coinpass Now Supports Ethereum & Bitcoin Cash

coinpass now supports GBP/ETH and GBP/BCH for the cheapest fees in the UK.

What is Ethereum?

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality.[3] It supports a modified version of Nakamoto consensus via transaction-based state transitions.

Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed.[4] Ethereum provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network

What is Bitcoin Cash?

Image result for bitcoin cash

Bitcoin Cash is a cryptocurrency. In mid-2017, a group of developers wanting to increase bitcoin’s block size limit prepared a code change. The change, called a hard fork, took effect on 1 August 2017. As a result, the bitcoin ledger called the blockchain and the cryptocurrency split in two. At the time of the fork anyone owning bitcoin was also in possession of the same number of Bitcoin Cash units.

Why are both of these tokens a big deal??
Apart from expanding coinpass’s offering to support the UK GBP Crypto market with as many pairs as possible, we’re adding additional ways for our clients to transact with their chosen digital asset as possible.

Bitcoin is the grandfather of the Blockchain space and all Cryptocurrencies. Bitcoin is the brainchild of Satoshi Nakamoto who invented the idea of a trusted global digital currency not controlled by a central bank or government, but by everyone who wishes to participate in evolution of money and store of wealth.
This worked initially and there has been a massive transfer of wealth in recent history, but not without its own set of flaws.

  • Bitcoin is slow.
  • Bitcoin hasn’t been innovated in some time
  • Bitcoin is now semi-centralised from a mining perspective in China
  • Bitcoin is easily manipulated due to large stores of Bitcoin wealth controlled by a small number of “whales”.

There are other cryptocurrencies out there.

Bitcoin Cash has it’s own sets of benefits as well as flaws, as does Ethereum, but they allow choice in a growing market.
The choice to choose how we choose to transact an invest is one of the core features of any Cryptocurrency technology and coinpass is at the core of this revolution.

We’ll continue to add additional currency pairs to our platform to allow our clients the choice of token this wish to purchase, trade and transact with now and in the future.

Happy Investing

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