Sunday, February 5, 2023

OKCoin: We’ll List Bitcoin Cash If Hard Fork Happens

OKCoin: We’ll List Bitcoin Cash If Hard Fork Happens

One of China’s biggest cryptocurrency exchanges, OKCoin, has announced it intends to list ‘Bitcoin Cash’ if a hard fork occurs on 1st August.

Also read: One Week to Go Till 1st August – Do You Still Have to Worry About Bitcoin?

OKCoin to List Any Coin Created by Hard Fork

The exchange commented on the situation, saying if a hard fork were to happen, they would give Bitcoin users a chance to claim any new token that emerges from it.

OKCoin logoAdditionally, they also said they would take steps to support trading for every type of Bitcoin.

OKCoin also said they will suspend buying and selling of BTC during the potential hard fork. This is due to “potential technical risks such as replay attacks and other issues that may cause network instability.”

This is only the exchange’s plan if a hard fork actually happens. if a fork is avoided and the network remains united and stable, they would resume deposits and withdrawals as normal.

Following in ViaBTC’s Footsteps

OKCoin was not the first exchange to announce that they would list Bitcoin Cash, which would be created by miners running the “Bitcoin ABC” software to avoid SegWit.

Bitcoin Cash logoViaBTC also announced they would be mining the token if a hard fork happens on August 1st, and make it available to its mining pool and cloud contract holders. In a more radical move, ViaBTC’s exchange already lists and trades the new token as BCC.

Other players in the Bitcoin community have been readying for a hard fork as well, such as Ledger Wallet.

Ledger is offering its customer base “free money” in the form of a tool that will help users take advantage of the situation by doubling their coin holdings.

What do you think of OKCoin’s decision to list coins that emerge from a potential hard fork? Let’s hear your thoughts below.

Images via OKCoin,

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