ZClassic Free at Last, Cryptopia Allows Withdrawals

Just a week away from the hard fork, users can park their coins in safe wallets.

ZClassic (ZCL) withdrawals will be available from the New Zealand Cryptopia exchange. The service, where a lot of lesser known coins and tokens are traded, suddenly became beleaguered by traders who wanted to take in their ZCL coins, to be able to claim Bitcoin Private coins after the February 28 snapshot date.

Now, Cryptopia has announced it would release the coins:

Problems taking coins from exchanges have unnerved investors in the past. The most recent case was that of Nano (XRB), where initially owners believed BitGrail had a temporary problem, but then went on to lose their coins in a hacking.

Cryptopia has also had trouble with anonymous coins, such as Electroneum (ETN). The reason for this is that sending anonymous coins needs some extra information, in order to link the balance to an account. Sending anonymous coins to exchanges should be done with extreme care, providing all identifying information, so the transaction is not lost.

To split the coins, the Coinomi wallet has become the go-to service for many newly forked digital assets:

#Zclassic is now officially available on @CoinomiWallet. After the fork #BitcoinPrivate will also be available!

— Bitcoin Private (@bitcoinprivate) February 20, 2018

Cryptopia itself has created a mechanism for any ZCL coins remaining on the exchange. Users who do not receive their balances into their own wallets would be credited with BTCP through Cryptopia.

However, the exchange will not credit Bitcoin holders with BTCP coins. For now, Cryptopia does not intend to create BTCP trading pairs.

We have made an update on our news page regarding ZCL withdrawal issues and ETH deposits here on our news page: https://t.co/en86z7zF2i

— Cryptopia Exchange (@Cryptopia_NZ) February 20, 2018

In the days leading to the snapshot, the ZCL market price has spiked to $180. But in the past 24 hours, ZCL is down more than 12% to $158.30. The price remains uncertain, and it seems ZCL did not manage to fulfill the prognosis of attracting enough buyers to reach $300 before the fork.

Besides, receiving BTCP is also available through purchasing Bitcoin, which is now seen as containing much less risk compared to ZCL.

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