Kraken supporting Bitcoin Cash
In the latest update shared by Kraken exchange regarding the potential split of Bitcoin blockchain and support of Bitcoin Cash
few highlights :
---> 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.
Well written
I moved my bitcoin from kraken to bittrex about two hours before this was announced. I just got the email from kraken that they'll support the fork.
It sounds like each exchange will handle it a little differently especially regarding short positions and margin traders. I think I read somewhere that bittrex won't automatically assign short positions in the new bitcoin cash to people who are short bitcoin going into the fork while kraken will. I just have a small long position (no Margin for me ) so I'll just take what I'm given and be happy with it.
That actually answered a lot of questions. Thank you for posting this. GL