Gemini users to trade ABC Network Bitcoin Cash

Gemini users to trade ABC Network Bitcoin Cash

Winklevoss brothers cryptocurrency exchange Gemini will offer custody and trading for Bitcoin Cash to all its customer starting now, according to a press release published in its Medium official account.

Gemini informed all its clients that they are allowed to deposit bitcoin cash into their Gemini account on Saturday, December 8 at 9:30 am ET. Then, BCH trading will begin on Monday, December 10 at 1 pm ET.

“At this time, we will only be providing support for the Bitcoin ABC network, and we will be referring to it as Bitcoin Cash with ticker: BCH,” said the post. “We have added replay protection to all BCH withdrawals from the Gemini platform to ensure transactions are only valid on the Bitcoin ABC blockchain.”

This announcement was possible as the New York State Department of Financial Services approved Gemini’s project on Bitcoin Cash as it says the announcement.

“We have worked closely with the New York State Department of Financial Services (NYSDFS) to obtain approval to offer Bitcoin Cash trading and custody services for our customers, and we are excited to add this cryptocurrency to the Gemini platform — the world’s most regulated cryptocurrency exchange and custodian.”

The post published in the name of Eric Winer, Gemini VP of Engineering, highlights that they are “proud to provide our customers with a safe, secure, and compliant method to buy, sell, and store cryptocurrency as we build the future of money.”

Bitcoin Cash is the fifth digital currency available on the Gemini platform. Before, the company added Bitcoin, Ether, Litecoin, and Zcash.

With the new asset, the cryptocurrency exchange will add BCH/USD, BCH/BTC, BCH/ETH, LTC/BCH, and ZAC/BCH. With continuous trading, block trading and daily auction at 4 pm ET services.

Bitcoin cash trading at historically low levels

As a matter of reference, Bitcoin Cash is trading around $107.01 in the Coinbase exchange, near to its all-time low of $94.20 reached the past December 7, 2018.

BCH/USD is trading under pressure since mid-November when the hard fork sent the pair 15% down from $400 to $200 in a matter of hours. In 2018, BCH/USD is trading 95% down, while Bitcoin Cash has lost 97% of its value since its opening price in December 2017.

Technical indicators for the BCH/USD are weak as moving averages are aligned to the downside and studies are well below its midlines. However, the introduction made by Gemini will attract more customers to BCH/USD and then more traders and money into the cryptocurrency.

We can expect a rebound from lows.

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

CFD Trading Platform,eToro,Trading

eToro Lowers The FTD Minimum Across Several Countries

eToro, the social trading and multi-asset platform, has decided to lower the minimum first time deposit, or FTD. Until further updates, users who sign up today using the link below will be able to fund their trading account with as little as $50. This offer is only valid to users in selected countries. To participate […]

24 September, 2021
ChangeNOW,Cryptocurrency,Investment

ChangeNOW Launches The NOW Tracker App

The young, but fast-growing online cryptocurrency exchange, ChangeNOW, has just announced the release of its latest product. The NOW Tracker is a free asset management app that lets users keep track of their coins and tokens across different wallets. Available on Google Play and the App Store, NOW Tracker is flexible and functional. This solution […]

9 September, 2021
eToro,Investment,Trading

eToro Becomes An Official Partner Of RB Leipzig

The world’s leading social investment network, eToro, has recently announced a new and exciting partnership. According to an announcement on eToro’s Twitter page, the company has become the latest partner of the German football team, RB Leipzig. A two-year partnership agreement has been signed between the parties. Running until 2023, this agreement can be extended […]

24 August, 2021
Binance,Bitcoin,token

PSG’s Messi To Receive Part Of His Salary In Cryptocurrency

The Argentinian footballer, Lionel Messi, has made headline news several times in the past few weeks. Following his surprise departure from FC Barcelona, the player confirmed that he will be joining Paris Saint-Germain FC. The move was significantly newsworthy but got even more interest when it was announced that part of the footballer’s salary will […]

23 August, 2021
Blockchain,Casino,Ethereum

KingTiger Casino Announces Shut Down

KingTiger Casino has announced that it has ceased all operations until further notice. According to its website, the casino has had to “temporarily close” due to Ethereum network congestion. It is not yet clear if and when this online Bitcoin casino will reopen. Registered players can still access their wallet and withdraw their funds. A […]

12 August, 2021
Binance,Casino,Cryptocurrency

CryptoCasino Announces Temporary Close

CryptoCasino has stopped operating until further notice. According to a landing page on their website, the casino is undergoing an update. There is no information about when the casino will reopen or the reason why an update required the website to shut down temporarily. Players who hold a crypto wallet account with CryptoCasino need not […]

11 August, 2021
Binance,Bitcoin,SEPA

Binance Suspends SEPA Inward Payments Until Further Notice

Binance Suspends SEPA Inward Payments Until Further Notice Binance has just announced that it has temporarily stopped all incoming SEPA payments. As a result, users will no longer be able to deposit euros using the primary European payments network. The world’s largest cryptocurrency exchange did not provide any specific information regarding the reason behind this […]

12 July, 2021
Bitcoin,Cryptocurrency,Investment

Why are Crypto Holders Worried of Declaring Their Ownership?

Cryptocurrencies have been popularly regarded as the future of finance globally. Investing in virtual coins has become a lot easier than it was a few years ago with the evolving crypto industry. Over the last few years, Bitcoin has caused a lot of buzz in the market. It has established itself as the de facto […]

8 July, 2021