Incoming bitcoin hard forks

In the next few months, we’ll witness several bitcoin forks. Already there are two scheduled hard forks. One will be on 25th October and it will be named  Bitcoin Gold (BTG).  Bitcoin gold is happening because some of the users like to change the centralized way of mining by changing the original protocol’s consensus with the Equihash algorithm. The other fork Segwit2x (BTC1) will take place in the middle of November, which will happen for the implementation of the Segwit protocol on 2MB block size. Also, there are possibilities for 2 more forks in the next few months.

Bitcoin users need to know that next few months will be very turbulent, so they have to be careful with their transaction and where they keep their bitcoins. Until the dust is settled users should be patient with their transactions. The safe way to keep your fund is private non-custodial wallets, but some people think that hardware and paper wallets are better places to keep your funds during the forks.

With the custodial wallets or exchange, there is a risk that during and after the fork you could be unable to deposit or withdraw funds. Also, some of the wallets may not support the split tokens right away.

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