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CEX.IO After the Hard Fork

· August 31, 2017 · 9:24 am

As you well know, on August 1st, 2017 a hard fork occurred with Bitcoin that led to the creation of a new cryptocurrency. This cryptocurrency is being referred to as Bitcoin Cash which is represented by the BCH symbol.

This hard fork in Bitcoin means that a lot of changes have occurred in both currencies. There was an internal debate over what should be done in the future to handle the scaling issues in Bitcoin, and now it seems that a split into two different coins is the best way to proceed.

Background of the Split

The debate within the Bitcoin community was largely centered on how to handle the issue of scaling Bitcoin. There were two potential ways proposed to scale the coin: increase the block size or speed up transactions. The creation of BCH increases the block size which means more transactions can be done on one block, which is approximately 10 minutes.

BCH is referred to as Bitcoin Cash because of this feature. If you want to be able to pay for small transactions like coffee, then there needs to be a big enough block to support that. Previously, there was an issue with these small transactions because with the limits on block size, there had to be large transaction fees to discourage them. Now it is possible to use BCH to pay for many smaller transactions. This is very cash-like because there are no restrictions on the way you use cash, and in the end, Bitcoin was invented to be a money replacement in every sense of the term.

It is quite amazing that a new coin was essentially “created” on August 1st, and many will say that this signals the instability of the cryptocurrency world, but it is actually precisely the opposite. Rather than have hundreds of millions of citizens tied to one manner of managing the future of a currency, as the American dollar does, the cryptocurrency world allows for splits based on ideological belief.

This is much more democratic than any other method. Instead of having the Federal Open Market Committee, an unelected group of officials, deciding the future of the currency, you can actually choose which currency you believe in the most. In a way, this means you can “vote” for a currency by using it and eventually one currency will emerge as the most popular due to its merits.

CEX.IO Takes a Strong Stand on the Split

For any user of CEX.IO, this should all be good news. As one of the top trading platforms for cryptocurrencies, they went into the “hard fork” with a plan. It wasn’t entirely clear what would happen in the days leading up to August 1st, but the general plan was to get anyone who would want someone else to handle the split for them to deposit their coins ahead of time.

The Effects of the Hard Fork

So with the creation of a new coin, many would interpret it to mean that cryptocurrencies are unstable since there is still infighting in the community, but it is precisely the opposite. There was a disagreement on how to move forward and it was handled with finesse with little to no issues.

In the lead-up to the hard fork, there was a lot of instability in the price of Bitcoin as many perceived this to be an existential risk to the coin. Now that we are seeing this to not prove an issue, any future hard forks will be received with much less skepticism and should hopefully be seen as “business as normal”.

As the largest cryptocurrency, Bitcoin has received worldwide attention and many see it as a proving ground for the other coins. The world watched on as this hard fork occurred and the result should be increased confidence in the concept of cryptocurrency.

CEX.IO Plan of Action

CEX.IO was properly prepared for the hard fork on August 1st. Any coins that customers wanted split needed to be deposited at least 12 hours ahead of time. Likewise, any coins that weren’t meant to be split needed to be withdrawn by then.

In the wake of the creation of BCH, CEX.IO has elected to offer it as a trading option on their platform. This will be done on a trial basis in the beginning to gauge demand, and then a decision will be made in the near future. The top priority of the exchange is to ensure no one loses their BCH on the platform. Bitcoin Cash deposits and withdrawals have also been enabled on August, 16th, as the exchange made sure it’s been safe for its users.

It should be noted that some major exchanges like Coinbase have decided not to offer BCH as a trading option on their platform. This has created a good strategic opening for CEX.IO to gain some new customers and demonstrate their competitive advantage.

So depending on the future of BCH, you might well now be able to trade it on CEX.IO and pay with your coffee with it. The future of the coin is still up in the air, but things are looking bright.

[Disclaimer: This is a sponsored article]

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CEX.IO Launches Instant Withdrawals to Visa, MasterCard

Source: bitcoin

CEX

Popular bitcoin exchange CEX.IO has announced the launch of instant withdrawals to Visa and MasterCard payment cards.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services.

Withdrawal Bitcoin Profits to Visa and MasterCard With CEX.IO

This move represents the exchange “completing the circle,” as they rose to  the top of the industry by enabling users to purchase bitcoins with their credit cards.

According to the exchange, payment card “withdrawal requests are processed automatically, right after their placement, which means that a user doesn’t need to log in to third party services.” The exchange also states that in most cases, withdrawals are completed instantly, allowing customers to use their funds immediately.

CEO and Co-Founder Oleksandr Lutskevych told press:

“We are proud to tell that there are currently no other exchanges offering instant

withdrawals of fiat funds to Visa/MasterCard at low commissions, except for CEX.IO.”

Withdrawals to payment cards are beneficial due to high speed or payment processing and low commissions. Once the card is linked to CEX.IO profile, a user is able to deposit and withdraw fiat funds to this card in just a few steps. PCI DSS certificate obtained by CEX.IO ensures strong safety of provided payment card data.

The exchange plans to continue expanding payment options and among other things will introduce Bitcoin debit cards enabling loading cards with Bitcoins directly.

To learn more please go to:

Media Contact

Name: Helga Danova, Communications Officer

Email: helga.d@cex.io

City and Country Location: London, UK

About Bitcoin PR Buzz

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.


Images courtesy of CEX.IO.

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CEX.IO Launches Instant Withdrawals to Visa, MasterCard

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Bitcoin PR Buzz Accepts Ethereum for Press Release Services

Source: bitcoin

Bitcoin PR Buzz

Expert Bitcoin and blockchain PR firm Bitcoin PR Buzz has announced that they are now accepting Ethereum as payment for all services. The company will also offer a 10% discount on Ethereum-based projects, for a limited time.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services.

With over 200 clients, including industry leaders such as CEX.IO, BitCasino.io and Bitcoin.com, Bitcoin PR Buzz has served the digital currency community for over 3 years. During this time, the PR firm has helped boost exposure for Bitcoin and blockchain companies by guaranteeing press release publication on leading news sites such as Bitcoinist.net, Bitcoin Warrior, Bitcoin PR Buzz. The company’s clients enjoy exposure on 200-400 other online financial news sites, including Yahoo Finance and MarketWatch. The firm has recently began offering translation services for their clients, allowing their press releases to be published on large, non-English bitcoin news sites in Spain, Brazil, Arabia, Indonesia and Latin America.

The decision to accept Ethereum comes several weeks after the platform’s crypto-token — ether — enjoyed a massive price rally, launching its market cap to second place, right behind Bitcoin. A few of Bitcoin PR Buzz’s clients have recently integrated ether into their platforms as well, including popular exchange CEX.IO.

For a limited time, anyone paying with ETH to promote an Ethereum related project will receive a 10% discount on all services.

Learn more on their homepage at and click here to view a PDF outlining their most popular PR services

To make an inquiry, simply visit or email bitcoin(at)bitcoinprbuzz.com

About Bitcoin PR Buzz

Bitcoin PR Buzz has been proudly serving the Blockchain press release and Bitcoin marketing needs of Digital Currency tech start-ups for 3 years. The team is excited to expand their offerings to include Ethereum PR services.


Images courtesy of Bitcoin PR Buzz, Ethereum. 

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Bitcoin PR Buzz Accepts Ethereum for Press Release Services

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CEX.IO Adds USD and BTC Ethereum Trading Markets

Source: bitcoin

Bitcoinist_Ethereum

Many people know CEX.IO as a platform to buy and sell Bitcoin in exchange for various fiat currencies. But the company recently announced a new addition to this platform in the form of Ethereum trading. This modern digital currency can be traded against both Bitcoin and the US Dollar as of today.

Also read: BIT.AC Launches Innovative Multi-Currency Crypto Wallet Platform

CEX.IO Adds Ethereum Trading Markets

It is always positive to see digital currency exchange platforms expanding their offerings, and CEX.IO is doing exactly that. The addition of Ethereum to their list of tradeable currencies is quite noteworthy, as users will be able to trade ETH against both Bitcoin and the US Dollar from now on.

In doing so, CEX.IO joins a growing list of digital currency exchange platforms which have added Ethereum trading in recent times. Bitfinex, one of the world’s largest Bitcoin exchanges, gave in and added ETH trading a few weeks ago, which was followed by exchanges in Korea and Japan shortly afterwards.

The CEX.IO exchange is keeping tabs on the current trends and demands by digital currency traders, and the addition of two ETH trading markets seems to be a smart decision. Bearing in mind how platform users can use their plastic cards to buy digital currency, this news opens up exciting opportunities for the Ethereum community.

Keeping in mind how the Ethereum price is currently in a slump, it will be intriguing to see how this decision by CEX.IO will play out in the long run. Digital currency traders have been selling their Ethereum across all exchanges for the past few days, which has lead to a decrease in overall market capitalization. However, Ethereum remains the second largest digital currency in the world, according to its market cap.

The biggest interest in the Ethereum ecosystem comes from developers who are exploring blockchain technology and smart contracts. The Ethereum ecosystem seems to lend itself towards the developer crowd, and CEX.IO decided it would be a good idea to add ETH trading and give everybody a chance to buy some Ether through convenient payment methods.

Based on the information we have received, CEX.IO servers over half a million users to this very date. Although the company has pivoted from their initial cloud mining business model, the exchange side of things appears to be a lot more lucrative for the UK-based company. Moreover, the platform is available in over 95% of the countries around the world, although availability in the US is limited due to FinCEN regulatory requirements.

What are your thoughts on CEX.IO adding Ethereum to their trading markets? Let us know in the comments below!

Source: Press Release Via Email

Images courtesy of Forex Bitcoin News, CEX.IO

The post CEX.IO Adds USD and BTC Ethereum Trading Markets appeared first on Bitcoinist.net.

CEX.IO Adds USD and BTC Ethereum Trading Markets

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