bitcoin cash hard fork
Education, News

Bitcoin Cash trading reactivated

A couple of weeks ago, we suspended Bitcoin Cash trading because of a pending hard fork.

As of today, Bitcoin Cash has been reactivated and once again can be deposited, withdrawn, and traded in an Abra wallet.

You might remember that most exchanges and wallets put some kind of restrictions on trading Bitcoin Cash during the hard fork because it wasn’t immediately obvious which chain would become dominant (either the Bitcoin Cash ABC or Bitcoin SV).

After a couple of weeks of monitoring the post-fork hashing, it is becoming clear that Bitcoin Cash ABC is the dominant chain.

That’s why we have decided to follow the Bitcoin Cash ABC. Most Abra wallet users won’t have to take any action to resume depositing, withdrawing, or trading Bitcoin Cash just like before the fork.

What you need to know about the Bitcoin Cash in your Abra wallet

  1. BCH ABC: Abra is following the Bitcoin Cash ABC chain.
  2. Symbol: We have no immediate plans to update the Bitcoin Cash symbol in the Abra app, wallet, or on the website. Everywhere that you see BCH, it should be understood as Bitcoin Cash ABC.
  3. Other chains: We are not supporting Bitcoin SV (BSV) right now, but we will continue to monitor the outcome of the fork and we may consider supporting it in the future.
  4. Confirmations: In an effort to add a layer of protection, Abra will require 15 BCH block confirmations before completing transactions. This will take about 2.5 hours.
  5. Bitcoin SV Tool: We are developing a tool that will allow Abra app users to split out their BSV coins.  We will share more information on timelines and availability soon.
  6. Replay protection: We published a guide on how Bitcoin Cash holders interested in adding replay protection can add it to their wallets by using third-party tools  Please note that this process will happen outside of Abra, so there are risks associated.*

We will keep you updated with new information about Bitcoin Cash. If you have any additional questions regarding the Bitcoin Cash hard fork process, check out this support article, or please reach out to [email protected].

*Third-Party BCH Replay Protection Disclaimer

The links to third-party BCH Replay Protection Tools (the “Tools”) made available by Abra are provided “as is” without warranty of any kind, either expressed or implied and such software is to be used at your own risk.

The use of the third-party software links on this website is done at your own discretion and risk and with agreement that you will be solely responsible for any damage to your computer system or loss of data that results from such activities. You are solely responsible for adequate protection and backup of the data and equipment used in connection with any of the software linked to this website, and Abra will not be liable for any damages that you may suffer in connection with downloading, installing, using, modifying or distributing such software. No advice or information, whether oral or written, obtained by you from us or from this website shall create any warranty for the software.

Additionally, we make no warranty that:

  • The third-party software will meet your requirements.
  • The third-party software will be uninterrupted, timely, secure or error-free.
  • The results from the use of the third-party software will be effective, accurate or reliable.
  • The quality of the third-party software will meet your expectations.
  • If errors or problems occur in connection with a download of the third-party software obtained from the links on this website, they will be corrected.

The links to third-party software and the related documentation made available on this website are subject to the following conditions:

  • The software could include technical or other mistakes, inaccuracies or typographical errors.
  • At any time without prior notice, we may make changes to the links pointing to third-party software or documentation made available on the third-party’s website.
  • The software may be out of date, and we make no commitment to update such materials.
  • We assume no responsibility for errors or omissions in the third-party software or documentation available from its website.
  • In no event shall we be liable to you or any third parties for any special, punitive, incidental, indirect or consequential damages of any kind, or any damages whatsoever, including, without limitation, those resulting from loss of use, lost data or profits, or any liability, arising out of or in connection with the use of this third-party software.

About Abra

Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.

Why Abra

Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.

How Abra Protects Your Funds

Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.

Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.

Please visit our FAQ to learn more.