Lykke Will Only Support Bitcoin Cash Node (BCHN)

On November 15, 2020, around 12:00 PM UTC the Bitcoin Cash (BCH) network will undergo a protocol upgrade that will split the chain between Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN).

Lykke formally announces that it will only support Bitcoin Cash Node. This means that the BCH held on your Trading Wallet at the moment of the fork will be converted to Bitcoin Cash Node (BCHN) using the same ticker symbol “BCH”.

What will happen to my Bitcoin Cash ABC (BCHA)?

It is important to point out that Bitcoin Cash ABC (BCHA) will not be supported right after the fork. If you wish to claim your BCHA coins after the fork, we kindly suggest you to cash out your BCH before the 14th of November at 12:00 PM UTC.

At the moment we are not planning on listing BCHA on Lykke Exchange, we will evaluate the situation after the fork and decide what is best for our users.

This is what users can expect to happen:

  • BCH deposits, withdrawals, and trading will be halted from the 14th of November at 12:00 PM UTC.
  • All active BCH orders will be canceled.
  • BCH deposits, withdrawals, and trading will stay disabled until the fork is completed and our development team believes it is safe to enable normal operations.
  • Bitcoin Cash Node coins will be called “Bitcoin Cash” on our platform and represented by the ticker symbol “BCH”.
  • Index market making will run with reduced volumes and increase spreads during that time.

We would like to clarify that by only supporting Bitcoin Cash Node, we will not support any type of wrongly cross-chain deposits.

Should you have any further questions, please do not hesitate to contact us at support@lykke.com

Latest from Lykke.

Subscribe to our newsletter for the latest news, industry insights and product updates straight to your inbox.

How decentralized is the Bitcoin network nowadays?

Do you like Bitcoin because of its decentralized authority structure? Or perhaps you are interested in conspiracy theories? Well, in any case, take a big breath while we dive into one of the most interesting topics surrounding the Bitcoin network where we try to answer how decentralized is the network nowadays and what led us to this point.

Continue reading

The Value of Bitcoin

Unless you took the self-isolation to the extreme and you ended up practicing social media abstinence, you are assumedly aware of some of the recent events that allegedly led Bitcoin to the all-time highs we are all currently enjoying. So take a big breath while we break down the recent events of the crypto world and what they mean.

Continue reading

FCA - New Regulations Explained

The FCA created a Temporary Registration Regime to concede existing crypto-asset firms, which have applied to be registered with the FCA, to continue trading. It is important to note that this Temporary Registration Regime is only available to existing crypto-asset firms which have applied for registration before December 15th, 2020. New firms will need to obtain full registration with the FCA before conducting business.

Continue reading

What is a crypto-fiat gateway?

A fiat gateway is a combination of words that you will frequently hear if you decide to enter the cryptocurrency world and buy Bitcoin or other cryptocurrencies in a crypto app. To understand its meaning and function, you have to understand what fiat means. Fiat means simply conventional money, it refers to national currencies the government’s issue not backed by any commodity. It derives from the Latin word fiat (from “facere” - make/do, present passive subjunctive “let it be done”) and we can assume that it implies a deal - let it be done!

Continue reading

What is a Coin Burn?

As new tokens are mined and enter circulation every day, cryptocurrencies need to ensure that the market is not oversaturated with supply. After all, prices in the digital currency market are almost entirely dictated by the economic principle of supply and demand.

Continue reading