Poloniex Offers Support for the BCH Network Pre-Hard Fork Tokens
Poloniex a popular crypto exchange has recently announced that users of its platform can now trade the BCH network pre-hard fork tokens— BCHABC and BCHSV, pending the Bitcoin Cash network hard fork.
Poloniex Offers Pre-Fork Trading
With other exchanges and wallet suspending support for BCH till the hard fork is over, Poloniex has taken a bold step by allowing its user the choice of trading these tokens ahead of the BCH network’s hard fork.
Going by this announcement, Poloniex is now the first exchange to offer to trade for the pre-fork coins. The two tokens listed are the likely result of the forthcoming BCH hard fork set for November 15.
The trading pairs offered on the platform are BCHSV/BTC, BCHSV/USDC, BCHABC/BTC, and BCHABC/USDC.
This way platform users can easily convert Bitcoin Cash into BCHABC and BCHSV, and vice-versa.
It is, however, important to note that it is impossible to withdraw these coins until after the hard fork is over.
The exchange has made it know that this move is a way for it to maintain a natural stance in the network’s ongoing fork debate. This was made known through a statement here:
“We believe the responsible thing to do in this case, is to remain neutral and allow the community to decide which chain to support, and we want to empower the community to demonstrate their support through trading activity. This is the first time we are offering pre-fork trading and it is part of a broader effort to make Poloniex one of the most innovative exchanges in the world. Going forward, we will evaluate each hard fork individually and decide whether to support the fork or to offer pre-fork trading.”
BCH Deposit is Required
Any user interested in trading this pre-fork tokens is required to deposit bitcoin cash on the Poloniex platform. Once this done the user can then go on to use the conversion tool to split the coins into an equivalent number of “Bitcoin Cash ABC” (BCHABC) and “Bitcoin Cash SV” (BCHSV).
It is also possible to convert the token back to BCH following a similar process if need be.
