Coinbase announces full support for Bitcoin Cash (BCH)

On December 20, Beijing time, digital currency company Coinbase officially announced its support for Bitcoin Cash (BCH). Its users will be able to buy, sell, send and receive Bitcoin Cash (BCH) through the Coinbase platform. Affected by this news, the price of Bitcoin Cash (BCH) soared by 60%.

The original announcement is translated as follows:

We are excited to announce that our customers will be able to buy, sell, send, and receive Bitcoin Cash (BCH) through the Coinbase platform. You can read more about Bitcoin Cash (BCH) on our FAQ page.

Send and receive are available now and you can use them immediately. Buy and sell will need to wait for GDAX to have sufficient liquidity for the trading pair. We estimate this to take several hours.

Our customers will benefit from forked coins

Coinbase operates on the principle of maximizing the benefits to customers from forks or other network events. Our mission is to make Coinbase the most trusted, secure, and easy-to-use digital currency exchange.

Bitcoin Cash (BCH) was born on August 1, 2017. At the moment of the fork, all customers who had a Bitcoin balance on Coinbase would receive the same amount of Bitcoin Cash (BCH).

We have been monitoring the Bitcoin Cash network for the past few months and have decided to fully support it, including the ability to buy, sell, send, and receive. Factors we considered included developers, community support, security, stability, market price, and transaction volume. You can learn more about Bitcoin Cash here.

Our platform will use BCH as the identifier for Bitcoin Cash, and customers will be able to purchase Bitcoin Cash using all of our supported fiat currencies, including USD, EUR, GBP, AUD, and SGD.

Coinbase maintains strict trading policies and internal guidelines for employees, and Coinbase employees have been banned from trading Bitcoin Cash for several weeks.