Cryptocurrency Q&A
Does Coinbase support Bitcoin SV (BSV)?
Does Coinbase support Bitcoin SV (BSV)?
CryptoProphet
Sat Nov 23 2024
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5 answers
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Coinbase announced on November 7th, 2023 that it would stop supporting Bitcoin SV (BSV) by January 9th, 2024. Users were required to withdraw their BSV funds before this date, or they would be automatically converted to an equivalent value of other supported digital assets by Coinbase, minus transaction costs.
5 answers
Stefano
Mon Nov 25 2024
For those who had BSV stored on Coinbase, the cryptocurrency was no longer supported after the specified date. Consequently, the funds had to be handled in a particular manner.
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ShintoSpirit
Mon Nov 25 2024
Post-deprecation, any remaining BSV in user accounts were liquidated. This process involved converting the BSV into a stablecoin with a comparable market value.
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SoulWhisper
Mon Nov 25 2024
The stablecoins used for conversion were either USDC or DAI. These are cryptocurrencies designed to maintain a stable value relative to a specific asset, such as the US dollar.
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KatanaSharpened
Mon Nov 25 2024
On January 9, 2024, Coinbase ceased its support for Bitcoin SV (BSV). This decision was final and left users with BSV in their accounts facing changes.
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noah_doe_writer
Mon Nov 25 2024
The converted amount in USDC or DAI was then credited back to the respective Coinbase accounts. This ensured that users received a financial equivalent for their previously held BSV.
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