Last updated 13 November 2018
Dear Ginco users
Thank you for using Ginco Wallet.
We would like to announce our important policy regarding the BCH hardfork which is estimated to be happening around 1:40 PM on November 16th, 2018 (Japan Time).
Please read through this page carefully for your information.
★ Latest updates (13th Nov. 2018):
- Added & Updated "How long will it take to support the new cryptocurrency?" section
- Added & Updated "Our policy toward supporting new cryptocurrency" section
Fork scheduled on BCH
Several developer's group has announced the BCH's hardfork. For more information about the hardfork, please check the link below.
Regarding the hardfork, there are still many uncertain details, including the time and moment of the hardfork, ticker (name of the coin after the hardfork) and the value of the cryptocurrency after the hardfork. There is a possibility that the situation could change dynamically.
Please read our announcement carefully, and be prepared beforehand.
Possible effect on users who have BCH balance in Ginco
If you own BCH in your Ginco Wallet, your private key will automatically associate with both of the cryptocurrencies after the chain has split into two ways due to the hard fork.
However, please note that in spite the fact that you own the new cryptocurrency in your Ginco Wallet, you will not be able to check the balance, receive, and send the new cryptocurrency from your wallet right after the hardfork. The sending function will be available to all of our users after we complete supporting the new cryptocurrency, likewise, the other cryptocurrencies supported on Ginco Wallet.
While you will be able to send BCH with Ginco Wallet during the hardfork period, the replay protection support is not announced until today (13th November 2018), which prevent us from sending BCH and the new cryptocurrency at the same time after the hardfork. Please be aware that if you send BCH during/after the hardfork, there is a possibility that you could lose your new cryptocurrency associated with your private key.
How long will it take to support the new cryptocurrency?
We cannot determine our policy until we are sure whether if the new cryptocurrency supports replay protection, and also if it has a market price certain market price. Therefore, please note that in certain circumstances, Ginco will not be able to support viewing/sending/receiving the new cryptocurrencies until few weeks after the hardfork.
If you want to send the new cryptocurrency right after that hardfork, we beg you to send your BCH to exchanges which are going to support the new cryptocurrency, before the hardfork.
Is it OK to send BCH after hardfork?
Please be advised that without the support of replay protection, sending BCH can result in losing your new cryptocurrency. While our users have full control over the private key and your assets, please understand that there is a risk sending BCH after the hardfork. Our users have the full responsibility for sending BCH.
Our policy toward supporting new cryptocurrency
After the hardfork, Ginco will monitor the blockchains and determine our policy regarding the following items:
- Replay protection in the blockchain
- Market price of the new cryptocurrency
Once the replay protection is deployed and the function of the new cryptocurrency is stable, Ginco team will determine to support viewing/sending/receiving of the new cryptocurrency.
Regarding our user's asset's safety, we are looking forward to making a follow-up announcement after the hardfork.
Thank you for your patience.