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Bitcoin Cash aka BCH is Now Available on Coinbase

Updated on December 21, 2017
Guckenberger profile image

Alex has been an investor for years now. He has investments in the stock market, cryptocurrencies, bonds, and the United States Treasury.

UPDATE: As of today, 12/22/2017 - Coinbase has resolved its Bitcoin Cash (BCH) freeze, and buys are now available again!

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The Basics

Well, whether or not you celebrate the holidays - there's a new present waiting for all of us! Cryptocurrency investors who use the platform Coinbase will now be able to purchase Bitcoin Cash (BCH) on their site. The business recently added Litecoin (LTC) and Ethereum Coin (ETH) to their cryptocurrencies -which had already included Bitcoin (BTC). What makes this surprising for a lot of investors is that many customers didn't expect another electronic currency to be added to Coinbase's website until 2018. At this rate, maybe there is hope that humanity will go to mars and take photographs of under Jupiter's clouds!

Important Note

At the moment, Bitcoin Cash (BCH) trades have been postponed on Coinbase's site. No one who has already bought BCH should have any serious problems, but trades of the currency is temporarily stopped. Hopefully, any issues or concerns from Coinbase will be addressed very soon; Coinbase has a history of very quickly solving such concerns. I wouldn't be surprised if this is fixed by tomorrow.

What is Bitcoin Cash?

Bitcoin Cash (BCH) is a popular cryptocurrency. It is not the same thing as Bitcoin (BTC). Its name makes it very easy to confuse the two, and it is worthy to note that we should all be careful of titles when we invest in anything; we need to know exactly what we are buying. One Bitcoin Cash is roughly equal to 3,000 United States Dollars (USD). To sum that up real quick: 1 BCH ≈ 3,000 USD! In fact, at the moment one BCH is worth slightly more than 3,000 USD. Readers should note that cryptocurrencies are known for their quickly changing values. The value of one BCH has jumped up over 150% in value since last month alone! One year ago, one BCH was worth less than 500 USD.

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Quick Disclaimer

Now, readers should also be warned that I am not a psychic; I do not know if the value of such coins will continue to rise. It should also be mentioned that brokers and banks have been known to go out of business, and I will not be responsible for anyone's investment choices. I simply would like people to know some of the facts concerning these coins.

Personal Success

I cannot state with complete certainty what the future will hold. However, I can mention what has happened to me in the past. Since November fifth, I have invested in LTC, BTC, and ETH. Since then, my investments have more than tripled in value! Of course, part of the reason for this could be fortunate/strategic timing. I do not foresee these noted currencies going down in value anytime soon. Still, there is a lot of talk floating around the internet of cryptocurrencies being bubbles. Some people think that BTC and other currencies will eventually disappear. Others have thought that it may go down tremendously in value. Even though I do not feel these things will happen, I have to admit the possibilities. No one should ever invest money that they do not have - I feel that thinking of investments as a purchase and not a definite income is what separates the customers from the gamblers. That is to say; treat investing like anything else - do not buy a product which you cannot afford.

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In Conclusion

For those of my readers with less time, here's a very good summary. Bitcoin Cash (BCH) is now available for trading on Coinbase. BCH coins have been going up in value. BCH trades are momentarily frozen as of now. BCH may not be around forever, so never spend money on things that you cannot afford.

What Do You Think?

Is BCH a bubble? Will BCH go up or down in value? Do you like that Coinbase has added BCH? Are all cryptocurrencies bubbles? Will BCH be one of the currencies of the future? Are brokers like Coinbase laying the foundation of a newsuccessful stock market? Please tell me all of your thoughts in the comments!

© 2017 Alexander James Guckenberger

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    • Guckenberger profile image
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      Alexander James Guckenberger 3 weeks ago from Maryland, United States of America

      Blockchain has a lot of potential.

    • Glenn Stok profile image

      Glenn Stok 3 weeks ago from Long Island, NY

      Yes Alex, it’s all evolving. And the blockchain technology is evolving with it.

    • Guckenberger profile image
      Author

      Alexander James Guckenberger 3 weeks ago from Maryland, United States of America

      Glenn, I'm not sure that BTC is finished with, but I certainly see your point. New altcoins are helping to solve various problems with their predecessors. Like everything else in this Universe, internet currency is evolving.

    • Glenn Stok profile image

      Glenn Stok 3 weeks ago from Long Island, NY

      I’m glad that Coinbase added Bitcoin Cash (BCH) because Bitcoin (BTC) has run it’s course as far as I’m concerned.

      The problem with BTC is that its blockchain is only 1 MB, and that's too small for the present volume. Miners can’t keep up with it and therefore it takes a long time to confirm Bitcoin transactions, which has caused huge fees—making the use of bitcoin unsuitable for everyday commerce.

      Bitcoin Cash (BCH) was created to solve that problem with an 8 MB blockchain size. This allows for faster confirmations and lower fees.

    • The Suburban Poet profile image

      Mark Lecuona 2 months ago from Austin, Texas

      Sounds like we're on the same page!

    • Guckenberger profile image
      Author

      Alexander James Guckenberger 2 months ago from Maryland, United States of America

      It is indeed very very volatile. :o

    • The Suburban Poet profile image

      Mark Lecuona 2 months ago from Austin, Texas

      Merry Christmas to you too Guckenberger! When I said, "backed" I was referring to the full-faith of the goverment like the dollar and FDIC insurance. I feel that though Bitcoin may be labeled a currency that it is in fact an investment. As a currency it is behaving wildly and the exchange situation is so volatile that it is a total outlier without the ability of a government (unless one elects to do so which we cannot assume) to step in with monetary policy for support. Of course that it typically in a situation where the local currency is devaluing and the country is desperate (like Venezueala). I'm not an economist but in the opposite scenario I think a country would devalue in order to make it's local products affordable. But no country has pegged their products in Bitcoin so there is no backing in that sense unless I'm missing something here.

    • Guckenberger profile image
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      Alexander James Guckenberger 2 months ago from Maryland, United States of America

      Thanks Mark. To be fair, Bitcoin is backed by the Japanese government; it has recently been accepted as an official currency of their nation. This could seem concerning potentially for small businesses until it becomes more integrated, but it does add to Bitcoin's legitimacy as a currency. Merry Christmas!

    • The Suburban Poet profile image

      Mark Lecuona 2 months ago from Austin, Texas

      Nice article. My personal opinion is that it is a bubble. There is no intrinsic value to these types of cyber-currencies. Someone could say there is no intrinsic value to a quarter or a one dollar bill and they'd be right. They're not cows or wool to barter. But the fiat currency of the United States is backed by the US Government (i.e. you and me) and we have achieved the proper level of mass confidence in it's value that we will accept it without hesitation knowing we can lay it off to another person without any problems. Though there are inflationary pressure and exchange rate fluctuations, the fiat currency of the United States (along with the other stable currencies of the world) is the only form of exchange that is acceptable beyond barter of other assets or swaps. This is all probably very fundamental but I believe it is important to remember.

      Bitcoin itself is more of an investment and not currency. Even companies such as Dell (my information may be dated) who advertised they were accepting Bitcoins as a form of payment were merely providing a link to make the exchange from Bitcoin to dollars convenient for purchasers wishing to monetize their Bitcoins. In the normal transactions, Dell was not taking the risk of currency fluctuation on. They were only helping you convert it to cash. I believe they were a bit disingenuous the way they were making it seem as if Bitcoin was now as acceptable as your credit card.

      In the end, some people will make (have made) incredible returns on Bitcoin (cash) due to the hype and timing of the market. Others will be left holding the bag.

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