Bitcoin Cash Hardfork FAQ

1- What is going to happen on August 1st?

Bitcoin Cash (BCC) is a hardfork proposal that will take effect on August 1st. This is going to create a split in the Bitcoin network and will result in creating two copies of coins – Bitcoin (BTC) and Bitcoin Cash (BCC).

2- What is going to happen to my bitcoins (BTC) that are currently stored with BitOasis after August 1st?

Your bitcoins (BTC) will remain safely stored in BitOasis wallets and exchange during the hardfork and after August 1st. You will continue to have the same BTC balance that you had before the August 1st date.

3- Am I going to get a copy of BCC coins from BitOasis after the bitcoin network split on August 1st?

Currently, we are not planning to support BCC coins in the BitOasis wallet. Hence, you should not expect to receive a copy of BCC tokens from BitOasis after August 1st. In the future, we may choose to support BCC coins depending on market conditions and developments.

4- What if I want access to my BCC tokens?

If you want access to the BCC tokens that will result from the hardfork then we urge you to withdraw your BTC assets from BitOasis wallets and exchange before July 31st, 21:00 UTC and send them to a service that either allows you to hold your own private keys or will give you access to BCC tokens and blockchain. Withdrawals will be disabled after July 31st, 21:00 UTC and you will not be able to withdraw your funds after this time.

5- Can I still use BitOasis on August 1st to transact and trade my bitcoins (BTC)?

You will still be able to sign in to your account as usual. However, we will be temporarily disabling all deposits, withdrawals of BTC coins starting at 21:00 UTC time on July 31. We may also halt trading and buy/sell services if necessary. This is mainly to ensure the safety of our customers BTC coins during the upcoming network split. Your bitcoins will be stored safely and you should be able to view your balance anytime on August 1st. But you will not be able to send, receive, deposit or withdraw any bitcoins (BTC) during that time until the split is completed and the network has stabilized.

6- When should I expect to be able to transact with bitcoin (BTC) after the August 1st date?

We will send another update after the August 1st date with more information about when our customer can resume transacting with bitcoins.

7- Can I still use BitOasis to buy and sell ethereum (ETH) during this August 1st period?

Yes, ETH transactions will be unaffected by the Bitcoin network split. You will be able to deposit, withdraw, buy, and sell ETH during this period.

8- How about my AED voucher balance at BitOasis?

Your AED voucher balance will also be unaffected by this event. You will be able to deposit and withdraw any AED Dirhams during this time. You will also be able to buy and trade ETH tokens using your AED voucher balance.