We wanted to give our customers an update on the upcoming Bitcoin SegWit2x hard fork in November 2017. You can read more about what a digital currency fork is here.
We operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. This is essential in our mission to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange.
Customers with bitcoin balances stored on Coinbase at the time of the fork will have access to bitcoin on both blockchains. There is no action required from customers and bitcoin can be securely stored on Coinbase before, during, and after the fork.
After the fork, we will enable access when we have determined each blockchain is secure and stable. We expect this to happen within a few days after the fork, but it may take longer if additional risks emerge.
We are currently working on the engineering and security requirements for each bitcoin blockchain — as well as continuing the work to enable Bitcoin Cash withdrawals.
In the coming weeks — nearer to the date of the fork — we will provide a more detailed plan for how Coinbase will approach naming the two Bitcoin blockchains.
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