On December 7th, the Gemini crypto exchange announced they are adding support for Bitcoin Cash (BCH). Gemini will however, only support the fork, which is based on the Bitcoin ABC roadmap. There is absolutely no support or use for Satoshi’s Vision (SV) on Gemini yet.
After last month’s hard fork, tensions were high. The rapidly-declining market didn’t make things easier for anyone. Now after the hard fork, the network is split into two different blockchains, both of which are competing against one another with their own tokens. Gemini announced they are adding replay protection in order to ensure transactions are online valid on the network they support.
VP Eric Winer said:
“We will continue to evaluate Bitcoin SV in the near future. It’s entirely our decision whether we chose to support Bitcoin SV in the future. At the present time, any cryptocurrency sent to our exchange over Bitcoin SV will be deemed invalid and will be irrecoverable.”
The Friday announcement stated that the New York State Department of Financial Services (NYDFS) has already given its approval on the bitcoin cash listing. NYDFS have already allowed Gemini to offer both trading and custody services to its customers within state.
Starting early next week, Gemini’s customers will be able to deposit bitcoin cash into their accounts. Trading support will be available today at 18:00 UTC. The initial launch will offer BCH trading pairs with USD, BTC, ETH, LTC and ZEC.
Gemini is fully aware of Bitcoin SV
This is by no means a controversial decision by Gemini since Bitcoin Cash ABC is listed as bitcoin cash by several other exchanges. Kraken and Coinbase have also listed ABC as the only Bitcoin Cash. Poloniex is currently still listing both ABC and SV as different separate coins.
Gemini shared their interest about Bitcoin Cash back in the beginning of the year before the hard fork was announced. The Winklevoss twins were also taking litecoin as a potential addition at the time. Litecoin was officially listed by the exchange in October.
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Categories:Bitcoin Cash Bitcoin News Crypto exchange