How to Profit and Keuze Bitcoin Forks ter 2018 – The Ultimate Guide

Last updated on March 20th, 2018 at 05:28 pm

Warning: claiming and selling forkcoins involves considerable risks, and requires some advanced skill. By attempting thesis procedures, you accept all of thesis risks:

  • Working with and exposing your Bitcoin private keys
  • Installing and running certain software
  • Trading and possibly identifying yourself on various exchanges

If you don’t fully understand forks, please observe this movie very first:

At the time of this writing, you can rechtsvordering about $Two,000 te free money for every bitcoin te your wallet received before August 1, 2018.

Granted, a loterijlot of this value is comprised by Bitcoin Metselspecie (

1% of BTC). We’ve also covered the airdrops of Byteball (which is no longer claimable ter any significant quantity) and Clams (which can still be claimed at addresses dated May 2014).

Minus BCH and BGP, you’ll have about $200 to $300 of free money on the table for every bitcoin you’ve possessed since November or December 2018. This amount is only a rough estimate, of course. The precies total will depend on the current pricing and availability of numerous markets, spil well spil the emergence of fresh forkcoins…

A latest Bloomberg headline indicates that there are slew of more forks to come.

It’s up to you to determine if the prize is worth the considerable effort required to voorkoop thesis coins. Be aware that your financial privacy can only be harmed by this process, spil gegevens on your Bitcoin holdings will be exposed to various networks, exchanges, and services. However, the financial risks are minor, provided that you go after Rule #1…

Rule #1 when Claiming Bitcoin Forks (Utterly Significant!)

Claiming all thesis forks will require you to use the private keys of the Bitcoin wallet, which contain your BTC at the time that the coin is forked. This tactic is only safe if you’ve already moved your BTC to another wallet, with a different set of private keys.

Peak: Now would be a good time to transfer your bitcoins to a hardware wallet (HW). If you already use a HW, consider getting a 2nd one to maintain your security standard while claiming!

An Example of the Secure-Claiming Process

Let’s take Super Bitcoin (SBTC) for example. It forked on December 12, 2018 (at a Bitcoin block height of 498,888). Whatever number of BTC you had te your Bitcoin wallet at that time, you now have just spil many SBTC. To eis those forkcoins, it’s necessary to uitvoer the private keys from your Bitcoin wallet into an SBTC wallet or claiming contraption.

But by sharing your private keys with that SBTC wallet or claiming device, you’re providing it the keys to your crypto kingdom. So if the software is malicious, it can drain any BTC that remains ter your wallet! Any coin that lacks Replay Protection could also lead to the loss of any BTC te your original wallet.

Spil you can never be sure of fresh software, the only safe way to keuze forkcoins is to very first budge all your bitcoins to a fresh wallet—provided that the BTC has bot securely moved, and can’t be harmed. The only danger that remains once this process is done is that a malicious fork wallet, device, or service will use your old private keys to steal any other unclaimed forks.

Note: If you’re still using a Legacy Bitcoin wallet (with addresses embarking with 1), claiming thesis forks is an excellent motivation for moving your coins to a SegWit wallet. Fees are low right now, so there’s never bot a better time to migrate your coins. Doing so will reduce all your future transaction fees, and prepare you to use the Lightning Network.

Three Significant Aspects for Profiting from Bitcoin Forks

Once you’ve moved your coins to a fresh wallet, there are three major factors to make sure you profit from any fork:

Fork Height

This is the time and date (measured te Bitcoin block height) when the fork took place. Any address ter a Bitcoin wallet that contained any value at the time of the fork will be eligible for forkcoin prizes. A Bitcoin address that received value after the fork won’t receive any forkcoins.

Prize Ratio

Forkcoins are often awarded te onmiddellijk proportion to the amount of bitcoin te each address (e.g. 1.582 forkcoins for 1.582 BTC) but this ratio can vary. For example, Bitcoin World awards Ten,000 BTW for every 1 BTC.

Exchange Deposit Availability

While forkcoin sites tend to advertise their partnerships with every exchange that might provide a market, only one or two exchanges will permit deposits of minor forks. Unless you had BTC te an exchange wallet that wasgoed awarded forkcoins by the exchange itself, you’ll only be able to sell on exchanges that permit forkcoin deposits.

Some exchanges don’t permit you to deposit forkcoins from outside the exchange. Te other words, they will only permit you to trade forkcoins that they issued to users who had a BTC balance at the time of the fork. The exchange that permits outside deposits usually reflects the future price of the forkcoin more accurately. The example below shows you the difference ter price inbetween “open” and “closed” exchanges.

Price differences inbetween closed and deposit-enabled markets (Exrates) are often extreme!

Note: Ter tegenstelling to Western charting practices, Eastern exchanges often use the color crimson to denote rising prices, and green or blue to indicate declining prices.

2018 Bitcoin Forks

Wij covered some of thesis forks here. Now many of them are live! A list goes after that details claimable forks available for trading on at least one market. This gegevens wasgoed accurate on February 6, 2018, but it’s subject to switch.

Bitcoin Forks Claimable via Ymgve’s Script, BitPie, and Bither

Super Bitcoin (SBTC)

Fork Height: block 498,888 (12/12/2018)

Prize Ratio: 1 SBTC for 1 BTC

Bitcoin Diamond (BCD)

Fork Height: block 495,866 (Two/11/2018)

Prize Ratio: Ten BCD for 1 BTC

Bitcoin Faith (BTP)

Market: (requires verification) &, BitPie app

Fork Height: block 500,000 (Legal/12/2018)

Prize Ratio: 1 BTF for 1 BTC

Bitcoin World (Omzetbelasting)

Market: (requires verification) &, BitPie app

Fork Height: block 499,777 (Nineteen/12/2018)

Prize Ratio: Ten,000 Omzetbelasting for 1 BTC

Bitcoin Fresh (BTN)

(price available ter BitPie exchange)

Fork Height: block 501,000 (Nineteen/12/2018)

Prize Ratio: 1 BTF for 1 BTC

Bitcoin Forks Claimable via BitPie / Bither

Bitcoin Pay (BTP)

(price available ter BitPie exchange)

Fork Height: block 499,345 (15/12/2018)

Prize Ratio: Ten BTP for 1 BTC

Bitcoin Forks Claimable via Ymgve’s Script:

Segwit2X (B2X)

Fork Height: block 501,451 (28/12/2018)

Prize Ratio: 1 B2X for 1 BTC

Bitcoin Hot (BTH)

Fork Height: block 499,777 (Nineteen/12/2018)

Prize Ratio: 1 BTH for 1 BTC

Bitcoin Pizza (BPA)

Market: (requires verification, and is possibly restricted to China)

Fork Height: block 501,888 (31/12/2018)

Prize Ratio: 1 BPA for 1 BTC

Bitcoin Vote (BTV)

Fork Height: block 505,050 (21/1/2018)

Prize Ratio: 1 BTV for 1 BTC

BitcoinX (BCX)

Fork Height: block 498888 (12/12/2018)

Prize Ratio: Ten,000 BCX for 1 BTC

Quick Bitcoin (FBTC)

Fork Height: block 501,225 (27/12/2018)

Prize Ratio: 1 FBTC for 1 BTC

Note: To keep up with forthcoming and future forks of Bitcoin and altcoins, this exhaustive list on Bitcoin Talk is recommended. It lists all block heights, but sadly, trading markets aren’t noted.

Getting ready to Rechtsvordering Bitcoin Forks: Step by Step

Step 1: Uitvoer your Private Keys

To voorkeur most forkcoins, it’s necessary to uitvoer the private keys from your old wallet by using a format that the invoer contraptions (described below) can read. Please see your particular wallet’s documentation for instructions on how to uitvoer your private keys. Te most cases, a opstopping will be generated that contains all your addresses and their respective private keys.

Certain wallets, especially hardware wallets, won’t permit you to uitvoer the private keys. Te such cases, it’s necessary to come in your hardware wallet’s seed phrase into a contraption (such spil Ian Coleman’s BIP39 Device ), which should be run offline. Another option is to invoer your seed into a compatible HD wallet, such spil Electrum.

The device or wallet will regenerate the private keys and their addresses, which permits this informatie to be imported to the forkcoin te the keurig format.

Step Two: Check the Balance of your Addresses and Make a List!

To save time, don’t invoer private keys that contain no value. You may use the and sites to check the claimable forkcoin balance of your old Bitcoin addresses.

For future reference, record all valid addresses and private key combinations ter a text verkeersopstopping or spreadsheet. Use any type of opstopping that permits you to lightly copy, paste, and substitute text. The recording format should be a private key, followed by the address.

Peak: Also number each entry, and note the approximate amount of Bitcoin that they contained at the date of the earliest fork that you’re eligible for. Numbering each key pair will prove helpful for ordering purposes.

Noting the sizes may also prove useful. For example, you can pull out the largest-valued address for rapid-exchange funding or the smallest-valued address for testing purposes.

Two Reliable “Do It Yourself” Claiming Methods

It’s possible to download the official wallet of each forkcoin te most cases, then sync its blockchain and invoer your private keys. But this method takes a loterijlot of time to sync each chain, and it’s possible that a wallet may contain malware.

There are two safer, quicker methods available for claiming the current crop of forks.

1. BitPie &, Bither

BitPie &, Bither are two Bitcoin wallets. When used together, they permit you to rechtsvordering several fork coins, including BTP (a coin that is otherwise unlikely to sell). It doesn’t work with SegWit addresses (i.e., addresses that commence with Trio, not 1) and has fairly high transfer/claiming fees.

Wij will use Bither to samenvatting forkcoins and BitPie to sell them. There’s some partnership inbetween thesis two wallets, and it seems that Bither will reject non-BitPie addresses when claiming. Bither is featured on the webpagina, so it should be fairly reliable.

The Bither wallet is available for smartphones (including Androids) and desktops, whereas BitPie is best used on an Android. Even tho’ BitPie is also available for iOS, there have bot several reports of difficulties when using that operating system.

If you don’t have an Android or would choose to do everything on your private rekentuig, install the BlueStacks Android emulator. You’ll need a Google account to access the Google Play Store, ter order to install BitPie (and Bither, if you so choose) within BlueStacks. You may be able to get around this requirement by downloading the .apk files.

BitPie has wallets and an exchange function for 6 fresh forkcoins: SBTC, Omzetbelasting, BCD, BTF, BTP, and BTN (plus Bitcoin Metselspecie and Bitcoin Gold). Once claimed, this exchange can be used to sell the forkcoins.

The Claiming Process for BitPie &, Bither

For a quick overview of the process, see the tutorial below. (But it’s not recommended for first-time users. They should use the text version instead.)

Open the Bither wallet, finish the setup process, backup your seed phrase and password, and select the gear icon at the top right:

Select “Advanced Options.”

Paste your private key spil text (which you should have obtained from Ian Coleman’s device or your fresh wallet). Bither will ask for the password you set for it, depending on whether you invoer the private keys te a compressed or uncompressed format. Select compressed. Repeat this process for all private keys/addresses that contain a claimable balance.

After importing all the relevant private keys, click “Get Fork Coins” te Bither:

Select the forkcoin you wish to optie:

Here, BCH has bot selected. Addresses are displayed on the left, and their claimable balance is on the right. Previously claimed addresses will be marked spil “You already gat [sic]XXX.” Click all “Getable” balances:

Bither will specifically request a BitPie address to send to:

You’ll need a BitPie address. So now open BitPie, finish the setup process, and backup your seed and pass. You can switch inbetween coins from the dropdown spijskaart at the top left:

Here, Bitcoin is selected. Navigate to whichever forkcoin you wish to keuze within Bither, and klapper the “Receive” tabulator:

By clicking the address displayed below the QR code, you will copy it to the clipboard:

Go back to Bither, inject the address, and click “Get”:

After a few seconds, you should get a notification from BitPie about incoming funds. Repeat the process from Step 6 (where you click “getable balance”), until all addresses are claimed.

Warning: BitPie’s UI is such that it’s effortless to mistakenly select the wrong coin. Always double-check that you’re using the juist type of coin, te order to rechtsvordering your receiving address.

Two. Ymgve’s Fork Claimer

Ymgve’s excellent script permits you to keuze 12 fresh forkcoins (and Bgold): B2X, BCD, BCX, BPA, BTF, BTH, BTN, BTV, BTW, SBTC, UBTC (which requires some toegevoegd steps, spil explained on the UBTC webpagina), and FBTC (which has a slightly different claiming process).

Ymgve’s script also supports SegWit addresses, has lower mining fees than BitPie/Bither, and permits you to send to any address. That way, coins may be sent directly to your exchange’s deposit account. However, the script does require use of the guideline line, and is a bit more complicated.

While the script evidently requires you to come in about 180 random characters for every address you voorkoop, the workload can be greatly diminished with some judicious copying, pasting, and substituting.

Ymgve’s Fork-Claiming Process

Very first, visit the GitHub pagina. It will explain that you need to install the Python Two (not Three) programming language very first, which you can download here.

Next, download the script spil a .zip opstopping:

It’s lighter to samenvatting this .zip opstopping into the same directory that you used to install Python Two. The cleaner method is to set a path to the Python directory.

Now, refer back to the list you made of claimable addresses. Look up each of thesis addresses using any Bitcoin block explorer, and find the Transaction ID (txid) of the last transaction before forktime. Inject each txid into your list, above the private key. The format of your list should now look like this:

TXID [obtainable from block explorer, last transaction before forktime]

Source Bitcoin Address

Destination Forkcoin Address [deposit address, obtainable from exchange]

Above TXID, come in the following text: python XXX (XXX is a substitute for the ticker code of whichever coin you wish to optie).

Ensure that your list doesn’t contain line violates (“enters”), spil they will cause the information to be entered overheen numerous lines when pasted into the script, which causes the script to fail.

Here’s what your list entries should look like (more or less). The parts to copy and paste have a colored background:

So ordered, this list will save you a good overeenkomst of time when injecting instructions for multi-plea addresses and forkcoins into Ymgve’s claimer device. Coming in the necessary guidelines by forearm will take forever, and has a very high chance of error.

This is how the list should look ter the end. (Notice that the amount is missing from this example.)

Let’s get down to business. Ter Windows, do not run Python from its .exe verkeersopstopping. Instead, launch a instruction window and navigate to the directory where you installed the script. If you use Linux, you should have no trouble with this step.

Select the coin you wish to voorkoop. Save your list by using a verkeersopstopping name that reflects the coin you intend to eis (e.g., scriptBCX.txt).

Use your text editor’s “Replace All” function to substitute XXX with the coin’s code (e.g., XXX becomes BCH).

Use your text editor’s “Replace All” function to set the Destination Forkcoin Address to the onberispelijk one for depositing forkcoins on your chosen exchange. Before doing so, ensure that you’re able to withdraw from the exchange without completing the verification procedures! Thesis procedures may fail, or require informatie that you’re unwilling to share. Ter that case, your coins will be trapped.

Now highlight and copy (CTRL-C or right-click copy) the following information from your list:

Python BCX [or whichever supported coin-ticker you’re claiming]

Right-click the guideline window, and paste this information. If everything is juist, the script will ask you to confirm your directive by coming in the following text:

I am sending coins on the [relevant]network, and I accept the risks.

You may copy the above text for pasting purposes, spil it will have to be entered again for every address you voorkoop. Alternately, if you’ve already entered the disclaimer, then you should be able to repeat it automatically by pressing the up arrow.

Permit the script to run for a while. It will either fail, succeed (usually within a minute or so), or get stuck ter a cycle of retrying connections. Ter the latter case, you can cancel the script (control-C ter Windows) and stir on. Note what happened with each address, so that you can retry failed or stalled addresses zometeen.

Budge down your list of addresses and private keys. Once you reach the end, save the opstopping under the name of the next forkcoin you wish to voorwaarde, then substitute the ticker codes and destination address.

Repeat spil desired, or until all your forkcoins are Bitcoin!

Consider sending Ymgve a thank-you note about his excellent script, which he proceeds to improve. Here’s his Bitcoin address: 1HDW5sy8trGE8mEKUtNacLPGCx1WRtebnp

Note: The above process relies on a block explorer to fetch the transaction ID that denotes the address value. It remains the same for all coins, except FBTC. The process for FBTC doesn’t take a TXID value, but requires you to come in the amount to voorkoop satoshis at the end. By noting the values claimed by other coins with a similar fork height to FBTC’s, you should be able to inject the keurig amount. Reminisce the eight digits after the decimal point!

Bitcoin Forks Claiming Services

If you don’t fancy the DIY treatment, you can pay a percentage (usually around 5%) of your forkcoin profits to experts who’ll treat the process for you. This is the effortless way, but wij can’t vouch for any of thesis services, since we’ve never used them. The ones listed here all seem to have received a loterijlot of positive terugkoppeling. Besides CoinPanic, they’ll require your private keys.

  • Reddit user Camku can voorkoop and sell just about anything, and seems very helpful.
  • Nbysy is another Redditor who offers a forkcoin service, and has good terugkoppeling.
  • CoinPanic is an interesting service, which doesn’t request your private keys for claiming.
  • Dig.Walleting.Services is another claiming service.
  • Loyce has a claiming service on the BitcoinTalk forum, and has much positive terugkoppeling.

DIY vs Claiming Services: Which should I use?

With a view to future forks, it’s most likely worth getting familiar with all three types of services!

BitPie is fairly effortless (albeit not without bugs and delays) and is presently the only way to sell the forkcoin known spil Bitcoin Pay (BTP). Albeit the BitPie exchange usually has worse prices than regular exchanges, it doesn’t require any private information. You should avoid storing funds long-term ter the BitPie wallet, spil its security properties are unknown.

Ymgve’s script is excellent. You’ll most likely samenvatting the most BTC and education by using it. Spil it’s usually updated whenever a valid coin is released, it’ll very likely be the quickest path to claiming and selling fresh forkcoins. It has low fees, and supports many coins. However, it can be a little time-consuming, and is perhaps tricky for newcomers.

The various claiming services can save you a loterijlot of hassle, and permit you to sell at various exchanges without the verification prices. However, thesis services take a percentage and require trust. Research each service or provider before using it! Ter the case of certain coins that are unsupported by the other Two methods or are only traded on an exchange you can’t access, a suitable service will be your only path to claiming forkcoins.

Selling Your Forkcoins

Some forkcoins will likely pump te the future, but most will diegene. There’s no reliable way to predict either of thesis outcomes.

All the linked exchanges were fair ter terms of permitting withdrawals, albeit problems are likely with thesis frequently buggy forkcoins. Almost all (chic from have English-language versions, with the button to select English usually stashing ter the top-right corner of the webpagina. Note that the verification process is sometimes tedious, and requires numerous photos, document scans, and hoop-jumping. If the process fails, an English explanation is usually lacking.

Ultimately, spil it’s not evident, the instructions for accessing the exchange ter the BitPie wallet are below. (Don’t use the “Buy / Sell” or “OTC Trade” buttons ter the top spijskaart.)

While this guide wasgoed pretty comprehensive, I’m sure you may still have questions. If so, leave them ter the comment section below, and I’ll do my best to response them. Blessed forking!

Related movie: Can You Mine Bitcoin With a Laptop?

Leave a Reply

Your email address will not be published. Required fields are marked *