1. #1
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,530
    Betpoints: 8683

    How To Collect Your BitcoinCash as a Blockchain Wallet User

    If you had ANY Bitcoin (BTC) in your blockchain.info/wallet on 1st August when the fork occurred, then you also own an equivalent amount of BitcoinCash (BCC) now.

    It is not visible inside your Blockchain wallet.

    With the value of BitcoinCash rocketing up over $800 some of you may have a bunch of 'free money' sitting there.


    How To Get Your BCC

    You need a wallet that supports BitcoinCash, and then import your Blockchain wallet across into that new wallet.

    1) You need to empty your current wallet of all bitcoin. For security reasons. The easy way to do this is to signup for a new Blockchain wallet and then transfer all your funds across to it. You should never use the old blockchain wallet for bitcoin again.

    2) If you do not already have your 12 word key phrase written down for the old wallet, then log in and get it from the Security tab on the menu.

    3) Download the ElectronCash wallet from here: http://www.electroncash.org/ (this is a desktop wallet based on the popular Electrum wallet, not an online one)

    4) Run the ElectronCash software and it will ask you to create a new wallet.

    • type in a name or leave it as default_wallet and click next
    • select Standard Wallet and click next
    • select "I already have a seed" and click next
    • enter the 12 word seed phrase from your old blockchain wallet in the box then click OPTIONS.
    • tick the box that says "Bip39 Seed" and click ok. Then click next
    • leave Derivation box as is and click Next
    • You can choose a password to encrypt the wallet (that you have to enter each time you open it) or leave fields blank for no password to open wallet. Then click next.



    You should now see the wallet generate itself and sync with your old blockchain wallet and all your old transactions will appear with the balance you had on 1st August but in BCC instead of BTC.

    If you had $1000 worth of bitcoin in your wallet at the time of the fork on August 1st then you should have around $300 value of BitcoinCash now sitting in your new ElectronCash desktop wallet.


    You can now choose to hold them there in that wallet, or transfer them to a trading exchange like Kraken and sell them for $$ or bitcoin.


    (I'd suggest clicking options and selecting a currency so your wallet gives you a US$ value for your holdings automatically if you plan to use the wallet ongoing. Otherwise just sell your BCC and delete the wallet afterward)
    Nomination(s):
    This post was nominated 3 times . To view the nominated thread please click here. People who nominated: Pinoy-T-X, KVB, and lonnie55

  2. #2
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    Too complicated

    I have small amounts so no biggie


    Optional great info

  3. #3
    TheDempster
    TheDempster's Avatar Become A Pro!
    Join Date: 06-27-17
    Posts: 147
    Betpoints: 1518

    Great Stuff as Usual Optional !!

  4. #4
    craigpb
    craigpb's Avatar SBR PRO
    Join Date: 06-19-08
    Posts: 657
    Betpoints: 7562

    Just did this this morning near the current top. Wasn't as complicated as I thought. Also there is now an easier way than Electron Cash.

    After transferring your BTC to a new wallet just as a precaution, follow this guide to setup a BCH wallet and retrieve your hidden BCH from your recovery phrase. Pretty straightforward.

    Once you have your BCH and transaction is confirmed, go to Shapeshift and exchange it for BTC. Send your BCH to Shapeshift and receive new BTC in your new BTC wallet. Once your BTC has been confirmed in Blockchain.info or wherever, you don't have to worry about your new BCH account anymore. Takes about 20 min to exchange on Shapeshift and the fee is too high, but no KYC or another new account and you now have new BTC rather quickly.
    Highest price lately has been around early morning in Eastern US when Asia is trading like crazy.

    Segwit finally impliments on Tuesday so another BTC spike could be incoming.

  5. #5
    BrickJames
    Action
    BrickJames's Avatar SBR PRO
    Join Date: 05-05-11
    Posts: 9,761
    Betpoints: 8914

    Thank you optional

  6. #6
    Sam Odom
    Sam Odom's Avatar Become A Pro!
    Join Date: 10-30-05
    Posts: 58,063
    Betpoints: 37

    Good stuff... !

    jjgold , stay out of threads like this

  7. #7
    TheMoneyShot
    TheMoneyShot's Avatar Become A Pro!
    Join Date: 02-14-07
    Posts: 28,681
    Betpoints: 23701

    Optional good people

  8. #8
    Sam Odom
    Sam Odom's Avatar Become A Pro!
    Join Date: 10-30-05
    Posts: 58,063
    Betpoints: 37

    Sammy's word key phrase: you are a penetrating loser quit before you lose it all


  9. #9
    gauchojake
    Have Some Asthma
    gauchojake's Avatar SBR PRO
    Join Date: 09-17-10
    Posts: 33,668
    Betpoints: 12952

    I actually did this the other day with another wallet that support BCC and it worked like a charm. Easy peasy. First book to start taking BCC is gonna be rich bitch!

  10. #10
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,530
    Betpoints: 8683

    Quote Originally Posted by gauchojake View Post
    I actually did this the other day with another wallet that support BCC and it worked like a charm. Easy peasy. First book to start taking BCC is gonna be rich bitch!
    Agree. Don't have a lot but that's where it will go.

  11. #11
    The Giant
    The Giant's Avatar Become A Pro!
    Join Date: 01-21-12
    Posts: 21,480
    Betpoints: 233

    I'm so glad I sold all my BCH at about $250.

  12. #12
    raiders72001
    raiders72001's Avatar SBR PRO
    Join Date: 08-10-05
    Posts: 10,405
    Betpoints: 14978

    Quote Originally Posted by Optional View Post
    If you had ANY Bitcoin (BTC) in your blockchain.info/wallet on 1st August when the fork occurred, then you also own an equivalent amount of BitcoinCash (BCC) now.

    It is not visible inside your Blockchain wallet.

    With the value of BitcoinCash rocketing up over $800 some of you may have a bunch of 'free money' sitting there.


    How To Get Your BCC

    You need a wallet that supports BitcoinCash, and then import your Blockchain wallet across into that new wallet.

    1) You need to empty your current wallet of all bitcoin. For security reasons. The easy way to do this is to signup for a new Blockchain wallet and then transfer all your funds across to it. You should never use the old blockchain wallet for bitcoin again.

    2) If you do not already have your 12 word key phrase written down for the old wallet, then log in and get it from the Security tab on the menu.

    3) Download the ElectronCash wallet from here: http://www.electroncash.org/ (this is a desktop wallet based on the popular Electrum wallet, not an online one)

    4) Run the ElectronCash software and it will ask you to create a new wallet.

    • type in a name or leave it as default_wallet and click next
    • select Standard Wallet and click next
    • select "I already have a seed" and click next
    • enter the 12 word seed phrase from your old blockchain wallet in the box then click OPTIONS.
    • tick the box that says "Bip39 Seed" and click ok. Then click next
    • leave Derivation box as is and click Next
    • You can choose a password to encrypt the wallet (that you have to enter each time you open it) or leave fields blank for no password to open wallet. Then click next.



    You should now see the wallet generate itself and sync with your old blockchain wallet and all your old transactions will appear with the balance you had on 1st August but in BCC instead of BTC.

    If you had $1000 worth of bitcoin in your wallet at the time of the fork on August 1st then you should have around $300 value of BitcoinCash now sitting in your new ElectronCash desktop wallet.


    You can now choose to hold them there in that wallet, or transfer them to a trading exchange like Kraken and sell them for $$ or bitcoin.


    (I'd suggest clicking options and selecting a currency so your wallet gives you a US$ value for your holdings automatically if you plan to use the wallet ongoing. Otherwise just sell your BCC and delete the wallet afterward)
    great info.

  13. #13
    thechaoz
    2019 SBRs Toughest Poster
    thechaoz's Avatar Become A Pro!
    Join Date: 10-23-09
    Posts: 12,155
    Betpoints: 35902

    Quote Originally Posted by Optional View Post
    If you had ANY Bitcoin (BTC) in your blockchain.info/wallet on 1st August when the fork occurred, then you also own an equivalent amount of BitcoinCash (BCC) now.

    It is not visible inside your Blockchain wallet.

    With the value of BitcoinCash rocketing up over $800 some of you may have a bunch of 'free money' sitting there.


    How To Get Your BCC

    You need a wallet that supports BitcoinCash, and then import your Blockchain wallet across into that new wallet.

    1) You need to empty your current wallet of all bitcoin. For security reasons. The easy way to do this is to signup for a new Blockchain wallet and then transfer all your funds across to it. You should never use the old blockchain wallet for bitcoin again.

    2) If you do not already have your 12 word key phrase written down for the old wallet, then log in and get it from the Security tab on the menu.

    3) Download the ElectronCash wallet from here: http://www.electroncash.org/ (this is a desktop wallet based on the popular Electrum wallet, not an online one)

    4) Run the ElectronCash software and it will ask you to create a new wallet.

    • type in a name or leave it as default_wallet and click next
    • select Standard Wallet and click next
    • select "I already have a seed" and click next
    • enter the 12 word seed phrase from your old blockchain wallet in the box then click OPTIONS.
    • tick the box that says "Bip39 Seed" and click ok. Then click next
    • leave Derivation box as is and click Next
    • You can choose a password to encrypt the wallet (that you have to enter each time you open it) or leave fields blank for no password to open wallet. Then click next.



    You should now see the wallet generate itself and sync with your old blockchain wallet and all your old transactions will appear with the balance you had on 1st August but in BCC instead of BTC.

    If you had $1000 worth of bitcoin in your wallet at the time of the fork on August 1st then you should have around $300 value of BitcoinCash now sitting in your new ElectronCash desktop wallet.


    You can now choose to hold them there in that wallet, or transfer them to a trading exchange like Kraken and sell them for $$ or bitcoin.


    (I'd suggest clicking options and selecting a currency so your wallet gives you a US$ value for your holdings automatically if you plan to use the wallet ongoing. Otherwise just sell your BCC and delete the wallet afterward)
    So you keep the g? (How?) And also make $300?

  14. #14
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,530
    Betpoints: 8683

    Quote Originally Posted by thechaoz View Post

    So you keep the g? (How?) And also make $300?
    Yes, exactly.

    Hard as it may be to believe.

    Think of it like a share bonus issue. Someone gave you one share in BCC for every share you held in BTC when they split. And now those shares are worth 800 bucks each.


    You can do this at any time in the future as long as you hang on to the 12 word seed phrase for any wallets you had at the time of the fork on August 1st.

  15. #15
    evo34
    evo34's Avatar Become A Pro!
    Join Date: 11-09-08
    Posts: 1,032
    Betpoints: 4198

    Thanks for all the info.

    So creating the Electroncash wallet has no impact on your Blockchain wallet, correct? That is, once you follow all of Optional's steps, you end up with two completely independent wallets: one on Blockchain.info with all your BTC and one on your local computer with all of your BCC. Is this accurate?

  16. #16
    evo34
    evo34's Avatar Become A Pro!
    Join Date: 11-09-08
    Posts: 1,032
    Betpoints: 4198

    Quote Originally Posted by craigpb View Post
    Just did this this morning near the current top. Wasn't as complicated as I thought. Also there is now an easier way than Electron Cash.

    After transferring your BTC to a new wallet just as a precaution, follow this guide to setup a BCH wallet and retrieve your hidden BCH from your recovery phrase. Pretty straightforward.

    Once you have your BCH and transaction is confirmed, go to Shapeshift and exchange it for BTC. Send your BCH to Shapeshift and receive new BTC in your new BTC wallet. Once your BTC has been confirmed in Blockchain.info or wherever, you don't have to worry about your new BCH account anymore. Takes about 20 min to exchange on Shapeshift and the fee is too high, but no KYC or another new account and you now have new BTC rather quickly.
    Highest price lately has been around early morning in Eastern US when Asia is trading like crazy.

    Segwit finally impliments on Tuesday so another BTC spike could be incoming.
    Have you verified (or know someone else who has) that the BTC.com import process is legit?

  17. #17
    evo34
    evo34's Avatar Become A Pro!
    Join Date: 11-09-08
    Posts: 1,032
    Betpoints: 4198

    Also, I'm not totally clear on why creating a new Blockchain wallet is more secure than using your existing one?

  18. #18
    lonnie55
    lonnie55's Avatar Become A Pro!
    Join Date: 04-08-16
    Posts: 2,689
    Betpoints: 12267

    Quote Originally Posted by Optional View Post
    You can do this at any time in the future as long as you hang on to the 12 word seed phrase for any wallets you had at the time of the fork on August 1st.
    Really at ANY time? Do you have a reliable source for that?

    If this is true, I would wait until BCC reaches a significant price because at the moment the risk of messing it up is too high for a total Bitcoin noob like me.

  19. #19
    MeanPeopleSuck
    MeanPeopleSuck's Avatar Become A Pro!
    Join Date: 04-29-17
    Posts: 950
    Betpoints: 700

    Quote Originally Posted by gauchojake View Post
    I actually did this the other day with another wallet that support BCC and it worked like a charm. Easy peasy. First book to start taking BCC is gonna be rich bitch!
    To get your BCC into a sportsbook, you don't have to wait for a sportsbook to accept BCC. You can sell your BCC for BTC (or for dollars or whatever) at any exchange right now, today. Then deposit the BTC at any sportsbook.

    The exchanges with the highest prices for BCC are usually Bittrex and Poloniex. Accounts at both are free, easy and anonymous.
    Last edited by MeanPeopleSuck; 08-20-17 at 10:04 AM.

  20. #20
    MeanPeopleSuck
    MeanPeopleSuck's Avatar Become A Pro!
    Join Date: 04-29-17
    Posts: 950
    Betpoints: 700

    Quote Originally Posted by lonnie55 View Post
    Really at ANY time? Do you have a reliable source for that?

    If this is true, I would wait until BCC reaches a significant price because at the moment the risk of messing it up is too high for a total Bitcoin noob like me.
    There has definitely been no time limit yet set for claiming your BCC, but that doesn't mean there never will be (that's up to BCC's foundation), so it's probably safest to claim your BCC sometime in the not too distant future, after you've gotten a bit more seasoned with BTC.

    Besides, until you claim your BCC, you lack one important ability: you can't sell it if its price hits a level you like.

  21. #21
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,530
    Betpoints: 8683

    Quote Originally Posted by evo34 View Post
    Thanks for all the info.

    So creating the Electroncash wallet has no impact on your Blockchain wallet, correct? That is, once you follow all of Optional's steps, you end up with two completely independent wallets: one on Blockchain.info with all your BTC and one on your local computer with all of your BCC. Is this accurate?
    Yes, you end up with two separate wallets... BUT they both use the same master key to sign transactions. So you don't want to use both. You want to empty the bitcoin from the wallet and then use its key to create the BCC wallet.

    Quote Originally Posted by evo34 View Post

    Have you verified (or know someone else who has) that the BTC.com import process is legit?
    Yes I have done it myself and did enough research before hand to satisfy myself this is safe/legit.

    Quote Originally Posted by evo34 View Post
    Also, I'm not totally clear on why creating a new Blockchain wallet is more secure than using your existing one?
    I did not explain as I did not want to add confusion. Here is an explanation from the makers of the Electrum wallet of why you do not want to use the old wallet for bitcoin transactions after exporting it to the ElectronCash BCC wallet https://electrum.org/bcc2.txt

    Basically the software is not technically secure as it isn't signed properly. But it's not really a big issue. It's just a possible back door to get at any bitcoin left in the original wallet. If you ditch the original wallet, which is trivial to change, that's the end of it. Hence me not explaining more originally. Just need to tell people to change wallet.



    Quote Originally Posted by lonnie55 View Post

    Really at ANY time? Do you have a reliable source for that?

    If this is true, I would wait until BCC reaches a significant price because at the moment the risk of messing it up is too high for a total Bitcoin noob like me.
    Yes at any time, even 10 years away. As long as the BitcoinCash arm of the bockchain survives, then you can do the above and collect the BCC you were awarded on 1st August 2017.

    I waited a few weeks to do this for the same reason you are hesitant. To make sure others had tested the system.

    I tried to make the instructions easy for a noob. In fact it is easy if you just follow the step by steps.

  22. #22
    evo34
    evo34's Avatar Become A Pro!
    Join Date: 11-09-08
    Posts: 1,032
    Betpoints: 4198

    Optional -- to clarify, in post #16, I was asking if the BTC.com automatic wallet export tool is legit. craigpb provided the link in post #4. Have you tried that one as well as the process you describe?

  23. #23
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,530
    Betpoints: 8683

    Quote Originally Posted by evo34 View Post
    Optional -- to clarify, in post #16, I was asking if the BTC.com automatic wallet export tool is legit. craigpb provided the link in post #4. Have you tried that one as well as the process you describe?
    Sorry Evo. No idea.

    But if you empty the wallet of bitcoin before doing anything like that, then the only thing you could lose is the BitcoinCash tokens should it be a scam.

  24. #24
    Krashman
    Krashman's Avatar SBR PRO
    Join Date: 07-24-09
    Posts: 3,592
    Betpoints: 27372

    free funny money!

    Thanks Opti!

  25. #25
    craigpb
    craigpb's Avatar SBR PRO
    Join Date: 06-19-08
    Posts: 657
    Betpoints: 7562

    Quote Originally Posted by evo34 View Post
    Have you verified (or know someone else who has) that the BTC.com import process is legit?
    Yes I did my research and found this to be the easiest way, and at $900 there was no reason to procrastinate anymore. It's a legitimate, long-term bitcoin company. Takes a short amount of time and you're done.

    Also unless you believe in BCH over BTC, it would be wise to dump your BCH within the near future. And this pump up to $900 was a good price to dump.

  26. #26
    JAKEPEAVY21
    JAKEPEAVY21's Avatar SBR PRO
    Join Date: 03-11-11
    Posts: 28,126
    Betpoints: 47418

    Quote Originally Posted by The Giant View Post
    I'm so glad I sold all my BCH at about $250.
    sold mine at around $400 then bought some NEO at around $50/per

    was making a lot of good decisions until then but impossible not to have a few duds...gotta roll with the punches

  27. #27
    unluckysob
    unluckysob's Avatar Become A Pro!
    Join Date: 05-21-08
    Posts: 1,525
    Betpoints: 12702

    [QUOTE=jjgold;27156714]Too complicated

    I have small amounts so no biggie

    JJ how are you exchanging money with book? I am still doing stupid **.

  28. #28
    hhsilver
    hhsilver's Avatar SBR PRO
    Join Date: 06-07-07
    Posts: 7,280
    Betpoints: 29802

    Quote Originally Posted by craigpb View Post
    Just did this this morning near the current top. Wasn't as complicated as I thought. Also there is now an easier way than Electron Cash.

    After transferring your BTC to a new wallet just as a precaution, follow this guide to setup a BCH wallet and retrieve your hidden BCH from your recovery phrase. Pretty straightforward.

    Once you have your BCH and transaction is confirmed, go to Shapeshift and exchange it for BTC. Send your BCH to Shapeshift and receive new BTC in your new BTC wallet. Once your BTC has been confirmed in Blockchain.info or wherever, you don't have to worry about your new BCH account anymore. Takes about 20 min to exchange on Shapeshift and the fee is too high, but no KYC or another new account and you now have new BTC rather quickly.
    Highest price lately has been around early morning in Eastern US when Asia is trading like crazy.

    Segwit finally impliments on Tuesday so another BTC spike could be incoming.
    from both post #1 and the quoted post, I should get a new wallet and transfer my BTC to it. The "gift" BCC ( or is it BCH ?) stays in my original wallet until I get it via the other instructions. Question: Is that correct ( so far)?

    Here's a question. My current wallet is at blockchain .info. Can I create a 2nd wallet there and transfer the BTC from my first blockchain.info wallet to the new blockchain.info wallet?

  29. #29
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,530
    Betpoints: 8683

    Quote Originally Posted by hhsilver View Post

    from both post #1 and the quoted post, I should get a new wallet and transfer my BTC to it. The "gift" BCC ( or is it BCH ?) stays in my original wallet until I get it via the other instructions. Question: Is that correct ( so far)?

    Here's a question. My current wallet is at blockchain .info. Can I create a 2nd wallet there and transfer the BTC from my first blockchain.info wallet to the new blockchain.info wallet?
    You do understand correctly. The BCC/BCH (same thing) is connected to that wallet but not visible via the blockchain.info interface.

    And the question is answered in step 1) where it says to do exactly as you say, and just signup for a new Blockchain wallet and send any bitcoins in your old wallet to it before importing the old wallet into the ElectronCash wallet.
    Last edited by Optional; 08-22-17 at 10:52 PM.

  30. #30
    lonnie55
    lonnie55's Avatar Become A Pro!
    Join Date: 04-08-16
    Posts: 2,689
    Betpoints: 12267

    Good news for all blockchain users that are technique noobs like me:

    https://blog.blockchain.com/2017/08/...n-cash-update/

    Seems like the problem solved itself. The strategy of inaction
    Points Awarded:

    Optional gave lonnie55 2 Betpoint(s) for this post.


  31. #31
    craigpb
    craigpb's Avatar SBR PRO
    Join Date: 06-19-08
    Posts: 657
    Betpoints: 7562

    Quote Originally Posted by hhsilver View Post
    from both post #1 and the quoted post, I should get a new wallet and transfer my BTC to it. The "gift" BCC ( or is it BCH ?) stays in my original wallet until I get it via the other instructions. Question: Is that correct ( so far)?

    Here's a question. My current wallet is at blockchain .info. Can I create a 2nd wallet there and transfer the BTC from my first blockchain.info wallet to the new blockchain.info wallet?
    I use blockchain too and just made a totally new blockchain wallet (containing a new recovery phrase), and transferred my BTC/bitcoin to the new wallet. Because you are giving a BCH/bitcoin cash wallet your recovery phrase, this is just a precaution in case something goes wrong. The new wallet disassociates your Bitcoin with your bitcoin cash; they now have 2 different recovery phrases.

  32. #32
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,530
    Betpoints: 8683

    Quote Originally Posted by lonnie55 View Post
    Good news for all blockchain users that are technique noobs like me:

    https://blog.blockchain.com/2017/08/...n-cash-update/

    Seems like the problem solved itself. The strategy of inaction
    Ah good news.

    For people who are happy to wait, they will get their BCH in their Blockchain.info/wallet eventually anyway.

    Only need to export it if you want access to the BCH now.

  33. #33
    hhsilver
    hhsilver's Avatar SBR PRO
    Join Date: 06-07-07
    Posts: 7,280
    Betpoints: 29802

    Thanks, men, for the help/info. Now I understand enough to proceed.

    I see I now have the option of just waiting for blockchain to include BCH.

  34. #34
    italiano
    italiano's Avatar Become A Pro!
    Join Date: 03-11-15
    Posts: 217
    Betpoints: 2609

    it is regarding who have blockchain wallet? who had for example a localbitcoin account can do it?

  35. #35
    craigpb
    craigpb's Avatar SBR PRO
    Join Date: 06-19-08
    Posts: 657
    Betpoints: 7562

    Quote Originally Posted by italiano View Post
    it is regarding who have blockchain wallet? who had for example a localbitcoin account can do it?
    It's any wallet where you have the private key/recovery phrase like Blockchain or a wallet where they let you access your BCH. If you had any bitcoin on Aug 1 in a wallet, you have an equal amount of BCH too. Some just don't let you access it, but maybe will in the future like Coinbase.

    Have no idea about localbitcoins.

    If your wallet doesn't directly show you your BCH, you can go to Blockchair and it will show your BCH on the address from your last transaction before Aug 1. Just copy the address in the search bar.
    Points Awarded:

    Optional gave craigpb 2 Betpoint(s) for this post.


12 Last
Top