The new Bitcoin Cash wallet will let you store and withdraw up to $500,000 in Bitcoin at once, without touching your smartphone.
The move is a direct response to the collapse of Bitcoin Cash, which crashed in price on September 9 amid concerns it was susceptible to a hack by Chinese state-sponsored hackers.
In response, Bitcoin developers began to develop a new digital wallet for Bitcoin Cash.
The new wallet will allow users to store their Bitcoins without a phone or bank account, and it’s designed to be used with a smartphone or a tablet.
In a video released Tuesday, the developers say they’ve already tested the new wallet, which has received over 100,000 downloads and will launch on September 17.
It can only be used by people who have Bitcoin Cash and who have a Bitcoin wallet that is at least two years old, but developers are planning to open up the service to anyone with a Bitcoin Cash Bitcoin Cash Wallet for iOS and Android devices.
It will also offer a way to store your Bitcoins on the device, and Bitcoin Cash will be used for payment on Coinbase.com, a popular online exchange that has a virtual currency exchange, and will eventually allow users who already have Bitcoin to transfer their funds into Bitcoin Cash without any additional setup.
Users can download the new Bitcoin Wallet for free on the Apple App Store and Google Play, or they can upgrade to the $1,000 Bitcoin Cash Classic wallet if they want to avoid the new fees.
Users will be able to buy and sell Bitcoin Cash with their Android phone and iPad, and they’ll be able send their Bitcoin Cash to other people’s phones and tablets as well.
Users of the new version of the Bitcoin Cash app will be limited to 500 transactions per day, and users will be given the option to have their Bitcoin cash deposited into the Coinbase Wallet for Bitcoin, or a Bitcoin cash-only wallet if there are no other Bitcoin Cash wallets to use.
The Bitcoin Cash team plans to make the wallet available to the public as soon as it’s ready.