Articles on: Cryptocurrency

Introducing Bitcoin Cash to the Purse Ecosystem

Introducing Bitcoin Cash to the Purse Ecosystem

Bitcoin Cash is a cryptocurrency that was created out of a Bitcoin fork that occurred on August 1, 2017. Bitcoin Cash is an alternative version of the Bitcoin Blockchain that introduces several variations to the code and software that powers it. The Bitcoin Cash network prioritizes upgrades to improve peer-to-peer payments, which keeps fees low. Conversely, the original Bitcoin network prioritizes conservative upgrades, and acts primarily as a store-of-value, like gold. 

Pay with Bitcoin Cash, or Earn By Selling Your Gift Cards

Shoppers can pay for their Purse orders with Bitcoin Cash, learn how by checking out this support article. Earners can also benefit by choosing Bitcoin Cash as a payment method when they fulfill Purse orders from the orderbook. To learn more, check this link.

If you missed the Bitcoin Cash redemption period on Purse (we allowed our customers to withdraw those funds last year), you will be able to spent or withdraw those funds, now. Simply login to your Purse account and you should see the Bitcoin Cash balance you received when the August fork happened. 

Does Purse Support the New CashAddr Format?

Yes, Purse supports the new CashAddr Bitcoin Cash address format. CashAddr is an update that changes how a Bitcoin Cash address look, with the intent of avoiding confusions with the original Bitcoin addresses. CashAddr addresses are unique in that they start with a q instead of a 1. Here's an example of a CashAddr address:

We suggest you to use this new wallet format, as it helps in avoiding confusion betweek the Bitcoin and Bitcoin Cash addresses. You can safely deposit Bitcoin Cash from a legacy Bitcoin Cash address, to this new format. 

I Sent Bitcoin to the Bitcoin Cash Address In My Purse Account, Can You Help Me?

If you sent Bitcoin to your Bitcoin Cash wallet on Purse, or if you sent Bitcoin Cash to your Bitcoin wallet, your funds will be lost forever. That's why we encourage our users to double check before making a deposit or withdrawal to their Purse wallets. If you have sent Bitcoin Cash to an external wallet that was used only for Bitcoin (BTC), you will need to obtain the private keys for that address or wallet and import them into a BCH wallet in order to access those funds. 

I Don't Have Bitcoin Cash or Cryptocurrency, Can I Get Some?

If you don't have Bitcoin Cash or any other cryptocurrency, please check this page to learn how to get some, there are different options for every region of the world. 

I Have Bitcoin and Bitcoin Cash in my wallet. How do I spend BCH?

You may indicate that you'd like to spend BCH balance first when funding an order. Simply update you Account preferences.

Updated on: 06/01/2021

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