Bitfinex Announces Bitcoin Cash (BCH) Token Distribution
On July 27 2017 Bitfinex announced that they will distribute Bitcoin Cash to all account holders holding bitcoin at the time of the forking on 1 August 2017. All Bitcoin addresses holding a balance will automatically have equivalent balances in Bitcoin Cash.
The token distribution methodology will be:
• All BTC wallet balances will receive BCH
• Margin longs in BTC/USD and margin shorts in XXX/BTC will not receive BCH
• Margin shorts in BTC/USD and margin longs in XXX/BTC will not pay BCH
• BTC Lenders will receive BCH
Bitcoins held on Bitfinex appears to be safe and the forking will not affect any bitcoin balances, positions, or loans. All bitcoin holders will simply be receiving an additional token balance.
The main gripe I have about Bitfinex is the processing time required for withdrawal completion but it is decisions like these that make Bitfinex one of the exchanges to consider as your trading platform.
If you know off other exchanges that will also distribute free cash to its account holder let me know below.
For more on Bitfinex’s announcement read here.
You have create a great article bro , good topic , i wish you all the best :)
Thank you for your comment, I appreciate it very much.
Very good information. I have some Iotas in Bitfinex. But I prefer keep the private keys of my BTC. It is the same spreadsheet, always I will have my BTC Cash when i wants. Who nows the best choice?
Glad to see more exchanges offering BCH support - instead of essentially keeping it for themselves.
Really surprised Coinbase / GDAX has stuck by their decision to not support BCH considering how many exchanges are offering it now.
All this increased liquidity will certainly make August 1st a wild ride though. 😅
Great post though - up-voted & followed!
Makes sense for the exchanges because they also get free money as well because they also hold a pool of bitcoins and by allowing trades in BCH they will also profit from doing so.
That good, how about Bittrex and Xapo? Thanks @marcusxman
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