Bitcoin Cash trading
Bitstamp is a exchange situated at Luxembourg. Bitstamp is a trading firm that deals between USD currency and Bitcoin currency. Bitcoin cash trading is a new platform introducing by Bitstamp recently. It allows dealing between USD, EUR, Bitcoin, Litecoin and Ethereum. Bitstamp was founded as European based alternative to the Mt. Gox exchange. The basic idea was to kill the dominance of Mt. Gox.
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Bitstamp has issued a statement regarding confirmation of implementation of Bitcoin cash trading (BHC). In order to fulfills the upcoming demand of customers for Bitcoin cash. Before end of September, Bitstamp launched its Bitcoin cash trading pairs. The trading pairs are as follows
- BCH to BTC
- BTC to USD
- BCH to EUR
Bitcoin to BHC Transformation
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By the Bitcoin’s soft fork (a time when miners or only one sided community have to upgrade into software to increase Bitcoin transaction speed). Bitstamp stated that “who wanted their BCH funds immediately” must withdraw BTC before the hard fork happen (a time when both the miners and customers communities upgrade software to improve Bitcoin transactions). As the fork time both BHC and BTC has difficulty in replacing. When user activated hard fork happened, Bitstamp will distribute their BHC tokens to the customers. When the Fork time is over then Bitcoin trading cash will be available to the customers who had purchased it before fork initiated. Bitstamp is continuously testing cash trading system and found it foolproof.
For customers want to convert Bitcoin to BCH) will have their transformation to BCH after fork in the equal amount. BCH is the fourth cryptocurrency that will listed on Bitstamp. As the Bitcoin market is strong, speculations suggest the BHC will hike too at approx $450. It is advice to keep updated with the current reforms by the Bitstamp exchange in order to avoid any problems regarding future dealing.
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