Top Cryptocurrency Exchanges Announce Upcoming Bitcoin Cash (BCH) Hard Fork Plans

The cryptocurrency market and ecosystem are getting prepared for the upcoming Bitcoin Cash (BCH) hard fork scheduled for Nov. 15. Six of the most important crypto exchanges in the market have already announced their plans to support BCH’s hard fork.

There were some disagreements between Bitcoin Cash supporters about how to improve the network. This is why there are currently two different branches of Bitcoin Cash that will implement different solutions. One is known as Bitcoin ABC, supported by the cryptocurrency mining company Bitmain, and the other is known as Bitcoin SV, which is backed by Craig Wright.

At the moment of writing, there is no clear outcome about which will be the dominant network. However, there are slight more possibilities for the Bitcoin ABC to receive the biggest support from the community.

In order to help users experience a smooth Bitcoin Cash upgrade, several exchanges decided to clear their positions about how to handle BCH funds during the chain split. OKEx, Binance, Bitforex and Huobi announced that they will be supporting the hard fork. Poloniex, instead, said that they are prepared to support both tokens. Coinbase has also stated that they will allow users to have access to their funds on each chain.

Furthermore, it is important to mark that exchanges will be suspending Bitcoin Cash withdrawals and deposits before and after the fork to ensure that the funds are not at risk. None of the networks has replay protection, something that could harm several users.

Ledger and Trezor informed their users that they will also be working in order to protect users. Ledger said that one of the chains will become dominant and they will be supporting it. Trezor, instead, said that their servers run on Bitcoin ABC.

BitMEX Research has also launched a fork monitor for Bitcoin and Bitcoin Cash, something that will allow interested users to understand what is going on on both networks.

There are some exchanges such as HitBTC, GDAC, Bitfinex and Digifinex that did not release a statement on the matter. OKEx,BitForex, Binance, Huobi, Upbit, Coinbase Pro, and Coinsuper have already mentioned that they will be supporting the hard fork. Bitbank did not confirm whether it will support the upgrade or not.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

US Army Investigative Unit Calls For A ‘Ready' Web-Based Crypto Tracking Application

The U.S Army is looking for a web-based application to help investigate cryptocurrency transactions and transfers, helping in cybercrime investigations. The Investigative Unit of...

Zcash Counts Down to Major Upgrade to increase Privacy and Efficiency

In less than two days, Zcash will have its fourth major network upgrade called Heartwood. This upgrade will be activated at block 903000, which...

Polkadot Holders Votes Could Scale DOT Token Supply by 1000x; A 100x Increase Leads the Polls

The Polkadot community can now vote on a redenomination proposal for its platform’s native token, DOT, which is set to see its supply increase....

South Korea May Classify Crypto As Goods, Not Currencies; Tacking On A 20% Capital Gains Tax

South Korea aims at introducing a capital gain on crypto assets that could be as high as 20% as the National Assembly looks at...

Bitcoin’s New Found Correlation Puts it in Danger

Bitcoin is back to hovering around $9,200 and in red as it continues to follow the S&P 500 but only to the downside. The Dow...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today