We are happy to announce Bitcoin Cash withdrawals on Vaultoro.
We are making Bitcoin Cash withdrawals available within the next 24 hours to all users (Sunday 19th 5pm CET – Monday 20th 5pm CET) . Users will be gradually transitioned. If you are eligible for Bitcoin Cash (You had more than 0.001 BTC) in your account before August the 1st you will see a new Bitcoin Cash section on your “holdings” page.
You will be able to withdraw all your Bitcoin Cash at once to any Bitcoin Cash wallet except Bitpay/Copay wallets (Their Bitcoin Cash addresses are starting with “C”)
If you withdraw Bitcoin Cash to a not Bitcoin Cash Wallet your coins are lost.
But Vaultoro, why did it take so long with the Bitcoin Cash?
The functionality to withdraw Bitcoin Cash from our platform has been developed for a while now, but we had difficulties to access Bitcoin Cash in our different wallets. To keep our users funds safe, we store all Bitcoin in different wallets, some from different developers. While some of these wallet developers provided us quickly with a solution to split Bitcoin and access Bitcoin Cash, other wallets had problems to integrate a proper solution, especially the multi-signature wallets we use.
A fork of Bitcoin or any coin comes with challenges, especially for the users do not know much about the technology. Any hard fork in the future should have always users funds safety in mind. Also forked coins can be forked again and so on.
We hope for the sake of the ecosystem that it will be a smooth transition. We hope that, with many actors and incentives at play, the users are not the ones which have to suffer.
Thank you all for your support.