Bitcoin

Coins.ph will try their best to support Bitcoin Cash soon!

coins.ph will try their best to support bitcoin cash
Hey guys, it’s been a while again. This is an announcement I received via email from coins.ph . If you are a member already you might have received the email already. I know some people don’t read emails a lot that’s why I’m posting it.
So in July 30 2017, they sent an email prior to the Biggest day of Bitcoin history, which is the fork. They said on their blog post that coins.ph will not be supporting Bitcoin Cash.

Coins.ph does not plan on supporting BitcoinCash at this time.  This means that anyone holding Bitcoin in a Coins.ph wallet during or after the fork will not be issued the new BitcoinCash tokens, nor will their wallets be able to send or receive these new tokens.   – Coins.ph Blog Post

However, it seemed that they will be revising their previous announcement. The second email update I got was in August 10. They find BitcoinCash is getting its values, therefore, they’ll try their best to support this currency, but they’ll still do some feasibility studies to make sure it will worth supporting.

 

Given the results of the BCC fork and the financial value it now represents, we are now exploring several different approaches for handling the forked BCC value. – Coins.ph blog

Having that said whatever bitcoin balance you have prior to the coin split will be the same as your balance for bitcoin cash once they are able to implement this currency.
As of now, we are evaluating two primary possibilities:
  1. Adding BCC support and crediting customers wallets in BCC according to the amount of BTC held in the wallet at the time of block 478,558 (August 1 9:16 pm Philippines time, the time the fork occurred).
  2. Converting BCC created during the fork to BTC, and crediting the respective customer accounts based on the corresponding amount of BTC held at the time of the fork (net of any costs we incur for the conversion and transfer). – Coins.ph blog 

 

So is that a good news? Yes, of course because you’ll have a chance to have Bitcoin Cash which you can trade for Bitcoin in case you want it to be exchanged. 🙂 But they will be giving an update within the next 30 days.
 
Update as of 12/17/2017 :  Until now they still don’t support BCH.
Tagged ,

About miely

Miely is a working mom that writes during free time about personal thoughts and experiences.
View all posts by miely →

Any comments?