The renowned cryptocurrency exchange, Binance, largest by trading volume is going to support renowned cryptocurrency, Bitcoin Cash (BCH) hard fork. The hard fork for the cryptocurrency Bitcoin Cash (BCH) is coming November 2018. Furthermore, the crypto exchange is going to support the hard fork upgrade by suspending trading in the cryptocurrency for a scheduled time.
The crypto exchange is going to suspend normal trading actions such as deposits and withdrawals. The crypto exchange is requesting its user to provide ample time for the scheduled update to roll-out. Furthermore, the crypto exchange is promising to technically support all of its users technically whosoever holds any Bitcoin Cash (BCH) in their account.
More about the announcement from the crypto exchange
The crypto exchange made the announcement from their official Twitter handle. Binance tweeted from their account, “#Binance will support the upcoming Bitcoin Cash hard fork“. Furthermore, an official announcement was made from their official blog notifying its users about the announcement.
The crypto exchange is going to take a snapshot of the holdings at the desired time on November 15, 2018, at 04:40 PM (UTC). Moreover, all the trading actions including the deposits and withdrawal will be suspended from November 15, 2018, at 03:00 PM (UTC).
The official blog stated this. “Fellow Binancians, Binance would like to confirm support for the upcoming Bitcoin Cash hard fork. We will take a snapshot of all Bitcoin Cash balances at UNIX time 1542300000, 2018/11/15 4:40:00 PM (UTC). Deposits and withdrawals of Bitcoin Cash will be suspended starting from 2018/11/15 3:00:00 PM (UTC).”
The crypto exchange also urged the users for time to roll-out normal activities. “Please leave sufficient time for deposits processing in full prior to this time. We will handle all technical requirements involved for all users holding Bitcoin Cash in their Binance accounts.”
The crypto exchange is creating separate accounts in order to notify its users for the re-opening of all the trading activities.