Coinbase only supporting Bitcoin not Bitcoin Cash.
I highly recommend that you pull all your Bitcoin from Coinbase and put it in a private wallet where you control the keys.
This may not be a surprise to most of you but I just received an email from Coinbase.
Now I moved most of my money away from Bitcoin into different alt coins a few weeks ago.
I'm not necessarily saying that was the best move it's just what I happened to do.
Some people were suggesting that there could be three or four different forks.
Source: Giphy.com
Certainly there would be the fork between Bitcoin and the new creation that would be called Bitcoin cash.
Most people were told that it would be a good idea to pull your money off of exchanges like Coinbase and instead use a private wallet because they were likely to lock your Bitcoins for a couple of days surrounding the August 1st hard fork.
That could be bad news considering that they had not stated their stance on whether or not they were only going to support one coin or if they would give you both coins in the event of a split.
Well I just received this message from them that contains the following paragraph:
In the event of two separate blockchains after August 1, 2017 we will only support one version. We have no plans to support the Bitcoin Cash fork. We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value.
It's hard to determine how long the alternate version of Bitcoin will survive. Given how long the alternate version of ETH has survived I find that surprising.
I highly recommend that you pull all your Bitcoin from coinbase and put it in a private wallet where you control the keys.
Got mine in exodus going to need my private keys
Good advice!
Would you recommend Coinami? I believe we control our keys for that wallet; I'm glad you put this up because I'm looking for what to do; I don't have my hardware wallet 'yet' --- getting one soon
I've never actually used that one before........all the reviews for it seem good though.
Good info man, put it in a private wallet is the wiser decision. In my case I'll hold bitcoin to get some of that bcc and see what happen.
Move it to alts is an interesting move too, to which ones did you move your BTC?
I haven't even had time to read up on BCC --- what is that???? --- also going to move my bitcoin out of Coinbase; glad you folks are on here discussing this one; There are a lot of people with questions after that 'sudden announcement' from Coinbase today
Yes @topnetworkeral you should move it to a wallet which allows keys export.
BCC(Bitcoin Cash) would be the outcome of a blockchain split. If you have Bitcoin now and the blockchain splits, the private key that has one Bitcoin will be valid on both blockchains. You'll have the same amount of Bitcoin on the old(BTC) and the new blockchain(BCC).
Steem, SBD, XRP, and VIVA. I wish I had more money now because I think BITB is gonna take off soon. Also I nearly put some of it in TENX when it was 0.65 now it's nearly a dollar, that one would've been a good choice. Riskier though. High risk, high reward though.
Good choices, i think. Im not sure about XRP but Im not too much into that coin so idk.
I'm going to look for information about VIVA recently I was reading about tradqwik and I found it interesting.
Thanks for the information
thanks to share with us ... @najmul22 plz vote me.
Thanks for the tip, what's the most secure wallet in your opinion?
I like Electrum if you're looking for a wallet for the desktop, but if you're talking about the most secure wallet you might want to go with the hardware wallet like the Trezor.
Appreciate that, I'm planning on getting a hardware wallet soon so its good to know the safest desktop wallet for now.
great question; here to read the answer whenever it comes :)
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