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