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Bitcoin hard fork how to claim.After the Forks: How to Claim Bitcoin Cash, Bitcoin Gold, and Bitcoin Private

 

Bitcoin hard fork how to claim.

 
If you still want to claim your forked coins, you’ll need to find a wallet that supports the forked coin which also supports the importing of private keys. As an example, Exodus has such a feature for the currencies we support. Most client-side or software wallets will have such a feature. Feb 25,  · While Bitcoin Cash may have catalyzed the hard fork frenzy, off-shoots of bitcoin have been an on-going phenomenon. This guide covers the most successful bitcoin hard forks and will explain how you can claim your coins once a hard fork has Estimated Reading Time: 9 mins. Aug 15,  · Step 1: Sweep. In order to access your BCH, you will need to expose the private key corresponding to the coins you wish to claim. The problem is, as noted above, this same private key will also unlock your Bitcoins on the main chain. Exposing your private key .

Post navigation.Bitcoin: How to claim your BitcoinCash after the Hard Fork – Curving Space

 
 
Aug 15,  · Step 1: Sweep. In order to access your BCH, you will need to expose the private key corresponding to the coins you wish to claim. The problem is, as noted above, this same private key will also unlock your Bitcoins on the main chain. Exposing your private key . If you still want to claim your forked coins, you’ll need to find a wallet that supports the forked coin which also supports the importing of private keys. As an example, Exodus has such a feature for the currencies we support. Most client-side or software wallets will have such a feature. Feb 25,  · While Bitcoin Cash may have catalyzed the hard fork frenzy, off-shoots of bitcoin have been an on-going phenomenon. This guide covers the most successful bitcoin hard forks and will explain how you can claim your coins once a hard fork has Estimated Reading Time: 9 mins.
 

 

Bitcoin hard fork how to claim.

 
If you still want to claim your forked coins, you’ll need to find a wallet that supports the forked coin which also supports the importing of private keys. As an example, Exodus has such a feature for the currencies we support. Most client-side or software wallets will have such a feature. Feb 25,  · While Bitcoin Cash may have catalyzed the hard fork frenzy, off-shoots of bitcoin have been an on-going phenomenon. This guide covers the most successful bitcoin hard forks and will explain how you can claim your coins once a hard fork has Estimated Reading Time: 9 mins. Aug 15,  · Step 1: Sweep. In order to access your BCH, you will need to expose the private key corresponding to the coins you wish to claim. The problem is, as noted above, this same private key will also unlock your Bitcoins on the main chain. Exposing your private key .
 
 
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related:

What Is a Hard Fork and Why Do They Happen?

How Many Hard Forks Are There?

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The fork itself was relatively uneventful, which is a testament to the technology underlying Bitcoin. The currency has survived, not because it has never yet been attacked, but rather because it is designed to survive DESPITE continuous attacks.

This proved true once more after the fork. And then the truly strange happened: everyone with Bitcoins suddenly got free money. Like, actual free money. There are a thousand combinations of Bitcoin users, but I fell into the above category and had a hard time figuring out how — exactly — to actually do something with my BCH. Thanks to some Reddit users and google searches, I eventually managed and decided to make a quick how-to for anyone in a similar situation. Despite the specificity, other cold-storage forms and other countries of citizenship may find parts of this useful.

Things get a little confusing when we start talking about forks and multiple blockchains. It is important to understand what is going on behind the scenes so you do not expose Private Keys or otherwise cause your Bitcoins to be non-secured. Let me summarize the key understanding before we go on. Bitcoins all exist on the blockchain. Every single coin that exists is noted in the blockchain and is owned by a particular public key.

In order for a transaction to include a particular coin e. I can randomly pick a thousand coins and make a transaction sending them all to me, but the Bitcoin network will reject the transaction when I am not able to provide the proper private key needed to unlock the coins in question. When someone comes along and clones the Bitcoin network and gives it a new name which is the essence of a fork they will have the same record of all existing coins, and the same record of all coin assignments.

This means your same private key works on the new network, just as it did on the old one. A two-year disagreement between developers of Bitcoin came to a parting of ways. When differences could not be reconciled, a portion of the community decided to just go their own direction. They installed an incompatible version of the Bitcoin network code onto their mining platforms and local machines, took a copy of the existing blockchain, and carried on.

This new code was such that it rejected any blocks coming from the old network, and the old network rejected any blocks coming from the new network.

As a result, the two immediately went their own way, each blockchain ignoring the other. The result is that all coins connected to private keys you control were duplicated. One version sat on the old network, and another version sat on the new network. It also meant that spending and receiving money suddenly forked as well, because now transferring money on one chain has no effect on the other chain. The key here is this: The same private key now unlocks two coins, but those coins are not otherwise linked or connected.

In order to access your BCH, you will need to expose the private key corresponding to the coins you wish to claim. The problem is, as noted above, this same private key will also unlock your Bitcoins on the main chain.

Exposing your private key is, therefore, a significant security risk. To get around this, you should first move your existing cold Bitcoins to a brand new address with its own Private Key. This will only affect the coins on the Bitcoin network side, but it will ensure that when you expose your private key in the next step on the BCH network, there is no risk of an attacker trying to unlock corresponding BTC coins.

If they do try, they will find a zero balance since that version of the coin has been moved. I do this through blockchain. In blockchain. Here you will enter the public address of you current paper wallet, the one containing coins you need to move.

This TO address should be brand new, and thus using a private key that is not associated with any of your coins on the BCH network. You will need to expose your private key now, but your risk is reduced by 15x since the coin on the BCH side is worth that much less. Note: Blockchain. If your paper wallet private key is encrypted, as mine are, you will be prompted for the encryption password in order to complete the sweep. This is safe to do. Repeat this for any other paper wallets you control.

At the end of this step, all of your coins will belong to NEW private keys on the main blockchain, but on the new BCH blockchain, all of the same keys we just used still control the corresponding coins there. Now that your Bitcoins are safe, you want to unlock your BitcoinCash still stored at those old paper wallet addresses. For this, you need a wallet software that knows how to connect to the new network.

Launch the software and create a new standard wallet. Once that is setup, you will have an empty wallet that is connected to the BCH network. Now you need to import the private keys you just used on blockchain in order to access the corresponding coins on this side. If you use BIP, ElectronCash does not allow you to import the encrypted private key the way blockchain.

An extra step is required! Paste in your Private Key, and provide the passphrase. Click the Decrypt button, and let it spin, then your unencrypted Private Key will be printed down below.

You can copy the WIF compressed format or the standard noncompressed format. Note: entering your private key into a website is typically a bad idea. Since we already secured our Bitcoins and are about to move our BCH from this key, the procedure is relatively safe. The password is not uploaded to the server, but there is always a risk that the site is hacked and manipulated.

If you use this same password on other cold wallets or are otherwise security paranoid, you can disconnect your network once the site is loaded. Even better, get a USB-bootable Ubuntu and complete this step in an offline virgin OS as you should have done when you created your paper wallets in the first place! Enter your non-encrypted private key in the text box or multiple, if applicable, one per line.

COM does not validate US citizens, etc. Create the free account, complete the validation, then you want to transfer your money into the platform. I recommend doing a small amount initially and stepping through the entire process before you send large quantities of funds. In any case, on this page, you will see a recipient address that you can use to transfer your BitcoinCash into the system. Copy that address.

When you are ready, hit SEND. You can track the progress of the deposit using any blockchain browser for BCH. I prefer Blockdozer since it is most similar to blockchain. The address is this format:. It takes some time to get confirmations since the hash power on the BCH network is much lower than the main BTC network, so be patient.

Wait until you get 20 confirmations since ViaBTC prevents you from withdrawing prior to that anyway even though they let you trade earlier. In my experience, selling was instant. Now that you have BTC funds, you can withdraw them to your normal exchange, such as Coinbase, or else send them to your paper wallet. Provide the address of your paper wallet, or else the recipient address from your exchange.

Here you can send the funds you traded out to the address you just added above:. And that is it! Nobody can predict what might happen.

In any case, if you decide not to sell some or all of your BCH, you should still sweep it to a new address, just like we did for the BTC. Otherwise, you can use ElectronCash to send the coins to a new paper wallet, created the same way you would for a normal Bitcoin paper wallet. Good day! Do you know if they make any plugins to protect against hackers?

Any recommendations? Such a detailed lenghthy piece of good work! Thx for the help!!! However I wondee if i can do it without mess up big time myself!

Just reading it already get my head spining!!! Imagine for a person who only use computer for normal work. It killed half of brain to just set up paper wallet, offline stored some coins. The fork free money will kill the other half!!!

Talking about possible 3rd bitcoin is coming, do we have to do it all over again??? Your email address will not be published. Skip to content. So how do you actually get that cash? How do you access the coins on the new blockchain? Who this tutorial is for: If you had Bitcoins in paper wallet cold storage prior to the fork If you leverage BIP to encrypt your paper wallet private keys If you are a USA citizen There are a thousand combinations of Bitcoin users, but I fell into the above category and had a hard time figuring out how — exactly — to actually do something with my BCH.

A few basics Things get a little confusing when we start talking about forks and multiple blockchains. What happened on August 1st, ? Step 1: Sweep In order to access your BCH, you will need to expose the private key corresponding to the coins you wish to claim. Import your private keys Now that your Bitcoins are safe, you want to unlock your BitcoinCash still stored at those old paper wallet addresses.

Withdraw your BTC Now that you have BTC funds, you can withdraw them to your normal exchange, such as Coinbase, or else send them to your paper wallet. Here you can send the funds you traded out to the address you just added above: And that is it!

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