Dear Bithumb Global users,
As Bitcoin Cash (BCH) is expected to undergo a hard fork at 20:00 (UTC+8) on November 15, 2020. It is likely that there is a chain-split between the two main BCH clients, Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN), making this a contentious hard fork that may result in an additional token.
Therefore, to reduce the trading risks caused by price volatility and maintain the safety of Bithumb Global users’ funds during the hard fork, Bithumb Global will handle the hard fork as per the following:
- BCH Deposits & Withdrawals
Bithumb Global will suspend BCH deposits and withdrawals at 18:00 (UTC+8) on November 15, 2020. Please ensure that you leave sufficient time for your BCH transfers to be fully processed prior to the time above. We will handle all technical requirements for users holding BCH on Bithumb Global.
- Regarding the BCH Hard Fork
The two likely scenarios to occur with the Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN) contentious hard fork are:
Scenario A: The fork results in two competing chains. Bithumb Global will credit users with BCH from the chain with the most work done. We will then also credit users with the coin from the minority chain at a ratio of 1:1 based on the snapshot of BCH balances. Further details regarding this distribution will be stated in a separate announcement. Airdrop assets can be inquired through "Assets-History-Airdrop".
Scenario B: No new coin is created. Bithumb Global will then resume BCH deposits and withdrawals as soon as possible.
- BCH Spot & Margin Trading
Spot Trading: BCH spot trading will not be affected. Please ensure you take sufficient risk measures as price volatility is often high during contentious hard forks.
Margin Trading & Smart Token: Margin Trading and Smart Token will not be affected. Please note that liquidations remain possible under extreme price volatility.
There are significant risks in trading digital asset. Please consider carefully whether digital assets trading are appropriate to your financial situation.
Bithumb Global Team
Nov 7, 2020