as useful as your ability to hold and spend it properly. Here are some best practices for new BTC users to read and learn:
The above steps are just the basics. Bitcoin and it's blockchain technology on which it relies are robust solutions to payment obstacles all over the world. It's important to have a solid understanding of how to receive, store and spend your bitcoins.
3 ways to learn more about bitcoins:
Send Money Anywhere In the World, Almost for Free
With Bitcoin Cash, you can send money to anyone, anywhere in the world, 24 hours a day, 365 days a year. Like the Internet itself, the network is always on. No transaction is too big or too small. And you never need anyone’s permission or approval.
Be Your Own Bank and Have Full Control Over Your Money
The seizing of capital from account holders (“bail-ins”) that occurred in Cyprus and nearly in Greece, demonstrated that bank deposits are only as safe as political leaders decide. Even under the best of conditions, banks can make mistakes, hold funds, freeze accounts, and otherwise prevent you from accessing your own money.
Banks can also decide to block your transactions, charge you fees, or close your account without warning. Bitcoin Cash gives you full, sovereign control over your funds, which you can access from anywhere in the world.
A Scarce Digital Currency with a Known, Fixed Supply
The Bitcoin Cash protocol ensures there will never be more than 21 million coins in existence. Governments constantly print money out of thin air, endlessly inflating the supply and devaluing everyone’s savings. Bitcoin Cash has a fixed supply and therefore represents sound money.
Increase Your Privacy and Operate Anonymously
Bitcoin Cash offers more privacy and anonymity than traditional payment systems like bank transfers and credit card payments, since it’s normally impossible to know who controls a Bitcoin address.
Bitcoin Cash offers various levels of privacy depending on how it is used. It’s important to educate yourself thoroughly before using BCH for privacy purposes.
Enjoy Exclusive Discounts
Many merchants offer discounts for paying in Bitcoin Cash, because it eliminates credit card fees and helps grow the adoption of this new payment system.
Bitcoin Cash Address Lookup
Support Freedom Worldwide
How To Get A Bitcoin Cash Address
Bitcoin Cash is a permissionless, open network. It empowers you to engage with your fellow human beings without intrusion. It’s decentralized, voluntary, and non-aggressive. As usage grows, old power structures will erode while fresh ideas blossom. It may help usher in the greatest peaceful revolution the world has ever known.