BTCC Bitcoin Exchange Chain Split Coins – 1MB vs 2MB Trading?
Following the example set by highly popular trading platform Bitfinex, Hong Kong-based cryptocurrency exchange BTCC has recently announced the introduction of a new feature called ‘Chain Split Coins’ in a similar fashion to Bitfinex’s ‘Chain Split Tokens”.
BTCC has introduced four new trading pairs on their exchange platform: 1MB/BTC, 2MB/BTC, 1MB/USD, and 2MB/USD. Both the 1MB and 2MB trading units will allow BTCC exchange users to speculate on the potential value of the coins that will be created as a result of the SegWit2x activation.
The 1MB coin is equivalent to the post-fork one megabyte base blocksize coin, while the 2MB coin is equivalent to the post-fork two megabyte based blocksize coin. These trading units will allow BTCC exchange users to trade on the potential value of the coins that will be created after the activation of a fork, such as the impending SegWit2x fork.
BTCC users will be able to obtain the 1MB and 2MB coins by depositing Bitcoin into their BTCC DAX or USD accounts, and then using the account overview page to split the deposited BTC into 1MB and 2MB coins. One BTC will be equivalent to two 2MB coins and one 1MB coin. Reversing this process is also possible via the BTCC account overview page.