Bitcoin Fork is Coming

The Fork between Bitcoin and Bitcoin Cash is coming to Coinbase

A message went out to customers of Coinbase that they were going to have the Bitcoin Segwit2x fork on November 16 and will result in 2 bitcoin blockchains.

Coinbase wants to keep their customers and be the most trusted, safe, and easy-to-use digital currency exchange, so they are working to maximize this event for everyone. So, the following will happen with the fork:

    • Any user storing Bitcoin on Coinbase at the time of the fork will be credited with an equal amount of the new Bitcoin2x asset on the Bitcoin2x blockchain. No action is required – they will automatically credit your account. If you have 5 Bitcoin stored on Coinbase before the fork, you will have 5 Bitcoin and 5 Bitcoin2x following the event.
    • Coinbase users will be able to trade both Bitcoin and Bitcoin2x shortly after the fork.
    • Coinbase will disable buys, sells, sends and receives for Bitcoin and Bitcoin2x approximately 24 hours before the fork. They will re-enable them following the fork once it’s safe to do so.

For a detailed timeline of events surrounding the fork on Coinbase please see their blog post and FAQ

 

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