Bitcoin cash withdrawals on BL3P · BL3P | freedomnewsroom.com

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Bitcoin cash withdrawals on BL3P · BL3P


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Bitcoin cash withdrawals on BL3P

In our previous update we indicated that we view Bitcoin Cash (bitcash) as an altcoin and will only list it on BL3P if it has proven to be a stable cryptocurrency with clear added value. In our view, the added value Bitcoin Cash offers is still very limited and we are not confident the Bitcoin ABC software is stable and reliable. However, bitcash continues to be supported and has sustained significant value over the past days. We have been hard at work implementing a reliable method to provide users with access to their bitcash on BL3P.

As mentioned in our previous update, we have made a snapshot of all bitcoin balances at the time of the fork of the Bitcoin network. The time of this snapshot is the moment our node received the last common block between the Bitcoin and the Bitcoin ABC blockchain (August 1st, 15:16:49 CEST). Withdrawals for bitcash will be enabled early next week, based on the account balances at the time of the snapshot. You will receive an e-mail when your bitcash (BCH) has been added to your account.

As bitcash does not meet our requirements for listing as a separate market, BCH deposits and trading will not be enabled on BL3P. Bitcash will be shown as a separate market at the top of your page, allowing you to switch to that market. You will subsequently be able to withdraw your BCH to a BCH address in your control in the ‘withdraw’ tab.

What will you be able to do with your bitcash?

We recommend withdrawing your bitcash as soon as possible. You can use an address from your own bitcash wallet or another exchange platform. We cannot guarantee withdrawals for bitcash will be enabled for an extended period of time. However, you will be notified ahead of time if the option to withdraw bitcash will be disabled.

There are multiple exchange platforms where you will be able to sell your bitcash. An overview can be found here. It is recommended that you enable the ‘extra fee’ option if you want to withdraw your bitcash directly to another service that offers a limited time window for receiving bitcash. This option is not necessary for any other withdrawals.

When withdrawing your bitcash, ensure that you are entering a bitcash address belonging to a bitcash wallet or bitcash-supporting service. Bitcash addresses are the same as bitcoin addresses, and as such we will not be able to verify whether the entered address belongs to a bitcash wallet or service. Note that some services have indicated that they will not offer support when bitcash has been sent to the wrong bitcoin deposit address.



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