Where Is My Crypto: Coinbase Drops Support For BSV

Beginning January 9, 2024, Coinbase will discontinue support for Bitcoin SV (BSV). Customers must transfer their BSV funds out of Coinbase by this date, as selling or cashing out BSV directly to a bank account will not be possible. However, customers can send their BSV to another crypto address before the cutoff time, noting that transactions to crypto addresses are irreversible.

Failure to remove BSV from Coinbase by the deadline will result in liquidation, where the remaining BSV funds will be converted to the equivalent market value of another supported digital asset, minus any transaction fees. This process will commence around 12 PM ET on January 9, 2024, and may take several days to complete. After liquidation, customers will receive the credited digital asset in their account, subject to market fluctuations and transaction costs.

To transfer BSV off of Coinbase, users must secure a BSV-compatible wallet address. If they don’t have one, they need to generate a BSV-compatible wallet and research platforms with appropriate security, reliability, and liquidity levels. Coinbase Wallet does not support BSV, so users must find a suitable alternative for transferring their BSV holdings.