Dear breadwallet customers,
There is a potential hard fork happening on August 1. For customers using the “Buy Bitcoin with bank account” functionality, access to the service will be temporarily suspended starting today, July 31. Functionality will resume as soon as possible after the outcome of the fork is clear and the network is safe.
What is the fork?
An alternate product called Bitcoin Cash (BCH) is scheduled to launch on August 1. It uses a copy of the existing bitcoin blockchain, meaning everyone who holds bitcoin in their wallet when the fork happens on August 1st will receive an equal amount of BCH after the fork. Your bitcoin balance will not change.
How do I access my BCH?
You do not need to do anything to receive your BCH. It will be automatically associated with the same private keys your breadwallet uses to access your bitcoin. After the fork, your BCH will be safely stored in your breadwallet, although you will not be able to see its balance. You will be able to continue to send and receive bitcoin (BTC) with breadwallet, but your BCH balance will not change.
If you would like to access your BCH immediately, you can use your breadwallet recovery phrase in an app that supports BIP39 recovery phrases and also supports the BCH chain. We do not have any software recommendations and do not support this action at this time. If the BCH fork is successful and shows considerable support, we plan to release an alternate version of the breadwallet app that allows you to send and receive your BCH.
If you do not want BCH, you can simply take no action and ignore it.
How do I know my BCH is safe?
Because breadwallet is a non-custodial wallet, you are in possession of the private keys that will contain both BTC and BCH. While it may not be possible to send or receive BCH for a short period of time after the fork, your BCH will remain secure. Breadwallet does not take a position on the merits of BCH, but will always give its users the tools they need to access coins controlled by the private keys that breadwallet manages inside the app. At no point will breadwallet or any other third party have custody of your BCH.
What should I do?
If your coins are in breadwallet, the recommended course of action is to do nothing during and immediately after the fork. Once the uncertainty around the fork is resolved, we will provide further instructions.
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