If you want to use cryptocurrency, you need a good wallet and that does not mean a wallet filled with cash, but an electronic wallet that really offers you the features that you need when you need them the most.
There are many cryptocurrencies, so it is no surprise that there are also many wallets that you can choose to use, which can make pretty hard for you to decide which one is the perfect answer to your problems.
To help our readers in which can be a difficult problem, we review, among other products that could be interesting for our readers, cryptocurrency wallets. Today, our subject is a wallet called Electron Cash.
What Is Electron Cash?
Have you heard of the Electron Bitcoin Wallet? Electron Cash is the version of that wallet for Bitcoin Cash (BCH).
As BCH is an increasingly popular cryptocurrency, the need for an electronic wallet of BCH grew and the company that made the Electron Bitcoin Wallet decided to make a version with the same features so that their users can also use this popular new cryptocurrency.
Electron Cash, that is in its Version 2.9.4, can be used in Windows, OSX, Linux and Android.
How Does Electron Cash work?
This product works in a similar manner to Electron Bitcoin Wallet. Using this wallet you can control your own private keys and back up your Electron Cash wallet with a mnemonic seed phrase so you really can be secure.
As it is the case with their other wallet, Electron Cash uses SPV technology, a type of technology that allows users to have more security without needing to download the blockchain.
The code of the program is based on their original program but filled with the necessary information so that their users can store Bitcoin Cash instead.
Using this program, you can expect features like no lock-in, proof checking, cold storages, multisig and no downtimes at all.
How To Invest Using Electron Cash?
To use this wallet, you first have to download it on the site and then you can make an account and transfer Bitcoin Cash to it. The site advise their users to verify their downloads so they know that their download is legit.
It is also important to always use the latest version of the program so you can be 100% sure that you will not find any type of bug and that the program will work in the best possible way.
There is one important point that you should know. In the Electron Cash site, there is an advice for users to only download the wallet there because there are already impostors making fake sites and scamming users into using their fake wallets.
If you want to avoid any kind of scam, you have to always use only verified and trustworthy wallets or you can have many problems that will definitely hurt your pocket. Be wary of scams.
The Electron Cash Verdict
Is this the wallet for you? If you intend to use Bitcoin Cash and especially if you already used Electron’s wallet for the original Bitcoin, this can definitely be a good investment for you. The wallet is secure and offers you a good way to store Bitcoin Cash.
The downside is that this is a very new wallet and that is only capable of storing one type of currency, so it might not be a good choice for you if you plan to use other cryptocurrencies too and you need to centralize your investments.
In the end, the biggest factor that can help you choose between using the Electron Cash wallet or not is needing to store other types of cryptocurrencies or not. If you do not need to do this, this can definitely be a very good choice for you.