Topic: Do I pull my money from exchanges for the fork? - page 2. (Read 208 times)
You guys know if binance and bittrex supported the BCC fork? If so, I'll just leave it in there. I think they did, but I wasn't around here for it to happen...
for the b2x coin i believe it is already too late because i can see Yobit has already distributed the amount which indicates the fork has already happened.
to answer your main question, it depends on how much bitcoin you own and whether you speculate the forks to have any decent value!
because in order to withdraw and then deposit back again after the forks you need to pay fees. if you have something like 0.1BTC then it is not worth the effort! because the fees will be so much higher than the profit you may get with each coin being worth 0.001-0.005BTC and at best 0.01!
but with higher amounts it becomes more valuable to do this.
also remember that when you withdraw you will have to wait a very long time before you can find a trusted wallet for these forks you can use to claim your coins!
to answer your main question, it depends on how much bitcoin you own and whether you speculate the forks to have any decent value!
because in order to withdraw and then deposit back again after the forks you need to pay fees. if you have something like 0.1BTC then it is not worth the effort! because the fees will be so much higher than the profit you may get with each coin being worth 0.001-0.005BTC and at best 0.01!
but with higher amounts it becomes more valuable to do this.
also remember that when you withdraw you will have to wait a very long time before you can find a trusted wallet for these forks you can use to claim your coins!
Bitcoin core is a trusted wallet which will be more than enough. It's not too late either because the block is another few hours away from happening so if you transferred that to a wallet you would get the amount in forked coins.
You don't need to pull your money, just save your BTC and let it remain at the exchange for you to get the result of the fork, the B2X which is equivalent to your BTC holding at the exchanges that supports this pork, it's an additional to your funds, so make it sure that the exchange where you have put your money supports the fork.
for the b2x coin i believe it is already too late because i can see Yobit has already distributed the amount which indicates the fork has already happened.
to answer your main question, it depends on how much bitcoin you own and whether you speculate the forks to have any decent value!
because in order to withdraw and then deposit back again after the forks you need to pay fees. if you have something like 0.1BTC then it is not worth the effort! because the fees will be so much higher than the profit you may get with each coin being worth 0.001-0.005BTC and at best 0.01!
but with higher amounts it becomes more valuable to do this.
also remember that when you withdraw you will have to wait a very long time before you can find a trusted wallet for these forks you can use to claim your coins!
to answer your main question, it depends on how much bitcoin you own and whether you speculate the forks to have any decent value!
because in order to withdraw and then deposit back again after the forks you need to pay fees. if you have something like 0.1BTC then it is not worth the effort! because the fees will be so much higher than the profit you may get with each coin being worth 0.001-0.005BTC and at best 0.01!
but with higher amounts it becomes more valuable to do this.
also remember that when you withdraw you will have to wait a very long time before you can find a trusted wallet for these forks you can use to claim your coins!
Hey guys,
I believe I already know the answer, but I want to make sure...
Should I pull my money from the exchanges (bittrex and Binance) and put it in my cold wallet for the fork to make sure I get the b2x coins?
It's currently on profit trailer's bot mercy, but I will sell them and convert to BTC if I must.
Thanks
I believe I already know the answer, but I want to make sure...
Should I pull my money from the exchanges (bittrex and Binance) and put it in my cold wallet for the fork to make sure I get the b2x coins?
It's currently on profit trailer's bot mercy, but I will sell them and convert to BTC if I must.
Thanks
Usually exchanges support the forks. There are even some wallets that are ready for most of the forks that Bitcoin is going through. I'd say it's safe to keep your BTC in the exchanges for the forks. But overall it's not safe to keep your coins in exchanges.
blocknumber for the fork should be 501451, that would take another 10 hours maybe...?
is you still get b2x although you use exchanger wallet? 
(correct me if im wrong) , if you think that important why not , everything on you .
yeah and also you get full control of your money when you put on cold wallet
(correct me if im wrong) , if you think that important why not , everything on you . yeah and also you get full control of your money when you put on cold wallet
When is the B2X fork supposed to happen? I believe sometime today. I can't remember the block number, but it's coming up...
that being said, I didn't know anything about it and I try to follow the crypto news closely. This one is on me.
that being said, I didn't know anything about it and I try to follow the crypto news closely. This one is on me.
Should I pull my money from the exchanges (bittrex and Binance) and put it in my cold wallet for the fork to make sure I get the b2x coins?
Yes, you should. If you don't pull your Bitcoin from the exchanges pre-fork you're ability to claim the forking coin is at the mercy of the business decision making of the owners of the exchanges.
Example: Coinbase was not going to honor Bitcoin Cash for the customers but after the fork a lot of their customers started complaining. Some accused Coinbase of fraud - which, obviously wasn't true but just an indication of how naive these customers were. Coinbase relented and agreed to honor their cusotmer's claims for Bitcoin Cash and deposited it into customers wallets last week. This was 4 months after the fork occurred and only after Bitcoin Cash had greater support among the market place. There's been zero indication that Coinbase will be honoring Bitcoin Gold for their customers.
In an event of a hard fork you should make sure that you have full control over the funds this means that you control the private key. Some exchanges may announce that they are supporting the new forked coin, but I would still recommend withdrawing all of your funds and putting it into a wallet that you control.
B2x is a pile of crap though, seriously.
B2x is a pile of crap though, seriously.
Hey guys,
I believe I already know the answer, but I want to make sure...
Should I pull my money from the exchanges (bittrex and Binance) and put it in my cold wallet for the fork to make sure I get the b2x coins?
It's currently on profit trailer's bot mercy, but I will sell them and convert to BTC if I must.
Thanks
I believe I already know the answer, but I want to make sure...
Should I pull my money from the exchanges (bittrex and Binance) and put it in my cold wallet for the fork to make sure I get the b2x coins?
It's currently on profit trailer's bot mercy, but I will sell them and convert to BTC if I must.
Thanks
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