Binance And Coinbase Both To Support New Upcoming Bitcoin Cash (BCH) Hard Fork
November 15th will be a significant day for Bitcoin Cash (BCH) as their hard fork comes into play. However, this is not just any upgrade, considering that the developer community still does not have a mutual decision regarding the changes involved.
If both sides of the community follow through, there is a chance that there will be one that ends up going through as the predominant side. The other side would end up needing to get more hash rate support.
The leading exchanges, Binance and Coinbase, have made recent posts on the website in support of the websites. As the hard fork approaches, the continued publicity around the upgrade has elicited a 13.5% price increase for BCH last night. Presently, as of 12:50pm PST, Bitcoin Cash is priced at $563.25, and has increased by 17.26% in the last 24 hours.
In a blog post, Binance confirmed their support for the Bitcoin Cash hard fork. They added,
“Deposits and withdrawals of Bitcoin Cash will be suspended starting from 2018/11/15 3:00:00 PM (UTC). Please leave sufficient time for deposits to be processed in full prior to this time. We will handle all technical requirements involved for all users holding Bitcoin Cash in their Binance accounts.”
At Coinbase, investors found a much more elaborated explanation of the support they would provide to the form. After explaining that the Bitcoin Cash network performs these hard forks twice a year, they specifically noted that they would be supporting the “published roadmap” from the website. Elaborating, they said that, due to the competition, they will be watching the process and working to “minimize customer disruption” until the desired security standards are met.
Much like Binance, Coinbase is also suspending deposits and withdrawals,
“beginning at 8:00AM PST on 11/15/2018 (approximately 1 hour before the fork). Please be sure all BCH sends and receives are completed prior to that time. During the pause, your BCH will remain safely at Coinbase.”
Coinbase noted that they will support both chains, in the event that both make it through the fork. However, Binance has not echoed the sentiment, and have refrained from commenting on that potential situation at all.