Binance has said they’ll encourage the Nov 15 th Bitcoin Cash to get Bitcoin SV. It’s nevertheless unsure when they are going to credit users to the coin that is formulaic.
With that said, logically these saying they encourage the fork signifies they will charge users, and which indicates you’ll obtain Bitcoin SV at a 1:1 ratio to BCH should you maintain your own BCH on Binance to your snap.
Assuming that they do charge customers, the underneath things are essential to comprehend:
- Binance will require a snap shot of most Bitcoin Cash accounts at UNIX period 1542300000, 2018/11/15 4:40:00 PM (UTC). Deposits and withdrawals of Bitcoin Cash is going to be frozen beginning with 2018/11/15 3:00:00 PM (UTC).
- Trading should logically start at a certain time then (it continues to be uncertain ). In yesteryear Binance has given futures before most important net went this might possibly be the scenario with this particular fork, or else they are able to await the most important net to establish. Or, they might consistently not allow gambling but give withdrawal. The issue with trusting somebody else along with your own coins would be that you don’t have any way to know for 100% sure they could move. If you would like ‘t want to trust someone else, be in control of your private keys! I’ll let you know more details when I know.
- There has been talk that neither fork has replay safety, so be careful moving your BCH or Bitcoin SV after the fork (If you have your coins on Binance, consider keeping them there until you know any bugs have been worked out).
You can also claim this fork by being in control of your private keys, however if you plan to sell this will require you to download the wallets of the fork, claim your keys, and then move to an exchange to sell. That process would be slow and full of potential traps given a lack of replay safety and the potential for fake wallets or a broken real wallet of the forked share.
With that in mind, if you plan to trade BCH and Bitcoin SV out of the gate, then moving your coins to Binance before the snapshot is a solid bet.
With that said, Poloniex and Bittrex have been more explicit about supporting the fork with Poloniex offering pre-fork trading and Bittrex clearly stating support for crediting users post-fork.
Read more about the Bitcoin Cash fork.