Coinbase Rolls Out Bitcoin Cash Support

Several months after promising it would add support for Bitcoin Cash to its exchange by the finish of the year, Coinbase hit its borderline last dark, albeit with a few snags.

Customers can now buy, sell, send, and receive Bitcoin Cash, which joins Bitcoin, Ether, and Litecoin on the popular cryptocurrency substitution and mobile wallet app.

When Bitcoin's blockchain network executed a hard fork this summer, spawning Bitcoin Greenbacks, Coinbase was hesitant to embrace it simply ultimately announced it would add support by year's terminate.

"We accept been monitoring the Bitcoin Cash network over the last few months and have decided to enable full support including the ability to buy, sell, send and receive," Coinbase wrote in a Tuesday blog post. "Factors we considered include developer and community support, security, stability, market cost, and trading volume."

The rollout, however, was not a smoothen i. Prices fluctuated wildly—briefly reaching $8,500, or nearly three times higher than the electric current market price of around $3,500. Coinbase was so forced to abolish all orders made on the inflated price and clear the books.

Though Coinbase has not yet confirmed, the $8,500 price was most likely due to a glitch in the commutation. Yet, for those concerned virtually insider trading, Coinbase CEO Brian Armstrong was quick to point out that Coinbase employees are locked out of the Bitcoin Cash game for now.

Coinbase maintains a strict trading policy and internal guidelines for employees. Coinbase employees have been prohibited from trading in Bitcoin Greenbacks for several weeks.
— Coinbase (@coinbase) December 20, 2022

As of this forenoon, sends and receives of Bitcoin Cash are available. Ownership and selling will open "every bit soon as there is sufficient liquidity on [Bitcoin exchange] GDAX," which according to tweets from Coinbase and GDAX should come equally presently as 9 a.thousand. PST today:

An update on Bitcoin Cash for our customers: sends and receives are functional.

Buys and sells on https://t.co/bCG11KMQ6s and in our mobile apps will be bachelor to all customers in one case there is sufficient liquidity on GDAX. We anticipate that this will happen tomorrow. https://t.co/8obYSZB1NK

— Coinbase (@coinbase) December 20, 2022

Coinbase confirmed that users volition be able to buy Bitcoin Cash using all of its supported fiat currencies: USD, EUR, GBP, CAD, AUD, and SGD.

About Rob Marvin

Rob Marvin

Rob Marvin is PCMag's Associate Features Editor. He writes features, news, and tendency stories on all manner of emerging technologies. Beats include: startups, concern and venture majuscule, blockchain and cryptocurrencies, AI, augmented and virtual reality, IoT and automation, legal cannabis tech, social media, streaming, security, mobile commerce, Thou&A, and amusement. Rob was previously Assistant Editor and Associate Editor in PCMag's Concern section. Prior to that, he served as an editor at SD Times. He graduated from Syracuse University'due south S.I. Newhouse School of Public Communications. You tin can too find his business organisation and tech coverage on Entrepreneur and Fox Business concern. Rob is also an unabashed nerd who does occasional entertainment writing for …