Bitcoin cash which is constantly under attack by bitcoin cash rivals for several reasons is now in the news again, however, for a good reason this time.
London Block Exchange has added Bitcoin cash (BCH) and Ethereum Classic. Both trading markets have been added to the platform, and both currencies can be traded against the Pound Sterling.
The company said in a post,
“We are excited to announce that we have an addition to our blossoming selection of cryptocurrencies. Our customers will now be able to buy, sell, send, and receive Ethereum Classic (ETC) and Bitcoin Cash (BCH),”
With this news, BCH reached above $1,500, adding another 11% overnight. Trading volumes have expanded to $1.3 billion. While it is possible to get BCH directly for cash, most of its pricing is formed on the Asian markets, and on leading Korean exchanges.
The London Block Exchange offers OTC functionalities on its app, thus creating an easier approach to moving between fiat and crypto coins. OTC trading has been seen as alternative to centralized exchanges and order books, but remains riskier. Until now, British Pound holders had few opportunities to pay directly for crypto.
Benjamin Dives, CEO of the exchange, said,
“As we open our doors to UK crypto enthusiasts, we’re listening and acting on what the community wants – and that’s an array of good quality coin options to trade; all backed by a reliable, comprehensive and user-friendly service that they can trust,”
In the past weeks, BCH suffered bad publicity after Roger Ver switched around the naming of the digital assets, to what some believed was highly misleading. Since then, the old naming was recovered.
Read more: Lawsuit Filed Against Roger Ver For Misleading Users Into Buying Bitcoin Cash Instead of Bitcoin
There is an upcoming “hard-fork” planned for bitcoin cash on May 15. The software upgrade will result in bitcoin ABC, an acronym for Adjustable Blocksize Cap, and will increase the size of one block on bitcoin cash’s blockchain to 32MB, a fourfold increase from the original 8MB and well above bitcoin’s 1MB block size. It’s set to roll out on May 15, the developers have said.
LBX is based in London’s Canary Wharf commercial district. The multi-cryptocurrency platform provides crypto-exchange services to both consumers and institutional investors via its online platform and through a mobile app. It follows strict know-your-customer and anti-money-laundering procedures.
London Block Exchange is also an e-wallet services provider registered with the UK’s Financial Conduct Authority. In March, it announced it will offer its members access to the Faster Payments system. The platform also introduced on-shore accounts for its clients.
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