News

Official information about Bitcoin forks

2 months ago

Due to upcoming Bitcoin cryptocurrency forks, we would like to provide you all needed information and a plan for the next days.

First of all, during both forks, your funds are going to be safe.

Since fork related to Segwit2x doesn’t apply one method of funds’ division (so-called „replay protection” - the situation is changing dynamically), our priority is to prepare properly to this fork. Because of that, there can be a potential delay in providing Bitcoin Gold deposits and withdrawals. This currency will have “replay protection” as a default function, so it is safer.

If the chain will split and newly created Bitcoin Gold will be accepted and supported by the community, the additional funds are going to be added to our clients’ balances – analogically to Bitcoin Cash situation.

Because of technological construction of BitBay 3.0, we will be able to make trading markets available immediately.

During the fork, there might be a possibility, that we will disable Bitcoin deposits and withdrawals for 24 hours or more. We are going to inform about it beforehand. If you would like to have full control over your funds and their availability, we recommend to withdraw them to your personal wallet. Because cryptocurrency forks are somewhat experimental, we cannot guarantee precise dates for full support of the new coins.

Also, we reserve the right to change our decisions about sharing and supporting any fork that occurs, especially if there might be any potential risks generated by the newly created coins.

We recommend checking official statements of other global exchanges, eg. Bitfinex or Coinbase. We care about our clients’ funds safety and we will support certain forks only if there is full certainty that split blockchains work in a stable way.