Following statement has been issued by Coinbase with regards to the possible upcoming fork of the Bitcoin chain.
“We wanted to remind you that the upcoming Bitcoin Segwit2x fork is projected to take place on November 16 and will result in 2 bitcoin blockchains.
In our effort to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange, we are working to ensure we maximize your benefit from this event. So, following the fork:
- Any user storing Bitcoin on Coinbase at the time of the fork will be credited with an equal amount of the new Bitcoin2x asset on the Bitcoin2x blockchain. No action is required – we will automatically credit your account. If you have 5 Bitcoin stored on Coinbase before the fork, you will have 5 Bitcoin and 5 Bitcoin2x following the event.
- Coinbase users will be able to trade both Bitcoin and Bitcoin2x shortly after the fork.
- Coinbase will disable buys, sells, sends and receives for Bitcoin and Bitcoin2x approximately 24 hours before the fork. We will re-enable them following the fork once it’s safe to do so.