Read an important announcement about Bitcoin from Bitcoin.com Bitcoin Cash is a cryptocurrency based on a fork of the Bitcoin blockchain. There are a few key differences between Bitcoin Core (BTC) and Bitcoin Cash (BCH) worth noting. Before proceeding, please remember that you are responsible for your own security; this means taking the steps to secure your private keys and backing up wallets.
Some of you may be wanting to import your Bitcoin Cash balance from other wallets. This works the same way as importing Bitcoin and other cryptocurrencies from one wallet to another.
From the official Bitcoin Cash site:
All Bitcoin holders as of block 478558 are now owners of Bitcoin Cash.
This means that if you held BTC before block 478558 was mined, you have the equivalent number of BCH coins as you do BTC. The exact time of the block is difficult to establish when this has to make sense for people in all timezones, so the best anyone can say is around August 1, 2017, when block 478558 was mined. If you owned BTC then, you have an equivalent number of Bitcoin Cash tokens. If you held 5 BTC, you now have 5 BTC and 5 BCH. This is because Bitcoin Cash is a hard fork of the Bitcoin blockchain, so your BTC exists on the Bitcoin network and chain, and your BCH came into existence at some point on the Bitcoin Cash network and chain. To access your Bitcoin Cash you will need to import a private key from a BTC wallet into a BCH wallet. This assumes either or both of these conditions are true:
Having said that, there are some basic precautions to take.
Spend the BTC from a wallet that you will use to claim your BCH to a new wallet, and secure it properly. Backup your new wallet and take all the same precautions you did for existing BTC wallets. Ensure there is no electronic record of your backup/recovery phrase in particular; this can be considered your private key. Anyone who has it has your BTC.
Wait for the number of confirmations you are willing to accept, or require. This should be around 5 confirmations for those who want access to their BCH now, or for low amounts of BTC (for example, less than 0.1 BTC), or at least 30 confirmations for a significant amount of BTC.
If your old wallet with a now zero balance meets the condition for claiming BCH, then its balance as of around 21:00-22:00 UTC August 1, 2007 will show up in the new block chain for Bitcoin Cash. The old balance will show up and the same number of BCH will be available to claim because the Bitcoin Cash block chain will not see that you spent your BTC to a new wallet after that date. It will have the balance as of block 478558, which is when Bitcoin and Bitcoin Cash parted. So after that "block height," Bitcoin Cash sees the wallet balance as it was (now your old wallet, with a zero balance), and you do not have to (and should not!) give your private key with control of BTC to BCH wallet software. Bitcoin Cash is the version of Bitcoin in which the original properties of digital money still exist. Bitcoin Cash features a blocksize limit to 8mb. This makes for faster, cheaper transactions and better user experience.
Once you have followed the steps above, you can import your 0 balance BTC wallet seed phrase into a BCH wallet to "claim" your Bitcoin Cash.
Thanks for reading this guide and make sure to follow all the latest Bitcoin Cash news from Bitcoin.com