Bitcoin split: Now you have double cryptocurrency in form of Bitcoin Cash.

  Today, Bitcoin was split into Bitcoin Cash, an alternative cryptocurrency, in a chain split that had been anticipated for months. The split, called a HARD FORK comes out of a Bitcoin group’s desire to combat high transaction fees and a high BTC size limit that made mining larger blocks invalid.

This has a nuanced implication for Bitcoin owners. If you own Bitcoin and control your private keys, the same private keys can be used to spend your newly minted Bitcoin Cash or BCC.

If you own Bitcoin but don’t control the keys, then it depends on whether you’ve chosen to keep your bitcoins on a Bitcoin Cash-friendly platform or digital wallet. Each platform is treating the new Bitcoin Cash differently. To enjoy this extra currency, you should check with your platform and wallet to see what the company policy is.

Meanwhile, the world’s most popular cryptocurrency exchange, COINBASE has rejected BItcoin Cash to some customers’ chagrin. It argues that their systems can’t support Bitcoin Cash without a major system rework that is currently not worth the unknown value of Bitcoin Cash.