As promised in August, Coinbase Inc. officially added Bitcoin Cash (BCH) to the Coinbase and GDAX platforms today. As a result of the addition, the price of BCH rose more than 80% within hours of the announcement.
According to Coinbase, Bitcoin Cash has passed their criteria for addition to the platform. The company announced in an official update on Tuesday,
“We have been monitoring the Bitcoin Cash network over the last few months and have decided to enable full support including the ability to buy, sell, send and receive.”
Bitcoin Cash will be officially abbreviated on Coinbase and GDAX as BCH. The company’s original update back in August mentioned a January 2018 deadline for BCH support but left many wondering if Coinbase would actually make good on that promise.
Coinbase’s decision to not immediately support BCH left many users wondering how to claim their Bitcoin Cash on Coinbase following the fork. The good news is that if you had any Bitcoin stored on Coinbase at the time of the fork, all you have to do is log in to the platform to claim your newly minted Bitcoin Cash.
Sending and receiving BCH is available immediately, while buying and selling might take several hours depending upon GDAX’s liquidity.