✳️ “Bitcoin Cash” (BCH) - - how does this affect Kraken? 🤔 🤔 🤔 🤔
Is your Bitcoin save on the Kraken exchange? 🤔
Here is an email I received from the Kraken Team with news about your Bitcoin during the time of the fork. ✂️
Greetings,
We have posted an important announcement on our blog about the “Bitcoin Cash” (BCH) hard fork that will happen on August 1. Everyone should read the complete post, but here are a few highlights from the post:
Kraken plans to support BCH on our platform for funding and trading in the pairs BCH/XBT, BCH/USD, BCH/EUR.
Clients holding Bitcoin (XBT) balances at the time of the fork will be credited with an equal amount of Bitcoin Cash (BCH) - e.g. 1 XBT will result in 1 XBT + 1 BCH.
Clients borrowing Bitcoin (XBT) for margin positions at the time of the fork will be debited an equal amount of Bitcoin Cash (BCH) - e.g. if you borrow 1 XBT you must pay back 1 XBT + 1 BCH.
Margin traders should read the blog post carefully to understand the added risk and how margin trading will work across the fork.
The BCH fork is planned for 12:20 pm UTC on August 1
Bitcoin (XBT) funding will be halted at 11 am UTC and resumed sometime after the fork when it is safe to do so.
Trading will continue across the fork, but we may need to halt trading briefly around the time of the fork so we can adjust balances and add pairs.
Thank you for choosing Kraken, the trusted and secure digital assets exchange.
The Kraken Team
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YOU GUYS ARE THE BOMB!! 💣💥 thx for stopping by!
The future of blogging looks PRETTY SICK if you ask me.🔥
It's nice to see that some of the major exchanges are supporting it! I guess the other exchanges like coinbase who are not supporting it will just keep all the Bitcoin cash which they easily could claim because they have the private keys from all the coins stored on their platform.... As soon as they have claimed it, they will dump it on the market I guess ;-)
Yeah, I was surprised that coinbase is not supporting it.
Hopefully this induces a short squeeze due to traders not wanting to pay back the additional BCH tokens on their loans
I do not know too much about loans, but hope this info helps. :)
All the companies are sharing their strategy which they will follow after 1st August. Similar thing I have shared about Unocoin - India's Bit coin Wallet. You can read it here https://steemit.com/cryptocurrency/@codingdefined/indian-bitcoin-wallet-unocoin-has-an-update-for-you
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