There had been rumors of new coins being added to CoinBase in 2018, but the cryptocurrency exchange surprised traders today by announcing full support for Bitcoin Cash as of December 19, 2017. The coin had already been up some 30% in the previous 24 hours prior to the announcement and within an hour of the announcement added another 25% to trade nearly at $3,500.
Bitcoin Cash was only created in August, and there has been contention between the hard forked coin and the main Bitcoin developers, and with Bitcoin Cash now on CoinBase next to Bitcoin the real fighting to see which coin will reign supreme can begin.
The news about the additional coin was announced just before 8pm EST on Tuesday December 19, 2017 on the companies blog hosted at Medium. The blog post says full support for the coin is being added, meaning you will be able to buy, sell, deposit and withdraw Bitcoin Cash from CoinBase. They did say that full functionality will not occur until there is sufficient liquidity, but they expect that to occur “within a couple of hours”.
Per the announcement on Medium:
“All customers who held a Bitcoin balance on Coinbase at the time of the fork will now see an equal balance of Bitcoin Cash available in their Coinbase account. Your Bitcoin Cash balance will reflect your Bitcoin balance at the time of the Bitcoin Cash Fork, which occurred at 13:20 UTC, August 1, 2017.”
Bitcoin Cash will be listed on CoinBase with the ticker BCH and will allow full support to the following fiat currencies: USD, EUR, GBP, CAD, AUD, and SGD.
With Bitcoin Cash added, we now wonder which coin will be next. Will they add support for Bitcoin Gold? They have said that they are holding the Bitcoin Gold coins created by the fork and will release them to clients once the coin is fully supported, so is that now in the works? We can only wait and see.
Demand for Bitcoin Cash is currently spiking, and we would expect to see the coin continue to rally strongly in the coming days. If you’re interested in getting some Bitcoin Cash before the rally dies head over to Coinbase now.