Major crypto wallet Blockchain.com adds partial support for Bitcoin SV, but notes it has no plans to offer full functionality for the crypto at present.
Cryptocurrency statistics and wallet provider Blockchain.com announced it had launched partial support for Bitcoin SV (BSV) in a blog post Jan. 22.
The product of a contentious hard fork of Bitcoin Cash (BCH), BSV has existed since November 15, 2018, but suffered various technical difficulties in the weeks following its creation.
Some wallet providers and exchanges were initially skeptical of the new coin, with major exchange Kraken noting BSV had “many red flags” and “should be seen as an extremely high risk investment.”
Blockchain.com, formerly Blockchain.info, confirmed Tuesday that users have some of the same options with BSV as with its four other hosted cryptocurrencies — Bitcoin (BTC), Bitcoin Cash, Ethereum (ETH) and Stellar (XLM).
“We have been tracking Bitcoin SV chain [sic] closely and will now offer limited, close out transaction support for Bitcoin SV (BSV). You will be able to view your balance, exchange BSV for BTC, BCH, ETH, and XLM through Swap, and send BSV to any address,” the blog post reads, continuing:
“We do not have plans to enable full BSV functionality at this time.”
“We will continue to monitor activity of BSV to determine how long we will maintain limited support and we’ll make sure to keep you updated on any service changes!” the blog post concludes.
As part of the wallet’s support for the cryptocurrency, users who held BCH tokens in their Blockchain.com wallet prior to the fork date will now be able to use a dedicated coin splitting tool to retrieve their duplicate BSV balance.
The tool mimics that used by Blockchain.com in 2017, when BCH forked off from the BTC chain.
BSV/USD is currently trading around $75.80, below its initial market price around $88. The asset reached a high of $243 shortly after it debuted, according to cross-exchange data from CoinMarketCap.