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Blog posts, Thought leadership | 10/30/2018

Upcoming Bitcoin Cash (BCH) Fork: What Does This Mean For You?

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On November 15, Bitcoin Cash will undergo a hard fork. As this fork will result in at least two chains without replay protection, Ledger will pause Bitcoin Cash service to avoid unwanted transactions until it is clear which of these chains will be the dominant one.

Why is there a Bitcoin Cash fork?

The Bitcoin Cash fork has originated from conflicting consensus changes between different Bitcoin Cash development teams. As no consensus was reached, a hard fork will occur on the 15th of November around 4:40 PM GMT (epoch 1542300000), resulting in several separate Bitcoin Cash chains. Eventually, one of these would be the dominant chain, which we will evaluate to support again then.

What does this mean for me?

Ledger will suspend the Bitcoin Cash service until it is clear which of these chains will be the stable one, both technically and economically. The reason for closing the service during this time is to prevent unwanted transactions (resulting from “replay attacks”), causing possible loss of funds and other potential issues interacting with Bitcoin Cash during this period of time. Depending on the outcome of the fork, we will communicate about our next move when we have a clearer vision of its result.
Be advised that during this service disruption, your Bitcoin Cash private keys will remain secured.
If you wish to transact during this time, you can still use a third party wallet supporting Ledger devices, such as Electron Cash, at your own risk.

What should I do?

If you do not intend to perform transactions with your Bitcoin Cash assets during this service interruption, no further action will be required. This means that you will not be able to use your Bitcoin Cash account during the service suspension. You will be able to monitor when Bitcoin Cash will be back online on our status page. Equally, we will keep our users updated through our Twitter and Facebook accounts. Once service returns, you will be able to access your Bitcoin Cash again.
Should you need or wish to continue having access to your Bitcoin Cash, we would recommend moving your Bitcoin Cash to a different wallet or exchange platform that will continue supporting it during this time. Please do note that by doing so, you would be accepting the responsibility of any outcome that follows. It is equally possible that third party wallets that already support Ledger devices may provide independent solutions as well.

Remain vigilant!

Attempts at scamming are frequently present during forks. Do not trust any giveaways and keep your 24-word recovery phrase secret, on paper only and to yourself. Please note that we do not offer phone support.
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