Coinbase Rethinks Bitcoin Cash

Coinbase Rethinks Bitcoin Cash

Coinbase Rethinks Bitcoin Cash

Once supported, customers will be able to withdraw bitcoin cash.

In the case of bitcoin cash, we made clear to our customers that we did not feel we could safely support it on the day it was launched. The new currency spiked above $700 after the August 1 fork.

"From an investor's point of view, we invested in Coinbase because they have made a voluntary commitment to be regulated", Schuler said, "and to focus on being trusted and safe - as safe as you can be in an experimental environment like this". Coinbase users experienced delays of around 12 hours on withdrawals over the weekend due to the number of people moving their bitcoin.

Many users and investors remain unsatisfied with the decision of Coinbase to credit user accounts with BCH after almost five months since the initial execution of the BCH hard fork.

One of the major crypto currency exchanges, Bitfinex, announced on Thursday it now allows margin trading in Bitcoin Cash (BCH). "Not the first to market with new assets", Armstrong wrote.

Our top priority is always the safety of customer funds and we spend extensive time designing, building, testing and auditing our systems to ensure that the digital assets we support remain safe and secure.

Generally speaking, Coinbase isn't quick to take on new currencies.

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Several exchanges, including popular destinations Coinbase and Kraken, valued a single bitcoin at over $3,000, an all-time high that was up $485 on the valuation a month ago.

Some leading bitcoin exchanges including USA -based Kraken and South Korea's second largest bitcoin exchange Korbit support BCH/BTC trading and offer wallet services.

Customers with balances of bitcoin at the time of the fork now have an equal quantity of bitcoin cash stored by Coinbase. The publication further notes that those who hold bitcoin tokens before the split will have both bitcoin and bitcoin cash following the split.

That Coinbase has chose to support Bitcoin's other half indicates that it may yet have a chance to rally beside the original coin. Coinbase hopes to have it ready by January 1, 2018, which applies to GDAX as well.

In a blog post published yesterday, the company assured its customers that they would eventually get access to that digital currency.

Investors like Schuler, however, saw the Coinbase's trepidation as part of its core business strategy. "But slowly and surely, it's becoming institutionalized".

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