Do I need to withdraw my BTC from Coinbase ?
I noticed that many of my friends are still keeping their Bitcoin in Coinbase.
Bitcoin will have a fork in a few days, it's nothing major, just a new alt coin will be born and will be called Bitcoin Cash (similar to what happened with Bitcoin Plus, Bitcoin Dark and few other forks).
The reason why you should move your Bitcoin away from Coinbase is simple.
It's not about security or anything bad with Coinbase, just that they will not support the forked coin, meaning that if your Bitcoin is stored elsewhere, you might benefit from getting the same amount of Bitcoin Cash ...for free.
Make sure it's in a wallet that you own the private keys to.
This is what happens in a case of a fork. You get the same amount of coins on both blockchains.
So, that needs to end the debate about IF or WHY we advise NOT to store your coins on Coinbase during the fork.
Hope that makes it less confusing....
What about having other altcoins? Should we exchange some altcoins we have to BTC to get BTC Cash!?!
might be better to trade as usual, only if you're in profit you can sell but you are guaranteed that you won't get them cheaper later if you sell them at this price now....
Agree with you.. now the prices are getting lower and lower..
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