Bitcoin Specie is a cryptocurrency based on a fork of the Bitcoin blockchain. There are a few key differences inbetween Bitcoin Core (BTC) and Bitcoin Contant (BCH) worth noting.
Before proceeding, please reminisce that you are responsible for your own security, this means taking the steps to secure your private keys and backing up wallets.
Using the Bitcoin.com Wallet to manage Bitcoin Specie
- Bitcoin.com’s software wallet supports both Bitcoin Core (BTC) and Bitcoin Contant (BCH). Go after the steps below to create a Bitcoin Metselspecie wallet:
- Download the Bitcoin.com Wallet
- Tapkast the “+” te the Wallets spijskaart on the Huis screen
- Select “New individual wallet”
- Edit the Wallet Name to whatever you choose, e.g. “BCH Wallet”
- Tapkast the toggle button te the “Bitcoin Cash” field to activate and make this a BCH wallet
- Tapkast “Create fresh wallet”
- Backup wallet seed phrase
Some of you may be wanting to invoer your Bitcoin Metselspecie balance from other wallets. This works the same way spil importing Bitcoin and other cryptocurrencies from one wallet to another.
“I had BTC before the fork. How do I get my BCH post-fork?”
All Bitcoin holders spil of block 478558 are now owners of Bitcoin Specie.
This means that if you held BTC before block 478558 wasgoed mined, you have the omschrijving number of BCH coins spil you do BTC. The precies time of the block is difficult to establish when this has to make sense for people te all timezones, so the best anyone can say is around August 1, 2018, when block 478558 wasgoed mined. If you wielded BTC then, you have an omschrijving number of Bitcoin Metselspecie tokens.
If you held Five BTC, you now have Five BTC and Five BCH. This is because Bitcoin Metselspecie is a hard fork of the Bitcoin blockchain, so your BTC exists on the Bitcoin network and chain, and your BCH came into existence at some point on the Bitcoin Specie network and chain. To access your Bitcoin Metselspecie you will need to invoer a private key from a BTC wallet into a BCH wallet.
This assumes either or both of thesis conditions are true:
- You were and are te accomplish control of your private keys
- An online wallet (such spil with an exchange or elsewhere) explicitly supports Bitcoin Metselspecie and you can trust them to deposit the keurig amount of BCH into your online wallet
Having said that, there are some basic precautions to take.
Send all of your BTC to a fresh wallet
Spend the BTC from a wallet that you will use to keuze your BCH to a fresh wallet, and secure it decently. Backup your fresh wallet and take all the same precautions you did for existing BTC wallets. Ensure there is no electronic record of your backup/recovery phrase ter particular, this can be considered your private key. Anyone who has it has your BTC.
Wait for confirmations
Wait for the number of confirmations you are willing to accept, or require. This should be around Five confirmations for those who want access to their BCH now, or for low amounts of BTC (for example, less than 0.1 BTC), or at least 30 confirmations for a significant amount of BTC.
Use your old wallet with a zero balance to invoer BCH
If your old wallet with a now zero balance meets the condition for claiming BCH, then its balance spil of around 21:00-22:00 UTC August 1, 2007 will showcase up ter the fresh block chain for Bitcoin Contant. The old balance will voorstelling up and the same number of BCH will be available to voorkoop because the Bitcoin Metselspecie block chain will not see that you spent your BTC to a fresh wallet after that date. It will have the balance spil of block 478558, which is when Bitcoin and Bitcoin Specie parted. So after that “block height,” Bitcoin Metselspecie sees the wallet balance spil it wasgoed (now your old wallet, with a zero balance), and you do not have to (and should not!) give your private key with control of BTC to BCH wallet software.
Bitcoin Specie is the version of Bitcoin te which the original properties of digital money still exist. Bitcoin Contant features a blocksize limit to 8mb. This makes for quicker, cheaper transactions and better user practice.
Invoer BCH from a BTC address using the Bitcoin.com Wallet
Once you have followed the steps above, you can invoer your 0 balance BTC wallet seed phrase into a BCH wallet to “claim” your Bitcoin Metselspecie.