Bitstamp to Introduce Bitcoin Cash Trading by End of the Month
Bitstamp has issued a statement confirming that it plans to implement Bitcoin Cash (BCH) trading pairs before the end of September. Bitstamp has cited “high levels of customer demand for Bitcoin Cash” as the principal catalyst for the announcement.
Also Read: Lead Developer Amaury SéChet Discusses the Future of Bitcoin Cash
Bitstamp Has Announced That It Will Introduce Bitcoin Cash Trading Pairs by the End of September
Bitstamp has announced that it will introduce Bitcoin Cash trading before the end of this month. The exchange plans on introducing trading pairs of BCH/BTC, BTC/USD, and BCH/EUR. Bitstamp has stated, “now that the stability of the newly created fork has been confirmed, we have also decided to add support for BCH trading”.
At the time of bitcoin’s soft fork, Bitstamp stated that customers “who wanted their BCH funds immediately” should “withdraw their BTC before the hard fork occurred.” After the user-activated hard fork occurred, Bitstamp clarified that it intended to distribute BCH tokens to customers holding bitcoin at the time of the fork, stating that “BCH balances will be made available to our customers as soon as it is safe to do so [-] if and when the Bitcoin Cash system has been thoroughly tested and is sufficiently stable, we will then consider listing BCH”. The exchange has now confirmed that “all customers who had bitcoin balances at the time of the fork now have an equal quantity of BCH safely stored at Bitstamp.”
Bitcoin Cash Will Be the Fourth Cryptocurrency Other Than Bitcoin to Be Listed on Bitstamp
This year Bitstamp, previously a bitcoin-only cryptocurrency exchange, has sought to capitalize on the growth of major altcoins by introducing new trading pairs. Last month, the exchange announced that it had introduced trading pairs for Ethereum, launching zero fee trading services for ETH markets until the 1st of October. In June, Bitstamp implemented the roll-out of several Litecoin trading pairs, following Litecoin’s activation of segregated witness. In January, Bitstamp also introduced Ripple trading pairs.
The Bitcoin Cash markets appear to have regained correlation with the price action of bitcoin, with yesterday’s 25-30% bitcoin bounce serving as the catalyst for a near 50% spike in the value of BCH – driving the price of BCH tokens from a low of approximately $300 USD to the current area of $450 approximately.
Do you think that Bitstamp will continue to introduce new markets to its platform? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, and Bitstamp
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