Bitcoin Cash is one of the most popular cryptocurrencies on the market, with a market cap of more than $2.3 billion. People purchase Bitcoin Cash as an investment, or use it as electronic cash; however, what many seem to forget is that it’s also crucial to find the best Bitcoin Cash wallet that would provide strong security and all the necessary features.
Back in 2020, millions worth of Bitcoin Cash were stolen via SIM card attack, in a very short amount of time. This attack showed how important it is to choose a reliable hardware wallet, and employ multiple crypto storage solutions at once.
Since there are so many different options that can be found on the market, things can get a little confusing. That’s why today, I will introduce you to the most secure and reliable options that are currently considered to be the best Bitcoin Cash wallets based on a variety of user reviews:
- Ledger Nano X
- Trezor Safe 5
- Trezor Model T
- Ledger Nano S Plus
- Binance Wallet
- Coinbase Wallet
- KeepKey Wallet
- Trezor One
Before jumping straight into the list, I would like to focus on a few important aspects - the different types of wallets you can find on the market, and the most crucial points that you have to consider when choosing the best Bitcoin Cash wallet for your personal needs.
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Best Bitcoin Cash Wallet: The Variety of Wallets in the Market
There are 4 different types of wallets in the market today:
- Online wallets
- Software/app wallets
- Hardware wallets
- Paper wallets
Let’s take a look at each of these Bitcoin Cash wallets in more detail.
Online Wallets
Let’s begin with online, or browser- / web-based wallets. In most cases, online wallets are the least secure; they usually store your private keys on the server, which means that, in case the server is hacked, your security is also compromised. You can think of online wallets as simply storing Bitcoin Cash on the exchange - that’s never recommended, as a standalone crypto storage option. Online wallets are also called hot wallets because you need to maintain a connection to the internet to use them.
Of course, online wallets have their own advantages. The most notable one is usability. You’ll be able to make transactions & payments, and buy & sell cryptocurrencies instantly.
A situation where you might want to choose an online wallet for Bitcoin Cash is if you store a small amount of crypto. You would then store the rest somewhere else (i.e. a hardware crypto wallet).
Software / App Wallets
It’s fair to say that software / app wallets are among the most popular ones. Just like online wallets, they tend to be very easy to use. Also, such wallets are completely free; all you need to do is download a mobile or desktop app, and start using it.
While some people consider software wallets as the best Bitcoin Cash wallets, it's worth noting that they aren't the most secure option (hot wallets). It doesn’t mean that there are no secure Bitcoin Cash wallets on the market - it simply depends on the provider you choose. You’ll find software wallet recommendations for Bitcoin Cash in the list below, as well.
Hardware Wallets
I bet that you’ve heard a lot about hardware Bitcoin Cash wallets before. They are considered to be really secure and reliable, especially due to the fact that your private keys are stored offline.
Hardware wallets tend to be more complicated to use than online or software wallets; however, once you get used to using them, this aspect is almost unnoticeable. Also, such wallets are not free, but a single payment for your security is completely worth it.
Paper Wallets
Paper wallets are the only non-technical way to store your cryptocurrencies. All you need is to simply write down your private and public keys on a piece of paper. The problem is that, every time when making a transaction, you’ll need to provide your public key. This might take a while.
Also, there’s a risk of losing the paper on which you wrote down your private keys, in which case, there’s nothing you can do about it. Even though paper wallets have a few drawbacks, you might want to consider this option if you’re looking for a cold wallet.
All things considered, it would be difficult to answer which of these wallets is the very best one - everything depends on what it is that you’re looking for. If security is your number one priority, then hardware and paper wallets should suit your needs best.
LEDGER NANO X | BINANCE | |
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Table: The payment methods of the Ledger Nano X and the Binance wallet
However, if you want an easy-to-use wallet for Bitcoin Cash, then you might choose software or browser-based wallets (keep in mind that not all of them are secure).
By now, you should have a clear understanding of the different types of Bitcoin Cash wallets that you can find on the market. So, let’s take a look at the most important factors that matter when choosing the best Bitcoin Cash wallet, and then jump straight to the list.
The Main Criteria You Have to Look Out For
If you find it difficult to choose the best Bitcoin Cash wallet, you should keep in mind these four factors:
- Is the wallet secure? This is the most important question that you should be asking when choosing a wallet. If security is your number one priority (as it should be), then it’s recommended to choose cold wallets instead of hot ones. Keep that in mind when picking the best Bitcoin Cash wallet.
- How easy is it to use a wallet? If you buy and sell cryptocurrencies multiple times throughout the day, you should make sure that the wallet is easy-to-use. Otherwise, it might take you forever to make transactions, payments, withdrawals, and other actions.
- Is it easy to access a wallet? You should make sure that the wallet is easy to access, anywhere and anytime. Also, when it comes to hardware wallets, you should find out how complicated the recovery process is. Talking about the best Bitcoin Cash wallets, each of them makes the process of recovering assets really simple.
- How many cryptocurrencies does the wallet support? It happens that people who are looking for a specific cryptocurrency wallet later decide to purchase other cryptocurrencies. For this reason, you should get ahead of yourself, and pick a wallet that supports various cryptocurrencies, not only Bitcoin Cash.
When going through the list of the best Bitcoin Cash wallets, you should keep each of these aspects in mind - it will help you choose wisely.
1. Ledger Nano X - The Most Secure Bitcoin Cash Wallet
Ranks #1 out of 8 Crypto Wallets
- + Can be managed from mobile device
- + Very secure
- + Supports more than 5500 cryptocurrencies
- + Comfortable design
- - Relatively expensive
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The very first wallet that I’m super excited to introduce is Ledger Nano X. It’s one of the best Bitcoin Cash wallets for a variety of different reasons, a few of which are security and reliability.
Ledger company was founded back in 2014 by 8 individuals who were knowledgeable in regards to cryptocurrencies, and had a cybersecurity background. Currently, the company focuses on providing security to crypto-based services and products.
The very first hardware wallet created by the company was called Ledger Nano S, with an updated version called Nano S Plus being released later (we’ll talk about, as well); however, there's also a more advanced version that’s often referred to as the best Bitcoin Cash wallet - the Ledger Nano X.
Ledger Nano X is a hardware wallet, which means that your private keys are stored offline. The wallet has Bluetooth Low Energy (BLE) connectivity, so you don't need a cable to perform different actions. All you need is to download a single Ledger Live app, and you'll be able to control everything from it.
What you should know is that when using Ledger Nano X, your private keys never leave the device. Also, the public data is transferred via Bluetooth. Since Bluetooth connection can be threatened, this wallet features a Secure Element (SE). If your Bluetooth connection is hacked, it will ask for your permission before making any changes. These features make it one of the best Bitcoin Cash wallets.
Now, since hardware wallets are physical devices, you should make sure that they’re made of high-quality and durable materials. Ledger Nano X is made of stainless steel and other durable materials, so it’s highly resistant to physical damage, and will serve you for years to come.
Ledger Nano X has a wider screen than the company’s original model - Ledger Nano S. That makes it much more comfortable to use, as the wider screen allows you to see more information at once. It also has 2 buttons for navigation.
What is the Ledger Nano X Price?
Currently, Ledger Nano X costs $149. However, Ledger provides various deals and discounts on special occasions, so you could get this hardware wallet for even less.
Also, keep in mind that you can purchase the Ledger Nano X Family pack that contains 3 devices for $399. Choosing Ledger Nano X is completely worth it. After all, you pay only once, yet can enjoy one of the best Bitcoin Cash wallets for years. Trust me, security is completely worth it.
2. Trezor Safe 5 - Full Bitcoin Cash Network Support
Ranks #2 out of 8 Crypto Wallets
- + Supports over 7000 crypto assets
- + Easy navigation
- + Open-source
- + EAL6+ certified chip
- + Enhanced security features
- - Relatively expensive
- - No seed recovery service
If you’ve spent some time in the crypto space, you’ll undoubtedly have heard of Trezor. Whether it be its multiple additions in this list of the best Bitcoin Cash wallets, or the brand name coming up whenever the words “Bitcoin” and “wallet” are mentioned, one thing’s clear - Trezor is one of the best-known cold wallet providers in the industry.
I’m not mentioning Bitcoin by chance here, either - while Trezor wallets do support a huge list of different crypto assets (currently over 7000, to be a bit more specific), it has always had a special focus on BTC. On the topic of the Safe 5 wallet, there’s actually a BTC-exclusive version available to be purchased, altogether!
But, this is a list of the top BCH wallets - what’s the situation with this asset, specifically?
The Safe 5 is the latest cold wallet device released by Trezor. It features full BCH network support - users can send and receive BCH with ease, as well as exchange it via the Trezor Suite interface.
On top of that, and from a more general perspective, the Trezor Model 5 is certainly among the most innovative hardware crypto storage products to come out in recent years. It features a sleek yet familiar design, a touchscreen infused with Gorilla Glass, and the Model T-throwback microSD card slot, for additional security.
Naturally, the wallet features all of the standard safety features you’d expect from a top-tier hardware device - recovery phrases, Secure Element (EAL6+), and an open-source design philosophy.
What is the Trezor Safe 5 Price?
As of writing this list of the best Bitcoin Cash wallets, the Safe 5 will set you back €169. It’s a competitive price tag, when you consider the fact that this is one of the top hardware crypto storage options on the market right now!
3. Trezor Model T - Reliable Bitcoin Cash Wallet
Ranks #3 out of 8 Crypto Wallets
- + Top-notch security
- + Touchscreen user interface
- + Easy to set up
- + Supports around 1000 crypto assets
- - Pricey
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A hardware wallet that you’ll definitely come across when looking for the best Bitcoin Cash wallet is Trezor Model T. Just like Ledger Nano X, this model is a more advanced version of the company’s original device, so it provides strong security and even better features.
Trezor Model T was created in 2017, and became a popular and more advanced alternative to Trezor One (the company’s original wallet). It’s being sold to customers in 150 countries worldwide.
Since Trezor Model T is a hardware wallet, it stores your private keys offline. What is more, it’s considered to be one of the best Bitcoin Cash wallets due to its security features. The device supports BIP39 passphrases, which means that it never remembers them.
What is more, Trezor Model T locks your passwords within the Trezor Password Manager. Each of them is stored individually by using your digital keys. Also, no actions will be performed without your permission - when it comes to making any changes, you will also need to provide your PIN.
Compared to the previous Trezor model, this device improved significantly. It has a bigger screen and two buttons for easier navigation, making it more comfortable to use than the previous version.
I know that some people are worried about the fact that hardware wallets are more difficult to use than software or online ones. However, Trezor Model T comes with all the necessary instructions that you will need to set up and start using the device. You’ll quickly get used to it, and you shouldn't really need any additional help.
The final aspect to be mentioned before moving to the pricing is the number of supported cryptocurrencies. Currently, Trezor Model T supports more than 1600 coins and tokens. Taking into account all the features, it’s fair to say that it’s not only one of the best Bitcoin Cash Wallets, but also one of the most recommended options for all the supported digital currencies.
What is the Trezor Model T Price?
The Trezor Model T is more expensive than the Ledger Nano X. At the moment, the wallet costs $219, when you purchase one device. However, if you buy a bundle for yourself as well as your family and friends, you will likely pay less.
Also, don’t forget that hardware devices provide exceptional security - something that's completely worth the price tag, in most top-product cases!
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Compare Crypto Wallets Side by Side With Others
All Crypto wallets may look similar to you but they're NOT all the same!
4. Ledger Nano S Plus - A Secure & Affordable Wallet for Bitcoin Cash
Ranks #4 out of 8 Crypto Wallets
- + Top-tier security
- + DeFi app support
- + Store over 5500 assets, install up to 100 apps simultaneously
- + Fair-priced
- + NFT support (with Ledger Live)
- + Larger display screen
- - Button placement could be better
Ledger Nano S Plus is one of the most popular hardware wallets, especially for its security and affordability. As already mentioned, it’s an updated version of the original Ledger Nano S wallet that was one of the first hardware wallets on the market, in general.
Ledger Nano S Plus provides a single app that allows you to buy, sell and manage your cryptocurrencies. At the moment, it supports around 5500 different crypto assets. That’s a really impressive number!
Also, just like other hardware wallets on the “best Bitcoin Cash wallet” list, Ledger Nano S Plus comes equipped with some strong security features. The wallet stores your private keys offline, in a certified secure chip. This chip cannot be accessed by anyone but you.
What’s exceptional is that Ledger hardware wallets have their own custom Operating System (BOLOS). It works by isolating apps from each other, and protecting devices against malicious attacks. A huge array of people currently rely on the Ledger Nano S Plus to protect their assets.
Since Ledger Nano S Plus comes with a screen, you’ll be able to see all of the actions that you’re performing there. It also has two buttons for navigation, so it will be easy to control what’s happening with your assets.
What is the Ledger Nano S Price?
All things considered, the Ledger Nano S Plus is very affordable. The wallet costs $79, not to mention the fact that you can come across exceptional deals and discounts, and save even more.
If you decide to purchase the Ledger Nano S Plus family pack, you will get 3 wallets for only $213, so you could consider it as an option, as well.
5. Binance Wallet - Reliable Exchange-Based Wallet
Ranks #5 out of 8 Crypto Wallets
- + Multiple cryptocurrency support
- + Very secure
- + SegWit and Bech32 address support
- + Built-in exchange functionality
- + One of the most trustworthy names in the crypto world
- - Mediocre customer support
- - Not ideal for beginners
Tens of millions of people use Binance for they crypto buying, storing, exchanging and trading needs. Even though it's an exchange-based wallet, Binance still has much to offer, to the average crypto enthusiast.
One of the reasons why people choose this wallet is usability. You can use the Binance wallet to track charts and prices of Bitcoin Cash, exchange your assets, buy Bitcoin in less than 5 minutes, see all of your collectibles in one place, and, at the same time, keep your cryptocurrencies protected from hackers and scammers.
Although, when it comes to security, and in a very general sense, exchange-based wallets will never protect you as well as hardware ones, so you should be aware of that.
Signing up for this wallet will take only a few minutes; the process involves registering on the Binance exchange, and then simply setting up your BCH wallet by acquiring some of this coin.
Apart from Bitcoin Cash, the wallet supports a huge number of cryptocurrencies, so you’ll be able to store various digital assets inside of it.
What is the Trust Wallet Price?
Like all exchange wallets, you can use the Binance wallet completely free of charge. Simply download the Binance app, or visit their official website, and get started!
6. Coinbase Wallet - Easy-to-Use Software Wallet
Ranks #6 out of 8 Crypto Wallets
- + Easy to use
- + Free to register and keep crypto coins in
- + Supports thousands of digital assets
- + Top-notch security measures
- - Not as secure as a cold wallet
- - Not the best customer support
There are many options to consider when choosing the best wallet for Bitcoin Cash - Coinbase is one of them.
Coinbase is a different wallet from the previously-introduced ones. It’s an software wallet, meaning that it will require you to maintain a connection to the internet, in order to use it; however, it's very easy to use, and is definitely suitable for beginners and those who store smaller amounts of Bitcoin Cash.
To tell you the truth, it’s always best to have two different wallets - a hardware wallet to keep part of your cryptocurrencies as a long-term investment, and a software wallet for more convenient trading. Of course, it all depends on your personal situation.
Getting back to Coinbase, you’ll see that it provides both an exchange, as well as a wallet. However, you’ll need to download two different apps if you’ll want to use both of these services.
Coinbase wallet comes with truly strong security measurements. The security features include confirmation requests, two-factor authentication, multiple signatures, and even more.
One of the main reasons why people choose Coinbase, not only as the best wallet for Bitcoin Cash, but also as one of the most reliable exchanges, is usability. Coinbase has a very clear design, and is easy to use. Even beginners can confirm that.
What is the Coinbase Wallet Price?
You can download both the Coinbase wallet and exchange app completely free. Also, you should know that Coinbase is compatible with Ledger and Trezor, meaning that you’ll be able to easily split your assets in half and store your assets securely.
7. KeepKey - Secure Wallet that Features Sleek Design
Ranks #7 out of 8 Crypto Wallets
- + Secure hardware wallet
- + Easy to use
- + Attractive price
- + Supports over 7,000 crypto assets
- - Can be heavy to carry around
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KeepKey is one of the better-known hardware wallets that some consider the best wallet for Bitcoin Cash. There are a few different reasons why that’s the case.
The KeepKey wallet is offered by ShapeShift. While the company offers a variety of services and helpful tools, the KeepKey wallet is their most popular product.
KeepKey is a hardware wallet that, as you already know, is considered to be the most secure option in the market. Since the wallet is used offline, it won’t be affected even if your computer is infected with malware.
Just like other hardware wallets, KeepKey provides you with a PIN code and recovery seeds. What is more, the recovery phrase consists of 24 words, and is needed in case you lose this wallet and / or purchase a new device to where you want to transfer your assets.
Talking about exceptional security features, the wallet switches your PIN code numbers from time to time. This way, malware cannot copy your codes and threaten your security.
What’s amazing about KeepKey is that even though it’s a hardware wallet, it’s quite easy to use. The device has only one button for turning it on and off. You can manage everything else using the KeepKey mobile app. Also, since it has a wide screen, you can see all the needed information at once. It’s not that common with other hardware wallets.
Since KeepKey is a physical wallet and has a big screen, you might be worried about damaging it physically; however, there’s no need. The wallet is made of high-end materials - the screen is protected by a polycarbonate casing. Even though scratches might appear over some time, they won’t affect the device’s usability.
However, there are also a few drawbacks associated with this wallet. First of all, it doesn’t support as many cryptocurrencies as some other popular hardware wallets. Secondly, it’s quite heavy (54g), so you might find it slightly uncomfortable to carry out in your pocket.
Other than that, KeepKey surely deserves to be called one of the best Bitcoin Cash wallets you can find on the market!
What is the KeepKey Price?
The KeepKey wallet is one of the most affordable hardware wallets that you’ll be able to find. It costs only $49. However, you should know that, a few years ago, the pricing point of this wallet was around $200. This makes the current price tag a real bargain!
8. Trezor One - Inexpensive & Reliable Bitcoin Cash Wallet
Ranks #8 out of 8 Crypto Wallets
- + Top-notch security
- + A very well-known crypto wallet
- + Holds a huge number of cryptocurrencies
- + Constant firmware updates
- - Pricey
Another crypto cold storage option that we must discuss when talking about the best Bitcoin Cash wallets is Trezor One. This is the original wallet from Trezor that provides high-end security, as well as all other necessary features. Even though it’s not as advanced as the Trezor Model T, it still definitely has a lot to offer.
Trezor One was launched back in 2014, which makes it one of the first hardware wallets on the market, with the Ledger Nano S. The wallet is CE- and RoHS-certified, so it meets the quality and reliability standards of the industry.
Moving further, the wallet asks for your PIN code every time you want to send and receive coins, as well as check your balance. That said, it won’t be permitting any actions without your authorization.
Now, in case you lose your Trezor One wallet, there’s no need to panic. When you set this wallet up, you’ll be given a passphrase. You need to write it down and always store it securely. This passphrase will be needed when restoring your wallet. This and many other aspects add to the fact that Trezor One can be considered one of the best Bitcoin Cash wallets.
When it comes to supported cryptocurrencies, Trezor One supports more than 1400. While this number will be more than enough for most investors, and even more new assets are being added to the list of supported cryptocurrencies every day.
What is the Trezor One Price?
Trezor One is a rather affordable wallet. Currently, it costs $69; however, you might be lucky enough to find the amazing deals that the company offers on special occasions.
Also, when purchasing a 3-pack for you and your friends or family, the price per wallet will decrease, as well.
Conclusions
Just as promised at the very beginning of this article, I’ve introduced the best Bitcoin Cash wallets - the top 8 options. Since each of the wallets provide different features, every individual can find an option that’s going to suit their personal needs.
When it comes to the most recommended options, you should definitely consider Ledger Nano X, Trezor Model T, Binance, and Coinbase.
Now, if security is your number one priority (again, as it should be), you should consider hardware wallets, such as Ledger Nano X and Trezor Model T. However, if you want to find an easy-to-use wallet that would also provide good security features, you should take Binance and Coinbase into account. Combining hardware wallet security with software (online) wallet functionality, you'll have yourself a pretty good deal, crypto storage-wise!
LEDGER NANO X | TREZOR MODEL T | |
24-word seed phrase or Nano S Plus | 12-, 20-, and 24-word seed phrase | |
You | You | |
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Table: The security features of the Ledger Nano X and the Trezor Model T
To make an easier decision, you should always keep these factors in mind: security, usability, accessibility, and the number of supported cryptocurrencies. While security should come first, the rest of the aspects are also important.
I hope that you enjoyed this article and managed to pick the best wallet for Bitcoin Cash based on your personal preferences!
The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.