In the field of cryptocurrency, forked coins have always attracted much attention. People are eagerly discussing the actual value of these digital assets and how to obtain them. Do forked coins have value? How to obtain these mysterious digital wealth? This article will explore these issues in depth from multiple angles, lift the veil on forked coins, and take you to find out.

Before discussing whether forked coins are valuable, the editor of the currency circle believes that investors should first understand what forked coins are. The literal meaning of forked coins is the coins generated after the fork. The two split chains share the hard fork. All transaction data before the fork, so theoretically, as long as users hold the digital currency before the hard fork, they can obtain an equal amount of fork coins for free. After understanding the fork coins, let’s return to the topic. Fork coins have Value? Below, the editor of the currency circle will tell you in detail whether forked coins are valuable?

 Are forked coins valuable?

There are also great differences of opinion among insiders about the fork chaos. Some people believe that forks are accelerating people's madness, just like speculating on China's magic cars and speculating on high-altitude transfers during the bull market, and the bubble is constantly being inflated. Some people also believe that the continuous forks are an extreme way to protect Bitcoin. When the small forked currencies return to zero, the legitimacy of BTC will be maintained.

The editor of the currency circle holds a neutral attitude towards forks without pre-mining behavior. Especially if there are really technical changes or innovations, it can play a positive role in the development of cryptocurrency. But many forks with pre-mining are really just "printing paper in exchange for money."

In particular, we must remind you that many small trading platforms will launch XX forked coins for the "world's first time", which involves very high risks. Many XX forked coins have not even reached the block height of the fork, and some trading platforms actually have air futures for speculation, which is really speechless. Because there is not much circulation, these air futures can often be speculated to very high prices, which attracts everyone's attention.

The editor of the currency circle strongly advises readers not to participate in this kind of speculation, as the risks are quite high. If you are not careful, these so-called candies may turn out to be poison.

Not long ago, the trading platform BitMEX announced that it would no longer issue any forked coins. All forked coins will be sold and converted into BTC and distributed to customers. This is the clearest view and attitude among the mainstream trading platforms. According to online rumors, some trading platforms have begun to form alliances to resist arbitrary forks. The editor of Cryptocurrency Circle hopes that the trading platform can take a positive attitude and help users identify valuable forked coins and those "cheating" forked coins, and truly safeguard the cryptocurrency ecology and the fundamental rights and interests of users, rather than just to make money. Coin listing fees, and blindly catering to users’ expectations of “distributing candy”.

 How to obtain forked coins?

Obtaining forked coins is actually very simple - you just need to do nothing and wait for the height of the fork to arrive. Many readers will think that you can only get this forked currency on the trading platform and not in your own wallet. This is a misunderstanding.

Let’s review this picture: When a new chain forks appears, the chains before the bifurcation point of the old chain and the new chain are actually the same chain. Therefore, whatever balance you have in your account before the fork point can be "inherited" in equal proportions on the new chain. Most forked coins are 1:1, and some are 1:10 or even 1: 100, it’s all a numbers game anyway, just understand.

Do nothing, then what? It depends on whether the wallet you use supports the display of forked coins. As a so-called cryptocurrency user, you should know that our coins are not “inside” the wallet, but in the blockchain. The function of the wallet is just to help us "see" the number of these coins from the massive data in the blockchain, and to make it easier for us to manage and use it.

Therefore, don’t worry if you can’t see it. Do not perform transfer operations before the predetermined fork height. In theory, your forked coins are already in your wallet address. The next step is to wait patiently. Most of the forked currency teams do not have the development capabilities of BCH and often need IFO money to slowly develop and improve their new chains.

When the new chain comes online, some wallets will support them. Then import your private key into the wallet that supports this forked currency, and you will be able to "see" and use these forked coins. However, the editor of the currency circle would like to remind everyone that you must keep your eyes open when choosing a wallet for forked coins. Don't be defrauded of your private key just for a little "candy". It will be a big loss outweighing the gain. In any case, if you are not 100% sure that the wallet software is safe and trustworthy, then do not import the private key! Do not import the private key! Do not import the private key!

For retail investors, the most convenient way is to put the coins on a trading platform you trust before the block height of the fork. They will help complete the snapshot and coin splitting, and some can be traded on the platform immediately. However, for a responsible trading platform, it is often necessary to wait until it is confirmed that the new chain can operate normally and has no fatal flaws such as replay attacks before opening transactions and currency withdrawals. Observing the attitude of various trading platforms towards forked coins is one dimension to understand and evaluate the reliability of these platforms.

The above is the relevant content about whether forked coins are valuable. The editor of the currency circle reminds investors that not all forked coins are generated by hard forks, only hard forks caused by serious differences between the two parties, and both parties have received enough Only with the support of community members can forked coins be produced and survive. For example, the Ethereum Constantinople upgrade is a hard fork, but there are no differences in the community, so there are no surviving forked coins. Of course, The surviving forked coins are basically the ones that resulted in hard forks due to disagreements.