Now Coinbase Users Can Transfer Bitcoin SV to External Wallets

By Swati Kishore

According to an official announcement published on February 14, 2019, the San Fransisco-headquartered digital currency exchange Coinbase is now allowing the users to transfer their Bitcoin SV assets to external wallets.

The announcement reads,

“Coinbase does not support purchases or sales of BSV, so customers cannot sell their BSV for fiat currency on Coinbase. They may send their BSV balance to an external wallet, following instructions here.”

The Bitcoin SV (BSV) Blockchain was the culmination of a Bitcoin Cash (BCH) hard fork carried out in November 2018. The hard fork gave birth to two new Blockchains, namely the Bitcoin ABC and Bitcoin SV.

The Bitcoin SV camp was headed by Craig Wright, an Australia-based businessman and computer scientist.

Crag Wright is notorious in the crypto community for his claims that he is the pseudonymous Satoshi Nakamoto and the creator of the legendary Bitcoin Blockchain.

The hard fork in November resulted in the users of the Coinbase cryptocurrency exchange receiving an equal amount of BSV. Unfortunately, until now the exchange did not provide users with the medium to withdraw their BSV assets.

As per the recent announcement, Coinbase users will be able to withdraw their BSV funds from the exchange and transfer them to an external wallet. The American crypto exchange, however, did highlight that it does not provide trading services for Bitcoin SV.

After the BCH hard fork in November 2018, the US-based crypto exchange Kraken initiated the support for both Bitcoin SV and Bitcoin ABC. The exchange mentioned the following warning:

“Custodial losses taken on due to attacks originating from nChain or its affiliates will be socialized among all BSV holders on Kraken. Given the volatile state of the network and threats that have been made, Kraken cannot guarantee perfect custody of BSV.”

The crypto wallet and statistics firm Blockchain.com announced in January 2019 that it has launched partial support for Bitcoin SV. The support provided some of the same features for Bitcoin SV as those provided by Blockchain.com for its other digital currencies Ethereum, Bitcoin, Bitcoin Cash, and Stellar.