Home / Crypto Currency / Abra Adds Native Bitcoin Cash Support, Wins Roger Ver’s Praise

Abra Adds Native Bitcoin Cash Support, Wins Roger Ver’s Praise


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Abra, a mobile cryptocurrency investing app, has added native bitcoin cash (BCH) support, allowing users to deposit and withdraw BCH directly, Abra announced on its website. Anyone who held BCH in Abra previously can now withdraw it to a hardware wallet or use it to make a payment on a merchant site. The app also makes it easier to use BCH to invest in the growing selection of cryptocurrencies in the Abra app.

In making the announcement, Abra, which in March announced support for 70 cryptocurrencies as a real-time exchange service for all currency pairs, presented a YouTube interview with BCH proponent Roger Ver, who owns Bitcoin.com.

Roger Ver Commends Abra

Ver thanked Abra for supporting BCH and noted that one use for BCH is Purse.io, an online marketplace that encourages bitcoin use and innovation, which entitles people up to a 30% discount from Amazon. “Everyone should use it for every single Amazon purchase,” Ver said.

More importantly, Ver said, BCH transactions are “super fast, super cheap, and super reliable.”

“Cryptocurrency should be usable as a currency,” said Ver, who noted that BCH can now be accepted at every merchant that uses the BitPay and Coinbase wallets. He said more people are using BCH percentage-wise as a store of value than using bitcoin. He said he would prefer BCH as a store of value since he wants to be able to spend it “everywhere” later.

“We think competition is fantastic,” said Bill Barhydt, Abra founder and CEO.

Also read: BitPay enables merchants to receive bitcoin Cash (BCH) settlements

Ver: BCH Follows Original BTC Path

BCH’s path is following that of bitcoin from 2009 to 2016 the path for bitcoin, Ver claimed. He said bitcoin’s “first user” advantage has been destroyed as transaction fees got as high as $50, though they are now far less than this. He further noted that more than 200 tokens have launched on bitcoin cash.

Bitcoin cash forked from bitcoin in Aug. 2017 to increase the number of bitcoin transactions on the Bitcoin network by increasing the block size from 1 megabyte to 8 megabytes.

Proponents of smaller blocks claim keeping the block size small makes the network accessible to a larger number of people since increasing the block size requires more computation and more specialized machinery. Big block opponents argue that the increase in computation could lead to centralization.

Bitcoin cash was created to act like a better version of peer-to-peer digital cash because bitcoin transactions had become slow and costly. However, to date, it has not surpassed BTC’s usage in commercial transactions.

Featured Image from YouTube

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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