Screen Shot 6App Store chart topper Coinbase introduced support for Bitcoin Cash on Wednesday, allowing users of the cryptocurrency exchange app to trade in the alternative "forked" digital asset.

Bitcoin Cash appeared in early August when a group of developers created a separate version of the Bitcoin blockchain, so that more transactions could be processed at a faster rate, with lower associated fees involved.

When news of a potential split or "fork" in the blockchain first appeared, Coinbase said it would not support trading in the new currency that would be created as a result, but in August it reversed its decision and said customers would be able to withdraw Bitcoin Cash from the first day of 2018.

Following today's app update, all users will be credited an amount of Bitcoin Cash that is equal to their Bitcoin balance when the fork occurred on August 1. Bitcoin Cash trading will also be available on GDAX, which is Coinbase's institutional-based exchange.

The Coinbase app surged to the top of Apple's free apps chart in the App Store last week, amid a speculative frenzy surrounding the blockchain cryptocurrency. Today's announcement that it would support Bitcoin Cash caused BTC to drop sharply in the early hours as users switched currencies, but the value appears to have stabilized since, at around $17,599 as of writing.

Also this week, a new version of the CoinHub app was released. Version 1.5 of the cryptocurrency quote platform brings a new secure portfolio, Reddit and news separation, fresh UI styling, and a FOREX engine that lets users purchase any currency pair and automatically see the value in their local fiat currency.

Top Rated Comments

huffhuff Avatar
75 months ago
Just need them to add XRP and i'll be millionaire, a millionaire I tell you (ish - not at all - but I would be VEEERY happy)
Score: 5 Votes (Like | Disagree)
blackcrayon Avatar
75 months ago
I’m skeptical of the whole crypto-currency trading thing... kind of seems like a get rich quick scheme. There’s some definite risk involved that many people aren’t aware of. How is it anything other than a *legal* Ponzi scheme?
What's your definition of a Ponzi scheme? Is AAPL a Ponzi scheme?

Early holders of the stock are going to be rich compared to someone who bought a year ago...
There's a lot of speculation going on and there's a good chance of large price drops across the crypto space (as well as chance of even larger price gains). But the underlying technology is real and will change the financial world.
Score: 3 Votes (Like | Disagree)
Return Zero Avatar
75 months ago
Just need them to add XRP and i'll be millionaire, a millionaire I tell you (ish - not at all - but I would be VEEERY happy)
I went in on IOTA after the data marketplace news... It's the first coin, in my opinion, to possibly solve the scalability/mining problem. I wouldn't mind if it hit coinbase as well, but either way it's a long term play!
Score: 3 Votes (Like | Disagree)
Jmausmuc Avatar
75 months ago
I went in on IOTA after the data marketplace news... It's the first coin, in my opinion, to possibly solve the scalability/mining problem. I wouldn't mind if it hit coinbase as well, but either way it's a long term play!
I also believe in IOTA
Score: 2 Votes (Like | Disagree)
monaarts Avatar
75 months ago
Seems like an odd post for MacRumos. I’m guessing the editor has Bitcoin Cash they’re looking into growing.
Score: 2 Votes (Like | Disagree)
Return Zero Avatar
75 months ago
I’m skeptical of the whole crypto-currency trading thing... kind of seems like a get rich quick scheme. There’s some definite risk involved that many people aren’t aware of. How is it anything other than a *legal* Ponzi scheme?
The total crypto market cap is around $700 billion (i.e. almost as big as Apple) and it is rising quickly, but also now more steadily than ever. Sure, there are pump-and-dump schemes all over the place, but at least two projects (bitcoin and ethereum) have established themselves as long-term assets, almost like the digital versions of gold and silver. There's always going to be risk, and yes many people aren't aware of what they are getting into. There is a real product behind it all though, and we're really only scratching the surface with blockchain-related tech applications, so I certainly wouldn't call it a ponzi scheme.
Score: 1 Votes (Like | Disagree)

Popular Stories

iphone se 4 modified flag edges

iPhone SE 4 Details: Action Button, USB-C Port, Face ID, and More

Wednesday September 27, 2023 1:34 pm PDT by
Significant changes are expected to arrive with Apple's fourth-generation iPhone SE, in terms of both design and hardware, MacRumors has learned. The iPhone SE 4, known internally under the codename Ghost, is expected to receive a new design derived almost entirely from the base model iPhone 14. According to our sources, the iPhone SE 4 will use a modified version of the iPhone 14 chassis...
iOS 17

Apple Releases iOS 17.0.2 and iPadOS 17.0.2 for All iPhones and iPads

Tuesday September 26, 2023 12:47 pm PDT by
Apple today released iOS 17.0.2 and iPadOS 17.0.2 updates, with the software coming five days after the releases of iOS 17.0.1 and iPadOS 17.0.1. Today's iOS 17.0.2 and iPadOS 17.0.2 updates arrive as build 21A351 and can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. Note that iOS 17.0.2 was previously made available for iPhone...
iPhone 15 Pro Lineup Feature

Kuo: iPhone 15 Pro Overheating Issues Likely Due to Thermal Compromises, Not 3nm Node

Tuesday September 26, 2023 9:12 am PDT by
Complaints about heat issues with the iPhone 15 Pro models are not related to TSMC's 3-nanometer node that was used for the A17 Pro chip, according to well-respected Apple analyst Ming-Chi Kuo. Kuo says that overheating could be caused by "compromises made in the thermal system design" that allowed Apple to cut down on the weight of the iPhone 15 Pro models. Kuo says that the reduced heat...
iOS 17

Everything New in iOS 17.1 Beta 1

Wednesday September 27, 2023 1:57 pm PDT by
Just a week after releasing iOS 17, Apple has seeded the first beta of iOS 17.1 to developers. iOS 17.1 adds some features that Apple promised were coming to iOS 17 in the future, plus it refines and improves some existing features. This guide covers everything new in the first iOS 17.1 beta. Apple Music Favorites You can favorite songs, albums, playlists, and artists in the iOS 17.1...
macos sonoma 4

Apple Releases macOS Sonoma With New Widget Features, Safari Updates, Screen Sharing Improvements and More

Tuesday September 26, 2023 10:01 am PDT by
Apple today released macOS 14 Sonoma, the newest version of the operating system that runs on the Mac. macOS Sonoma has been in beta testing for several months, and it is compatible with the 2019 and later iMac, the iMac Pro, the 2018 and later Mac mini, the 2018 and later MacBook Pro, the 2019 and later Mac Pro, and the Mac Studio. The ‌macOS Sonoma update can be downloaded for free on...