We all know that SegWit2X is most likely to be forked in next 20 to 30 days, which is about 3929 blocks away from the time of writing this. I believe most of you have planned to sell your B2X (SegWit2X Bitcoin, we’ll use B2X in this post) as soon as you are able to do so, well you can actually do that now!
exchanges to sell your b2x
Although SegWit2X fork hasn’t happened yet, major exchanges like OKEx (Operated by OKCoin in Hong Kong), Bitfinex, and Huobi has opened a futures market which allows you to trade B2X. These exchanges created contracts/token of BT1 (Bitcoin from the original chain) and BT2 (SegWit2X coin) within their platform, so you can actually trade them, and these contracts will expire and turn into BTC and B2X after the forked.
the basic idea
Now you are the guy who only wanted Bitcoin (Original Chain), not those forked coins, and you know these exchanges will turn BT1 into Bitcoin right after the fork happen (or not happen.) So all you need to do now is to accumulate as much BT1 as possible! There are two ways to do it:
- (Easy) Buy BT1 from these exchanges, and wait until they turn them into Bitcoin
- Convert your BTC into BT1 and BT2, then sell your BT2 into BTC, repeat until you run out of BTC and BT2, (this give you slightly more BT1 then the first option.)
things to consider (risk?)
Risk always come with rewards, here’s what you need to know before doing this.
- If the exchanges got hacked or run-away while you store all your BT1/BTC in the platform, then you could possibly lose everything. (Exchanges getting hack isn’t rare.)
- If the price of B2X gone up after the fork, you lose the opportunity. (More like opportunity cost than risk.)
What’re the benefits of selling BT2 now and accumulate BT1? From the price movement of BT2, we can guess that once the fork actually happens there’ll be a dump that causes the price going lower, and by selling BT2 you’re ahead of the dump.
conclusion, sell now or wait?
Well it is really attractive to get 16% more Bitcoin by just waiting for less than a month, (493% APR.) But consider the risk involve, (I’ve personally experienced a loss from exchanges being hacked), I chose to wait until the fork happen then only consider selling my B2X coin.
Self-employed digital marketer at https://seenlyst.com/