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. In the best case scenario all the users only use of the chains and don not support the other. If both of them are still supported, two new coins have been created with the same history.

Example

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

What does Bitvavo when a hard fork happens?

Even though Bitvavo would like to support every hard fork, this this unfortunately not possible from a security and technical standpoint. Because of this, Bitvavo checks on a case by case basis if 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 be sure that you receive both parts of the hard fork, the best way is to withdraw your digital currency to your own wallet or other extern wallet that support the hard fork. How you could easily withdraw your digital currency to an extern wallet is explained in more detail here.


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