How to Claim Your Bitcoin Cash and Sell it for Bitcoin (TREZOR, Ledger, Electrum)Last updated on August 2. Warning: this guide reveals the exact method the author used to claim free Bitcoin Cas. H and exchange it for Bitcoin on the 2nd of August. While every reasonable effort has been made to ensure complete and accurate information, the author can’t guarantee a successful outcome for those following this method. Waiting for better documented methods and more familiar exchanges to offer BCH deposits is the safer play in this situation. However, as more people figure out how to sell their coins, profitability may well decrease. Bitcoin Cash – The Beginning. Bitcoin Cash (aka Bcash, BCH or BCC) forked off from Bitcoin on the 1st of August and its launch has proven rather rocky. Three days later, only 2 exchanges are supporting Bcash deposits – and its price has crashed on both. It still takes relatively a lot of time to get Bcash transactions into the blockchain and that’s due to the high difficulty of mining. Bcash forked with the same mining difficulty as Bitcoin but only a small fraction (around 5%) of its hashrate. Bcash’s first (or genesis block) took around 7 hours to be found. The difficulty adjustment process was meant to compensate for this, reducing difficulty to a level more appropriate for Bcash’s low hashrate within a few blocks. However, miners from “Genesis Block,” an aptly named, high- tech hostel in Hong Kong, apparently began mining Bcash for fun and marketing purposes. The hostel’s additional, unexpected hashpower greatly delayed Bcash’s difficulty adjustment process. As a result, Bcash blocks remain slow, although difficulty has since adjusted to about ¼ of Bitcoin’s. You can use this Bitcoin Cash block explorer to see the status of the current blocks (take a look at the bottom). Free Bitcoin Cash for Bitcoiners. If you held any bitcoin in a personal wallet (or on certain exchange wallets listed here) then congrats, you own an equal amount of Bcash too! ![]()
How to Claim Your Bitcoin Cash and Sell it for Bitcoin (TREZOR, Ledger, Electrum) 80. Acunetix Web Vulnerability Scanner 7600 . ![]() If you wish to sell your Bcash, there are 2 things you need to do, in the following order: 1) Split you Bitcoin into Bitcoin Cash. If your BTC was held on one of the exchanges listed, the exchange will have taken care of this process for you. When you log in, you should see a BCH (or possibly, “BCC”) balance in a new exchange wallet, in addition to your regular BTC wallet. The amounts in both wallets should match, assuming you haven’t made any recent trades or transactions. If your bitcoins were held in a personal wallet, you’ll have to split them yourself. We cover splitting for Ledger, TREZOR and for the Electrum software wallet. Note that the general procedure used for Electrum is applicable to other software wallets, although the precise steps will vary. Sell your Bitcoin Cash on an exchange. For those whose bitcoins were held on an exchange which split BCH from BTC and offers a market in BCH trading, you’re already done – sell your BCH whenever you feel like it. Everyone else will have to decide between the three exchanges currently accepting BCH deposits; Hit. BTC, Via. BTC and Bittrex. I used Hit. BTC for two good reasons: Hit. BTC requires only 2 confirmations before deposited BCH are credited to your account and made available for trading purposes. As Bcash blocks are still very slow (up to 8 hours delay), this could be a real time saver. By contrast, it appears other exchanges requires 2. Hit. BTC offers a quick and easy registration, which requires only an email address to complete. Keep in mind that because Hit. BTC is one of the only exchanges allowing to actually deposit BCH many people are selling it on the platform which causes the exchange rate to be lower than on other platforms. Before going any further make sure you have a backup of your wallet at hand. Using any of these methods without a back could result in total loss of your coins. DO NOT CONTINUE WITHOUT A BACKUP! Claiming Bitcoin Cash in Ledger Nano SClaiming Bitcoin Cash in TREZORClaiming Bitcoin Cash in Electrum. Claiming Bitcoin Cash in Exodus. Claiming Bitcoin Cash in Blochchain. Selling BTC for BCCSplitting your Bitcoins in a Ledger Nano SSplitting with ledger is a fairly simple process but not an intuitive one, make sure to follow these exact steps: Step 1 – Back up your Ledger wallet. Throughout the process you will need to update your firmware, this will wipe all of the data from your device. Make sure to have a back up before moving forward or you will lose all of your coins. Step 2 – Update your Ledger Firmware. Download the Ledger Manager for chrome, go to “Firmwares” on the left hand side and click on “Install”. You will then be prompted to confirm this action on your device. Once the update is complete you will need to import your wallet from your seed phrase. The complete steps to this process can be found here. Once you have a firmware version that is 1. Step 3 – Download the Bitcoin Cash App. Inside the Ledger Manager, go to “application” and download the Bitcoin Cash app (2nd from the top). Step 4 – Create a separate Bitcoin Cash wallet on your Ledger. If you had Bitcoins before the fork, Ledger now splits those Bitcoins into BTC and BCH but keeps them on the same wallet. It’s recommended to use a separate (aka split) wallet to manage your BCH. This step isn’t mandatory but is advised. If you wish to skip this step move straight to step 6. Connect your ledger and select “Bitcoin Cash” from the available options on the device. The following screen will open: Select “Bitcoin Cash”. The following screen will ask if you want to access the main wallet (BTC and BCH combined) or the split wallet (Only BCH). Select “split”. Go to “receive” and generate a BCH address. You will later send your Main wallet’s BCH to this address. Once you have your BCH address move to step 5. Step 5 – Send your BCH from your main wallet to your split wallet. Go to “settings” – “Blockchains” and this time choose “Bitcoin Cash” and “Main”. This wallet holds your newly formed BCH along with your BTC. It’s now time to send them to your split wallet. Go to “send” and send your BCH to your split wallet address which you’ve retrieved on step 4. Step 6 – Send your BCH to an exchange. You can now go to “Settings” – “Blockchains” and log back into your split wallet. You will need to wait for a new BCH block to be mined until you can see that your transaction is confirmed. Once it’s confirmed you can send your BCH into an exchange or hold on to them. For the official ledger guide click here. Splitting your Bitcoins in TREZORDue to only having a week to prepare for the launch of the final version of Bcash code, Trezor’s wallet does not currently support BCH (although they’re working on a fix). It is however possible to use an online tool by TREZOR in order to split your BCH and simultaneously send it to a BCH address. Thoroughly review Trezor’s guide to this process and check their Twitter and subreddit for any updates. Sometimes the tool is offline and recently some bugs were found in it. Step 1 – Visit the beta version of Trezor wallet. You should use Google Chrome to access the wallet; the author was unable to complete the process using Firefox or a clean install thereof. Make sure that you’re on the beta site: https: //beta- wallet. The reason for visiting the beta Trezor wallet is that it enables you to update your Trezor’s firmware to the latest, beta version (1. Particularly if you haven’t performed this process before, you should study Trezor’s guide to firmware updates. Step 2 – Be certain you have a backup of your seed phrase and update your firmware. This is done as follows: disconnect the deviceplug it in while holding both device buttons pressed. Step 3 – Go to the Coin Splitting Tool. Click on “Connect with TREZOR”. Reconnect your device and enter the PIN as usual. Step 4 – Select the account you want to split BCH from and enter an address to send the BCH to. It is possible to enter the exchange funding address directly in this stage (see below how to get a deposit address for Hit. BTC). Splitting your Bitcoins in Electrum. If you have an Electrum Bitcoin wallet, we suggest you follow this excellent guide put together by the Electrum developers. In case that any of this doesn’t make complete sense to you, please don’t use this method it’s pretty risky. Here’s a TL; DR version of it: Step 1 – Write down all of your Bitcoin addresses that had Bitcoins in them during the fork.
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