Update on Bitcoin Cash
- Eric Demuth
- 3 Aug 2017
We have received several requests regarding the handling of Bitcoin Cash.
Therefore we would like to give you a summarized update:
First of all, we have safely stored and separated all created Bitcoin Cash on our cold-storage. As proclaimed in our newsletter and announcement regarding the Hard-Fork, we did not support the contentious hard fork attempts. Needless to say we will not be keeping the Bitcoin Cash for ourselves.
Like most of the market leaders, we also decided during the scaling debate to not initially support Bitcoin Cash. Hence, we informed all our users to withdraw their BTC funds, if they should have any interest in the distribution of Bitcoin Cash from the beginning onwards. For all the other users, we are storing the existing Bitcoin Cash safely.
The reason for this action being the great uncertainty concerning Bitcoin Cash. Should the network become stable and safe in addition to a growing market for this new digital currency, we will take actions and credit Bitcoin Cash to our users. Furthermore, should Bitcoin Cash be effectively added to bitpanda, we will then also offer a buy and sell option besides a Bitcoin Cash wallet on our platform. As a precondition, the wallet software must be stable to a 100%, as here safety stands for us second to none. Therefore, a thorough due diligence process must be carried out on all new digital currencies.
Depending on the maintained safety of our platform, all of these measures will only then be materialised. Currently, the Bitcoin Cash blockchain is far from working stably and continuously. Thus, Bitcoin Cash can only be added safely and reasonably to bitpanda in a few weeks.
We truly hope that we were able to give you some clarification regarding our opinion towards the topic Bitcoin Cash and how digital currencies are added in general. You can always check our official Twitter account for recent updates: @BITPANDAcom
Paul Klanschek & Eric Demuth