With the bitcoin (BTC) hard form imminent and about to happen in just a few hours from now, it is of paramount importance that you know what’s happening and how you can secure your cryptocurrencies.
The bitcoin hard fork will happen today at 12:20 (UTC) and once that is complete all those users who own bitcoin will be allotted equal number of Bitcoin Cash (BCC) – provided your bitcoins are with an exchange or wallet provider that will support BCC.
While you don’t need to do anything else to get your hands on the newly generated cryptocurrency, if your bitcoins are with a third-party wallet provider such as Coinbase or blockchain.com, you are most probably out of luck as they many third-party wallet provider have stated they will not support BCC and will not allow users to withdraw the free money.
If you are using a third-party wallet provider, it means you are not in control of your private keys of your Bitcoins and this effectively means you don’t control the private keys of your Bitcoin Cash either.
There are wallets that allow you to control the keys to your bitcoin and these include the likes of Electrum, Jaxx, and Mycelium. If your coins are on a third party provider that do not allow you to control the private keys, you should make every possible effort to move them to a provider that allows you to control the private keys before the scheduled hard fork. Coinbase withdrawal delays of 12 hours have seemingly been resolved, so you may try withdrawing your bitcoin before its too late.
ViaBTC, Kraken, and quite a few other reputed exchanges have extended support for BCC and if you are with one of them, then you need not worry. Bithumb, Bitfinex, and Coinfloor have also voiced their support.
Alongside these exchanges there are quite a few third-party wallet providers who have said they will support BCC and will offer users the option to withdraw their BCC. These include the likes of Ledger and Trezor, BitcoinABC, BitcoinClassic, BitcoinXT, BitcoinUnlimited, Freewallet, Coinomi, BTC.com, and Electron Cash.