What’s Happening with Bitcoin Cash?
Blockchain has officially jumped on the Bitcoin Cash (BCH) bandwagon. After avoiding the chaos that ensued from the hard fork on August 1, the company has decided it’s time for its wallet users to join the BCH party. So grab your party hats—it’s about to get interesting!
Automatic Bitcoin Cash Distribution
No need to stress if you missed the memo about your Bitcoin (BTC) turning into BCH during the fork! If you held Bitcoin in your Blockchain Wallet on that fateful day, you can breathe a sigh of relief. Blockchain announced that all eligible users will automatically receive an equivalent amount of BCH. Yes, just like getting a birthday gift you didn’t ask for, but hey—free coins!
How and When Will It Work?
In a recent blog post, Blockchain detailed that over the next eight weeks, they’ll be rolling out “limited support” for BCH. This support will be accessible through the settings panel in your Blockchain Wallet. So, keep your eyes peeled and your virtual ears open for updates.
Here’s the Breakdown:
- Users with BTC on August 1 will get an equal amount of BCH.
- The rollout of support will occur gradually.
- All actions will be managed via your wallet settings.
BCH and Storage Location
The confusion following the hard fork stemmed from how different wallets handled the situation. Some wallets promptly credited users with their BCH, while others, like Blockchain, took a watch-and-wait approach. Many users, who were left in the dark about the implications of their chosen storage locations, have since been on a treasure hunt to unlock their tucked-away BCH. Thankfully, the wait is over for those in the Blockchain realm.
Recent Developments: Hello Ethereum!
If you thought that was all Blockchain had up their sleeves, think again! Just last week, they unveiled support for Ethereum (ETH). This means you can now engage in exchanges, send, and receive ETH directly from your wallet. Essentially, they’re piling on the coins like it’s a crypto buffet. No plates needed!
Conclusion: The Future is Bright
With the addition of Bitcoin Cash and Ethereum support, Blockchain seems to be angling for a pretty engaging future for its users. So, whether you’re in it for the BCH, the ETH, or both, it’s clear that the world of cryptocurrency just got a little bit larger—and a lot more fun.
