Took possession of my BCH using Electrum today: how to
I tried following a guide by Coinomi, but the process failed multiple times. I wouldn't suggest using a Coinomi wallet for this process. Instead, if you already are in possession of your private keys and are using a wallet like Electrum BTC where you have the encrypted file saved on your pc:
- Move all your BTC into a new wallet (you will compromise your pre-fork wallet using this process)
- Download Electrum Cash (warning there are some claims that it isn't open source so I wouldn't suggest you hodl your BCH in this wallet, but I used it for 1x use of)
- In Electrum Cash open your old Electrum BTC encrypted wallet file
- It will ask for your password and you'll use your same password as before. Once the wallet loads it will immediately show the balance you held in this wallet at the time of the fork.
- Transfer your BCH to another wallet or exchange.
- Decide if you'll stay in BCH or convert it to BTC treating this like a 1x BTC dividend :)
Questions?
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