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GDAX Pledges to Enable Bitcoin Cash Withdrawals By 2018
GDAX has announced that it will launch support for the breakaway cryptocurrency Bitcoin Cash sometime later this year.
By Stan Higgins
Updated Sep 13, 2021, 6:47 a.m. Published Aug 3, 2017, 10:35 p.m.
GDAX, the cryptocurrency exchange operated by Coinbase, has announced that it will launch support for Bitcoin Cash (BCC or BCH) sometime later this year.
In a new blog post, GDAX general manager Adam White said that, after initially opting to not support the digital asset that powers the controversial fork of the bitcoin blockchain, the exchange has "examined all of the relevant issues" and decided to add support.
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this week when a group of miners broke away rom the main bitcoin blockchain, proponents of Bitcoin Cash switched to a new, incompatible software that changed the network's rules, creating two distinct transaction chains.
Though no clear target date was disclosed, White said that GDAX would integrate Bitcoin Cash by January 1, 2018 – though he cautioned that this would only take place "assuming no additional risks emerge during that time."
He went on to write:
"Once supported, customers will be able to withdraw bitcoin cash from GDAX. We'll make a determination at a later date whether or not we will also support trading of bitcoin cash. In the meantime, all customer's bitcoin cash will remain safely stored on GDAX."
The statement comes as some customers have directed their ire toward Coinbase in the wake of the Bitcoin Cash split, though several legal threats have yet to lead to actual court action.
The statement notably only accounts for GDAX, and makes no mention of Coinbase's plans for its wallet service. Coinbase has previously said that it "will not support the BCC blockchain or digital currency."
More clarity could be coming, however. A representative for Coinbase told CoinDesk earlier today that it expects to publish additional details sometime next week.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
Markets image via Shutterstock
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