How to Get FREE Bitcoin cash From the Hardfork, and Common Questions Answered

in #cryptocurrency7 years ago

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How much Bitcoin Cash will you get from from the hardfork:

You will have an equal amount of both currencies, for example if you are currently holding 1 btc, you will get 1 bitcoin cash once the split happens, and still have your 1 btc. When a hardfork occurs, the exact blockchain is getting copied, so all of your btc transactions will look the same on bitcoin cash. So answering your question, you will get it 1:1.

Is Bitcoin Cash free if I have Bitcoin:

Yes, Bitcoin Cash will initially be free when the split occurs, as long as you have access to your Bitcoin wallets private key. Once you have your private key, you will be able to enter it on the Bitcoin cash wallet, and get your "free" bitcoin cash.

How much is Bitcoin Cash worth:

There is no way anyone is going to know how much it is going to be worth the second Bitcoin cash enters into the market. Bitcoin cash futures are currently trading at around $400 dollars.

What wallet should I use:

Check to make sure your wallet gives you access to its private key, if it does you are set. I am currently using Exodus wallet for this. There are also certain exchanges that will support bitcoin cash and give you your bitcoin cash. Make sure to research whatever exchange you are planning to use. If your bitcoin is on Coinbase or an exchange that doesn't support it, I would recommend you move your currency over to a new wallet, if you don't know what wallet to use, I would recommend exodus:

https://www.exodus.io/

Should I put all my money in Bitcoin before the fork:

Although I have put most of my money into bitcoin at the moment, there is still risk to this split. Bitcoin may see a large increase in price, or small dip. Bitcoin Cash may not turn out to be worth enough to compensate for that price correction.

What I think will happen:
I think bitcoin will go up in value and bitcoin cash will be somewhere around half of bitcoins current value when it opens. Although personally I am more sure about Bitcoins price going up, Bitcoin cash is just and extra :)

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Bitcoin cash price will probably drop to nothing as everyone unloads it.... but the price will probably go up long term.... thats my speculative guess

I honestly don't think it will drop too low, interesting to see what happens

Yeah the suspense is killing me!