Upcoming hard fork

[Omar3k2000]

I am new to cryptocurrency
I have some of my btc at blockchain.info wallet , the rest at poloniex
Regarding the upcoming fork , i want tomake sure i get the b2x (gold) coins
So should i move my poloniex funds back to blockchain wallet?
Or should i not use both ?

I have my 12 word recovery phrase of blockchain wallet ,, is it similar to having my private keys?
Or should i move my funds to another wallet where i can get my private keys?

Sorry for my bad english
And FYI , i live in egypt so it is difficult to get an offline wallet before the fork happens

Thanks in advance

[1715539375]

1715539375

[1715539375]

1715539375

[1715539375]

1715539375

[1715539375]

1715539375

[1715539375]

1715539375

[jackg]

I am new to cryptocurrency
I have some of my btc at blockchain.info wallet , the rest at poloniex
Regarding the upcoming fork , i want tomake sure i get the b2x (gold) coins
So should i move my poloniex funds back to blockchain wallet?
Or should i not use both ?

I have my 12 word recovery phrase of blockchain wallet ,, is it similar to having my private keys?
Or should i move my funds to another wallet where i can get my private keys?

Sorry for my bad english
And FYI , i live in egypt so it is difficult to get an offline wallet before the fork happens

Thanks in advance

How is it difficult to get an offline wallet, if you're referring to the 150GB download, I'd suggest you try electrum.org/#download as a software wallet.

That being said, your coins should be perfectly fine in blockchain wallet other than a security issue, the poloniex one will definitely not ive you your coins back so you might want to to either keep them on blockchain.info or send them to an electrum wallet (the wallet that's created is a maximum of a few hundred megabytes, it's very small comparitively). You can import your phrase from blockchain.info to electrum also so it does work like a private key.

[Omar3k2000]

Sorry sir,i meant wallet like ledger , trezor
I dont understand the difference between them and electrum?

But users of the blockchain wallet have not get their bitcoin cash yet , right .?

[Aura]

I am new to cryptocurrency
I have some of my btc at blockchain.info wallet , the rest at poloniex
Regarding the upcoming fork , i want tomake sure i get the b2x (gold) coins
So should i move my poloniex funds back to blockchain wallet?
Or should i not use both ?

I have my 12 word recovery phrase of blockchain wallet ,, is it similar to having my private keys?
Or should i move my funds to another wallet where i can get my private keys?

Sorry for my bad english
And FYI , i live in egypt so it is difficult to get an offline wallet before the fork happens

Thanks in advance

Best way to store your Bitcoins is keeping it offline in for example a paper wallet.
After the fork you can import your keys into the forks client and claim your Bitcoins.
But be sure to check if the client is official, otherwise your keys can get stolen, so do your real Bitcoins.
Or just transfer your official Bitcoins to a new paper wallet before claiming your forked coins.

With the 12 word recovery phrase you should be safe. You can decrypt it to your private and public key with a BIP39 Mnemonic tool.

[CjMapope]

I am new to cryptocurrency
I have some of my btc at blockchain.info wallet , the rest at poloniex
Regarding the upcoming fork , i want tomake sure i get the b2x (gold) coins
So should i move my poloniex funds back to blockchain wallet?
Or should i not use both ?

I have my 12 word recovery phrase of blockchain wallet ,, is it similar to having my private keys?
Or should i move my funds to another wallet where i can get my private keys?

Sorry for my bad english
And FYI , i live in egypt so it is difficult to get an offline wallet before the fork happens

Thanks in advance

not to push a third party service, but if you feel like you dont have enough info to make an informed decision yourself maybe you can just leave them on coinbase.
Coinbase has stated they will be honoring the split for this BTC gold or w.e the fudge it is
Keep in mind, coinbase is just like a bank, you dont have the keys, they are just being nice giving you your fork coins, move funds off there after ASAP to keys YOU control!

[jackg]

Sorry sir,i meant wallet like ledger , trezor
I dont understand the difference between them and electrum?

But users of the blockchain wallet have not get their bitcoin cash yet , right .?

Electrum's a piece of software you can download to store the coins. After this you can then put the coins back online.
Trezor and ledger aren't particularly necessary for this.

I am new to cryptocurrency
I have some of my btc at blockchain.info wallet , the rest at poloniex
Regarding the upcoming fork , i want tomake sure i get the b2x (gold) coins
So should i move my poloniex funds back to blockchain wallet?
Or should i not use both ?

I have my 12 word recovery phrase of blockchain wallet ,, is it similar to having my private keys?
Or should i move my funds to another wallet where i can get my private keys?

Sorry for my bad english
And FYI , i live in egypt so it is difficult to get an offline wallet before the fork happens

Thanks in advance

not to push a third party service, but if you feel like you dont have enough info to make an informed decision yourself maybe you can just leave them on coinbase.
Coinbase has stated they will be honoring the split for this BTC gold or w.e the fudge it is
Keep in mind, coinbase is just like a bank, you dont have the keys, they are just being nice giving you your fork coins, move funds off there after ASAP to keys YOU control!

If freebitco.in are doing this again then I can also say that they're fairly safe. I shoved 0.66BTC on there on the last fork and managed to claim back my bitcoin cash (although that came out as Bitcoin but at a nicely higher rate - it was quite satisfying to get 0.14BTC-1BCC when the exchanges were plumiting to ~0.08BTC).

[HCP]

not to push a third party service, but if you feel like you dont have enough info to make an informed decision yourself maybe you can just leave them on coinbase.
Coinbase has stated they will be honoring the split for this BTC gold or w.e the fudge it is
Keep in mind, coinbase is just like a bank, you dont have the keys, they are just being nice giving you your fork coins, move funds off there after ASAP to keys YOU control!

You mean like the way they "supported" the Bitcoin Cash fork... By not allowing anyone access to their BCH until February??!?

It's a bit hard to move your funds "asap" when the exchange doesn't actually allow you to move them

By Feb, there is a good chance that BCH will be trading at DOGE levels or not at all given it's current downward spiral... now at <0.07 BTC

[HeRetiK]

I am new to cryptocurrency
I have some of my btc at blockchain.info wallet , the rest at poloniex
Regarding the upcoming fork , i want tomake sure i get the b2x (gold) coins
So should i move my poloniex funds back to blockchain wallet?
Or should i not use both ?

I have my 12 word recovery phrase of blockchain wallet ,, is it similar to having my private keys?
Or should i move my funds to another wallet where i can get my private keys?

Sorry for my bad english
And FYI , i live in egypt so it is difficult to get an offline wallet before the fork happens

Thanks in advance

Bitcoin Gold and B2X are two separate hardforks. AFAIK there's no official statement from Poloniex yet regarding either of these forks, so I'd watch their site for future updates. If they don't explicitely state that they will support these coins I would move my BTC to an address where I actually have control over the private keys. Since you have your 12 word recovery phrase you should be fine, as this is where your private keys are derived from.

not to push a third party service, but if you feel like you dont have enough info to make an informed decision yourself maybe you can just leave them on coinbase.
Coinbase has stated they will be honoring the split for this BTC gold or w.e the fudge it is
Keep in mind, coinbase is just like a bank, you dont have the keys, they are just being nice giving you your fork coins, move funds off there after ASAP to keys YOU control!

You mean like the way they "supported" the Bitcoin Cash fork... By not allowing anyone access to their BCH until February??!?

[...]

Coinbase explicitely stated long before the BCH fork that they will not support the fork and that users that want access to their BCH should withdraw their BTC in time. In short, they never supported BCH in the first place. It was only after extensive pressure from the BCH community that Coinbase softened their previous stance and gave their users a timeline on when their BCH would be available for withdrawal.

[TheUltraElite]

In case of the hard fork it is always recommended to keep the bitcoin that you are willing to stockpile into the new altcoin in your wallet, the private keys of which you have control over. Never keep them in an exchange. I dont know about Poloniex but exchanges generally dont support the new fork until sometime and they may not provide you the new coins in they had the coins during the forking.

It better to withdraw them to your wallet - one where you have control of the private keys.