Bitcoin Cash (BCH) will undergo a hard fork on November 15 as part of a scheduled protocol upgrade. This controversial upgrade is expected to result in two separate chains: Bitcoin Cash Node (BCH) and Bitcoin Cash ABC (BAB). Here’s how Kraken will handle the fork and what clients need to know.
Key Details of the Fork
- Date & Time: November 15, ~12:00 PM UTC (exact timing depends on MTP-11 block validation).
- Dominant Chain: Bitcoin Cash Node (signaling ~70% of blocks) is expected to prevail.
Kraken’s Support:
- BCH (Bitcoin Cash Node): Fully supported post-fork.
- BAB (Bitcoin Cash ABC): Supported only if its hashpower reaches ≥10% of BCH’s network.
Kraken’s Fork Plan
Supported Tokens
- BCH: Will retain the "Bitcoin Cash" ticker on Kraken.
- BAB: If supported, it will be listed as "Bitcoin Cash ABC" (ticker: BAB).
Client Balances
- Clients holding BCH at fork time will receive 1:1 BAB credits (if BAB meets hashpower criteria).
Margin Traders:
- Long positions: Credited with BAB.
- Short positions: Debited with BAB (may require balance correction).
Trading & Funding
- BCH Trading: Continues uninterrupted.
- BCH Funding: Halted ~2 hours pre-fork; resumes post-fork for BCH (Node) only.
- BAB Trading: Decision pending; may be limited to deposits/withdrawals.
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FAQ Section
1. Should I move my BCH before the fork?
Yes. Withdrawing to a private wallet ensures full control over both potential chains.
2. What happens if BAB isn’t supported?
Kraken will only credit BCH (Node) balances. BAB tokens won’t be accessible on the platform.
3. Can I trade BAB immediately after the fork?
No. BAB trading depends on Kraken’s discretion and network stability.
4. How are margin positions affected?
- Longs: Receive BAB.
- Shorts: Owe BAB (must cover negative balances).
5. Is there replay protection?
Yes. Post-fork BCH transfers will only apply to the Bitcoin Cash Node chain.
Warnings
- Volatility: Expect extreme price swings around the fork.
- Margin Risks: Close positions pre-fork to avoid forced liquidations.
- No Guarantees: Kraken reserves the right to modify support based on network conditions.
👉 Follow Kraken’s status page for real-time updates.