Zebpay is India’s largest Exchange for Cryptocurrencies. But they’ve been selling only Bitcoins; Until now. Zebpay announced plans for adding other Cryptocurrencies way back in December, and they’ve started that with support for Bitcoin Cash. This has been the biggest change for the Indian Exchange after its launch.
Yesterday evening, Zebpay announced the inclusion of Bitcoin Cash with a tweet and updated apps for both iOS and Android. Once you’re in the app, you’ll be able to toggle between Bitcoin and Bitcoin cash on the top-right section of the app. Once inside Bitcoin Cash, you’d be able to buy it normally, with your available funds.
Bitcoin cash is a forked currency from Bitcoin which increases the block size from 1MB to 8MB. Recently, the Bitcoin network has not been able to keep up with the demand, and the transaction cost has increased to a whopping $50 per transaction. Bitcoin cash, with it’s larger block size can be used to transfer with fee as low as $2.
Bitcoin cash has seen massive swings in the market. It started out at just $400 when it forked out, but is currently trading at $1,850. On Zebpay at the time of writing this article, Bitcoin Cash is priced at Rs. 1.34 Lakhs. Bitcoin cash had a massive pump to $4,000 a few weeks back when the world’s largest exchange CoinBase included it.
Zebpay is India’s largest exchange with more than 2 Million users. Back in December, they announced that they were adding more than 2 Lakh users a month!
If you want to start trading with Bitcoin Cash, trade it with caution. Bitcoin cash does not have the volume of Bitcoin and is extremely volatile. Since Zebpay does not support stop-loss, our recommendation for trading Bitcoin Cash is to buy it on Zebpay and move it to a different exchange like Bittrex or Binance. Once there, set tight stop-losses against USDT.