Why Coinbase did not listed Bitoin Cash ?

Coinbase Comes Under Glare For Not Syncing With Bitcoin Cash

With the constant upheavals going in the thunderous world of cryptocurrency, Coinbase a hotshot startup found itself in the eye of the storm following its disagreement of favoring Bitcoin Cash. This paved the way for mass exodus of Coinbase users before the hard fork which took place on 1^st August 2017 with some threatening to take legal action against the former and others suspecting its association with hackers and NSA.

Their biggest fault was not supporting the new born cryptocurrency which according to many is all set to take over the world of cryptocurrency by storm in coming days.

This negative publicity is putting a big question mark on the future functioning and longevity of this cryptocurrency exchange platform which itself was on the path of carving out its own success story.

However Coinbase backers are not much affected by these recent turn of events which they expect to subside with time without having detrimental effect on the startup’s functioning.

Investors who still have their cash parked in the Coinbase platform feel secured about the cryptocurrency exchange’s decision of being regulated in the currently experimental environment. And although Coinbase did not welcome Bitcoin Cash with open arms following the split, it can change its policy in line with the same early next week if Bitcoin Cash shows steady performance.

Other faithful investors are of the view that this brave step of Coinbase can go a long way in increasing the value of the old Bitcoin equivalent as its conservative approach increase the accessibility of cryptocurrency by users who are not much accustomed with the technical nity-gritties.

Users Exiting Coinbase

Coinbase surely was one of the biggest market movers with $20 billion exchanged and 9 million users. And while investors backed Coinbase’s decision of steering away from the hard fork some of its customers didn’t experience similar feelings.

Coinbase did not make any public announcement regarding the number of users shifting to other cryptocurrency exchanges. But as Coinbase delayed Bitcoin withdrawals upto 12 hours before weekend, people shifting their bitcoins served as an out and out proof of the mammoth exiting figure.

However some industry experts feel that this temporary phenomenon would be reversed soon as ex-users of Coinbase return back to home frontier after storing their newly acquired Bitcoin cash in secured digital wallets.

Coinbase’s Stand

Coinbase CEO Brian Armstrong feels it is more necessary to be compliant and regulated than winning the ‘first to market’ race. This technically secure trading platform founded way back in 2012 only deals with the major players – Bitcoin, Litcoin and Ethereum.

Thus it is highly unlikely that they would jump onto the Bitcoin Cash bandwagon before doing in-depth market research and performance evaluation.

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