Coinbase has announced that Bitcoin Cash, the resulting forked blockchain of a Bitcoin governance dispute that come into existence earlier this year, is now available to buy, sell, send, and receive on its user-friendly primary exchange.
Per the company’s Medium post on the matter:
We’re excited to announce that customers will be able to buy, sell, send and receive Bitcoin Cash on Coinbase. You can read more about Bitcoin Cash on our FAQ page.
Sends and receives are available immediately. Buys and sells will be available to all customers once there is sufficient liquidity on GDAX. We anticipate that this will take a few hours. See our update below.
For those unfamiliar, this news mean that anyone who was holding any amount of Bitcoin in their Coinbase wallet on August 1st, 2017, the day of the fork, will now have a balance of that same amount of Bitcoin Cash.
Coinbase previously announced that it would allow its customers to access Bitcoin Cash balances from the August 1st fork, but the launch of Bitcoin Cash yesterday as an entirely tradable asset on Coinbase came as a surprise to many.
For a brief time while buys and sells were frozen after its launch, the value of one Bitcoin Cash reached higher than $8,000, although it’s unclear if any trades actually happened at that price. The price has since stabilized at around $3,400 as of the time of this writing, while Bitcoin has taken a hit — down 8% on the day.