With the Bitcoin Segwit2x hard fork a week away, cryptocurrency exchange Bittrex came forward and clarified its stance on the matter. Also, the two major players in the hardware wallet industry, Trezor and Ledger began preparations for the upcoming mid-November split.
In a statement published yesterday, Bittrex representative Julian Yap talked about the company’s dealing with Segwit2x: “The ‘BTC’ ticker will remain the Bitcoin Core chain before the hard fork block. Bittrex will observe the Bitcoin network for a period of 24 to 48 hours to determine if a chain split has occurred and the outcome. In the event of a chain split, ‘BTC’ will remain the existing Bitcoin chain with 1 MB blocks until the industry and ecosystem demonstrates a clear chain preference for Bitcoin.”
In the event of a chain split, ‘BTC’ will remain the existing Bitcoin chain with 1 MB blocks until the industry and ecosystem demonstrates a clear chain preference for Bitcoin.
All users who hold BTC in a Bitrrex wallet will be credited with B2X, the Segwit2x coin, on a 1:1 basis, in case of a split.
Also, the cryptocurrency exchange “will close deposits and withdrawals of Bitcoin (including 2nd layer protocol XCP/OMNI and associated assets) approximately 24 hours prior at block 494,640 to the Segwit2x fork block 494,784 occurring some time in mid-November.”
Trezor and Ledger Hardware Wallets Prepare Guidelines
If you want to hold your Bitcoins in your hardware wallet and NOT in an exchange (a more secure and safe course of action by the way), Trezor and Ledger got you covered.
“The TREZOR device supports both BTC and B2X (Segwit2x coin). For both coins, new and legacy addresses will be supported,” the company behind Trezor said in a statement.
Since there is no replay protection, the user will have to take additional steps to use both coins safely. The detail guideline to take control of both BTC and B2X ahead of time is a work in a progress at the time of the article but expect a release soon, prior to the hard fork.
The other major player in the industry, Ledger advises all its users “to avoid transacting during the event and wait for the dust to settle.”
According to Ledger’s own statement, “as for the previous Bitcoin Cash fork, we’ll let our users trade on both chains and split coins easily, even if the ride might be slightly more bumpy due to the fact that Segwit2x was not initially designed to cause a split.”
Ledger has some preliminary guidelines for the users who want to trade their BTC or B2X ahead of time but “it’ll be non-automated and recommended for advanced users only.”