Cut-off Time for BCH Transactions 11 am GMT
Freewallet users will be able to make regular Bitcoin Cash transactions up to 11 am GMT today, Thursday November 15th, about six hours before the BCH hardfork is scheduled to occur.
In order to minimize instability and reduce potential risks, Freewallet has set a deadline on Bitcoin Cash transactions about six hours before the scheduled hardfork. The hardfork is set to take place at 16:40 GMT today. If you are planning to make a transaction in BCH we ask you to please do so before 11 am GMT, at which point the window will close and funds in BCH will be frozen. Please do not make any pay-in transactions after the deadline. With the large amount of traffic leading up to the hardfork, this deadline ensures that all transactions will be processed in a timely and accurate fashion and that any eleventh-hour confusion will be avoided.
The BCH hardfork set for this afternoon comes after intense speculation and media buildup. Two parties within the Bitcoin Cash camp have been unable to come to an agreement regarding the token’s increasing blocksize, and as a result have decided to part ways. Due to BCH’s prominence, and its origin as a fork-off of the original Bitcoin token, the run up to today’s hardfork has prompted a flurry of activity. There are a number of post-fork outcomes possible, but, for Freewallet users, we would like to stress that whatever the outcome we’ve got you covered.
Once today’s hardfork takes place, at 16:40 GMT, BCH will be split into two subsequent coins, BCHSV and BCHABC. Investors and traders have been hoping that these off-shoot coins find footing like the Bitcoin Cash did following its own hardfork from Bitcoin. At Freewallet we will support the hardfork and the two coins that stem from it. After the fork it will take some time (approximately 3-7 days) for us to parse through the new blockchain in order to make your coins available to you. Moving forward, Freewallet will provide the same services for the new coins as was provided for the old one. If you have any questions regarding the fork or need any kind of assistance please contact our support team.