On November 15th, the Bitcoin Cash blockchain underwent a planned upgrade, but the chain also reached a consensus and the network was divided into two. After the split, many users have been looking for ways to split their coins in order to store them separately or sell unwanted tokens on exchanges. Below is a step-by-step guide on how to use a few different tools to split a fork token.
Split coins from Bitcoin Cash network fork using electronic cash version 4.2.0
Like last year, in mid-November, the Bitcoin Cash network was upgraded to fix the difficulty adjustment algorithm (DAA). But just like in 2018, there is a major disagreement because the full node customer Bitcoin ABC decided to implement the infrastructure financing plan (IFP) into the node’s code base. Because this decision was inconsistent with the community and mining participants, the ABC pro-IFP chain broke away from Bitcoin Cash and became its own network.
At the time of publication, the ABC pro-IFP chain still had no name and was usually referred to as “BCHA” or “BAB”. In order to maintain the consistency and clarity of this guide, the ABC pro-IFP chain will be referred to as “BCHA”. Following the fork and the empty block of a recent mysterious miner, I decided to split my coin in two so that I can sell what I don’t need in a week or so.
People have published several different coin splitting methods, and Bitcoinbch.com CEO Hayden Otto (Hayden Otto) released a video explaining how to use the Coinex exchange to easily split coins. Please check out the video below because the process is relatively simple, but remember that Coinex is a custodial transaction.
The method I followed originally came from the web portal keepbitcoinfree.org, but I decided to do it another way. A few days before the fork, I transferred Bitcoin Cash (BCH) from a hardware wallet to a non-custodial Bitpay wallet. After the split, I downloaded the non-custodial Bitcoin.com wallet and Electron Cash (EC) version 4.2.0 from the project’s Github repository.
Version 4.2.0 of EC allows users to switch between servers, which gives people the opportunity to split their coins. After launching the 4.2.0 EC version, I decided to create a new wallet called “Splitting Time”. When creating the Bitpay wallet, I used a 12-word seed phrase to restore my BCH funds to the newly created “Splitting Time” wallet. If you do not need to restore your wallet, and you have already used version 4.2.0 of the Electron Cash wallet, you can skip to the “Split” section of this article.
I just selected the “File” tab at the top left of the wallet and scrolled down to “New/Restore”. Here, I named the new BCH wallet “Splitting Time” and chose “Standard Wallet”. After pressing “Next”, I select “I already have a seed” and then press “Next” again to continue the process. Many wallets now use different derivation path methods, but I know that Bitpay uses the BIP39 version of the mnemonic seed phrase. After selecting “I already have a seed”, the next step is to type a 12-word phrase in a box with spaces.
If you are worried about malware on your computer or other people around, you should never perform this procedure. It is wise to stay completely alone, because the 12-word mnemonic list is basically your private key, and anyone can use the funds. Before entering the seed, I knew that my Bitpay wallet used BIP39, so I selected the “Options” tab at the bottom of the window to switch the recovery process of BIP39.
Since BIP39 is also used by non-custodial clients, Bitcoin.com wallet owners can also perform this step. The option window allows you to select “Force BIP39 interpretation of this seed. If the seed phrase is incorrect, the checksum will show “Failed.” However, after I entered the seed phrase correctly, the Electron Cash customer told me that the checksum is very good. it is good.
The process of splitting using two networks
From here, I clicked “Next”, and my Bitpay wallet immediately imported the EC client successfully. The next thing I want to do is to check the network settings in order to access the BCHA end of the chain. I go to the upper part of the wallet, select “Tools”, then scroll down to the section that says “Network…” and select this option.
A window pops up, then select the “Server” tab from here to type “electrum.bitcoinabc.org” and port “50002” in the server section.
After setting the network to “electrum.bitcoinabc.org”, the overview section will tell you “chain split” [was] Detected in box 661648″ and my server is on “Branch 4284c9d8b2”. Branch 4284c9d8b2 is the server you use to interact with the BCHA chain.
After noticing that my coins are accessible on both chains, I returned to the Bitcoin Cash (BCH) server by using a server named “bch.cyberbits.eu”. Now, the keepbitcoinfree.org guide tells users to choose two addresses from the address part of the wallet and mark each address separately for each individual network. Instead, I opened my Bitcoin.com wallet and grabbed a new BCH address so that I could have a place to send money.
In order to send my Bitcoin Cash (BCH), I made sure to set my wallet to the “bch.cyberbits.eu” branch 29e471c418 and send a small portion of BCH to the Bitcoin.com e-wallet. While waiting for a confirmation, I went back to BCHA and found that my BCHA coin had not sent any transactions.
After I was convinced that everything was working smoothly, I jumped back to “bch.cyberbits.eu” branch 29e471c418 (Bitcoin Cash Network) in order to send my remaining funds to the Bitcoin.com wallet. I just use the same address as in my initial test sending and then press “max” on the EC client to send all funds.
Similarly, while waiting for confirmation on the BCH chain, I moved to branch 4284c9d8b2 “electrum.bitcoinabc.org” and again noticed that all BCHA coins were kept in the wallet. From here I have accomplished what I want to accomplish now.
The splitting process takes less than 30 minutes
Now, my BCHA is kept in the wallet until I decide how to deal with the tokens and my BCH is kept in the new non-custodial wallet.
After the coins are split at this time, I can send the funds to any exchange at any time. As I mentioned above, there are other ways to follow this process. Not only can users send funds to exchanges that support BCHA, but they can also utilize the non-custodial web portal abc-wallet.fullstack.cash wallet. .
In addition, the Bitcoin ABC development team also created Announce A non-custodial wallet, also known as Electrum ABC. Bitcoin ABC developer Antony Zegers also released a guide on how to split coins using electronic cash wallets and new Electrum ABC customers.
If you are 100% satisfied with this process and understand that it requires patience, just split the coins. Also, please remember that the step-by-step walkthrough editorial is only for information. The user’s decision will eventually bring a variety of security risks and methods. Many steps are mentioned in news.Bitcoin.com reviews and split guides, some of which are optional.
What do you think of the split coin and its process? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, Electron Cash
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