The Basic Guide on How to Claim and Sell Bitcoin Forks
Warning: There are ample risks involved in getting and selling forkcoins as it also needs much advanced knowledge. If you do these steps, it means you are accepting all of the risks involved:
- Using Bitcoin private keys and disclosing them
- When certain software is being run and installed
- Actively trading as well as being present on different exchanges
For more information, you can see this video first:
By the time this article is being written, you can get around 2,000 USD freely in each bitcoin you have in your wallet which was acquired before 1st of August, 2017.
Given that most of this value is made of Bitcoin Gold and Bitcoin Cash (approximately 1% and 12% of Bitcoin respectively). Airdrops of Byteball (unclaimable in any indicative amount) and Clams (still claimable at May 2014 dated addresses).
You will have around 200 to 300 USD of free money availabl in each bitcoin you have acquires since months of November or December 2017, except for BCH and BGP. Although this number is only an educated guess, obviously. The accurate total amount will vary on the present availability and pricing of a number of markets and also the appearance of new forkcoins.
Stated in a current headline of Bloomberg that there will be a significant amount of more forks coming.
Now, it is solely up to you to see if the prize is worth with the amount of effort needed to get these coins. You should know that your financial privacy would only be in danger via this procedure, since the data on your BTC holdings will be disclosed to a lot of different services, exchanges and networks. But, the risk financially are just insignificant if you are able to act in accordance with the #1 Rule:
#1 RULE when Getting Bitcoin Forks (Absolutely Important!)
Getting all the forks needs you to utilize your Bitcoin wallet private keys, which holds your Bitcoin by the moment the coin was forked. This method can only be effective if and only if you have already transferred your Bitcoin to another wallet and you already have another set of private keys.
Tip: This is a perfect time to move your Bitcoins to a so-called hardware wallet or HW. If you have utilized a HW already, try to get a second one in order to keep your standard of security upon getting!
An Instance of Safe-Getting Process
Let us have Super BTC (SBTC) as an example. It was bifurcated around 12th of December, 2017 (its BTC block height is 498,888). Whatever amount of Bitcoin you have had in your BTC wallet at the same moment, you’ll now have as much SBTC. In order to get those forkcoins, your private keys are needed to be exported to from your BTC wallet by claiming tool or into a Super Bitcoin wallet.
However, when your private keys are shared using the claiming tool or SBTC wallet, you are absolutely handing out your private keys to the crypto world. If given the circumstance that you have a malicious software, it will get any remaining BTC in your wallet. Also, for each coin that do not have Replay Protection, there is a risk of losing any Bitcoin from your original wallet.
Since you can never certain of new programs, the only secured method to get forkcoins is to transfer first all your BTC to another wallet – given that the Bitcoin has now been moved safely and can no longer be armed. Once this process is done, there is only one danger remains and that is when a malicious fork tool, service or wallet will utilize your old private keys to get the unclaimed forks in the future.
Reminder: If you are still into Legacy BTC wallet (the addresses start with 1), it is a perfect moment to claim these forks for transferring coins to another wallet called SegWit. As of the moment, the fees are low so it is a perfect time to transfer your coins. Upon doing this will decrease your service fees and equip you to utilize the Lightning Network.
Three Significant Features in Gaining from Bitcoin Forks
There are 3 important factors needed in order to surely gain from any fork the moment you have transferred all your coins to a new safe haven.
Measured in BTC block height, this is the date and time in which a fork happened. During the forked time, any Bitcoin wallet address that has any value will be qualified for forkcoin rewards. There won’t be any forkcoin available for a BTC address that was able to have value after.
Depending on the number of BTC in each address, forkcoins are given in direct proportion to it (Example: for 1.582 BTC there is 1.582 forkcoins) altho this ratio can differ. For an instance, the Bitcoin World gives 10,000 BTW in every one BTC.
Exchange Deposit Availability
Although forkcoin websites are likely to promote their partnerships with each exchange that may give a market, only a number (one or two) of exchanges will grant deposits of small forks. Except for instances where you have Bitcoin in an exchange wallet in which forkcoins were awarded by that exchange itself, then you will be only permitted to sell on certain exchanges that permits forkcoin deposits.
There are exchanges that doesn’t permit forkcoin deposits from the outside. That is to say that trading of forkcoin is only allowed to users who they have issued who then had a Bitcoin balance during the fork. Such exchanges that permits deposits from the outside typically reflects more accurately the forkcoin price in the future. An example below is presented to show the price difference between two different exchanges “open and closed”.
There is an extreme differences of prices between Exrates (deposit-enabled) and closed markets.
Note: Opposite to the charting practices of the West, Eastern Exchanges uses red to signify a rising price and blue or green to denote decreasing price.
Bitcoin Forks in 2018
Some of the forks are listed here. A number of them are live! Listed below are details of forks claimable and usable for trading on one market at least. These data were taken around 6th of February, 2018 therefore will vary accordingly.
Claimable Bitcoin Forks through Bither, BitPie and Ymgve’s Script
Super Bitcoin (SBTC)
Fork Height: block 498,888 (12/12/2017)
Reward Ratio: 1 SBTC for 1 BTC
Bitcoin Diamond (BCD)
Fork Height: block 495,866 (2/11/2017)
Reward Ratio: 10 BCD for 1 BTC
Bitcoin Faith (BTP)
Market: BTCtrade.im (requires verification) & BitPie app
Fork Height: block 500,000 (18/12/2017)
Reward Ratio: 1 BTF for 1 BTC
Bitcoin World (BTW)
Market: BTCtrade.im (requires verification) & BitPie app
Fork Height: block 499,777 (19/12/2017)
Reward Ratio: 10,000 BTW for 1 BTC
Bitcoin New (BTN)
(price available in BitPie exchange)
Market: BitPie app
Fork Height: block 501,000 (19/12/2017)
Reward Ratio: 1 BTF for 1 BTC
Bitcoin Forks Claimable via BitPie / Bither
Bitcoin Pay (BTP)
(price available in BitPie exchange)
Market: BitPie app
Fork Height: block 499,345 (15/12/2017)
Reward Ratio: 10 BTP for 1 BTC
Bitcoin Forks Claimable via Ymgve’s Script:
Fork Height: block 501,451 (28/12/2017)
Reward Ratio: 1 B2X for 1 BTC
Bitcoin Hot (BTH)
Market: ZB.com (requires verification)
Fork Height: block 499,777 (19/12/2017)
Reward Ratio: 1 BTH for 1 BTC
Bitcoin Pizza (BPA)
Market: HB.top (requires verification, and is possibly restricted to China)
Fork Height: block 501,888 (31/12/2017)
Reward Ratio: 1 BPA for 1 BTC
Bitcoin Vote (BTV)
Fork Height: block 505,050 (21/1/2018)
Reward Ratio: 1 BTV for 1 BTC
Fork Height: block 498888 (12/12/2017)
Reward Ratio: 10,000 BCX for 1 BTC
Fast Bitcoin (FBTC)
Market: CoinEgg.com (verification required)
Fork Height: block 501,225 (27/12/2017)
Reward Ratio: 1 FBTC for 1 BTC
Note: In order to monitor the future and upcoming forks of BTC as well as altcoins, a comprehensive detailed list on Bitcoin talk is urged. Block height are all listed however no trading markets are noted.
The Step by Step Guide in Getting Bitcoin Forks
Step 1: Private keys should be exported
For the purpose of claiming forkcoins, it is highly needed to export your private keys coming from your previous wallet by utilizing a format in which a tools for import (described below) can be able to read. You can readily check the documentation of your own wallet for information on the process of exporting the private keys. But for most instances, a file that has all your addresses as well as the private keys respectively will be generated.
There are some wallets, specifically hardware wallets that will not allow you to transport private keys. In this instances, it is needed to type in the seed phrase of the hardware wallet into a tool (like the BIP39 Tool of Ian Coleman), which can function offline. Other choice is to import the seed into a HD wallet that is compatible, like the Electrum.
Step 2: Monitor Balances from Addresses and Form a List!
In order to reserve time, you should not import zero value private keys. Websites such as btcdiv.com and findmycoins.ninja can be utilized to check the forkcoin balance claimable from old Bitcoin addresses.
Valid addresses as well as combination of private keys should be recorded in spreadsheet or text file for future reference. You can utilize any form of file that enables you to copy, paste and change text simply. The format for recording should be the private key and then the address.
Tip: Additionally, you should number each item and take note of the estimated BTC amount that are present from the date of the earliest fork in which you are eligible for. Providing number for each pair of keys can be very helpful in ordering purposes.
Taking note of the size can be very useful. For instance, you can easily claim the address with the smallest-valued for the purpose of testing or the largest-valued for fast-exchange funding.
Two GOOD “DIY” Claiming Process
In most cases, it is so possible to download each forkcoin’s official wallet, sync the blockchain and lastly import the private keys. However this process really takes much time to sync every chain, as well as it is highly probable that a malware is present in a wallet.
So two methods which are faster and safer are present for the purpose of claiming the present crop of forks.
1.Bither and Bitpie
BitPie and Bither are two Bitcoin wallets. At the point when utilized together, they enable you to guarantee a few fork coins, including BTP (a coin that is generally difficult to offer). It doesn’t work with SegWit addresses (i.e., addresses that begin with 3, not 1) and has genuinely high exchange/asserting charges.
We will utilize Bither to separate forkcoins and BitPie to offer them. There’s some association between these two wallets, and it appears that Bither will dismiss non-BitPie tends to while guaranteeing. Bither is highlighted on the Bitcoin.org site, so it ought to be genuinely solid.
The Bither wallet is accessible for cell phones (counting Androids) and work areas, while BitPie is best utilized on an Android. Despite the fact that BitPie is additionally accessible for iOS, there have been a few reports of challenges when utilizing that working framework.
On the off chance that you don’t have an Android or would want to do everything on your PC, introduce the BlueStacks Android emulator. You’ll require a Google record to get to the Google Play Store, keeping in mind the end goal to introduce BitPie (and Bither, on the off chance that you so pick) inside BlueStacks. You might have the capacity to get around this prerequisite by downloading the .apk records.
BitPie has wallets and a trade work for 6 new forkcoins: SBTC, BTW, BCD, BTF, BTP, and BTN (in addition to Bitcoin Cash and Bitcoin Gold). Once guaranteed, this trade can be utilized to offer the forkcoins.
How To Claim Bither and BitPie?
You can check the tutorials below but it is way too technical if you are a new user. You should use the text version.
Open the wallet for Bither and tri setting up then back up your password and seed phrase and check on the gear icon you like at the top right :
Select “Advance Options”
Paste your private key as content (which you ought to have gotten from Ian Coleman’s instrument or your new wallet). Bither will request the secret key you set for it, contingent upon whether you import the private keys in a compacted or uncompressed organize. Select compressed. Rehash this procedure for all private keys/addresses that contain a claimable adjust.
After you have the relevant private keys, just click on “Get Fork Coins” in Bither :
Choose the forkcoin you like to claim :
On this time BCH was selected. On the left side, there are addresses being displayed and the claimable balance of the right.
Previously claimed addresses will be marked as “You already gat [sic]XXX.” Click all “Getable” balances:
There will be a specific request on BitPie address to send to with Bither :
You’ll require a BitPie address. So now open BitPie, finish the setup procedure, and reinforcement your seed and pass. You can change between coins from the dropdown menu at the upper left:
On this image Bitcoin is the one chosen. You can chose on the forkcoin you want to claim with Bither and click “Receive” tab :
Copy it to clipboard once you hit the address that has been displayed below :
Next Is to click “Get” when you go back to Bither :
Following a couple of moments, you ought to get a notice from BitPie about approaching assets. Rehash the procedure from Step 6 (where you click “getable adjust”), until the point when all locations are asserted.
Cautioning: BitPie’s UI is with the end goal that it’s anything but difficult to erroneously choose the wrong coin. Continuously twofold watch that you’re utilizing the right kind of coin, keeping in mind the end goal to assert your accepting location.
2.Fork Claim Using Ymgve
Ymgve’s superb content enables you to guarantee 12 new forkcoins (and Bgold): B2X, BCD, BCX, BPA, BTF, BTH, BTN, BTV, BTW, SBTC, UBTC (which requires some additional means, as clarified on the UBTC site), and FBTC (which has a somewhat unique asserting procedure).
Ymgve’s content likewise underpins SegWit addresses, has bring down mining expenses than BitPie/Bither, and enables you to send to any address. That way, coins might be sent straightforwardly to your trade’s store account. Notwithstanding, the content requires utilization of the summon line, and is more convoluted.
While the content evidently expects you to enter around 180 irregular characters for each address you assert, the workload can be extraordinarily decreased with some prudent replicating, sticking, and supplanting.
Process of Claiming
You need to visit Github first (https://github.com/ymgve/bitcoin_fork_claimer). The link will give you hints on how to install Python 2 version programming language and you can download it here https://www.python.org/downloads/release/python-2714/.
You can chose to download the script as ZIP file type :
It will be a cleaner way to set Python directory path on where you install it.
Going back to the address list you want to claim. By using Bitcoin block exporer you can check it up and find the txid or Transaction ID of the moment before forktime. You have to enter all the Transaction ID into your list. It should look like this :
TXID [obtainable from block explorer, last transaction before forktime]
Source Bitcoin Address
Destination Forkcoin Address [deposit address, obtainable from exchange]
Above TXID, enter the accompanying content: python claimer.py (XXX is a substitute for the ticker code of whichever coin you wish to assert).
Guarantee that your rundown doesn’t contain line breaks (“enters”), as they will make the data be entered over different lines when glued into the content, which makes the content fall flat.
This is what your rundown sections should resemble (pretty much). The parts to reorder have a shaded foundation:</p
So requested, this rundown will spare you a lot of time when entering summons for multi-supplication addresses and forkcoins into Ymgve’s claimer instrument. Entering the important summons by hand will take always, and has a high shot of blunder.
This is the way the rundown should look at last. (Notice that the sum is absent from this case.)
How about we get serious. In Windows, don’t run Python from its .exe document. Rather, dispatch a charge window and explore to the directory</a> where you introduced the content. In the event that you utilize Linux, you ought to experience no difficulty with this progression.
Select the coin you wish to guarantee. Spare your rundown by utilizing a document name that mirrors the coin you expect to assert (e.g., scriptBCX.txt).
Utilize your content manager’s “Supplant All” capacity to supplant XXX with the coin’s code (e.g., XXX moves toward becoming BCH).
Utilize your content manager’s “Supplant All” capacity to set the Destination Forkcoin Address to the right one for keeping forkcoins on your picked trade. Before doing as such, guarantee that you’re ready to pull back from the trade without finishing the confirmation methodology! These systems may fall flat, or require information that you’re unwilling to share. All things considered, your coins will be caught.
Presently feature and duplicate (CTRL-C or right-click duplicate) the accompanying data from your rundown:
- Python claimer.py BCX [or whichever supported coin-ticker you’re claiming]
- Source Bitcoin Address
- Destination Forkcoin Address
Right-tap the charge window, and glue this data. In the case of everything is right, the content will request that you affirm your order by entering the accompanying content:
I am sending coins on the [relevant]network, and I acknowledge the dangers.
You may duplicate the above content for gluing purposes, as it should be entered again for each address you guarantee. On the other hand, on the off chance that you’ve just entered the disclaimer, at that point you ought to have the capacity to rehash it consequently by squeezing the up bolt.
Enable the content to keep running for some time. It will either come up short, succeed (more often than not inside a moment or something like that), or stall out in a cycle of retrying associations. In the last case, you can scratch off the content (control-C in Windows) and proceed onward. Note what occurred with each address, so you can retry fizzled or slowed down addresses later.
Move down your rundown of addresses and private keys. When you achieve the end, spare the record under the name of the following forkcoin you wish to assert, at that point supplant the ticker codes and goal address.
Rehash as wanted, or until all your forkcoins are Bitcoin!
Note: The above procedure depends on a piece voyager to get the exchange ID that means the address esteem. It continues as before for all coins, aside from FBTC. The procedure for FBTC doesn’t take a TXID esteem, yet expects you to enter the sum to assert satoshis toward the end. By taking note of the qualities guaranteed by different coins with a comparable fork stature to FBTC’s, you ought to have the capacity to enter the right sum. Keep in mind the eight digits after the decimal point!
Claiming Services of Bitcoin Forks
On the off chance that you don’t extravagant the DIY approach, you can pay a rate (for the most part around 5%) of your forkcoin benefits to specialists who’ll deal with the procedure for you. This is the easy way, however we can’t vouch for any of these administrations, since we’ve never utilized them. The ones recorded here all appear to have gotten a considerable measure of positive input. Other than CoinPanic, they’ll require your private keys.
- Reddit user Camku can claim and sell just about anything, and seems very helpful.
- Nbysy is another Redditor who offers a forkcoin service, and has good feedback.
- CoinPanic is an interesting service, which doesn’t demand your private keys for claiming.
- Dig.Walleting.Services is another claiming service.
- Loyce has a claiming service on the BitcoinTalk forum, and has much positive feedback.
Do-It-Yourself vs Claiming Services
With a view to future forks, it’s presumably worth getting comfortable with each of the three sorts of administrations!
BitPie is genuinely simple (despite the fact that not without bugs and delays) and is as of now the best way to offer the forkcoin known as Bitcoin Pay (BTP). Despite the fact that the BitPie trade as a rule has more awful costs than customary trades, it doesn’t require any individual data. You ought to abstain from putting away finances long haul in the BitPie wallet, as its security properties are obscure.
Ymgve’s content is fantastic. You’ll presumably extricate the most BTC and instruction by utilizing it. As it’s generally refreshed at whatever point a legitimate coin is discharged, it’ll presumably be the speediest way to guaranteeing and offering new forkcoins. It has low expenses, and backings numerous coins. Be that as it may, it can be a brief period devouring, and is maybe dubious for newcomers.
The different asserting administrations can spare you a ton of problem, and enable you to offer at different trades without the confirmation costs. In any case, these administrations take a rate and require trust. Research each administration or supplier before utilizing it! On account of specific coins that are unsupported by the other 2 techniques or are just exchanged on a trade you can’t get to, a reasonable administration will be your exclusive way to guaranteeing forkcoins.
Some forkcoins will probably draw later on, however most beyond words. There’s no dependable method to foresee both of these results.
All the connected trades were straightforward as far as permitting withdrawals, in spite of the fact that issues are likely with these as often as possible carriage forkcoins. All (aside from HB.top) have English-dialect variants, with the catch to choose English typically prowling in the upper right corner of the site. Note that the confirmation procedure is now and again monotonous, and requires numerous photographs, archive sweeps, and circle bouncing. In the event that the procedure comes up short, an English clarification is generally inadequate.
At last, as it’s not self-evident, the directions for getting to the trade in the BitPie wallet are underneath. (Try not to utilize the “Purchase/Sell” or “OTC Trade” catches in the best menu.)
While this guide was quite exhaustive, I’m certain you may even now have questions. Assuming this is the case, abandon them in the remark area underneath, and I’ll do my best to answer them. Glad forking!