Good morning Steemians!
I think all of you who are holding bitcoins are scared about this big event. Different situatuations appearing.
Might be two types of Bitcoin tokens, Activated & Non-activated, BTC 1 & BTC 2 with two blockchains.
We have to take safety measures because this coin split can be very risky. And if you are not careful you will lose funds. We don't know if Bitcoin will increase or decrease in value after this split.
Which are advices from experts?
- Convert your Bitcoins in USDT.
- Hold Bitcoins only if you can afford to lose because price can decrease drastically.
- If you are storing your bitcoins on an exchange, (Bittrex or Poloniex) or in a custodial wallet like Luno, Coinbase, Circle or Xapo, or on any other service that holds your private keys for you, you may or may not receive coins on both ends of the chain.
- That's why it is better to create offline wallets and send your bitcoin to these wallets where you can access your private keys.
You have to know that Altcoins are unaffected by this upgrade but you know that if Bitcoin will increase or decrease in price altcoins will also suffer.
Recommended offline wallets: Coinomi, Mycelium, Copay.
Another advice is to avoid transactions around 1st August.
Resteem this post so your friends will know what to do and maybe to read more about this protocol.
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