Robinhood Enables BCH Trading, Distributes ‘New Asset’

Robinhood Enables BCH Trading, Distributes 'New Asset'

Loss leader smartphone trading application, Robinhood, announced today it was starting up Bitcoin Cash (BCH) trading once again. The dust has since settled from two weeks ago, when the chain battled through a contentious hard fork and eventually split. The company also revealed it would honor what it calls the “new asset.” 

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Robinhood Brings Back BCH Trading

“Bitcoin Cash is now tradable again,” the popular smartphone trading app posted on Twitter. “We’ve removed the halt following the hard fork.” This was par for the course, as most platforms and exchanges took a wait-and-see approach leading up to the 15 November 2018 scheduled upgrade.

Robinhood Enables BCH Trading, Distributes 'New Asset'

It quickly turned into a contentious hard fork, and sides engaged in what a partisan termed Hash War. Two implementations disagreed on the way forward with regard to protocol, and so the chain split, with the new chain adopting the name Bitcoin SV (BSV).

New Asset

“The fork produced a new asset, Bitcoin SV,” Robinhood continued. “BSV will be automatically distributed to BCH holders, who are entitled to one BSV per unit of BCH owned on the day of the fork (11/15).”

Robinhood Enables BCH Trading, Distributes 'New Asset'

This also appears to be the tactic for most exchanges reporting their future procedures once they bring BCH back online. However, the company went a step further, announcing as well they’ve “added Bitcoin SV to our current available crypto options. This means you can trade BSV just like any other asset you hold in your Robinhood account.”

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