This is a compiled in-depth look at the BitCash Wallet by JiuCrypto.
As promised — here is my first in-depth thread for $BITC @ChooseBitCash, a micro cap cryptocurrency that is trying to take user-friendliness and useful functions to the extreme.
In this first thread I try give an impression of the wallet in user experience and functionality.
As you can see there are many types of wallets available. This can not be taken for granted, especially for a micro cap coin. EVERY wallet I tried worked ABSOLUTELY decent without ANY issues. Many other projects are even struggling to provide a running and syncing GUI.
I take the WIN wallet as an example here. After downloading and installing the wallet a pop up appears. It asks you if you want to download the bootstrap file. After few minutes max the download is finished. After that the wallet only needs to sync a tiny bit.
THIS MEANS: It is LESS THAN TEN MINUTES from the dowload to a fully synced wallet. And you don’t have to dig through forums or discord channels for a bootstrap. Remember how often you spent hours and days for syncing other projects’ wallets? NOT HERE!
After downloading the wallet you should encrypt it and back it up for security reasons like every other crypto wallet.
However, there is another basic step you can do if you like: Register a NICKNAME for your address.
After that, people can send you to your nickname!
Another thing that you will see at first glance is that the wallet has a built-in miner. There are some hardware requirements but if you meet them you can DIRECTLY start mining and generating coins from your wallet. An in-wallet miner pushes decentralization. Smart!
In the overview section of the wallet you can see your holdings. But not only that: You can also see your Bitcash dollars / gold assets. And you can find buttons that lead you to the transaction page where you can convert into Bitcash dollar or gold and back.
I don’t want to go too deep into economics in this thread as these will get an extra thread soon.
Keeping it simple: You can convert your into their current USD or gold value for stability reasons or if you expect falling prices.
Of course you can also convert your Bitcash dollars or Bitcash gold back into whenever you want. For example when you consider undervalued and expect rising prices. Interesting: There even is an “automated trade function”.
You can set it to convert into Bitcash dollar once a certain price was hit for BITC. This makes it possible to secure your USD value e.g. after a huge pump when you expect a retrace. When you convert it back into at lower prices you will get MORE BITC.
The automated trade function also allows you to be “on the sidelines” with your Bitcash dollars or gold and wait for a strong pricedrop in $BITC. Once a certain price has been hit your Bitcash dollars and gold also converted into $BITC.
Let’s have a closer look at the send tab. It doesn’t only allow you to send — it also allows you to send Bitcash dollar or Bitcash gold. Furthermore you can convert assets while sending, for example send to a someone’s Bitcash dollar address.
It’s not only possible to send assets to $BITC, Bitcash Dollar and Bitcash gold addresses. You can also send it directly to someone’s
- Twitter handle
- Instagram or
or you can create a link by which everyone can claim their $BITC (or other asset).
A nice gimmick is that you can create or Bitcash dollar “bills” that contain a QR code. This allows the receiver to redeem the asset.
If someone without a wallet receives or an asset via another channel they’ll always also find downloadable wallets in the link.
This is what the receive tab looks like. It allows you to give people your address or alias for each of the available asstets when you want to receive payments. As a merchant you could consider only accepting Bitcash dollar or gold if crypto volatilty is too high for you.
One more function that I’d like to mention is a small in-wallet exchange. It uses the 3rd party @InstaSwap_io and allows you to exchange for BTC and back.
If your wallet is outdated a popup asks you to upgrade.
Overall it offers even more functions but I showed you the ones I find most important. Something I have noticed wherever I’ve looked: EVERY DETAIL in $BITC is made with exceptional love, perfectionism and thoroughness.
There are still some small ideas / wishes that I have for the future and I am confident that will realize them sooner or later: As BITC wants to take user-friendliness to a new level also for very NEW users another popup once a new wallet is installed would make sense.
It should remind users to encrypt the wallet and back it up and contain links for explanations why this is important. People are not yet familiar with the responsibility that comes with decentralizaton. New users need a small guide.
Also, so far the spread of the prices that let you cnovert into Bitcash dollar and back is really big. Too big to be of too much practical use. I hope that it will be possible to find a solution to reduce it.
It would also be cool if more assets like Bitcash Euro, CNY and silver could be added (especially since gold hat quite a run lately and might or might not se a retrace sooner or later) and the autmated trading function would also be enabled for those.
Overall I have to say that I was literally OVERWHELMED by how OUTSTANDIG the wallet is in user-friendliness and functionality. They kept building through the bear market and they built a MONSTER!
With under 400k mcap BITC still has a tiny market cap.
Looking at the consistency of the development and the quality of the output I consider the project HIGHLY undervalued. At time of writing the price per unit is 0.015–0.02 USD. I don’t want to throw around targets. Better think for yourself what potential you see in .
For full transparency: I get a mid four digit amount of as a small monthly compensation for my “ambassador role”.
My next in depth-thread will be about the economics of the ecosystem and will be published around mid May!
Try! You’ll love it!
BitCash Official Links:
Website — https://www.choosebitcash.com/ and https://www.peerq.com/
Discord — https://discordapp.com/invite/7P4YcXU
Twitter — https://twitter.com/ChooseBitCash
Bitcointalk ANN — https://bitcointalk.org/index.php?topic=5106123.0
Telegram — https://t.me/chooseBitCash
Reddit — https://www.reddit.com/r/BitCashCoin/