eToro is cashing out Bitcoin SV for hodlers on their platform as the exchange will not support it moving forward.
Crypto exchange, eToro just released an official announcement on their website offering a “unique deal” to their customers who hold Bitcoin Cash.
According to the announcement, the exchange is currently in the process of “crediting” relevant users’ accounts with the equal USD amount using the rounded value of Bitcoin SV, which is calculated as $92.
“Although we’re not obligated to support forks, we are happy to announce that we decided to credit eToro clients who held long (BUY) non-leveraged Bitcoin Cash positions on November 15, 2018. We are in the process of crediting relevant users’ accounts with the dollar value of Bitcoin Cash SV coins at a price of $92 multipled by the number of Bitcoin Cash units held at the time of the fork,” the exchange stated.
When the process is completed, relevant users will be able to see the funds added to their “cashflows” page, on which they can decide whether to withdraw them or use them for trading.
While eToro has clearly stated that they’re not supporting Craig Wright’s Bitcoin version, other exchanges, like Coinbase and Gemini are still undecisive about the matter. Binance, Kraken and Bittrex, on the other hand, have made up their mind to support Bitcoin SV trading on their platform.
As of writing time, Bitcoin SV is now ranked at number 9 on the top 100 coins on Coinmarketcap with IDR 23,609,423,503,753 market cap.
Moreover, according to Invest in Blockchain, Bitcoin SV is prone to double spending and vulnerable to attacks, as seen on the video posted on Vimeo by a researcher named “Reizu”. This is somehow inconsistent with Craig Wright’s claim that the BSV network is resistant to such attacks.
Follow Chepicap now on Twitter, YouTube, Telegram and Facebook!