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Centbee updates to Bitcoin SV, the original Bitcoin protocol

Our aim at Centbee is to provide a reliable, safe and user-friendly Bitcoin wallet for people all over the world. We believe that the original Bitcoin protocol, as defined by its inventor, Satoshi Nakamoto, is the most secure and stable cryptocurrency. We’re fully committed to building value for our customers using the most sustainable blockchain – Bitcoin SV.

The 15th November scheduled software upgrade to Bitcoin cash (BCH) was contentious, causing disagreement within the Bitcoin cash community. As a result, Bitcoin cash (BCH) split into two separate coins. Cryptocurrency exchanges around the world have differentiated the two coins using the ticker symbols BCH (Bitcoin ABC blockchain) and BSV (Bitcoin SV blockchain). Right now, both coins can be sent between BCH and BSV wallets using the different software implementations, but that may change.

We believe that only the original Bitcoin protocol has the technical and economic fundamentals to become global money and so we will only be supporting Bitcoin SV (BSV). Users who held Bitcoin cash (BCH) in their Centbee wallets on 15th November 2018 now have two coins, BCH and BSV. The two coins trade at different prices on cryptocurrency exchanges. In the transition period between 15th November and 4th December 2018, your Centbee wallet displayed the weighted average price of these two coins, labelled as BCH in the exchange rate indicator at the bottom of the home screen. This was creating confusion for customers. On 4th December 2018 we updated the exchange rate indicator, labelling the coins as BSV. Even though the label has changed, you still have the same amount of both coins (BCH and BSV) in your wallet.

Many customers want to make use of both coins (BCH and BSV). In order to access both coins, you need to ‘split’ them by sending them from your Centbee wallet to a cryptocurrency exchange or wallet that offers a ‘splitting’ service. Centbee is not affiliated with any specific service and so it will be up to the customer to choose a reliable service they feel comfortable with. Centbee cannot be held responsible if a service selected by a customer fails to satisfy their requirements. Do not provide anyone with your Centbee PIN, or your 12-word ‘mnemonic’ (secret phrase)! Remember to send your BSV coins back to your Centbee wallet after splitting them.

Centbee will continue to support the original Bitcoin vision as represented by Bitcoin SV and coins held in our wallet will be secure.

Our friendly Support Team is available to help in any way they can and can be contacted through these channels:

Email: support@centbee.com

Twitter: @CentbeeSupport

Telegram: https://t.me/centbee

Keep your Centbee wallet updated with the latest software version because we’re launching a number of great new features soon so that we make Centbee the easiest way to store, spend and send Bitcoin.

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