Coinbase Asks Users To Transfer Bitcoin

Despite all the fears of the proposed Bitcoin Cash (BCC) fork coming on August 1, cryptocurrency exchange Coinbase has issued a notice to their users.

They sent mails to their users stating that they will not support the BCC tokens that are generated, should a fork occur. The company stated that there is uncertainty in the future market value of the alternative fork (BCC) or its future value, and because of the built in ambiguity, supporting the secondary fork is not advisable for the company.

They also issued a warning to customers who would like to use the BCC after the fork to withdraw their BTC. It was stated in their email as follows;

Customers who wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access bitcoin cash (BCC) then no action is required.

The company will suspend trading for a short time after the fork to protect the funds of users until the disruption to the Bitcoin network is complete.

Credit: Cointelegraph