Coinbase Reverses – Plans to Allow Bitcoin Cash Withdrawals in January 2018
Bitcoin exchange Coinbase has reversed its call to support bitcoin money. The corporate currently plans to permit customers to withdraw their new cryptocurrency by Jan one, 2018.
Coinbase on the declared an amendment of plans concerning its support for bitcoin money (BCC, BCH), the new cryptocurrency ensuing from the quarter day arduous fork. The exchange wrote:
Meanwhile, the corporate claims that each bitcoin associated BCC square measure safely hold on and customers with bitcoin balances at the time of the fork “now have an equal amount of bitcoin money hold on by Coinbase.” Its exchange GDAX additionally created the same announcement.
Previously, Coinbase same that it might not support bitcoin money. “We don’t have any plans to support the Bitcoin money fork,” the exchange wrote on July twenty-seven, citing the problem in predicting BCC’s future market price. “Customers won’t have access to, or be able to withdraw, bitcoin money (BCC).”
However, when the fork, Coin base came vulnerable to its call. As users demand access to their new cryptocurrency. “Give United States our BCC!” wrote a Twitter user. Whereas Coin base suggested customers transfer funds far from the exchange. To access BCC, one user tweeted, “transfer of funds were halted…
I assume if Coin base doesn’t hand them resolute their rightful homeowners, lawsuits may happen quickly.” Recently, news.Bitcoin.com according to those Coin base customers may instigate a category action suit over the company’s call to not distribute the new cryptocurrency.
With today’s announcement, Coin base careful that its call to support BCC relies on numerous factors like network security, client demand, commerce volumes and restrictive issues. However, some users square measure sad with the long wait. “January 2018 is simply too long,” one tweeted. “I smell a category action lawsuit headed your manner. You’re primarily holding consumer funds prisoner,” was a comment in response to the company’s weblog post.
What does one consider Coin base’s delay in distributing bitcoin cash? Allow us to apprehend within the comments section below.