We are happy to announce that the BTC.com wallet is one of the first wallets that successfully implemented the new Bitcoin Cash address format!
The industry has been busy working on a new standard to help users easily distinguish Bitcoin Cash addresses from Bitcoin addresses. Cryptocurrency enthusiasts who use both Bitcoin and Bitcoin Cash can benefit from the new address format.
Since Bitcoin Cash is a fork of the Bitcoin blockchain, its address format used to be similar to that of Bitcoin, which could have caused confusion for some users. Now, when our users want to receive Bitcoin Cash from another party (friend, exchange, another wallet), they can immediately see that it is indeed a Bitcoin Cash address. How?
As a BTC.com wallet user, you don’t need to take any steps, all Bitcoin Cash addresses generated by your wallet will have the new address format, like this example:
compared to the legacy address type (example):
Of course, the new address type will stay compatible with the legacy Bitcoin Cash address type. You can send and receive Bitcoin Cash to/from an address with the legacy format without any issue.
The industry-wide adaptation of the new address format may require some time. Even though the new address format is compatible with the legacy format, some providers may not recognize it initially.
To avoid any difficulty during the transition, our users will be able to choose between the new and the legacy addresses. To get a legacy BCH address, click the link “use the legacy address format”. To switch back, simply click the same link “use the new BCH address format”.
Always double check your address before you initiate a transaction. When you want to receive bitcoin, choose an address from the Bitcoin section of your wallet. Similarly, to receive Bitcoin Cash, choose a Bitcoin Cash address from the corresponding section of your wallet.
Your BTC.com wallet changes color when you switch currency, from blue background (bitcoin) to orange (Bitcoin Cash). Your Bitcoin Cash address starts with the phrase “bitcoincash:…”, so it’s easy to remember!
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