Coinbase, a leading cryptocurrency exchange platform, has expanded its iOS app functionality by adding support for Bitcoin Cash (BCH) trading. This update follows the August 2017 Bitcoin fork that created Bitcoin Cash—a cryptocurrency now gaining traction due to its enhanced processing capabilities.
What Is Bitcoin Cash?
Bitcoin Cash emerged from a blockchain fork, described by Coinbase as:
A change to the software of the digital currency that creates two separate versions of the blockchain with a shared history.
Forks can be temporary or permanent, the latter resulting in two distinct cryptocurrencies.
Initially, Coinbase hesitated to support BCH but later committed to allowing withdrawals before 2018. Today’s announcement marks full trading support, including buy/sell functionality.
Key Updates for Coinbase Users
- Balance Credits: Users holding Bitcoin (BTC) during the August 1, 2017 fork received equivalent BCH balances.
- Market Impact: BTC dropped 10% post-announcement, while BCH surged.
- Technical Strain: High demand temporarily disabled BCH trading for some users, though sends/receives remain operational.
Why Bitcoin Cash?
BCH is praised for faster transaction speeds, positioning it as a "true Bitcoin" alternative by some enthusiasts.
👉 Explore Bitcoin Cash on Coinbase
FAQs
Q: How do I access my Bitcoin Cash on Coinbase?
A: Check your account—balances matching your BTC holdings at the time of the fork are automatically credited.
Q: Why did BTC’s price drop after this update?
A: Increased BCH adoption may have diverted investor interest, temporarily impacting BTC’s market value.
Q: Is Bitcoin Cash trading stable on Coinbase now?
A: Services are normalizing after initial server strain; check the app for real-time status.
👉 Learn more about crypto forks
Coinbase is available as a free download on the App Store, though users experiencing app issues can also access services via their website.
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- Bitcoin Cash (BCH)
- Coinbase
- Cryptocurrency fork
- BTC price drop
- Trading support
- Blockchain update
- iOS app
- Market impact
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