Coinbase users can withdraw Bitcoin SV to external wallets

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Coinbase, the major crypto exchange, has announced in a blog published yesterday that its users can now make withdrawals of Bitcoin SV (BSV) to external wallets.

Bitcoin SV (Satoshi’s Vision) is a competing chain that emerged at the time of the last Bitcoin Cash (BCH) hard fork and was led by Australian computer scientist Craig Wright, who has previously declared himself to be Bitcoin creator Satoshi Nakamoto.

The blog says, “When the hard fork occurred, the BSV blockchain used the amount of BCH associated with an address at the time of the fork to determine the amount of BSV that would be allocated to the parallel address on the BSV blockchain,” adding, “the amount of BSV now available in respective customers’ Coinbase.com accounts is the same as the amount of BCH that was in their Coinbase (Coinbase.com and Coinbase Pro) account at the time of the hard fork.”

Coinbase users can’t buy or sell BSV, but they can send their BSV balance to an external wallet. Coinbase supplies instructions for doing this at the blog link above.

Other exchanges supporting both BCH forks include Kraken, although it warns that it cannot offer “perfect custody” offer BSV due to attacks originating from nChain or its affiliates. Blockchain.com, a crypto wallet provider, also announced limited support for BSV in January, saying that its users could have “some of the same options with BSV” as with its four other hosted cryptocurrencies, BTC, ETH, BCH and XLM.

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