Preparing for August 1 hard fork: how to claim your free Bitcoin Cash
Bitcoin Cash (aka BCC or BTCC or BCH) is launching soon. The new token will have a common history with the current bitcoin chain, and after dividing the block into two chains, all bitcoin holders have the opportunity to get the corresponding number of Bitcoin Cash coins. However, lots of exchanges and wallets declared that will not support it: Bisq (Bitsquare), Bitstamp, Gemini, GDAX and itBit exchanges, as well as BitPay / Copay, Coinbase, Electrum and Exodus wallets. Others declared that they are ready to offer their users the opportunity to get new coins or, in the case of exchanges, even listing them for trading under certain conditions.
Exchanges
There are ready to start trading of Bitcoin Cash such exchanges as Bihumb, Bittrex, Korbit, Kraken, Livecoin, Okex and ViaBTC. Other exchanges like Bitfinex, BTCC, CEX.io, Huobi, Kuna, Liqui and WAVES DEX will closely monitor the development of the situation and will decide later. whether to list Bitcoin Cash.
At the same time, the largest exchange, Poloniex, didn't decided yet: "At this time, we cannot commit to supporting any specific blockchain that may emerge if there is a blockchain split".
Here I made the list of the most well-known exchanges and exchange services and their position in relation to possible hardfork:
Wallets
Some popular wallets declared that won't support Bitcoin Cash: as BitPay / Copay, Breadwallet, Coinbase, Electrum, Exodus, Green Address and Samourai Wallet.
At the same time, Airbitz, Coinomi, Freewallet, Jaxx and XAPO stated that after the hard-cort, all users will automatically receive an equivalent number of Bitcoin Cash coins. Moreover, Coinomi and XAPO also made it clear that in the future they intend to give preference to a chain that will have a higher hashed. Airbitz did not take a clear position on this issue.
Hardware wallets like Ledger, Trezor and KeepKey are ready to offer users an interface to redeem (divide) Bitcoin Cash coins, after which it will be possible to use Bitcoin and Bitcoin Cash in parallel.
One of the most popular online bitcoin-wallets, blockchain.info, didn't published any official statements yet. Also Armory is silent.
Using a wallet which doesn't support Bitcoin cash
If you control your private keys (for example, Electrum gives such a possibility), after the hard-fork you'll still be able to get your Bitcoin Cash coins. Here's the instruction:
- After 12:20 UTC wait at least for the first block of Bitcoin Cash, then send all of your BTC to a totally new wallet (not address) and wait until this gets 30 confirmations.
- Import your private keys from the wallet you already transferred the funds into a BCH wallet.
You should transfer all your BTC to another wallet first to be sure that in case BCH wallet leaks your keys you'll not lose your BTC. Bitcoin Cash has replay protection, but in case it's still replayed, the destination wallet should also be under your control. As some Bitcoin Cash wallets could use the same data (as Electrum Cash), it's recommended to install it on a separate computer (or virtual machine).
If the wallet you use doesn't support Bitcoin Cash and you don't control your private key make sure to transfer your bitcoin to another wallet or exchange which supports it before August 1 at 12:20 UTC. It's highly recommended to control your private keys and not to keep much of your funds on exchanges.
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nice info
hi there ive seen u used randowhale @2sbd
there is an update and its on 1sbd now
Oh, thanks for the info! I was wondering why it always gives back less than paid.
yah a big savings =D
This post received a 2.2% upvote from @randowhale thanks to @faithykins! For more information, click here!
UPDATE: Bitcoin Cash fork activation will not occur at exactly 12:20 UTC, but some time shortly after (about 6 blocks after 12:20 UTC): https://www.bitcoincash.org/activation
Well, this is good information. Just to add; if you do not have total control over your keys. chances are you can lose your coins anytime. A good wallet should give you total control of your balance and transactions; void third party hosts. Awesome info!
Bittrex Not Only Will Award Users With BCC but It Also Has A Great Reputation (Unlike Poloniex) :)
Thanks for Share. upvotes & like your post!
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STOPThis post received a 3.2% upvote from @randowhale thanks to @bcn! For more information, click here!
This post has received a 1.90 % upvote from @booster thanks to: @bcn.
Now we are past the fork, please can you give us an update on which wallets can support BCash, and how to create a separate account for BTC and BCC. The exchanges are easier to figure out but would be helpful to update as well. I looked into Blockchain.info which I didn't find very helpful.
"In the event of two separate blockchains after August 1, 2017 we will support the longest chain. As of today, we have no immediate plans to fully support the Bitcoin Cash fork within our main product. But, if BCC develops into an actual chain and market, you will be able to use your recovery phrase to export your funds and use them on that chain, regardless of whether or not Blockchain chooses to support it."
Source: https://blog.blockchain.com/
OK so what do we do now?