Bitcoin Cash (BCH) is a top digital currency and continues to grow as people learn about its breakthrough potential as a peer-to-peer digital payment system. For a refresher on what Bitcoin Cash is and other things you need to know about BCH, check out the Getting Started page—a collection of essential Bitcoin Cash information, guides, and reviews.
(Update: Bitcoin Core is less usable as money due to much higher fees and delayed transaction times. The Core team has also expressed an interest in keeping these fees high since they view BTC as a “store-of-value” and not something to be transacted on a daily basis. In contrast, Bitcoin Cash’s transaction fees cost pennies and payments can be validated even with zero confirmations. These facts make BCH the ideal cryptocurrency for sending and receiving money anywhere in the world.)
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 Cash to Your Wallet
Now that you have a wallet, you probably want to add some bitcoin to your balance. Have your Bitcoin Cash wallet address ready and visit the buy Bitcoin page. Here, you will be able to easily purchase Bitcoin Cash with a credit card. 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 Bitcoin Cash
Receiving Bitcoin Core 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 (for help converting fiat currency into bitcoin visit our Bitcoin Tools page.)
- Confirm that the address and amount are both correct
Bitcoin Cash is accepted by thousands of individuals plus many websites, and brick-and-mortar businesses around the world. You can also play games with Bitcoin.
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 Core 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: