On Tuesday 1 August 2017, the Bitcoin network forked and formed two separate blockchains. Don’t be alarmed. Your Bitcoin is safe at Luno.
In fact, if you had a Bitcoin balance in your Luno wallet at the moment of the fork, you now have the same balance on the new blockchain. This new digital currency is called “Bitcoin Cash”, “BCash” and uses the currency code “BCH” or “BCC”. Luno uses BCH as the currency code.
More information about the fork can be found here.
You have no obligation to take any action. You can hold onto your BCH at Luno if you wish.
Luno supports the following features:
Send your BCH to any other wallet or exchange that supports BCH
Sell your BCH for Bitcoin
Luno can only process a limited volume of BCH to BTC conversions per day due to the early stage of the BCH markets. If you are unable to sell, please try again later.
Any BCH send transactions will be released by Luno once a day. BCH sends will be processed from Mondays to Fridays at times listed here. This special send feature is not available on Luno’s Android or iOS apps.
To send your BCH out of Luno, you must sign in to Luno from your web browser.
Important: Make sure you send your BCH to a BCH wallet address, not a Bitcoin wallet address. Using the incorrect wallet address may result in the loss of your BCH.
No. If you had Bitcoin at the moment of the fork, you’ll have the same balance of BCH. The price of BCH will vary and fluctuate independently from the price of BTC. For example, BTC 1.0 could be worth $2,500 and BCH 1.0 could be worth $500.
No. Bitcoin and BCH are two separate blockchains. Sending your BCH will not affect your BTC balance and vice versa.
No. This blockchain fork was a once-off event. If you want BCH now, you will have to buy it or mine it.
Yes. If you had a positive BTC balance at the moment the fork occurred, you will receive this balance in BCH, regardless of whether you subsequently sold or sent your BTC from Luno.
If you have a non-zero BCH balance, we will display a card on the home screen of the app, which will show your balance. At this time you are not able to view your BCH balance on Luno’s Android or iOS apps.
To view your BCH balance and send it, you must sign in to Luno from your web browser and see this page.
Bitcoin companies and service providers are still in the process of deciding whether they support BCH or not. Luno will not make recommendations for third party services.
Luno regards Bitcoin as the most popular and legitimate digital currency. We continuously monitor the industry and we may decide to list other digital currencies in the future. At this time, however, we have no plans to enable buying of BCH.