Zebpay Hard Fork Question

[btvGainer]

I have my bitcoin in Zebpay wallet .What will happen to them if hard fork happens? I have only small amount and need them handy for some quick transactions so I dont keep them anywhere else.
Where should I move them before fork?

[1715228085]

1715228085

[Blackshadow007]

Convert them to FIAT balance ? i guess FIAT balance will not be effected if any downfall happens during this Hard Fork thing .. don't know may be i am wrong .. but i use CS and i always keep balance as FIAT as BTC price having ups and down a lot lately .

[btvGainer]

Convert them to FIAT balance ? i guess FIAT balance will not be effected if any downfall happens during this Hard Fork thing .. don't know may be i am wrong .. but i use CS and i always keep balance as FIAT as BTC price having ups and down a lot lately .

I dont want to convert them to fiat at current price.I believe chances of hard fork is negligible and btc price will shoot up once this issue is over.
But in some very unlikely situation that hard fork happens, then I would prefer to have both btc and bu.

[cryptoheadd]

Check this out: https://blog.zebpay.com/zebpay-users-and-bitcoin-hard-fork-391ace22e256?gi=b0ce4ba438f8

I'd recommend withdrawing your Bitcoins from Zebpay to an HD wallet so you have access to your keys and you'd be able to claim your BUs in case of a hardfork.

[Blackshadow007]

Convert them to FIAT balance ? i guess FIAT balance will not be effected if any downfall happens during this Hard Fork thing .. don't know may be i am wrong .. but i use CS and i always keep balance as FIAT as BTC price having ups and down a lot lately .

I dont want to convert them to fiat at current price.I believe chances of hard fork is negligible and btc price will shoot up once this issue is over.
But in some very unlikely situation that hard fork happens, then I would prefer to have both btc and bu.

well btc price rising now as i see .. But again its my habit to keep balance in fiat for daily to daily trade outcomes

[susila_bai]

Check this out: https://blog.zebpay.com/zebpay-users-and-bitcoin-hard-fork-391ace22e256?gi=b0ce4ba438f8

I'd recommend withdrawing your Bitcoins from Zebpay to an HD wallet so you have access to your keys and you'd be able to claim your BUs in case of a hardfork.

What you are suggesting is correct , whether you keep it in HD wallet or desktop hardware wallet like Electrum, where you can get both btc and bu coins as you will be having private keys of your wallet address. and it is always recommended not to keep bitcoins in exchanges as they are not safe as you are not in hold of your private keys for your wallet.

[newinbtc]

I have my bitcoin in Zebpay wallet .What will happen to them if hard fork happens? I have only small amount and need them handy for some quick transactions so I dont keep them anywhere else.
Where should I move them before fork?

Basically it depends where your wallet/coins are.

1. If you use a online wallet/service, you are locked into chain that they choose.  Your coins will be valid still but on that single new chain.

2. If you use a wallet you control, depends on what chain you connect to.  But, just using a local wallet, or a hardware wallet, at least you'll in time be able to choose a chain or other wallet provider you chose by configuration or by restoring your private key seed to a service on the chain you want to transact on.

Technically you could on both I guess if they remain forked after a while and there is not safeguards in place by exchanges/exit ramps to broadcast on both.

[lordquanta]

Two options straight forward:
1. Move your bitcoins from online wallets like zebpay, unocoin, etc and also from exchange wallets like from coinsecure, localbitcoin etc  TO your desktop wallet or mobile wallet or hardware wallet. Point is move your bitcoins to the wallet whose private keys will be with you.
2. Encash your bitcoins to fiat or alt-coins

DO NOT keep your bitcoins in online wallets, as if hard fork happen then online wallet will bear no responsibility of your bitcoin.

[btvGainer]

Check this out: https://blog.zebpay.com/zebpay-users-and-bitcoin-hard-fork-391ace22e256?gi=b0ce4ba438f8

I'd recommend withdrawing your Bitcoins from Zebpay to an HD wallet so you have access to your keys and you'd be able to claim your BUs in case of a hardfork.

Thanks for pointing me to this.I find this interesting We have started working on supporting alt coins (that is, other crypto currencies besides bitcoin or different versions of bitcoin). So if required and if technically feasible, we will be able to support both versions of bitcoin in future..
Hardware wallet is not for me so I would prefer desktop wallet if need arises.I hope zebpay upgraded their wallet by then and I do not nee to do it

[Blackshadow007]

Two options straight forward:
1. Move your bitcoins from online wallets like zebpay, unocoin, etc and also from exchange wallets like from coinsecure, localbitcoin etc  TO your desktop wallet or mobile wallet or hardware wallet. Point is move your bitcoins to the wallet whose private keys will be with you.
2. Encash your bitcoins to fiat or alt-coins

DO NOT keep your bitcoins in online wallets, as if hard fork happen then online wallet will bear no responsibility of your bitcoin.

I did option 2 ; Encash to FIAT and do day to day trade .

[btvGainer]

Two options straight forward:
1. Move your bitcoins from online wallets like zebpay, unocoin, etc and also from exchange wallets like from coinsecure, localbitcoin etc  TO your desktop wallet or mobile wallet or hardware wallet. Point is move your bitcoins to the wallet whose private keys will be with you.
2. Encash your bitcoins to fiat or alt-coins

DO NOT keep your bitcoins in online wallets, as if hard fork happen then online wallet will bear no responsibility of your bitcoin.

I did option 2 ; Encash to FIAT and do day to day trade .

Zebpay is not the right place for day trading.Agree that I am nor a pro trader but I doubt anyone has ever made any profit with day trading on btc.
Say you sell today at 63k now to make profit you must buy back at less than 63k or atleast at 63k.
Given high buy sell difference at Zebpay, it is not possible to buy back at your sell price soon.