New York registered bitcoin exchange Gemini today confirmed that support for Bitcoin Cash trading and custody will begin on Saturday, December 8th at 9:30 am ET. At that designated time, users will be able to deposit Bitcoin Cash, and trading will begin on Monday, December 10th at 1 pm ET.
Bitcoin Cash (BCH) is the fifth digital asset available on the Gemini platform, joining Bitcoin, Ether, Litecoin, and Zcash. Users will be able to trade Bitcoin Cash against all other currencies available on the Gemini platform and will also be able to participate in daily auctions for BCH/USD.
Bitcoin Cash, a fork of the Bitcoin network, was recently forked into two distinct networks and blockchains: Bitcoin ABC and Bitcoin SV. At this time, Gemini stated it will only be providing support for the Bitcoin ABC network and will be referring to it as Bitcoin Cash with ticker: BCH. The company also confirmed it has added replay protection to all BCH withdrawals from the Gemini platform to ensure transactions are only valid on the Bitcoin ABC blockchain. Any cryptocurrency sent to Gemini over a blockchain that is not supported, such as Bitcoin SV (BSV), will be invalid and irrecoverable.
Gemini’s statement said, “We are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future. We have worked closely with the New York State Department of Financial Services (NYSDFS) to obtain approval to offer Bitcoin Cash trading and custody services for our customers, and we are excited to add this cryptocurrency to the Gemini platform.”
