How to Store Bitcoin SV (BSV)? A Complete Guide

Storing your cryptocurrencies properly is an important part of your crypto experience. For those of you looking for storage options for Bitcoin SV (BSV), you’ve come to the right place!

In this article, we’ll take a closer look at some crypto wallets for you to consider for storing your Bitcoin SV (BSV).

New to crypto? Start with our crypto 101 guide.

How to Store Bitcoin SV?

To ensure that any wallet you use supports Bitcoin SV, it must explicitly state that it is a Bitcoin SV (BSV) wallet.

• Never attempt to receive Bitcoin SV coins to a Bitcoin Cash or Bitcoin (BTC) wallet.
• In the event that BSV coins are sent to a non-BSV wallet, they may be recoverable. However, coins may also be lost and become irrecoverable.
• Hardware Wallets Which Support Bitcoin SV.

Using a hardware wallet is the safest way to store any cryptocurrency. Sadly, leading hardware wallet brands like Nano Ledger and Trezor do not currently support Bitcoin SV.

Though, support is expected to be announced shortly. One hardware wallet which does support Bitcoin SV is new to market hardware wallet Keevo.

Bitcoin SV vs. Bitcoin

If you are new to cryptocurrency, understanding the differences between Bitcoin SV, Bitcoin, and Bitcoin Cash can be confusing.

Some new to market investors assume that all three coins are one and the same. This can cause problems when new investors try to send Bitcoin SV coins to a non-BSV wallet.

Learn more about their differences: Read our comparison guide between BTC and BSV.

Bitcoin SV (BSV) Wallets

Bitcoin SV, just like any other crypto asset, is stored in a crypto wallet. There are a variety of crypto wallets options out there to store your BSV asset, which we’ll highligh below for your consideration.

Hardware wallet

Hardware wallets, or cold wallets, are arguably the most secure option to store your crypto assets. However, as mentioned above, options for crypto wallets that support BSV are limited as of this writing.

One option that is available is Keevo, a hardware wallet created by San Francisco based company, BitKey Bank, Inc.

Like other hardware wallets, Keevo devices can be used to store several top market cap cryptocurrencies like Bitcoin, Litecoin, and Ethereum.

At present, though, Keevo is also the only hardware wallet to offer out of the box support for Bitcoin SV.

Software wallets

Software wallets, or hot wallets, are an excellent alternative to storing your crypto assets. Hot wallets take the form of downloadable apps on your mobile phone, tablet, or computers and emphasize accessibility and ease-of-use for the users wanting to store their crypto, including Bitcoin SV.

App wallets which currently support Bitcoin SV include:

• Coinomi
• Centbee
• Handcash
• Atomic* (see below)

Update: As of June 5th, 2023 Atomic Wallet has experienced a security hack that compromised over $35 million in assets. We recommend you take precaution and consider other options for storing your cryptocurrencies.

Desktop Wallets

Desktop app wallets are comparable in security to software hot wallets mentioned above.

Users simply benefit from a more intuitive user interface and (in some cases) a wider variety of supported altcoins.

At present, desktop app wallets which support Bitcoin SV include:

• Coinomi (For Desktop)
• Exodus
• Electrum SV

Bitcoin SV best safety practices

Most hardware, app, and desktop cryptocurrency wallets default to a Bitcoin (BTC) wallet address when first set up by wallet users.

In the case of Bitcoin SV, it is, therefore, important to manually create a new Bitcoin SV wallet addresses. This can be done quickly by selecting ‘add coins’ within app and web wallet dashboards.

When setting up a new Bitcoin SV wallet, users should also make sure to backup wallets by generating a 12-word security passphrase. This should then be printed and stored safely, in case of an emergency.

Read more: Explore all things crypto security in our hub.