Wallets and Exchanges

eToro Will Not Support BSV. Offers 92$ per Token as Refund

eToro Will Not Support BSV. Offers 92$ per Token as Refund 1

Bitcoin SV, The Bitcoin Cash fork promoted by Craig Wright does not seem to have what it takes to earn eToro’s credibility or approval to be included as one of the cryptocurrencies able to be traded on its platform.

According to an announcement published on its official website, the popular social trading platform explains that users will receive $92 for every token they had at the moment of the hard fork:

“Although we are not obligated to support forks, we are happy to announce that we decided to credit eToro clients who held long (BUY) non-leveraged positions on November 15, 2018 …

We are in the process of crediting relevant users accounts with the dollar value of Bitcoin Cash SV coins at the price of USD 92 multiplied by the number of Bitcoin Cash units held at the time of the fork. The price was determined by the price of Bitcoin Cash SV available to eToro at the time the credit was processed by us”.

Of the two chains that emerged after the Bitcoin Cash split, Bitcoin SV was discarded by eToro while Bitcoin Cash ABC gained the platform’s approval because it could remain the dominant chain in the sad episode known as the “BCH Hash Wars.”

The decision did not come as a surprise to the community as in most cases BCHABC was chosen by most trading platforms and exchanges as the “real” BCH, while in cases where BSV support was provided, the token was listed in parallel with the ABC version.

eToro provided no further explanation of why they decided not to support BSV. Despite having several dozen assets and cryptocurrencies, the platform simply commented that it was “not obligated to support forks.” Mati Greenspan explains that the reason why they don’t deliver BSV tokens and make a fiat refund instead is because it “would be very difficult to set up as we (eToro) have not yet been able to add BCHSV to the platform.”

Currently, the ABC version of Bitcoin Cash has a value of USD 170, with a 10.7% drop in the last 7 days. On the other hand, Bitcoin Satoshi’s Vision has a value of 92.38$ according to Coinmarketcap data.

About author

Lanz is a freelance journalist and native of Venezuela. He is a lawyer, specialist in strategic planning, and professor whose work has appeared in various cryptocurrency and blockchain publications. Email Jose directly at lanzjose@pm.me
Sign up for our Newsletter