Here are the steps to get your bitcoins out of GDAX /Coinbase so that you can claim your BCC coins once the fork occurs.
- Create a wallet that you control the private key i.e. make an offline wallet. Google “bitcoin paper wallet”
- You need your new bitcoin wallet address and corresponding private key so that once the fork occurs, you can use this address and its private key to claim your BCC coins when a BCC software wallet is available.
- To claim your BCC coins, install a BCC wallet software and import the above private key and you will see your BCC balance jump to the BTC balance you had before Aug 1. Its basically free money!!
- If you leave your BTC coins in GDX or coinbase, they will be claiming your BCC coins because they own the private keys to the wallet you are using in GDAX or Coinbase.
- They will claim the BCC coins because right now BCC futures are trading at $800 per coin hence its is real money!! Will you leave $800 per coin on the table for someone to grab?
Web site to create offline wallet: https://www.bitaddress.org
Read about offline wallets: https://www.coindesk.com/information/paper-wallet-tutorial/
- Create an offline wallet for yourself. Keep the private key secure and a secret.
- Withdraw all your bit coins from GDAX/Coinbase and send it to the offline wallet address that you own and control the private key. You must have the private key to the wallet address else you are not the owner of the wallet address, someone else it , like an exchange or 3rd party.
- All your holding are now in the new wallet address that you have the private key. Remember a wallet has the public address and a corresponding private key. The public address is your wallet address. The private key is required to make withdrawals. If you control the private key, you truly own the wallet and its funds, not some 3rd party holding the funds for you.
- Once the fork occurs, Aug 1, you can import your offline wallet into any BTC wallet software and also import it to any BCC wallet software. Those wallets will show the same balance of BTC and BCC. — the balance you had on Aug 1. You can now send that BTC and BCC that you own and spend it or invest it as you wish, using their corresponding wallet software.
Note: BCC futures are at $800 hence its HAS value and worth claiming because it is yours to claim. Image when a stock splits, the brokage firm says that it will keep the extra shares and your stock qty will remain the same. This is very similar what GDAX / Coinbase is doing :-)