Crypto Exchanges Enabled Deposits and Withdrawals Of BCHSV, But Only Under Specific Conditions

Several renowned crypto exchanges have enabled their deposit and withdrawal operations with Bitcoin Cash Satoshi Vision (BCHSV). However, they have either imposed conditions or made clarifications about the convenience of this investment, primarily because of the characteristics of the blockchain and the conflict from which it derives.

In this regard, the Kraken exchange stated that Bitcoin SV did not meet the usual requirements to be listed in Kraken and stressed that it is an “extremely high-risk investment.” This asset does not have known wallets that provide repeat protection nor does it have support in the principal ecosystem blockchain explorers.

“No wonder – The responsible exchange platforms do not look kindly on clowns who oppose the protection of repetition, announce the intention to defraud these platforms, and try to launch deep reorganization attacks,” said Emin Gur Sirer on Twitter.

A significant element is that the Kraken exchange platform has made it clear that the losses generated by nChain’s harmful intervention will be socialized among Bitcoin Cash Satoshi Vision (BCHSV) holders.

Crypto Exchanges Enabled Deposits and Withdrawals Of BCHSV, But Only Under Specific Conditions

“Losses of custody assumed due to attacks originating from nChain or its affiliates will be socialized among all BSV holders in Kraken. Given the volatile state of the network and the threats that have been made, Kraken cannot guarantee perfect custody of BSV,” stated Kraken.

For its part, Bittrex qualified Bitcoin SV as a contentious fork, in a statement issued before the fork. The exchange warned that deposits sent erroneously between addresses of these currencies would not be refunded under any circumstances.

“Bittrex will make all reasonable attempts to credit our users with BSV chain division tokens. We will not recover deposits made incorrectly between strings under any circumstances due to lack of repeat protection,” reads the document.

Other crypto exchanges like Binance or OKEx have activated their trade of Bitcoin SV without major protocols, although the withdrawal and deposit of BCH were stopped as a preventive measure before the hard fork. Poloniex, for its part, removed the symbol “BCH” and listed BCHABC and BCHSV, although deposits and withdrawals will be activated once the network stabilizes. Bitfinex also opened its markets for the currencies generated after the fork, using the BAB and BSV tickers.

Jackson Bey

Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.

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