What happens to GDAX/Coinbase customers who have Bitcoin?
An email from the GDAX team today morning. So if I have my Bitcoin in GDAX, it sounds like I will never see how many BTG I was awarded and will not even be able to transfer it somewhere else? Does that mean I would have effectively lost my BTG till GDAX decides to support it?
Dear GDAX Customer:
We wanted to give customers an update on two upcoming Bitcoin forks – Bitcoin Segwit2x and Bitcoin Gold. You can read more about what a digital currency fork is here and see our prior update here.
We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. This is essential in our mission to make GDAX the most trusted and liquid digital asset exchange.
Bitcoin Segwit2x
The Bitcoin Segwit2x fork is projected to take place on November 16th and will temporarily result in two bitcoin blockchains for some period of time. GDAX will continue referring to the current bitcoin blockchain as Bitcoin (BTC) and the forked blockchain as Bitcoin2x (B2X).
All GDAX customers will be able to trade both Bitcoin (BTC) and Bitcoin2x (B2X) within 4 hours after the fork.
Any customer with a Bitcoin (BTC) balance on GDAX at the time of the fork will be credited with an equal amount of the Bitcoin2X (B2X). No action is required – we will automatically credit your account.
For more information about Bitcoin2x please see our FAQ page and our blog post for a detailed timeline of events.
Bitcoin Gold
The Bitcoin Gold fork occurred on October 23rd. Information about this fork has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time. If the blockchain proves to be secure and valuable, GDAX may choose to support it.
You can read more about Bitcoin Gold at our FAQ page.
Over the coming weeks, we will keep you updated on this event through our blog, status page and twitter.
Thank you,
GDAX Team