TUTORIAL | The easiest way to claim your "free" Bitcoin Cash
So you've got some Bitcoins in your wallet before August 1st (a.k.a Bitcoin's Doomsday) happend and now you would like to claim that "free" Bitcoin Cash? Now if you are in control of your bitcoin address' private keys and your wallet provider signals the support for Bitcoin Cash - you are pretty much ready to go. With that said let's get right into it!
In order to gain access to Bitcoin Cash units I personally used Coinomi wallet on my Android phone - it was very straight forward and I was able to send/recieve/trade my Bitcoin Cash in 10 minutes. All I had to do was follow these steps:
- Download Coinomi from Google Play/App Store
- Backup your Bitcoin address via mnemonic seed (a.k.a those 12 words that you have to keep save for backups)
- Choose: add a new coin (Bitcoin Cash) to Coinomi wallet
- In a pop-up dialogue press "Advanced Settings"
- There in "Derivation Path" enter: M/44H/0H/2H
- And that was it! After that a window with Bitcoin Cash wallet will open and you will have full access over your BCH founds!
If you are concerned about security of your Bitcoin wallet (BTC and BCH share the same Blockchain so if someone would gain access to your BCH wallet, he would also gain access to your BTC wallet) you can always migrate your Bitcoins to a hardware or paper wallet first and then go through the steps I wrote about above - you'll still get your Bitcoin Cash, because the amount of founds is bounded to the transaction history and not to the actual amount of Bitcoin in your wallet :)
I hope my tutorial was helpful and straight forward, if you liked it support me with upvotes, resteeming and following. If you want to give me some feedback you are free to express your thoughts in the comment section and as always - have a nice day.
Hey there, are you sure about that 2H in here ? M/44H/0H/2H
I've read you're supposed to put in 0H, but maybe it differes for people who held BTC in Coinomi during the split and those who didnt?
Try both - this one worked for me, but I've heard that people also manage to get access with 0H/0H :)
Good post
Much love @belalh
Hey @belalh :) Thanks for feedback!