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Coinbase Supporting Bitcoin Cash Despite Volatility

Aug 4, 2017 BitcoinBitcoin CashNews 0

One of the more well-known exchanges, Coinbase, will begin accepting Bitcoin Cash starting January 1st, 2018. A recent blog post released by Coinbase ensures it’s existing customers, that both Bitcoin (BTC) and Bitcoin Cash (BCH) remain safely stored on the exchange. This announcement comes after Coinbase stated they will not be supporting the fork in a blog post posted on July 27th. They were advising customers to withdraw their funds and transfer them to supporting exchanges if they wish to obtain BCH.

Currently, BCH sustains a market capital of $5,689,350,042, which was achieved in a matter of four days and hit a high of $747 USD.

Bitcoin Cash
Bitcoin Cash Chart by coinmarketcap.com

A new asset, like Bitcoin Cash, will continue to see heavy volatility as users will try to secure profits. The long term goal for BCH is to improve the digital currency’s network capacity and transaction efficiency. Coinbase may have the right idea by giving it time to settle into the cryptocurrency market, avoiding any technical or environmental issues it faces in the future.

Other exchanges that will be supporting BCH can be found here.

 

You may also like to read: A Useful Chart Illustrating Crypto Exchanges Accepting Bitcoin Cash

 

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Jacques Y

Jacques is a founding partner and CEO of CryptoCanucks.com with a background in marketing and finance. He has a well-rounded foundation of knowledge in Investing, trading, blockchain and researching both Forex and the Cryptocurrency markets.

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