Binance BCH Snapshot 2020: All You Need to Know322

On November 12, 2020, Binance announced that it would be taking a snapshot of BCH balances on its platform at block height 633,402. This snapshot was taken to determine which users were eligible to receive BSV tokens when Bitcoin SV forked from Bitcoin Cash on November 15, 2020.

If you held BCH on Binance at the time of the snapshot, you were eligible to receive BSV tokens at a ratio of 1 BCH to 1 BSV. The BSV tokens were distributed to eligible users on November 17, 2020.

Why Did Binance Take a BCH Snapshot?

Binance took a snapshot of BCH balances to ensure that users who held BCH on its platform at the time of the Bitcoin SV fork were eligible to receive BSV tokens. This was done to protect users from the potential risks associated with the fork.

By taking a snapshot, Binance was able to determine which users were eligible to receive BSV tokens and to distribute the tokens to those users in a fair and equitable manner.

How to Check if You Received BSV Tokens

If you held BCH on Binance at the time of the snapshot, you can check if you received BSV tokens by following these steps:1. Log in to your Binance account.
2. Click on the "Funds" tab.
3. Select "Distribution History" from the drop-down menu.
4. Find the "BSV Distribution" record.

If you received BSV tokens, they will be listed in the "Distribution History" record.

What to Do if You Didn't Receive BSV Tokens

If you held BCH on Binance at the time of the snapshot but you did not receive BSV tokens, you should contact Binance customer support. Binance customer support can be reached by submitting a ticket on the Binance website.

When contacting Binance customer support, please provide the following information:* Your Binance account number
* The amount of BCH that you held at the time of the snapshot
* The date and time that you held the BCH

Binance customer support will investigate your case and will provide you with a resolution.

Conclusion

The Binance BCH snapshot was a necessary step to protect users from the potential risks associated with the Bitcoin SV fork. By taking a snapshot, Binance was able to determine which users were eligible to receive BSV tokens and to distribute the tokens to those users in a fair and equitable manner.

If you held BCH on Binance at the time of the snapshot, you should check your "Distribution History" to see if you received BSV tokens. If you did not receive BSV tokens, you should contact Binance customer support.

2025-02-22

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