Back nearing the end of April, it was revealed that the Securities Commission (SC) had already given provisional approval for the cryptocurrency, Bitcoin Cash, as a new alternative for cryptotraders. In light of this news, Luno, one of the few cryptoexchange that are authorised in Malaysia, recently released a teaser about the new coin.
The video clip teaser was posted on Luno’s official Facebook page but, as you can see, lacks detail. Chief among such detail being an actual date as to when the new cryptocurrency will be added to the exchange’s portfolio. To date, Luno is currently authorised to trade four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC).
For the uninitiated, Bitcoin Cash emerged as an off-shoot of the wildly popular and now highly valuable Bitcoin – the coin is currently sitting on an average value of RM230000 – back in 2017. The coin was created and introduced into the pool, as a means to combating high transaction fees with cryptoexchanges and also to manage the already encroaching Bitcoin limit.
At the time of writing, Bitcoin Cash has an average value of RM4180, up from RM3132 since mid-April.
Update 5 May (12:56AM): Hours after the article went live, Bitcoin Cash is already being listed on the official Luno app and can already be traded.
(Source: Luno via Facebook)