CoinSpot Will Support the Bitcoin Cash (BCH) Hard Fork

The Bitcoin Cash (BCH) hard fork is scheduled to occur at approximately 15/11/2020 11:00 PM (AEDT). This may result in a chain split between the two BCH clients, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN). This means it is a contentious hard fork that may result in a new Bitcoin Cash token. 

There are no guarantees that CoinSpot will support the new Bitcoin Cash token, should one be created. If you want to guarantee that you receive any new token, please ensure that you send your Bitcoin Cash (BCH) to your own external wallet.

CoinSpot will suspend Bitcoin Cash (BCH) deposits and withdrawals on 15/11/2020.

Please ensure that you leave sufficient time for your Bitcoin Cash (BCH) transfers to be processed.

There are two scenarios that will likely occur due to the fork

Scenario A: The two chains will compete and CoinSpot will credit users with Bitcoin Cash (BCH) from the chain with the most work done.

We will then also credit users with the coin from the minority chain at a ratio of 1:1 based on the snapshot of Bitcoin Cash (BCH) balances at 15/11/2020 11:00 PM (AEDT) as stated above. 

Scenario B: No new coin is created. CoinSpot will then resume Bitcoin Cash (BCH) deposits and withdrawals as soon as possible once the fork has completed.

Currently BCHN has the vast majority support, if this continues, we will treat the BCHN chain as the future BCH chain. 

If further information becomes available regarding the Bitcoin Cash (BCH) hard fork, CoinSpot will update members accordingly.

Need more help?

Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new

or start a conversation with us via Live Chat and our team will provide full instructions and advice.