Plans for Segwit2X

Will you be supporting Segwit2x?

Provided Segwit2x has sufficient support of the mining community, BTC Markets will support it. For contentious forks like this we must remain neutral and let the market decide.

What is Bitcoin Segwit2x?

Segwit2x is a proposed upgrade to Bitcoin that increases the Bitcoin block size from 1 MB to 2 MB. The upgrade will take place around November 16th (Block #494,784). As the date draws nearer we will be able to provide a more accurate time.

Do I need to do anything?

Users do not need to do anything. You can safely leave your funds with us. At the time of the fork a snapshot of all Bitcoin balances will be taken.  This will provide us with the option to restore balances from both chains should the fork prove contentious.

Can I send my Bitcoin to BTC Markets?

Yes. If you plan on moving BTC into your BTC Markets account, we highly recommend that you do so at least 24 hours before the fork to ensure your transfers are confirmed.

When will you stop Bitcoin trading, deposits and withdrawals?

Roughly 12 hours before the fork (block 494,784) we will disable BTC (Bitcoin) deposits and withdrawals and halt all Bitcoin trading pairs.  (we will notify this on twitter and facebook).

If the fork is contentious what are your plans?

If it is unclear which chain is the preferred and dominant chain way may open up markets for B2X.  We may also need to suspend Bitcoin trading longer until the dominant chain is clear.

When will you resume Bitcoin trading?

When it is safe to do so approximately 24 hours after fork we will resume trading. If the fork is contentious we may need more time to observe and decide. We will provide a summary of the fork before we resume to avoid confusion.

When will you resume deposits and withdrawals?

Deposits and withdrawals will resume when it is safe to do so. We need to conduct testing and implement replay protection. Be careful when sending funds after the fork as certain wallets and bitcoin services may refer to the two blockchains differently.


BTC Markets Team