Bitcoin Cash was added to Bitstamp’s list for the first time this week. The currency will start to be traded in the company by the end of November or early December. Anybody that knows both these names understands how huge this decision was to the cryptocurrency market and to Bitcoin Cash’s future.
There’s also a good chance that you know what Bitcoin Cash is if you follow the news. This new cryptocurrency was created after the recent hardfork that Bitcoin suffered on August 1 this year. It’s value is lower than Bitcoin, but it is still considerably big.
Bitstamp’s CEO Explains His Decision
Bitstamp’s co-founder and CEO, Nejc Kodrič, stated that this decision was taken because there’s a high customer demand for exchanging Bitcoin Cash. This new trade will be implemented in three ways: BCH/BTC, BCH/USD, BTC/EUR.
Kodrič states that this decision is part of a larger move to insert more currencies in their system and that Bitcoin Cash is in high demand, so they have to follow their customer’s demand. BCH reached the value of $2,400 recently, but have dropped to $1,200. Even with less value, Bitcoin Cash is still one of the most valuable cryptocurrencies in the market.
In the year of 2017 Bitstamp has added more cryptocurrencies to its list than ever before. Some important examples are Ethereum, which is probably one of the most popular coins of the moment, Ripple and Litecoin.
Kodrič explains that the decision to add a high number of new cryptocurrencies this year is linked to the company’s desire to expand. The CEO believes that the company has already proved itself as trustworthy and has gained its place in the market, so now is the time to expand their operations.
The Future of Bitstamp
Will more cryptocurrencies be added in Bitstamp in the future? Kodrič seems to think so. He states that, when the demand appears, any cryptocurrency that meets their standards will be traded.
The CEO makes it clear that they still have a rigorous process before choosing new cryptocurrencies to be exchanged in the company. They have to be secure, have liquidity, a high demand, a good technology behind them and be consistent with the long-term vision of the group.