How to sell Bitcoin Cash (BCH) and Bitcoin Cash SV?
“Cleaning my portfolio”, I wanted to sell Bitcoin Cash (BCH) and the attached Bitcoin Cash SV (Satoshi’s Vision, BSV) today. (Also known as BitcoinABC and BitcoinSV.) After the fork of last year, the two coins remained on my same cold wallet. I thought it was time to recover them now. Because it could be a good time to buy some cheap Steem…
Coinomi makes it difficult
I was hoping Coinomi mobile wallet has a nice solution because it helped me a lot before. By the fork of Bitcoin (BTC) => Bitcoin Cash (BCH) and Bitcoin (BTC) => Bitcoin Gold (BTG), in 2017. Indeed, they have solutions but I could solve my problem this time. This guide here is far from being clear for me. They write for example:
How to split coins: Receive a new deposit into your BCH wallet of BCH that is already split…
What? To split your coins you need coins already split? Thanks. And after the splitting, there is another long, 10-step procedure to claim your coins, this is torture. I read they also had a splitting tool before, a banner to tap in their application. That may have been more simple, but they removed it last May.
I won’t bother you with all the details of my attempts, better I describe the simple way I did it. Install the Exodus desktop wallet, it has also a built-in splitting and claiming tool. (In the asset menu, to the upper right on the screen of BCH, sign: “…”, but vertical.)
First I used Coinomi to “sweep” all the content of my BCH cold wallet to the application, with the QR code. This moved all my BCH and BSV to the same BCH account in Coinomi. Second, I sent all the BCH to the Exodus software. (This also moved all my BCH and BSV to the same account.) Then, the “Claim Bitcoin SV” tool in Exodus solved all my problems automatically in 5-10 minutes.
It is almost comfortable if you know how to do it. With this you can sweep all BCH accounts where you have the private keys, I assume. I’m sure there are other methods but this one was good enough for me.
Bitcoin WAS 21,640!
I think, in reality, the top of the Bitcoin price wasn’t by 19,500 USD in December 2017. It was by 21,640-21,680 approximately. Because the day Bitcoin jumped over 19,500 USD, Bitcoin Cash was at 1840 and Bitcoin Gold, 299 USD. If you sold the three at the same time, you got 21,639 USD or some more. (By the way, Steem was 2.19 USD. In a strong uptrend.)
Bitcoin Cash SV is now 350, BitcoinSV, 145 USD worth. So, don’t forget your forked coins, and claim them carefully. Or, separate them from the original accounts.
Goodnight, girls, and boys, let’s dream of a million-dollar Bitcoin and a thousand dollar Steem.
Update – how to sell BSV
Selling BitcoinSV seems to be difficult, too. Binance crypto-exchange says it is “suspended” and “No Trading Market”. Exodus exchanges it for you, to many other cryptos, but you pay a lot. Almost four percent over the theoretical middle-price (to Ether in my case). Maybe other exchanges are enabling it, I haven’t searched further.
Update 2 – I bought Steem
I bought 830 Steem, exchanging BCH today, by a Steem/USD price of 19.56, approximately. But I reserved some crypto to buy more. 🙂
(This post was originally published on Steempeak, the 14 August 2019.)
(Cover photo: Own work.)