London, 9th November 2018 — CEX.IO, a UK-based crypto exchange, announces support for the Bitcoin Cash fork scheduled for 15th November.
Three hours before the scheduled fork, CEX.IO will pause BCH deposits and withdrawals to secure user funds. Once the network has been tested after the fork (testing will take around three hours) and correct transaction processing can be guaranteed, BCH transactions will be re-enabled.
The Bitcoin Cash network is regularly upgraded to improve the functioning of the blockchain. This time, however, the community has not managed to find consensus on the upgrade and there is the possibility of the chain splitting. If this happens, a new coin will appear and CEX.IO users will soon receive the new coin in the amount of their BCH balances at the time of the fork.
“To ensure the safety of users’ funds, we’ll pause BCH deposits and withdrawals before the fork. At the start of the fork, we’ll record account balances for users so they can get the new coin if it appears. We’ll also take some time to test the network after the fork and check that transactions are secure,” says Elaine Neal, CEX.IO Chief Product Officer.
Press release disclaimer: This is a paid press release. Coin Rivet recommends readers to undertake their own research on the company. Coin Rivet does not endorse and is not liable for any content or products on this page.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.