Recently, Coinbase announced that they will accept Bitcoin Cash on January 1, 2018
The specific content of the broadcast message is as follows:
“Dear Coinbase Customers,
We wanted to give our customers an update on the recent Bitcoin Hard Fork event. You can read more about what a digital currency fork is here:
https://blog.coinbase.com/what-is-a-bitcoin-fork-cba07fe73ef1
Forks enable innovation and improvement to digital currencies and we believe we will see an increasing number of forks in the future. We hope this is an active and creative community.
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When a digital currency is forked, it creates a new digital asset. Adding new digital assets to Coinbase must be approached with caution. Not that it can be added to Coinbase immediately, but must wait for scrutiny, need for technical stability, security or compliance.
Our top priority is the safety of our clients’ funds, and we spend a lot of time designing, building, testing and testing our systems to ensure that the digital assets We support stay safe. We’re not always the first, but if we are, you can be sure we’ve invested considerable time and care in safely supporting it. We believe this is the best method to maintain the trust of our customers.
In the case of bitcoin cash, we made it clear to our customers that we didn’t feel we could safely support it on the day it was launched. For customers who want instant access to bitcoin cash, we recommend they withdraw bitcoin from the Coinbase platform. However, there are a few points we would like to make clear to our clients:
Both Bitcoin and Bitcoin Cash cash are still safely stored on Coinbase.
Customers with a balance of bitcoin at the time of the fork now have an equal amount of bitcoin cash stored by Coinbase.
We operate on the general principle that our clients should benefit to the greatest extent possible from hard forks or other unexpected events.
Over the past few days, we have examined all relevant issues and have decided to work on adding Bitcoin Cash support to Coinbase customers. We make this decision based on factors such as network security, customer needs, trading volume, and regulatory considerations.
We are planning to support Bitcoin Cash on January 1, 2018, assuming no additional risks emerge during that time.
Once supported, customers will be able to withdraw Bitcoin Cash. We will make a decision the next day on adding commercial support. In the meantime, bitcoin customer funds will remain securely stored on Coinbase.
Thank you,
Coinbase Team”