KuCoin Completes BCHABC and BCHSV Conversions and Opens Trading Service

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The cryptocurrency landscape is constantly evolving, and hard forks remain a pivotal force shaping digital asset ecosystems. In a significant move following the Bitcoin Cash (BCH) hard fork, KuCoin has successfully completed the conversion of all user-held BCH balances into both Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV). This marks a crucial milestone for users navigating post-fork asset management and trading opportunities.

Understanding the BCH Hard Fork and Asset Conversion

On November 16, 2018, at 00:40:00 (UTC+8), KuCoin took a snapshot of all user balances holding Bitcoin Cash. This snapshot served as the foundation for distributing newly created forked assets — specifically, BCHABC and BCHSV. The exchange applied a straightforward 1:1 conversion ratio: 1 BCH = 1 BCHABC and 1 BCH = 1 BCHSV. This ensured that users received an equal amount of both resulting tokens based on their BCH holdings at the time of the snapshot.

Following the conversion, original BCH trading pairs and associated balances have been disabled on the platform. This step was necessary to prevent confusion and ensure accurate tracking of the newly separated assets. Users no longer see BCH in their accounts but instead hold distinct balances for BCHABC and BCHSV.

👉 Discover how leading platforms handle blockchain forks with real-time asset distribution.

Trading Now Live for BCHABC and BCHSV

To empower traders with immediate access to market movements following the fork, KuCoin launched trading for multiple pairs involving the new assets. Starting at 6:00 PM on November 16, 2018 (UTC+8), users can trade the following:

These pairs provide liquidity across major base currencies, including Bitcoin (BTC), Ethereum (ETH), and the stablecoin Tether (USDT), giving traders flexibility in strategy and risk management. The introduction of USDT pairs is particularly valuable, offering a fiat-pegged option for those seeking reduced volatility when entering or exiting positions.

Market dynamics immediately after a hard fork can be highly volatile. With these trading pairs active, users are equipped to respond swiftly to price fluctuations, arbitrage opportunities, and shifts in community sentiment between competing chains.

Deposit and Withdrawal Status: Networks Still Stabilizing

While trading is now available, deposits and withdrawals for both BCHABC and BCHSV remain temporarily suspended. This precautionary measure is standard practice across reputable exchanges during the early stages of a hard fork.

Blockchain networks emerging from forks often experience instability, including potential replay attacks, consensus issues, or network congestion. By holding off on enabling transfers, KuCoin prioritizes the security of user funds and ensures transaction integrity once full node support and network confirmation rates stabilize.

Users are advised to monitor official announcements for updates regarding when deposit and withdrawal functions will resume. Rushing to enable these features prematurely could expose users to financial risk — a scenario responsible platforms aim to avoid.

About the Forked Assets: BCHABC and BCHSV

Bitcoin Cash ABC (BCHABC)

Bitcoin Cash ABC, or Bitcoin Cash Node, emerged as one of the primary contenders in the BCH hard fork. It represented the continuation of the original Bitcoin Cash vision with planned protocol upgrades, including smart contract functionality via the CashScript language and improved scalability features.

Official Project Site: https://www.bitcoinabc.org/ (Note: External link removed per guidelines)

Bitcoin Cash SV (BCHSV)

Bitcoin Cash SV — “Satoshi Vision” — was proposed by proponents who advocated for larger block sizes and strict adherence to what they believe were Satoshi Nakamoto’s original design principles. Its development focused on on-chain scaling and enterprise-level data processing capabilities.

Official Project Site: https://bitcoinsv.io/ (Note: External link removed per guidelines)

Both chains carry distinct philosophies and developer roadmaps, contributing to divergent community support and market valuations post-fork.

Frequently Asked Questions (FAQ)

Q: Why did KuCoin disable my BCH balance?
A: After the hard fork, Bitcoin Cash split into two separate blockchains — BCHABC and BCHSV. To reflect this change accurately, KuCoin converted all BCH holdings into the two new assets and disabled the original BCH balance to avoid confusion.

Q: Do I need to take any action to receive my BCHABC and BCHSV?
A: No action was required. If you held BCH on KuCoin at the time of the snapshot (November 16, 2018, 00:40:00 UTC+8), your assets were automatically converted at a 1:1 ratio for both forked tokens.

Q: When will I be able to withdraw BCHABC or BCHSV?
A: Withdrawals are currently paused to ensure network stability and security. KuCoin will announce the resumption of deposit and withdrawal services once the underlying blockchains demonstrate consistent performance and broad node validation.

Q: How does a hard fork affect my taxes?
A: Receiving new tokens from a hard fork may be considered taxable income in some jurisdictions (e.g., the U.S. IRS treats it as ordinary income upon receipt). Consult a tax professional to understand reporting obligations based on your location.

Q: Can I still trade BCH after the fork?
A: Direct BCH trading is no longer supported. However, you can trade its successor assets — BCHABC and BCHSV — against BTC, ETH, and USDT on KuCoin.

👉 See how top-tier exchanges manage hard fork events with transparent user communications.

Key Considerations for Post-Fork Trading

Traders should approach newly forked assets with caution. Price volatility tends to spike in the immediate aftermath due to speculative activity, unclear long-term viability, and differing levels of mining support. Technical analysis tools may be less reliable initially due to thin order books and erratic volume swings.

Additionally, community sentiment plays a major role in determining which chain gains dominance. Monitoring developer activity, exchange listings, merchant adoption, and miner hash rate distribution can offer insights into each chain’s sustainability.

Final Thoughts

KuCoin’s prompt execution of the BCH hard fork process — from snapshot to conversion to trading activation — reflects a commitment to user-centric operations during complex blockchain events. By clearly communicating timelines, maintaining asset security, and enabling fast market access, the exchange supports informed decision-making in fast-moving crypto environments.

As blockchain technology continues to mature, such forks may become less disruptive but no less significant. Staying informed about protocol changes, understanding asset rights, and using secure trading platforms are essential practices for every digital asset holder.

👉 Learn how advanced crypto platforms streamline hard fork handling for seamless user experiences.

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