OKX Updates on BCH Fork and C2C Lending Adjustments

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In response to the upcoming Bitcoin Cash (BCH) network fork, OKX has announced critical updates to its C2C lending services to protect users and maintain platform stability. These changes are designed to minimize financial risks, prevent unexpected penalties, and ensure smooth operations during the blockchain split. This article outlines the revised timeline, key actions required from users, and broader platform enhancements that reinforce OKX's commitment to security and transparency.

Key Changes to BCH C2C Lending Services

To proactively address potential complications arising from the BCH fork, OKX has moved forward the deadline for discontinuing BCH as a collateral option in its C2C lending system. Originally scheduled for November 8, 2020, at 11:00 HKT, this feature will now be disabled earlier — on October 29, 2020, at 17:00 HKT.

👉 Discover how OKX protects your assets during blockchain forks with advanced risk management tools.

This adjustment allows users more time to manage their positions before the network event occurs. By removing BCH as a viable质押 (collateral) asset ahead of the fork, OKX aims to reduce confusion and prevent disputes related to valuation differences between BCH and its potential forked counterpart (such as BSV).

Users who have borrowed USDT using BCH as collateral must repay their loans before November 14, 2020, at 11:00 HKT. Failure to do so will trigger an automatic forced repayment by the system. This mechanism ensures loan-to-value ratios remain within acceptable limits and prevents cascading liquidations across the platform.

Why Timing Matters During a Fork

Blockchain forks can introduce uncertainty into digital asset markets. When a hard fork like the BCH split occurs, it often results in the creation of a new cryptocurrency (e.g., BSV), which may or may not retain value. For lending platforms, this creates challenges in determining:

By taking preemptive action, OKX avoids these ambiguities and shields users from unexpected interest charges or margin calls due to sudden price volatility.

Enhanced Transparency: Proof of Reserves at OKX

Beyond handling fork-related adjustments, OKX continues to lead in operational transparency. In July 2023, the exchange published its ninth Proof of Reserves (PoR) report, confirming that all 22 audited cryptocurrencies — including BTC, ETH, and USDT — maintained reserve ratios exceeding 100%.

Notably:

This level of transparency reassures users that their deposits are fully backed and strengthens trust in the platform’s financial integrity.

New Feature Alert: Price Lock Strategy Now Live

OKX continues innovating with user-centric trading tools. On September 20, 2022, the platform launched its Price Lock Strategy, available on both web and mobile apps.

This feature allows traders to:

For example, if you expect BTC to drop but want to guarantee a minimum sale price, Price Lock enables you to protect profits without constant monitoring. It's particularly useful during high-volatility periods or around major events like forks or macroeconomic announcements.

Market Insights: Notable Gainers on OKX

On April 7, 2021, OKX observed significant movement among altcoins. The top performers included:

BTC also showed resilience, stabilizing above 57,900 USDT after a brief rally.

While past performance doesn't predict future results, such data highlights OKX’s role as a real-time barometer for emerging trends in the crypto space.

Frequently Asked Questions (FAQ)

Q: What happens to my BCH if I don’t repay my C2C loan before November 14?
A: If you fail to repay your borrowed funds by 11:00 HKT on November 14, 2020, the system will automatically initiate a forced repayment using your pledged BCH. This could result in partial or full liquidation of your collateral.

Q: Will I receive forked tokens like BSV if I hold BCH on OKX?
A: Typically, OKX supports eligible users receiving forked assets. However, since BCH was removed as collateral before the fork date, only users holding BCH in spot wallets at the time of the split would qualify. Check official announcements for distribution details.

Q: Is OKX safe during volatile events like hard forks?
A: Yes. With reserve ratios consistently above 100% and proactive risk controls — such as early deprecation of fork-prone collateral — OKX prioritizes asset safety and platform stability during uncertain times.

Q: How does the Price Lock feature protect my trades?
A: Price Lock lets you lock in a favorable price for part of your order within a set timeframe. Even if the market moves sharply against you, that portion is guaranteed to execute at your chosen rate, helping manage downside risk.

Q: Can I still trade BCH after October 29?
A: Yes. While BCH is no longer accepted as collateral in C2C lending after October 29, regular spot and futures trading remain unaffected.

👉 Secure your crypto investments with OKX’s transparent reserves and advanced trading protection tools.

Final Reminders for Users

Digital assets are innovative but inherently volatile. As highlighted by OKX, investing requires:

Before engaging in lending, trading, or holding any cryptocurrency, take time to assess your risk tolerance and financial goals.

OKX remains committed to delivering secure, transparent, and user-first services — whether through timely policy updates during network splits or launching cutting-edge features like Price Lock.

👉 Stay ahead of market shifts with OKX’s real-time insights and protected trading environment.

As the crypto landscape evolves, platforms that prioritize user protection, transparency, and innovation will continue to lead. OKX’s actions around the BCH fork reflect this philosophy in practice — putting users first while maintaining operational excellence.

Note: All dates referenced in this article are preserved only where directly relevant to historical context. Any outdated promotional content or external links have been removed per editorial guidelines.