Effective January 9, 2024, Coinbase no longer supports Bitcoin SV (BSV).
What happened if I kept my BSV on Coinbase?
After the deprecation date, any BSV funds in your Coinbase account were liquidated and converted to the then-equivalent market value of a stablecoin (either USDC or DAI) and credited back to your account.
What did this look like?
As of January 9, 2024 (at or around 12PM ET) customers are no longer able to withdraw BSV.
Coinbase began the liquidation process, which took place from January 9 through February 2, 2024.
For customers in regions where USDC is supported:
Digital Asset Received: USDC
Exchange Rate: $74.46
For customers in all other regions:
Digital Asset Received: DAI
Exchange Rate: $74.42
FAQs
Was I charged any transaction fees?
No. There were no transaction fees associated with this liquidation.
Where can I see the BSV transaction history in my account?
Customers can view transaction history by checking Transaction by Asset or Tax Information (for US customers).
How was the applicable exchange rate calculated?
The exchange rates above reflect the weighted average rates at which we were able to liquidate BSV over the period indicated above as part of our global liquidation process.
Why did customers receiving DAI receive a different exchange rate from customers receiving USDC?
Slight differences in the USDC and DAI exchange rates are due to market deviations in the quoted price when converting BSV to DAI
For more information on transactions involving unsupported assets at Coinbase, please review the Coinbase User Agreement.
Eligible customers can see the credited amount in their account in either USDC or DAI as a transaction with note: Asset_Delisting: BSV
Note: You may also have incurred tax liability or have other unanticipated tax consequences as a result of the liquidation or conversion. Customers are solely responsible for any taxes associated with transactions on Coinbase.