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Binance, one of the world's largest crypto-currency markets, has announced full support for the upcoming hard Bitcoin Cash fork scheduled for November 15th.
More Businesses Announce Bitcoin Cash Hard Fork Policies
A few days after Ledger, one of the world's largest hardware wallet providers, announced its own policy regarding the future Hard Bitcoin Cash fork, crypto-trading giant Binance announced that He would support both sides of the split. The news is broadcast via a post on the designated blog of the company. It reads:
"Binance would like to confirm its support for the future hard Bitcoin Cash fork. We will take a snapshot of all Bitcoin cash balances at UNIX time. 1542300000, 2018/11/15 16:40:00 (UTC). "
The Post goes on to say that the exchange will suspend all deposits and withdrawals one hour before the proposed time for the hard range. Binance also stated that customers should ensure sufficient time for deposit processing and that they would make a second announcement after the snapshot to inform users of the resumption of deposits and deposits. withdrawals.
Binance is the second largest cryptocurrency company in a week to announce its policy on the future Hard Bitcoin Cash fork. On Tuesday, the hardware wallet provider, Ledger, said via his Medium account that he would temporarily stop the functionality of Bitcoin Cash services until the connection is completed:
"Ledger will suspend the Bitcoin Cash service until it is possible to determine which of these channels will be the most stable, both technically and economically. The reason the service was closed during this time is to prevent unwanted transactions (resulting from "replay attacks"), potentially resulting in a loss of funds and other potential problems related to Bitcoin Cash during this period. "
Ledger went on to say that those who want to make transactions using cryptography should use a third-party portfolio service, but do so at their own risk. The manufacturer of the hardware portfolio added that those who simply wanted to stock the altcoin could leave funds in the records and would not be affected.
Bitcoin Cash Price jumps 10% on Binance support
In an uneventful day for the cryptocurrency markets, the Bitcoin Cash prices seem to have reacted positively to the news of Binance's support. In the last six hours, the price has gone from about $ 425 to $ 471. Such an important decision makes BCH the second best player on CoinMarketCap in terms of percentage change in 24 hours.
Such big players in the industry announcing their policy on the future difficult range might well indicate to investors that the split between the Bitcoin ABC group and Craig Wright's vision, Satoshi, is definitely moving forward. Given that holders of BCH at the time of the hard range will receive an equal number of coins on both channels, the prospect of free coins seems to be the factor most likely to cause current prices to fluctuate.
Selected image of Shutterstock.
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