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Crypto Wallets, Explained



8.

Forks can be used to launch new coins on hosted wallets. It can take a while for them to be supported, and sometimes, crypto wallets will not support forks at all.

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Usually, developers behind hosted wallets will analyze these forks, and where possible, will check a new chain for pre-mining or other suspicious behavior. If there is no evidence of this, it is likely that the hosted wallet will support the fork – and customers who already hold coins will be credited with the new asset.

This process isn’t always slow. For example, Freewallet released a Bitcoin Cash wallet two days after the Bitcoin fork and provided new coins for users. The hosted wallet became the first provider to support the fork.

 

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