How Tradeqwik Will Handle the Upcoming Bitcoin Hard Fork

As of this morning, Tradeqwik now boasts 783 users. Monday morning should be exciting in terms of dividend payments.

But the question on everyone's mind, when it comes to their cryptocurrency trading platform, is this: what are you going to do about the August 1st Bitcoin hard fork?

That can be a tough question to answer, because it's not entirely clear what Bitcoin is going to do when the hard fork takes place, or more specifically, what all the Bitcoin miners are going to do.

Tradeqwik is prepared. Bitcoin may weather the hard fork and come out on the other side as one universally recognized Bitcoin, or it might fork off into two or three different versions of Bitcoin. Tradeqwik is ready to support all forms of Bitcoin that exist after the hard fork. So let's say your post hard fork Bitcoin deposit comes from fork A. Then your Tradeqwik balance will show you as holding Bitcoin-A. If you make a second deposit that happens to be on fork B, then your Tradeqwik balance will show you as holding Bitcoin-B, and so forth. Tradeqwik will not take a stand as to which BTC is the right one or the real one. We'll simply support all of them. You get to decide which Bitcoin to buy more of and which to unload in a hurry. We are working on ways to make that part real easy.

Tradeqwik will shut down BTC deposits and withdrawals 48 hours before the fork takes effect. You'll want to be done with any kind of external Bitcoin transactions on Tradeqwik by July 28 or 29. You will still be able to trade Bitcoin, just not deposit or withdraw it. Deposits and withdrawals will be re-enabled 72 hours after the hard fork or when the market has had a chance to settle.

This means that Bitcoin deposits and withdrawals on Tradeqwik will be disabled for five days, possibly longer. It can be pretty scary to have your trading platform shut down deposits and withdrawals of a coin you hold for almost a week, especially if you didn't see it coming. This is why we want to tell you about it now, so you know it's coming and can plan accordingly.

In upcoming articles we will talk more about the VIVA Peg increase and announce a contest with more to win than an upvote. Anyone want to take a guess at what it might be? I'll give you a hint: it's about you providing something Tradeqwik needs for a shot at a prize. All good guesses will get upvoted.

Hive account@tradeqwik followed a bunch of customers last night. If you're still not being followed, please reach out with your VIVA ID and we'll follow you.

Not a Tradeqwik customer yet? Sign up. It's free to join.

Have a great weekend, and be on the looking Monday morning for a celebratory dividend payment.

One last thing before we go... the numbers.

Trading fees collected since last TQS dividend payout

Customer funds under Tradeqwik management