- Bitcoin Cash is set to fork into two different currencies on November 15th
- In the run up to the fork, Poloniex will allow BCH holders to trade the forked currencies ahead of the split
‘The True Bitcoin’ is set to undergo another fork, and with it arguments are sweeping the BCH community about which fork will receive the most support, and whether the losing fork will wither and die, or survive as BCH survived when BTC came out on top after the BCH fork. Poloniex is now inviting traders to put their money where their mouth is.
The exchange is affording its users the ability to trade Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV), before the November 15 fork.
The pre-fork trading is available on the following pairs:
They are opening up a BCH/USDC market as well. if you are a customer, you can change Bitcoin Cash into an equivalent amount of BCHABC and BCHSV. You can also convert SV and ABC back into BCH if you wish to withdraw the funds. Moreover, there will be an option to trade immediately. However, you won’t be able to withdraw BCHSV and BCHABC before the hard fork.
A turbulent week ahead
They will pause BCH deposits as well as withdrawals at 14:00 UTC on November 15, 2018. At 15:00 UTC, they will also stop the BCHABC, BCH, and BCHSV markets, and cancel any other outstanding orders before they take a snapshot.
As for those who still hold BCH during this time will automatically receive the same amount of BCHABC and BCHSV. The exchange will allow withdrawals on both chains the moment they stabilize. The company knows a chain-wide replay protection is not yet available. Thus, they have created their own replay protection. They will also be able to present replay-protected withdrawals on the individual chains.