HARD FORKING FOR DUMMIES🎩🎩🎩🎩
As bitcoin hard fork preparation is at the corner there are two pointers I want to stressed to all bitcoin holders
This pointers will guide you through how to protect your bitcoin during the fork and also have access to bitcoin cash after the fork has been resolved
It is certain that hard fork is happening August 1st. This fork created bitcoin cash which is the new different coin than the current bitcoin network. This should not raised alarm or sense of panic thinking your coins will not just evaporate into thin air. You will definitely have ways to control the outcome of this fork no matter what happens.
Below are the pointer that will help you.
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Point 1: Get your private keys
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Never keep your coins on a custodial wallet which will ensure you will have access to your bitcoin after the fork has been resolved. Your coins must be stored in a wallet where you keep the private keys.
Advantage of private keys
After the fork, your private key possessing create access to bitcoin cash but the amount you can control will be the equivalent bitcoin amount you had the keys to at the time of the fork.
On the order hand if you do not have the keys the web wallet controller will make decisions for you whether to credit you with the new bitcoin cash.
You can also place your coins at an exchange that'll support bitcoin cash it is certain they will credit your account with the same amount of BCC.
Pointers 2: Never transfer bitcoin during or immediately after the fork
Bitcoin investor or holder would not send or receive coins during or directly following the fork. At least you need to wait for 3days after the fork.
How to get bitcoin. Cash on blockchain and breadwallet
Breadwallet
Sequel to the plan breadwallet have on ground users should not confuse themselves about how they will obtain there BCC after fork. The plan that breadwallet have is to develop a new wallet application for bitcoin cash. Through this the users will have to access this via there seed code from there initial / original wallet with the new one in other to access there bitcoin cash (BCC).
# **Blockchain**
On the other hand blockchain.info you must first make certain you generate your private keys on your settings page which is usually 12 word seed phrase. This will make the blockchain users to retains access to there funds or coins after the fork. From the information gathered blockchai.info not yet provided details information on how they plan on supporting BCC.
From the information gathered blockchain.info could still opt not to develop application to access there bitcoin cash and if this happen it means the users would have to extract the keys I mean private keys later gain access to their coins via another wallet that supports bitcoin cash.
Follow this processes and be safe.
Thank you! It's good to note that many exchanges aren't supporting the fork, so GET OFF THE EXCHANGES. Coinbase has already announced that they will not be supporting BCC, so users will not be able to access their BCC after the hardfork unless they move BTC to their own wallet.
I think most of them will still support later.
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