Etoro, a social trading and multi-asset brokerage exchange is set to pay Pre-forked holders of Bitcoin Cash (BCH) in a fiat cash equivalent to the current value of BSV in equivalence.
Etoro to Compensate BCH Prefork Holders
As of recent, Etoro, a U.S.-based investment platform made an announcement that users who kept BCH on its platform before the widely controversial hardfork will be given cash which is equivalent to the current value of BCHSV. What this means is that the total number of BCH coin kept by each user will be multiplied by the current value of BCHSV (~$92).
The exchange confirmed this in a statement which reads:
“We are in the process of crediting relevant users’ accounts with the dollar value of BCHSV coins at a price of $92 multiplied by the number of BCH units held at the time of the fork,”
A Senior Market Analyst at the exchange, Mati Greenspan further commented that:
“As a custodian holding the coins on behalf of our clients, we felt that this was the best thing to do. Ideally, we would want to give them the BCHSV itself because it belongs to them. But that would be very difficult to set up as we have not yet been able to add BCHSV to the platform.”
Greenspan further made it known that the exchange is considering the addition of BSV to its platform. He said that: “We have a lot of evaluation and technical considerations involved in adding a new asset to the platform.”
Holiday Suprise For Users
In addition, the exchange added that it has gotten a very encouraging response from its users regarding the announcement. According to Greenspan, the exchanges’ decision to pay its users this money “was made in retrospect and they thought it would be a nice surprise for the holiday,”