Panda Exchange is getting ready for the next Bitcoin Cash Hard Fork
One of the crypto assets listed in our platform, with several trading pairs, will feature a hard fork and an update according to the development of the project. Here are the preparations Panda Exchange is making on this matter, and how we will be operating before, during and after the event.
Bitcoin Cash (BCH), a popular crypto asset that can be traded in different pairs in our platform, will feature a hard fork as part of its continuous development. Our team is making preparations to successfully go through this event, ensuring the security of the users’ funds in Panda Exchange.
Bitcoin Cash Hard Fork is scheduled for November 15th at 12:00 pm UTC (7:00 am in Colombia) and, as usual in these events, deposits, withdrawals and every operation with this crypto asset will be suspended in our platform, and they will be enabled again as soon as the network stabilizes, which could take days or weeks.
Operations with Bitcoin Cash (BCH) will be suspended in Panda Exchange from November 14th at 11:00 pm UTC (6:00 pm in Colombia).
Due to the dissenting points of view into the Bitcoin Cash community, it is possible that the hard fork brings a new asset to the cryptocurrency world, caused by the split of the current project into two different ways. For our part, we will take as Bitcoin Cash (BCH) the asset most supported by the community and the network miners, and we will not immediately support the new crypto asset or distribute the coins that could be generated from the hard fork.
Recommendations for Panda Exchange users
We strongly recommend our users to take into account our position in regard to this new event, so you can withdraw your funds in Bitcoin Cash (BCH) in advance, if you wish to receive the new assets that could be generated in this hard fork.
At the same time, we will be in charge of all the technical details related to the funds in BCH stored in Panda Exchange when the hard fork occurs, ensuring the security.
In general, these events bring uncertainty and volatility in the market of the cryptocurrency concerned, furthermore, a short period of turbulence in the network could happen while the mining activity goes back to normality. We expect to enable Bitcoin Cash operations again in our platform as soon as possible, and we will keep an eye on any eventuality.
Panda Exchange Team.
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