Coinbase Flips on Bitcoin Cash Decision, Promises Support

themystic (47)in #trevonjb • 7 years ago

Coinbase has had to put up with the ire of its users, as well as threats of a lawsuit, in regards to the decision not to support Bitcoin Cash, and it looks as if that pressure has forced their hand.

In the lead up to the hard fork of Bitcoin on Aug. 1, which resulted in a new digital currency called Bitcoin Cash, many exchanges announced they would not be supporting the fork which was expected to be a small event.

In the end, Bitcoin Cash surged despite its low hashing power, hitting upwards of $700, and because the fork was off Bitcoin, it meant that any person holding the original currency was entitled to an equal amount of Bitcoin Cash.

Thus, once the support is fully in effect, customers will be able to withdraw Bitcoin Cash. However, Coinbase has also stated that it will make a decision on trading support at a later date. But in the meantime, customers Bitcoin Cash will remain safely stored on Coinbase.

Source: cointelegraph.com