Huobi And Kraken Lists Bitcoin SV And Uses BCH Ticker For Bitcoin Cash ABC
Two of the world’s biggest exchanges have listed the two bitcoin cash forks on their exchanges. This followed shortly after their announcement to list both tokens separately on their various exchanges. Bitcoin Cash ABC is listed as BCH, while the new Bitcoin Satoshi Vision is listed as Bitcoin SV. This became necessary after the hard fork was executed last week.
The Post BCH Hard Fork Era On Huobi
During the announcement preceding the listing, Huobi stated that they would list the Bitcoin Cash ABC as BCH, courtesy of the fact that it’s the longer chain and better established with a history. And Bitcoin SV will be assigned the BSV ticker.
Even more, they stated that the Bitcoin Cash Network had deployed a checkpoint designed to help setup a two-way replay protection. Initial holders of the BCH tokens would also be given Bitcoin SV (BSV) equivalent to the volume they were holding.
So, for every 10 BCH held, users will also receive 10 BSV tokens to match them. The company went on to state that listing the BCH would be done on the 18th of November, with deposits enabled on the 21st of November, while the BSV listing would be on the 19th of November, with deposit services for it available today the 20th.
However, traders would have to wait until the near future to be able to withdraw the funds as the exchange platform hasn’t made any official announcements about when the withdrawal feature will be available to traders of both tokens.
The good news though, is this moratorium will last only till the stability of both chains have been ascertained by the company and other independent bodies.
The Post BCH Hard Fork Era On Kraken
Similar to Huobi’s announcement, Kraken also stated that Bitcoin Cash ABC will be known as BCH, while the Bitcoin Satoshi Vision will be known as BSV on their platform.
In keeping with Huobi’s plan, all legacy BCH holders, will get 1 BSV token for every BCH token that they hold in their wallets on the exchange.
The new Bitcoin SV was been listed on the 18th of November, and will trade against popular fiats and cryptos like the dollar, euro and bitcoin when it becomes fully tradable. So, you can expect trading pairs of BSV/USD, BSV/EUR, and BSV/BTC.
The major bottleneck with trading this on Kraken is that there’s no specified date on which traders can deposit tokens or funds for the pair. Interested traders would just have to wait until the announcement is made.
So, if you’re in a hurry to trade these tokens, you might want to go do so on Huobi as soon as the deposit services go live there.
One of the reasons Kraken hasn’t made the deposit service available for both coins is that it doesn’t meet their platform’s security and safety requirements. So, investors who choose to move forward will be doing as at their own risk.
In fact, the platform advises every one interested in trading that the BSV is a high risk cryptocurrency for now.
Adjustments In The Industry Post BCH Hard Fork
Other exchanges like Binance have already listed and have the cryptos trading on their platforms. Bitcoin Cash ABC is represented by the BCHABC ticker, which the Bitcoin SV is represented by the BCHSV ticker.
Trading already started on the 8th of November with trading pairs made available on the 16th. Intending traders will find the following pairs on the platform: BCHABC/BTC, BCHABC/USDT, BCHSV/BTC, and BCHSV/USDT.