Bitcoin Cash – Euro Trading Pair to Be Re-Enabled on GDAX
Bitcoin Cash paired with Euro to be reopened by the GDAX exchange in less than a week, enabling another highway to invest with your regional fiat on BCH.
The platform [being a subsidiary of Coinbase] has declared that the pair BCH/EUR, especially for European investors obviously, will be available in a couple of days – from January 25 Wed at 02:00 AM PST. It is of great interest as the users will not have anymore to go through process of exchanging the euro to BTC firstly and then to BCH which added a second commission.
December 2017 Coinbase was forced to stop the BCH pairings on both platforms soon after it started, botching the launch. Besides operational problems like an inability to handle all the traffic to specific BCH liquidity issues, the company was also accused by many clients of enabling insider trading. Trading opportunity with BTC was only made possible after Jan 17 – just 7 days before the EUR pair.
The GDAX Market Operation team decided to take the process of launching from one mode to another so everything goes more smoothly this time while taking under consideration factors like price volatility and order book liquidity. First – ‘post only’ mode for a min of 10 minutes, second – ‘limit only’ mode that will be replaced by ‘full trading’.
Taking the launch that happened three-four days ago as a comparing example [BCH/BTC], the first mode took almost 40 minutes to transit to the second while climbing to the final level took an hour and almost 50 minutes.