A Beginner’s Guide to Claiming and Selling Bitcoin Cash (BCH)

Introduction

Bitcoin Cash (BCH), also known as Bcash, emerged as a fork of Bitcoin on August 1, 2017. Holders of Bitcoin at the time of the fork (12:20 p.m. UTC) received an equivalent amount of BCH. This guide explains how to securely claim and potentially sell your BCH, emphasizing caution due to the evolving nature of the ecosystem.

Key Considerations Before Proceeding

1. No Rush: BCH includes replay protection, meaning your BTC and BCH transactions won’t interfere. You can claim BCH anytime.
2. Security First: Exposing private keys during BCH claims risks losing BTC. Always prioritize securing BTC before handling BCH.
3. Document Addresses: Record Bitcoin addresses holding BTC during the fork for future reference (optional but helpful).

How to Access Your Bitcoin Cash

Option 1: Full Node Wallets (e.g., Bitcoin Core)

• Steps:

  1. Backup your BTC wallet (e.g., via "Backup Wallet" in Bitcoin Core).
  2. Import the backup into a Bitcoin Cash full node (e.g., Bitcoin ABC) on a separate computer to avoid software conflicts.
• Caution: Bitcoin Cash software is new and may lack extensive peer review. Wait for community validation if unsure.

👉 Bitcoin ABC official website

Option 2: Paper Wallets

• Steps:

  1. Move BTC to a new address to isolate funds.
  2. Use a trusted BCH-compatible wallet (e.g., Coinomi) to import private keys.
• Avoid: Electron Cash (unvetted software).

Option 3: Hardware Wallets (Trezor, Ledger)

• Steps:

  1. Follow manufacturer guides (Trezor, Ledger).
  2. Use built-in BCH support to claim funds securely.
• Note: KeepKey users must wait for updates.

Using or Selling Your BCH

Exchanges Supporting BCH (As of August 2017)

• Kraken, Bitfinex, Shapeshift enabled BCH trading post-fork.
• Avoid lesser-known platforms like HitBTC due to liquidity risks.

Privacy & Security Tips

• Address Reuse: BCH and BTC share addresses. Spending BCH reveals linked BTC addresses—move BTC to new addresses first.
• Public Key Exposure: Spending BCH exposes public keys, slightly reducing cryptographic security for linked BTC.

Step-by-Step Recap

1. Secure BTC: Transfer BTC to new addresses before touching BCH.
2. Claim BCH: Use recommended methods (hardware wallets preferred).
3. Sell/Use BCH: Send to reputable exchanges or private wallets.

FAQ Section

Q1: Is it safe to claim BCH immediately?

A1: Yes, but prioritize securing BTC first. Use trusted wallets and avoid unvetted software.

Q2: Can I lose BTC while claiming BCH?

A2: Only if private keys are exposed. Always isolate BTC before handling BCH.

Q3: Which exchanges support BCH trading?

A3: As of August 2017, Kraken, Bitfinex, and Shapeshift were among the earliest adopters.

👉 Explore Bitcoin Cash wallets

This guide will be updated as the ecosystem evolves. Always verify information with trusted sources.