Bitcoin Cash Present and Future: Debit Card and BCH Pairs
Bitcoin Cash Present and Future: Debit Card and BCH Pairs
Bitcoin Cash has looked like the weakling of the top ten coins in the last few weeks, showing the least strength during this large crypto rally. But in the wee hours of the morning Bitcoin Cash is beginning to show some big upward movements after a long period of relative dormancy. It has moved up 50 percent against bitcoin in the last 48 hours, returning to last weeks levels. The USD price is also showing signs of strength, having moved up 30% since Sunday.
With Bitcoin Cash having been dormant so long while other coins making strong moves upwards, many have been wondering if this isn’t the slow and steady death of Bitcoin Cash, even as Roger Ver goes about promoting it in every single appearance he makes. With Bitcoin doing so well, and the price of BCH/BTC dropping to a month long low of .07 BTC, this surge seemed to have been the death blow for many Bitcoin Cash supporters. But there are signs of life as the coin is making these upwards moves and with a lot of good news coming out, we will have to see if Bitcoin Cash attempts a rally over the following next few days.
Bitcoin.com BCH Debit Card
One of the most significant pieces of news to come out for Bitcoin Cash is the release of a debit card that supports it. Bitcoin.com, the website that operates the largest Bitcoin Cash mining pool as well as many other services, has announced the release of a debit card that can be used with Bitcoin Cash. Although there are many other credit cards that support cryptocurrencies, this is the first that is based upon a single cryptocurrency. This should help to drive up the price of Bitcoin Cash as it increases usage and becomes “spendable;” something that Bitcoin, with fees that are currently being over 16 USD.
OKEx BCH Pairs
The other very significant piece of news coming out is the addition of an exchange that uses BCH trading pairs. This means that it will be possible to buy other cryptocurrencies with Bitcoin, as is currently common with Bitcoin and Ethereum. This exchange is OKEx, an exchange operated by another large Bitcoin Cash mining pool, ViaBTC. This is currently the seventh largest crypto exchange according to volume, with daily volume reaching 1,181,211,849 USD, (1,286,442,876,279 KRW.)
Creating BCH pairs helps the cryptocurrency in two ways. First it seperates Bitcoin Cash from many other altcoins in that it joins Bitcoin and Ethereum in being the only coins that are traded as a base currency. This adds legitimacy to Bitcoin Cash’s claim to being a top-tier cryptocurrency, which helps silence those who claim it to be “just another trashcoin.” Secondly, it adds liquidity to the coin, increasing the volume across all the trading pairs that it is on. This will bring both stability to the price while also adding demand for the coin overtime. Now it will be important to see if other exchanges follow suit in adding BCH pairs.
Original Article From: https://coinone.co.kr/talk/listed/928/?category=BCH&ordering=-created_at&page=1