The Bitcoin chain forked in 2017 twice, Bitcoin Gold and Bitcoin Cash were born. Later, Bitcoin Cash forked again. So how to claim and sell your free Bitcoin Cash (BCH) and Bitcoin Cash SV tokens?
“Cleaning my portfolio,” I wanted to sell Bitcoin Cash (BCH) and the attached Bitcoin Cash SV (Satoshi’s Vision, BSV). (Also known as BitcoinABC and BitcoinSV.) After the forks, the two coins remained in my same cold wallet, and I thought it was time to recover them now. It is like a gift, a free token, so better secure them to sell them soon, eventually.
Coinomi makes it difficult
I was hoping the Coinomi mobile wallet had an excellent solution because it helped me a lot before. It was practical, already by the forks of Bitcoin (BTC) => Bitcoin Cash (BCH) and Bitcoin (BTC) => Bitcoin Gold (BTG), in 2017. Indeed, they have solutions, but I could not solve my problem this time. This guide here is far from being clear for me. They wrote, for example:
How to split coins: Receive a new deposit into your BCH wallet of BCH that is already split…
How? To split your coins, do you need coins already split? Thanks. And after the splitting, there is another lengthy, 10-step procedure to claim your coins, seeming torture. I read they also had a splitting tool before, a banner to tap in their application. That may have been more simple, but they removed it last May.
I won’t bother you with all the details of my attempts. Better I describe the simple way I did it. Install the Exodus desktop wallet. It also has a built-in splitting and claiming tool. (In the asset menu, to the upper right on the screen of BCH, in the “hamburger menu.”)
First, I used Coinomi to “sweep” all the content of my BCH cold wallet to the application with the QR code. This moved all my BCH and BSV to the same BCH account in Coinomi. Second, I sent all the BCH to the Exodus software. (This moved both my BCH and BSV to the same account.) Then, the “Claim Bitcoin SV” tool in Exodus solved all my problems automatically in 5-10 minutes.
It is almost comfortable if you know how to do it. With this, you can sweep all BCH accounts where you have the private keys, I assume. I’m sure there are other methods, but this one was good enough for me.
Bitcoin Was $21,640 in 2017 Already!
I think, in reality, the top of the Bitcoin price wasn’t by 19,500 USD in December 2017. It was by 21,640-21,680 approximately. Because the day Bitcoin jumped over 19,500 USD, Bitcoin Cash was traded at 1,840 and Bitcoin Gold, on 299 USD. If you sold the three at the same time, you got 21,639 USD or some more.
Bitcoin Cash SV is now 350, BitcoinSV, 145 USD worth. So, don’t forget your forked coins, and claim them carefully. Or, at least, separate them from the original addresses to be ready to sell at high prices. (“Pumps.”)
Goodnight, girls, and boys. Let’s dream of a million-dollar Bitcoin price.
Recommended: The 9 Boldest Bitcoin Price Predictions (in 2021)
Update – how to sell Bitcoin Cash SV?
Selling BitcoinSV seems to be difficult, too. Binance crypto-exchange says it is “suspended” and “No Trading Market.” Exodus exchanges it for you to many other cryptos, but you pay a lot for the transaction. You spend almost four percent over the theoretical, indicative market price (BSV to Ether in my case). Maybe other exchanges are better, but I haven’t searched further.
(This post was initially published on Steempeak, the 14 August 2019.)
(Cover photo: Own work.)