Fork Watch: Japanese Exchanges Embracing Bitcoin Cash Post-Fork

As Bitcoin Cash (BCC, BCH) blocks are being mined, all major Japanese exchanges are gearing up to credit their customers with the new cryptocurrency. A growing number of exchanges have already set a date to start trading Bitcoin Cash, while others are still in the planning stage.

Also read: How Japanese Exchanges Prepares to Deal with Forked Bitcoin Cash

Following the August 1 hard fork, all major Japanese bitcoin exchanges announced that they will soon credit their customers with Bitcoin Cash, the new cryptocurrency created as Bitcoin’s blockchain diverged into two separate blockchains today. For every bitcoin held by customers at the time of the fork, the same number of BCC will be credited to their accounts.

Meanwhile, all of them have suspended bitcoin deposits and withdrawals during the fork, and some are preparing to list BCC for trading in the next couple of days. Below is a roundup of all major Japanese exchanges that have updated their plans for Bitcoin Cash in the wake of the hard fork at press time.

Exchanges Planning to Trade Bitcoin Cash was among the first few Japanese exchanges to announce its support for Bitcoin Cash. The exchange expects to start trading BCC on August 3. Bitcoin deposits and withdrawals are currently suspended, since July 31 at 15:00 Japan time, and are expected to restart on August 2.

Bittrade plans to allow BCC withdrawals as well as trading but the exchange will make an announcement on August 3. Meanwhile, bitcoin deposits and withdrawals have been suspended as of July 31 at 15:00 Japan time and are expected to resume on August 2.

Bitflyer had been taking a wait-and-see approach regarding Bitcoin Cash. However, on July 31, the exchange announced that it had determined that BCC is a permanent chain and promptly launched a Bitcoin Cash campaign to boost its business. Customers depositing 1 or more bitcoins between July 31 at 21:20 and August 1 at 21:19 Japan time will be entered into a drawing to receive 1,000 yen cash. 100 customers will be selected. The exchange also announced that BCC trading service will be offered “soon”.

Bitpoint has scheduled BCC spot trading for “around mid-August.” Bitcoin deposits and withdrawals are currently suspended and are scheduled to resume on August 2 at 16:00 Japan time, when BCC deposits and withdrawals will also be available.

Btcbox originally scheduled to start BCC trading on August 1 at 22:00 Japan time. However, the exchange has postponed the launch, citing that the length of time required for BCC block generation is uncertain. Bitcoin deposits and withdrawals were halted between July 31 at 16:00 and August 1 at 8 pm Japan time. At press time, BCC trading on the exchange has not begun.

Exchanges That Will Announce BCC Trading Later

On August 1, Coincheck updated its Bitcoin Cash policy, stating that it will grant them to customers “after the hard fork only when replay attack prevention is confirmed.” The exchange halted deposits and withdrawals on July 31. Deposits were restored on August 1, but withdrawals are still suspended at press time.

Fisco announced their “plan to make all deposits and withdrawals possible for the virtual currency after branching.” However, for BCC trading on the exchange, “we will judge after confirming the situation,” the exchange noted.

GMO-Z Coin
GMO-Z Coin announced on Tuesday that the trading of BCC will be announced at a later date. The exchange is currently working on crediting customer accounts with Bitcoin Cash. Once the new coins are showing inside the accounts after logging in, they can be withdrawn, the company detailed.

Quoine announced that their customers “will be allowed to withdraw the BCC credited.” However, regarding the trading of BCC, the exchange added: “we may offer trading of BCC against fiat and BTC at a later time.”

Tech Bureau’s Zaif exchange suspended bitcoin deposits and withdrawals on August 1 but has yet to announce when they will resume these services. The company has stated that “as a general rule, you can buy and sell coins after forking,” adding that more details including the trading of BCC will be released after confirming the situation.

What do you think of Japanese bitcoin exchanges’ Bitcoin Cash policies? Let us know in the comments section below.

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