You can now send and receive Bitcoin Cash, easily, thanks to the Bitcoin.com especially now in the middle of the Covid-19 pandemic and the faltering global economy. Many of the crypto users showed interest in Bitcoin Cash and other cryptocurrencies but often people can find the process a little confusing because they are not used to using crypto. In the latest bitcoin cash news today, we will give you a quick reminder of how to send and receive Bitcoin cash, much needed in surviving the Covid-19 pandemic.
BCH dropped to a low of $150 during the Black Thursday which was caused by the Covid-19 pandemic. The price quickly gained 60% and reached a price of $241 per BCH. A lot more users started to understand the importance of peer-to-peer cash but most get frustrated when they start using crypto addresses.
In order to get a crypto address, you will need a wallet. The wallets are software-based applications that allow you to send and receive but also store digital currencies on your phone, computer, laptop, or tablet. Bitcoin.com wallet allows users to use their BCH coins and crypto tokens built using the Simple Ledger Protocol. The wallet is noncustodial which means the company has zero access to the funds that are in your control. This means that when you create a wallet, you will need to back it up right away by using a twelve-word mnemonic phase.
Once you created your wallet, you will have to obtain a BCH address by simply pressing “receive” on your Bitcoin.com wallet. You will have to choose which wallet you will be using to receive the coins and it would be bitcoin Cash in this example. Once you select it, the wallet will generate an alphanumeric address that will allow you to accept the coin to the address. Once someone sends you some Bitcoin Cash, you can then send it to another address or send it in fractions to multiple addresses.
To send someone some coins, you will launch the wallet and select the “send” button. This will direct you to a screen of two options: copy and paste the wallet address of the recipient into the address box or select the scan QR code. You will then choose the wallet that holds your unspent coins and enter the amount that you want to send. After selecting the number of funds, select the “next” button. You will be greeted with a confirmation screen with all of the details of the transactions. If you are ok with the details, simply press “slide to send.”
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