Coinbase has officially rolled out support for Bitcoin Cash (BCH) on its platform, fulfilling its earlier promise to integrate the cryptocurrency by year-end. While the launch faced hiccups—including extreme price volatility—users can now buy, sell, send, and receive BCH alongside Bitcoin (BTC), Ether (ETH), and Litecoin (LTC).
Key Developments in Coinbase’s Bitcoin Cash Launch
1. Initial Hesitation and Final Approval
After Bitcoin’s blockchain underwent a hard fork in 2023, creating Bitcoin Cash, Coinbase cautiously evaluated the new network’s stability, security, and community backing before committing to support. In a blog post, the exchange cited factors like developer activity and trading volume as decisive criteria.
2. Rollout Challenges
- Price Volatility: During the launch, BCH’s price briefly spiked to $8,500—over double its market rate—due to a suspected technical glitch. Coinbase voided all orders placed at the inflated price.
- Employee Restrictions: To prevent insider trading, Coinbase barred employees from BCH transactions weeks before the launch.
“Coinbase maintains strict internal trading policies. Employees were prohibited from Bitcoin Cash trading prior to the rollout.”
— Coinbase Official Statement
3. Current Availability
- Sending/Receiving: Enabled immediately.
- Buying/Selling: Required liquidity on GDAX (Coinbase’s exchange platform), which went live shortly after launch.
- Supported Fiat Currencies: USD, EUR, GBP, CAD, AUD, and SGD.
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Why Bitcoin Cash Matters
Key Differences from Bitcoin
| Feature | Bitcoin (BTC) | Bitcoin Cash (BCH) |
|---|---|---|
| Block Size | 1 MB | 32 MB |
| Transaction Speed | Slower (high congestion) | Faster (scalability focus) |
| Use Case | Store of value | Everyday transactions |
Adoption and Market Impact
Bitcoin Cash aims to solve Bitcoin’s scalability issues, making it appealing for merchants and users prioritizing low fees and speed. Its addition to Coinbase signals growing legitimacy among major exchanges.
FAQs About Bitcoin Cash on Coinbase
1. When did Coinbase start supporting Bitcoin Cash?
Coinbase enabled BCH transactions on December 20, 2023, after months of evaluation.
2. Why was trading paused initially?
Price fluctuations (reaching $8,500 due to a glitch) forced Coinbase to suspend trading temporarily.
3. Can I convert Bitcoin to Bitcoin Cash on Coinbase?
Yes, through the platform’s trading pairs, but check liquidity and fees first.
4. Is Bitcoin Cash a good investment?
While BCH offers faster transactions, its long-term value depends on adoption and market trends.
5. How does Coinbase ensure fair trading?
Employee trading restrictions and real-time market monitoring prevent manipulation.
👉 Explore Bitcoin Cash trading strategies
Final Thoughts
Coinbase’s Bitcoin Cash integration marks a milestone for BCH adoption, despite technical hurdles. For users, it expands crypto portfolio options—but always research risks and market conditions before investing.