BITCOIN BOOST: Cryptocurrency now up 17% against dollar
This jump follows Bitcoin Cash’s integration with digital wallet Bitwala and the exchange Bitstamp. Bitwala is a blockchain-based payment service, which bridges the use of bitcoin and other cryptocurrencies to everyday use. Bitstamp is a bitcoin exchange which allows trading between the dollar and bitcoin. BITCOIN BOOST: Cryptocurrency now up 17% against dollar.
Bitcoin Cash was created from a split off from bitcoin on August 1 this year. It is currently at $1,518.10 against the dollar. The latest rise follows Bitwala announcing on Wednesday it was allowing customers to hold Bitcoin Cash.
Bitstamp, the twelfth largest cryptocurrency exchange in the world also made a statement saying it would be integrating Bitcoin Cash to its platform from December. Bitcoin Cash now has over 35 exchanges using the split off from cryptocurrency such as Kraken, Bittrex, Poloniex, Huobi, Shapeshift, Bitcoin.de, Surbtc, Bitflyer.
Bitcoin, the currency, itself is down 0.5 per cent against the dollar and ethereal (a rival cryptocurrency) is down 0.02 per cent against the dollar. This positive news comes at the same time when Hiromi Yamaoka head of the Japanese central bank has made it clear that he does not believe cryptocurrencies like bitcoin will replace physical cash anytime in the near future.
Mr Yamaoka said: “It’s too far off…It would change the banking system too drastically.” He made very similar comments last year stating countries with “established financial infrastructure” like Japan would not agree to such a measure.
In March, Mr Yamaoka confirmed that its central bank would “seriously consider” releasing its own cryptocurrency, an idea several other countries are attempting to do such as China, Singapore, Canada and Russia.
BITCOIN Cash – a spin off from the bitcoin cryptocurrency – is up by 17 per cent against the dollar.