Leading cryptocurrency exchange Kraken on Monday announced that it has enabled Bitcoin Cash (BCH) deposits and withdrawals on its platform.
Currently, 20 confirmations required before BCH deposits are credited. However, Kraken said that it may lower this number in the coming weeks if the BCH network grows and more miners join the network.
Kraken also cautioned its users on the vulnerability of the BCH network. It said:
“Clients should take this elevated risk into account when transferring funds. In the event that a deposit is invalidated on the network after the funds are credited to a Kraken account, the amount of the deposit will be debited from the account. If this results in a negative BCH balance withdrawals will be locked until the balance is corrected (by either depositing or buying BCH).”
It also urged users to exercise caution when making deposits. It explained:
“Bitcoin Cash (BCH) deposits should only go to BCH-specific deposit addresses, and regular Bitcoin (XBT) deposits should only go to XBT-specific addresses. Any BCH sent to a XBT deposit address will not be credited and any XBT sent to a BCH deposit address will not be credited.”
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