I consider myself a crypto noob, but I am writing this for who have no idea how they can sell there Bitcoin Cash after te hard fork.
What will happen on Aug1?
Some Chinese miners are going to fork to a new bitcoin chain called 'Bitcoin Cash':https://www.bitcoincash.org/
BTC holders (who own there own wallet, private keys) will then have an equal amount of Bitcoin Cash (abbreviated BCC or BCH).
I read that many people will try to sell their Bitcoin Cash and try to gain a bit from it before the price crashes. The price might go to 0 and maybe Bitcoin Cash chain dies.
How to sell?
- Look for an exchange that will support Bitcoin Cash: https://www.bitcoincash.org/
- Transfer your Bitcoin Cash there and sell it.
How will I do it?
- I will use 'viaBTC' exchange to try and sell my Bitcoin Cash.
2.Send your Bitcoin Cash to 'viaBTC' using your wallet. I use electrum wallet: https://electrum.org/#home
They have an old guide on how to acces your new coins in case of a split: http://docs.electrum.org/en/latest/hardfork.html
In case a newer clearer version comes out I will update on this post.
To be sure my BTC is secure before I send my Bitcoin Cash:
AFTER the fork I will make a new wallet and send my BTC there. After that I will use my private keys to acces my coins on the new Bitcoin Cash chain and send them to 'viaBTC', sell them.
I wrote this for some friends who have no idea what to do. Also, some time ago I made this google doc with some handy stuff for people just entering the crypto market: https://docs.google.com/document/d/10VweH0qIzTCc86H_YPZ2YR5IJVeo6VKsBmhuEk9_2Z0/edit?usp=sharing