Bitcoin cash…It’s Official

It’s official… Bitcoin Cash just mined its first block meaning the chain has now split from Bitcoin! Amid fears over what the fork would mean for the price of Bitcoin it seems to have stayed fairly strong and well above the £2,000 price writhin the first 10 hours, although only time will tell the true outcome for Bitcoin and Bitcoin Cash.

How to claim your Bitcoin Cash

If you planned ahead and moved your Bitcoins’ into a paper wallet, hardware wallet or exchange which said they would support Bitcoin Cash immediately then there a a few steps to take at this point. Firstly if your Bitcoins were in an online exchange like Bittrex, who would be supporting Bitcoin-Cash immediately then you should have the Bitcoin-Cash there matching the exact number of Bitcoin you had before the split. If however you went for the safe option of moving your Bitcoins to a paper wallet or hardware wallet then in order to get your Bitcoin Cash you will need to import your private keys into a wallet which supports Bitcoin Cash, unfortunately at this point in time not a great deal of wallets are supporting Bitcoin-Cash and while there are a few be advised that it can be risky.
If you are looking to cash in the Bitcoin-Cash at the earliest opportunity do so with caution. Uploading your private keys to redeem your Bitcoin-Cash could make them accessible to others meaning they could steal both your Bitcoins and your Bitcoin-Cash.

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By | 2017-10-22T19:38:47+00:00 August 1st, 2017|News|0 Comments

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