Transfer (Bitcoin) BTC from Exchange to the wallet or BTC Cash supported exchanges

As most people know that on August 1st, there will be hard fork from BTC to BTC cash. A very few exchange are supporting BTC Cash like

• Bittrex (Statement)
• Livecoin
• Okex
• ViaBTC
• Kcoin

For exchange which doesn't support BTC Cash like Coinbase, it's better to move your BTC to hardware wallet or software  wallet.

So, what you will loose if you don't transfer your BTC to wallet?

After hard fork, there will be new private key generated from your your BTC to BTC Cash. And if the exchange doesn't support BTC Cash you won't have access to the BTC Cash which will be around $383 (~ 1 BTC Cash) that's around 14.01% of your BTC ($2733).  Therefore, better to move BTC to wallet and import the private key to BTC Cash wallet later on so you will have 14.01% extra BTC.

What should you do then?

Either move your BTC to the exchange that supports and honor BTC Cash or move them to your hardware wallet or software wallet. If you want to move to software wallet, there are many wallet application that you can use.

• Electrum
• Armory
• Bitcoin Wallet
• Bitcoin Core

Link to list of wallets

Out of them some are little complicate to use and some requires to download 120GB of blocks to our hard drive. Personally, I liked Electrum and it was very easy to use.

Here are the steps:

Download and install the wallet 

Create a new wallet 

Keep the seed in secure place to recover later.

Create password to encrypt the file.

And wallet is ready to be used. Provide the Receiving address to transfer the BTC from exchange. You can choose from the addresses or create a new one.

You can keep copies of the wallet in different places for your safety in case of hardware crash or something.

File -> Save Copy 

FYI: It took around 6 hours to complete the transaction from Coinbase to Electrum wallet.