Bitcoin cash (BCH) fork update

23 Nov 2018 10:15
Nicholas Fletcher, Customer Experience Officer

We have been closely watching the BCH landscape, both in how the two blockchains are developing, and how the community is reacting. As we originally announced, we will initially be supporting the ‘Bitcoin Cash ABC’ blockchain, and we will be referring to this as ‘Bitcoin Cash’ with the ticker symbol ‘BCH’.

BCH deposits and withdrawals will remain disabled for the time being as the network hashing power remains volatile and there is an ongoing risk of blockchain reorgs which could reverse transactions. We are hoping to re-enable deposits and withdrawals for BCH (ABC) in the coming week.

Regarding the ‘Bitcoin Cash SV’ blockchain, we are considering crediting customers with ‘Bitcoin Cash SV’ balances, matching their BCH balances at the time of the fork, and allowing these to be withdrawn from Independent Reserve. Before this can happen, the ‘Bitcoin Cash SV’ network needs to stabilise and reliable infrastructure such as wallets and block explorers need to emerge in the community. This may take several months. As always, the safety of client assets held within Independent Reserve remains our highest priority.

As always, if you have any questions please send them through our Support system.