Bitcoin Private was hard-forked from both Bitcoin (BTC) and ZClassic (ZCL) and it’s price has been surging lately. Bitcoin Private (BTCP) has successfully made its way up to the 25th largest cryptocurrency by market capitalization, having climbed from trading just under $14.50 to roughly $56 higher and just behind it’s crypto grandfather ZCash (ZEC).
BTCP could become a very popular crypto as it has combined the privacy features of ZClassic with the Bitcoin branding and blockchain. The only Bitcoin hard forks currently ahead of Bitcoin Private are Bitcoin Gold (BTG, 22nd) and Bitcoin Cash (BCH, 4th).
Demand for the hard-forked coin has been driven largely by its community-driven approach, transparency, two-way replay protection, lack of pre-mine, lack of founders rewards, zk-snarks privacy technology, and fast transaction speeds.
The coin has yet to make its way onto any major exchanges, currently only trading on few minor exchanges (Trade Satoshi, Nanex, Exrates, TradeOgre, Octaex, and BarterDEX). Once BTCP is traded on a major exchange like Binance or Bittrex, the value of the coin would almost certainly surge to much higher levels.
How Can You Get Yours?
Because Bitcoin Private (BTCP) was hard-forked from Bitcoin and ZClassic, anyone holding either cryptocurrency at the time of the fork is will be able to claim BTCP. As explained by BTCP’s official website:
“When the hard fork occured, a snapshot of all existing ZCL and BTC holdings occured. Anyone holding ZCL or BTC in a wallet or supported exchange has been credited Bitcoin Private (BTCP) at a 1:1 ratio. For example, if you held 15.4 ZCL and 0.1 BTC, you receive 15.5 BTCP.”
The snapshot took place on February 28, 2018, at block heights 511346 for BTC and 272991 for ZCL. If you had either digital asset at that time, you should be able to get your share of BTCP.
However, support for BTCP came only from a relatively small number of sources — meaning you can only currently expect to receive your BTCP if you held your own private keys for Bitcoin and/or ZClassic wallets.
At the time of writing it does not appear that the popular hardware wallets Trezor, or Ledger support Bitcoin Private, but this may change at any time, so it’s worth asking the support staff from each company.
If you did hold the private keys, those keys can be imported into Coinomi, Electrum BTCP, and BTCP Full Node Wallet, but make sure you always follow the included instructions, otherwise you run the risk of losing your Bitcoin or ZClassic!
When asked to comment Bittrex said they do not support the BTCP market. However, the exchange “will offer ZClassic holders on Bittrex partial support through claiming and withdrawing BTCP,” noting:
“Bittrex will make all reasonable attempts to credit our ZCL users BTCP but until we have a fully supported wallet, we can not guarantee tokens.”
Other major exchanges, such as Binance, have remained largely quiet on their plans to either support or not support BTCP. However, as mentioned earlier as soon as a major exchange does start trading Bitcoin Private you can expect the price to surge to new levels that may even make it the most valuable Bitcoin Hard Fork of all.
Comments are off this post!