TIP: See a list of upcoming Bitcoin forks that you might want to be holding Bitcoin for. You should never try to claim a forked coin with an address that has the non-forked coins in it, as this could result in you losing your original coins if something goes wrong. WARNING: If you are going to claim coins from a fork, move your Bitcoin balance to another address first (so be in for the snapshot, but then move you balance before you claim the forked coin).
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That is the gist of how to be in Bitcoin for the fork and get “forked coins,” getting forked coins from other cryptocurrency forks of coins like Bitcoin work the same way.īelow we explain the process of being in for the fork and claimed forked coins in step-by-step detail and offer some extra notes. If you control your private keys (for example via a Bitcoin Core wallet), you’ll need to obtain and configure the wallet of the new forked coin yourself using your private key from your existing Bitcoin wallet address (thus you must retain access to any addresses where you stored Bitcoin when the snapshot of a given fork occurred in other words, you must retain the private key of any address you had Bitcoin on during the snapshot). If it is third party platform that supports the fork, they will credit your account at a date determined by the platform.
How to claim coins can differ depending on which platform you have your Bitcoin on. That duplicate will become the new chain after the forked coin’s network goes live.Īfter the forked blockchain goes live down the road (which can take hours, days, weeks, or months), you can then claim your “forked coins.” This is because the developers of the new chain will take a “snapshot” of the ledger at a specific block height thereby creating a duplicate copy of the chain (the result being that all holders of Bitcoin on one chain will hold a proportionate ratio of the new coin on the new chain). To get “free coins” from a Bitcoin fork, you need to have Bitcoin on a platform that supports the fork before the block height at which the fork occurs. How to Get “Free Coins” From Bitcoin Forks – Everything the Average Cryptocurrency User Needs to Know About Bitcoin Forks and Cryptocurrency Forks (and Airdrops) in General
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