Poloniex to Offer Bitcoin Cash Pre Hard Fork Trading

Company says it stays neutral and wants allow the community to decide which chain to support
08 November 2018   174

Poloniex Cryptocurrency Exchange is the first trading platform that will provide its customers with access to the coin trading of the upcoming hard fork of Bitcoin Cash. This is reproted in the official blog.

Starting on Thursday, users can "trade two tokens at the center of the debate about the pending Bitcoin Cash (BCH) hard fork: Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV)".

We believe the responsible thing to do in this case is 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.

Poloniex Team

In preparation for the hard fork, the exchange has already launched the following trading pairs: BCHSV / USDC, BCHABC / USDC, BCHSV / BTC and BCHABC / BTC. Clients can also exchange BCH for BCHABC and BCHSV and vice versa, but cannot withdraw forks until they are executed.

The company emphasizes that it seeks to maintain neutrality during the fork, so that the community itself can decide which blockchain should become the main one. Poloniex will evaluate each blockchain separately to decide whether it should open a market to trade its coins or continue trading in futures mode.

Exchange reported earlier on its intention to support both possible chains of upcoming Bitcoin Cash hardfork. Bitcoin Cash hardfork is scheduled for November 15th.

Poloniex to Require 2k Confirmations for BTN Transactions

The exchange hadn't warn users on the new temporarily requirements
13 November 2018   144

Due to the instability of the Bytecoin network, the Poloniex exchange temporarily requires 2000 confirmations to carry out this cryptocurrency transactions. It was reported by the CCN reporter, who tried to transfer funds to the exchange in order to convert into BCHABC and BCHSV tokens, which appeared in the listing on the eve of the sensational hardfork in the Bitcoin Cash network.

In the Bytecoin network, a standard number of confirmations is considered to be 10. This already exceeds the performance of most digital assets.

After waiting 10 hours, the reporter contacted to technical support and received confirmation that the exchange, without informing its users, introduced significant restrictions for Bytecoin holders. Taking into account that Bitcoin Cash hardfork will take place on November 15, and the deposit may take up to 3.5 days, now the user may not have time to carry out his original plan.