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Binance releases more information about its take on Bitcoin Cash hard fork

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Binance releases more information about its take on Bitcoin Cash hard fork

The Bitcoin Cash hard fork is going to take place in about 24 hours. With this controversial step in an already controversial cryptocurrency digital asset token market, the cryptocurrency is making all the headlines. Furthermore, the Bitcoin Cash [BCH] hard fork will take place at 04:40 PM UTC (11:40 AM EST, 10:10 PM IST) on Thursday, November 15, 2018.

Every cryptocurrency exchange and trading platform is releasing a statement supporting their users. From Kraken to Bitfinex, to Binance again. The world’s largest crypto exchange, Binance is releasing information about its take on the Bitcoin Cash hard fork.

Binance recently launched its research and analysis division, Binance Research. Furthermore, this would help in creating reports industry catering to the industry needs.

What is Binance saying on the controversial matter?

Binance wrote on their official blog announcing about the timings of when the hard fork would take place. “Fellow Binancians, To support the upcoming Bitcoin Cash hard fork, Binance will take a snapshot of all Bitcoin Cash balances at UNIX time 1542300000, 2018/11/15 4:40:00 PM (UTC). Deposits and withdrawals of Bitcoin Cash will be suspended starting from 2018/11/15 3:00:00 PM (UTC).”

Furthermore, as the crypto exchange did previously it has already assured its users that they will support them technically. Moreover, they are going to fulfill all the technical requirements needed. They have urged their users to let transactions, deposits and other such actions process in sufficient time before the hard fork.

Furthermore, they stated: “As the Bitcoin Cash hard fork may result in two different chains, Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV), Binance will halt trading in all existing Bitcoin Cash markets, including BCC/BNB, BCC/BTC, BCC/ETH and BCC/USDT, at 2018/11/15 4:40:00 PM (UTC).”

They stated that if there is no new altcoin created in the hard fork process, Binance will resume trading. Furthermore, it has assured that trading would resume for all the Bitcoin Cash trading pairs. Moreover, the crypto exchange will make the announcement for the same.

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