What is a hard fork and how does Bitvavo handle them?

A hard fork is a change in the software of a digital currency, which could lead to different sorts of digital currency. If a blockchain ‘forks’, the previous blockchain has been split. Ideally all users continue to only use one of the chains and do not support the other. If both of them are still supported, two new coins with the same historty have been created.

Example

An example of a hard fork where both parts were supported is the Bitcoin/Bitcoin Cash fork.

How does Bitvavo handle a hard fork ?

Even though Bitvavo would like to support every hard fork, this this unfortunately not possible from a security and technical point of view. Because of this, Bitvavo checks on a case by case basis whether a hard fork can be safely supported. If you want to stay up to date with which hard forks Bitvavo supports, make sure you are subscribed to the newsletter or contact our support team by sending an email to support@bitvavo.com.

Recommendation

If you want to ensure that you receive both parts of the hard fork, the best way to do so would be to withdraw your digital currency to your own wallet or another extern wallet that does alsways the hard forks. How you can easily withdraw your digital currency to an extern wallet is explained in more detail here.


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