“Bitcoin Cash” updated @ Poloniex

Well I’ve been minding my offline chores for about two weeks and Poloniex had a “Bitcoin cash (BCH)” update. I’ve just logged in and noticed this on my balance account:

bitcon cash BCH added to poloniex balance

This is what Poloniex wrote in explanation on their site:

August 3, 2017

BITCOIN CASH UPDATE

We’ve received several inquiries about Bitcoin Cash (BCH) since the fork on 8/1/2017. Our hesitation to immediately support BCH or any other Bitcoin (BTC) derivative was and is born out of the desire to ensure the security of network operations and the safety of our users’ tokens.

We will be crediting users who had BTC in their account balance at the time of the fork with matching BCH. We expect this to occur on or before 8/14/17. Keep in mind that we have not yet determined if we will be listing BCH as a market on Poloniex nor can we commit to supporting BCH withdrawals right away. The ability to withdraw BCH will depend on network stability which is completely outside of our control.

We appreciate everyone’s patience on the matter.

– The Poloniex Team

Basically, if you had BTC on your balance, you now have that AND the same amount of BCH. This seems like a sweet deal, I mean more of everything is a good thing, right?

You can already trade BCH against USDT, this is how Bitcoin Cash price chart looks right now:

bitcoin cash price august 2017

Looks like there are more trading opportunities as Bitcoin was forked into two competing entities. Which one is going to prevail? What’s your take? Share your opinion in the comments!

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