Blockchain

Coinbase Discontinued Bitcoin Cash Trading After Exchange Launch

Coinbase halts support to trade in bitcoin

 trade in bitcoin

Just after announcing the support to turn Bitcoin into cash, the US exchange startup Coinbase has abruptly taken off the support from trading in its newest asset. Prior to this, the US startup allowed buying, selling and dealing in the bitcoin owing to the increasing craze of the new cryptocurrency.

Cryptocurrency is the third-largest digital-asset by market capitalization and the recent support announcement from Coinbase seemed to add more to convert bitcoin into cash trending. However, the bitcoin to cash trading has now been abrupted owing to higher volumes of the exchange trading.

The halt was imposed owing to some unique complications in bitcoin to cash exchange. Additionally, the project called hard fork created unique complications for the exchanges. The complications came as an effect of copying bitcoin’s ledger at the time of the split. As an effect of the same, a group of users with smart capitals seemed to put a strain on the exchange.

Presently the buying and the selling of Bitcoin has been disabled from the platform with the last quoted price nearly $9,000, which is more than $6,000 above the market price of $2,000 as per the data provided by CoinMaketCap.

"All BCH books will enter cancel-only mode, and all existing orders will be cleared. While in cancel-only mode, no new orders will be accepted. We will post an update shortly," the exchange wrote at 18:30 PST, and later tweeted.

The official blog from the exchange stated that the trading was disabled just after a few minutes it was started. Trading went live at 17:20 PST and was ceased to post-only mode at 17:24, as per the records.

From the past few weeks, Coinbase has been topping the charts as the top bitcoin trading app. The US startup has already made headlines to help users turn bitcoin into cash.

Vikram <span>Content Manager</span>
Written By
Vikram Content Manager

Vikram is an experienced wunderkind, who embraced technology at a very early age, and today he is at the helm of it. Mobile apps are something that excites him the most, and now he is up to give this vertical the best shot. He routinely catches up with the new apps and comes up with the top apps that can excite you to the core.

Blockchain

Robinhood Already Gets 1 Million Early Access Sign-Up's After Free-Crypto Trading Announcement

4 min read  

Robinhood, the cryptocurrency trading platform is coming up with a new strategy to lead the crypto-world. The company has announced that it will be starting zero-fee cryptocurrency trading service from February. On Thursday, the company has noted in a blog post that, from the next month it will char

Blockchain

Can Cryptocurrency Decode The Financial Crisis Of Africa?

4 min read  

Africa remains one of the regions where the significant chunk of the population doesn’t own bank accounts. Banking system stays to be in deplorable condition. People in Africa believes more in cash or barter system for the local payments, which can drastically pull-down any economy. So, some m

Blockchain

Google and YouTube Get Conned by Cryptohackers

4 min read  

Google is in bad blood with Youtube for turning passive viewers into cryptocurrency miners. Youtube ads are being used by anonymous hackers to covertly leach off visitors' CPUs and electricity to generate digital currencies like Bitcoin. In case you’re still clueless about cryptocurrencies

Blockchain

Facebook’s Cryptocurrency Libra: What Is It and How Does It Work?

4 min read  

This Tuesday, June 18, 2019, Facebook co-founder and CEO, Mark Zuckerberg, officially announced its plans to release a new digital cryptocurrency of its own, called Libra, in 2020. Facebook had been stealthily working on building its worst-kept secret, Libra, for over a year and it indeed did big, t