Crypto Exchanges Line Up to Support Bitcoin Cash's Hard Fork

[Pegasus]

Six of the top 10 crypto exchanges by bitcoin cash (BCH) trading volume have announced plans to support the cryptocurrency's upcoming hard fork on Nov. 15.

Bitcoin cash's roadmap includes upgrades to its core code every six months, but disagreement over some changes to the network have raised the specter that two distinct branches of the cryptocurrency could take shape, given that two implementations – Bitcoin ABC and Bitcoin SV – are being put forward by competing teams. While the outcome isn't clear, one scenario would see two separate cryptocurrencies arise from the fork.

As users will automatically receive an equal amount of the new coin to the amount held in BCH, it is important that their exchange is prepared for the event and will later allocate the new tokens.

A number of exchanges have now made clear their positions should a split occur, with OKEx, Binance, Bitforex and Huobi having all stated that they will "support the hard fork." Poloniex, a rank 51 exchange for BCH, stated more explicitly that it is "prepared to support trading markets for both tokens."

Coinbase was more reserved, saying it will support the current roadmap, but it added:

"In the unlikely event that multiple viable chains persist after the fork, Coinbase will ensure that customers have access to their funds on each chain."

In preparation for the event, most exchanges have said they will suspend bitcoin cash withdrawals and deposits soon before the fork to ensure customer funds are not at risk due to instability of the post-fork network(s). Users should take care not to deposit BCH during this period in such cases.

And it's not only exchanges that are having to take decisions over the potential creation of a new coin. France-based hardware wallet maker Ledger has said that, if the fork results in separate bitcoin cash blockchains, "eventually, one of these would be the dominant chain, which we will evaluate to support again then."

It's worth noting that Bitmex recently launched a fork monitor for bitcoin and bitcoin cash. The BCH hard fork is set to go occur on Nov. 15 at around 17:00 UTC.

Here's the current status of the top 12 BCH markets on CoinMarketCap regarding the hard fork at press time:

OKEx – support confirmed
BitForex – support confirmed
Binance – support confirmed
Digifinex – no statement
Huobi – support confirmed
Bitfinex – no statement
Upbit – support confirmed
HitBTC – no statement
Coinbase Pro – support confirmed
Bitbank – not confirmed
Coinsuper – support confirmed
GDAC – no statement

Wallets

Ledger – review confirmed

Source

[dragononcrypto]

Latest news... pre-fork trading!
Also see bch hard fork videos x5: https://www.altcoinstalks.com/index.php?topic=70861.0

From: https://www.coindesk.com/crypto-exchange-poloniex-announces-pre-fork-trading-for-bitcoin-cash-split/

Crypto Exchange Poloniex Announces 'Pre-Fork' Trading for Bitcoin Cash

Poloniex announced Tuesday it will be the first cryptocurrency exchange to offer trading for the pending bitcoin cash (BCH) hard fork amid an ongoing debate over the technology's roadmap.

Starting Wednesday night, Poloniex, operated by Goldman Sachs-backed startup Circle, revealed it will begin offering customers the option to buy bitcoin cash ABC (BCHABC) and bitcoin cash SV (BCHSV) trading tokens.

This is the first time Poloniex has offered trading pairs for a crypto asset prior to a possible fork, a move it says is part of a wider strategy to increase the company's customer experience, according to a company blog post.

The post reads:

We're doing this to empower customers to demonstrate their support for one coin over the other through trading activity. Poloniex will also support trading markets for both tokens after the hard fork.

In the message, the exchange stressed its intention to remain neutral during the split in order to allow the community to decide which blockchain it will support, demonstrated through advanced trading activity. It also stated that it would be evaluating each hard fork individually to decide whether to support the fork or continue pre-fork trading.

Pre-fork trading has been made available for USDC/BCHSV and USDC/BCHABC as well as bitcoin trading pairs.

Customers will also be able to convert their BCH into an equivalent amount of BCHABC and BCHSV and vice versa if they wish to withdraw funds, but they will not be able to withdraw BCHABC and BCHSV ahead of the fork.

The exchange plans to continue supporting trading for both bitcoin cash ABC and SV after the planned fork on Nov. 15.

Overall, the news comes during what has been a slower trading day for the crypto asset, one that has surged of late on the news traders may be able to receive additional tokens through the creation of a competing blockchain, should the blockchain's users continue to support both versions of the technology.

At press time, the price of bitcoin cash is down 0.81 percent on the day.