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Xapo Bitcoin Cash Update - December 2017

On Tuesday, August 1st at 1:16 pm UTC, the Bitcoin network experienced a fork. This event marked the birth of a new digital asset called Bitcoin Cash.



What is a fork?

A fork is a change to a digital currency's software that splits the blockchain into two separate blockchains. Bitcoin Cash was created on Tuesday, August 1st at 1:16 pm UTC after the Bitcoin blockchain split into two separate blockchains.

Everyone who had Bitcoin (BTC) on Tuesday, August 1st at 1:16 pm UTC, had at that time those Bitcoin plus an identical amount of a new currency called Bitcoin Cash (BCH).



What is the difference between Bitcoin (BTC) and Bitcoin Cash (BCH)?

Bitcoin Cash is not much different from Bitcoin itself. The main difference between Bitcoin and Bitcoin Cash is that Bitcoin Cash has much bigger block size (8 megabytes versus Bitcoin’s 1 megabyte) and that Bitcoin Cash does not implement Segregated Witness, a recent technical upgrade that was implemented by Bitcoin.



How does this affect me?

Since the newly created Bitcoin Cash originated from the same blockchain as Bitcoin, all Bitcoin owners at the time of the fork automatically became owners of Bitcoin Cash.

So, you have received Bitcoin Cash equivalent to the amount of Bitcoin that you held in Xapo at the time of the fork (at 1:16 pm UTC on August 1st). The amount shown in your BCH wallet is the sum of all the bitcoins you held in all your wallets and vaults at Xapo at the time of the fork. All your BCH have been aggregated into this BCH wallet for you.



End of 2017 Update

Xapo voluntarily set up a process to allow its clients to transfer or convert to BTC their Bitcoin Cash (BCH) balance, subject to the deadline of December 14th, 2017. As it was duly informed through several written communications and expressly stated in our TOU, not taking any action with your BCH before the deadline of December 14th, 2017 expressly allowed Xapo to convert your BCH balance to BTC.

The conversion of the BCH was done and completed as announced on December 14th (at 24:00 UTC).



Xapo will not support Bitcoin Cash

We would also like to remind you that Xapo only works with Bitcoin& and does not support any other cryptocurrency besides Bitcoin!

So remember, if you send Bitcoin Cash at any time to Xapo, you will lose those funds permanently.

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