Bitcoin Cash HardFork – Ledger Wallet To Suspend BCH Support On 15 November
While the Bitcoin Cash (BCH) community is still configuring as to which of the two upgrades Bitcoin ABC and nChain, shall be uniformly implemented across the network. Camps of both the upgrades have already released their individual versions of the upgrade that is to come on the 15th of November. In the meanwhile, Ledger Nano S, popular hardware wallet announces that they will be suspending support towards BCH until the decision about the fork is finalized.
According to the team, this action is taken to avoid unwanted transactions during that time period, which could lead to ‘replay attacks’, loss of funds and other issues with the token’s protocol. Though the exact time frame for the suspension is disclosed, it is believed that it will be probably before the time of the Hard Fork, i.e. 15th of November around 4:40 PM GMT.
Moreover, the team suggested users, who are interesting in transacting with BCH during the hard-fork period, to move their funds to another wallet.
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.
The users can also avail the option of keeping their BCH safe in the hardware wallet until the contemplation around hard fork is completed. During this period, the BCH holders will not be able to access their funds in the hardware wallet.
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.
in simpler terms, if the user wants to trade in BCH during the contemplation period, they should transfer their funds to another wallet or exchange. In a scenario where the user also wants to wait for the outcome of the hard-fork, their funds could be ‘frozen’ in the wallet.
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.