Kraken Supporting "Bitcoin Cash" - Just Announced
Just received this email from Kraken.
Hi Garth,
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
This is good news for Kraken users. If you have Bitcoin on Kraken, they will be supporting the new "Bitcoin Cash" coin. There will be a trading halt for a limited time. If you are concerned withdraw your Bitcoin to a private wallet.
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