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Bitfinex releases statement supporting the Bitcoin Cash [BCH] hard fork



Bitfinex releases statement supporting the Bitcoin Cash [BCH] hard fork

The popular crypto exchange, Bitfinex has released a statement supporting its users for the Bitcoin Cash [BCH] hard fork scheduled on November 15. Moreover, the hard fork is going to happen just this week. It will take place around 4:40 PM UTC as a scheduled upgrade under their core security protocol. Moreover, this upgrade is much more consequential and eventually also controversial. Furthermore, the hard fork might result in multiple viable chains.

The Hong Kong-based crypto exchange, Bitfinex is getting its users and their trading platform ready for the hard fork. Bitfinex is a crypto exchange trading platform, under the ownership and currently operated by iFinex Inc. The crypto exchange is currently headquartered in Hong Kong but registered in the British Virgin Islands.

Bifinex announces its support for the Bitcoin Cash hard fork this week

Bitfinex made the announcement through their official Twitter handle and official blog. They tweeted: “We are happy to provide full support for the upcoming Bitcoin Cash hard fork.”

The hard fork is scheduled to take place around 4:40 PM UTC. The crypto exchange is going to suspend all the trading actions on its trading platform 60 minutes prior to that. They wrote: “Bitfinex will complete a full account snapshot of Bitcoin Cash balances at UNIX time 1542300000, I.E 4:40:00 PM UTC, November 15th. Deposits and withdrawals of BCH will be suspended as of 3:30:00 PM UTC, November 15th.”

The crypto exchange promises to handle the technical details and processes required for the user to trade in the cryptocurrency. Moreover, the crypto exchange has refrained itself from choosing any side for now. They clarified: “At the time of writing, we do not believe that there is sufficient consensus to identify a clear winner in the Bitcoin Cash hard fork.”

Although, it has also promised to announce regarding the matter on November 16th about what will happen. Furthermore, the crypto exchange has also promised to make an announcement following the day of the hard fork when everything goes as planned.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.