Bitcoin Cash (BCH) has seen some drastic improvements from all corners during the current year. This week is proving to be more of the same as the cryptocurrency that broke away from Bitcoin currently commands the fifth-largest market cap in the cryptocurrency ecosystem. Each BCH coin hangs around the $425 mark now as the cryptocurrency went up by 4.03% in the last 24 hours.
There are more and more companies entering the BCH environment than ever before, and they are launching products, developing systems and applications for a cryptocurrency that looks better and better with every month that passes. BCH is the sixth most traded cryptocurrency with an average daily traded value of around $1.4 billion.
First BCH ETF product launched, brewery deal finalized
In a piece of news that is likely to bring a lot of joy to traders of BCH around the world, fintech firm Amun AG has listed its ETF that tracks the price of Bitcoin Cash. This was listed on Swiss stock exchange Six. The information in the announcement of the product said that the company has fully collateralized the ETF, and will denominate it in US Dollars. The ticker for the product on the exchange will be ABCH, and there is palpable excitement in the community over the first ETF launch happening.
Many in the community see it as a “huge” deal, as evidenced by Reddit and Twitter proponents of Bitcoin Cash. However, there is more to come with regards to BCH than only another trading option. While extra trading options are always suitable for everyone involved, it is the real-world consequences of a cryptocurrency that really catch the eye. This is where the Scottish craft beer company Brewdog comes in.
The company announced on Thursday that it would be opening investment opportunities in the company in the form of various cryptocurrencies. Their crowdfunding project called “Equity for Punks” now accepts a variety of cryptocurrencies among which Bitcoin Cash is also included. There are the usual coins such as Bitcoin, Litecoin and Ether as well as some more obscure ones.
Essentially, this allows anyone to buy a share in the company using the Equity for Punks scheme and pay for it in cryptocurrency. Effectively this gives crypto users an extra asset which they can hold after buying with their cryptocurrency.
Handlekrypto gets in on the action
Swedish company Handlekrypto now allows the general public to buy Bitcoin Cash with a bank card or with Swish (a mobile payment option in Sweden). There is no complicated AML process to follow as it is all done by using one’s Bank ID, which everyone in Sweden must have to be able to use any banking services. This opens up the cryptocurrency market to a more general audience, and Bitcoin Cash is one of three options that they are offering alongside Ether and Bitcoin Core.
This is just the tip of the iceberg with regards to Bitcoin Cash, and it will soon be taking even bolder steps to become a principal cryptocurrency in its own right. As things stand, the future looks very bright for anyone holding Bitcoin Cash.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.