GMO Enables Bitcoin Cash and Ether Trading With Promotional Discounts

GMO Coin, a subsidiary of the Japanese Internet services giant GMO, has enabled bitcoin cash and ether trading, alongside bitcoin. To commemorate the event, the exchange has launched a promotional campaign for each coin.

Also read: Russian Regulators Disagree on Crypto Regulation, Postpone to Next Year

BCH and ETH Trading Now Live

GMO Internet’s bitcoin exchange, GMO Coin, announced on Wednesday that it has enabled the trading of bitcoin cash (BCH) and ether (ETH), citing enough liquidity and strong customer demand. “ETH Trading” and “BCH Trading” tabs have been added to the member page of their website.

For each BCH transaction, the minimum order is 0.01 BCH and the maximum is 5 BCH, with a daily limit of 20 BCH. For each ETH transaction, the minimum is 0.01 ETH and maximum is 10 ETH, with a daily limit of 50 ETH.

To commemorate the new additions, the company has launched a cash-back campaign for bitcoin cash of up to 25,000 yen depending on the amount of BCH traded on the exchange. The campaign runs from September 27 to October 31. For ether, the company launched a 50%-off spread fees campaign during the same time period.

Following the August 1 split of the Bitcoin network, the exchange started crediting their customers with BCH on August 4 in a 1 to 1 ratio of their bitcoin holdings. BCH withdrawals followed on September 1.

GMO Coin’s parent company, GMO Internet, offers a comprehensive range of internet services worldwide. Its internet infrastructure business has 8.47 million customers and ranks number one in Japan. The Group consists of 129 entities as of the end of July this year. GMO owns the largest forex exchange broker in the world, GMO Click.

Other Services Offered

Besides bitcoin, bitcoin cash and ether, GMO Coin will add litecoin (LTC) and ethereum classic (ETC) next month. Ripple (XRP) will be added in November.

The company will also provide other services such as expanded trading tools and bitcoin payment services. The latter will compete with other bitcoin exchanges which are already offering them, including Bitflyer, Coincheck, Zaif and Bitpoint.

Furthermore, parent company GMO Internet announced early this month that it has entered into the bitcoin mining and chip manufacturing businesses. The company plans to produce and sell 7nm ASIC chips and operate a bitcoin mining farm in Scandinavia. It plans to invest 10 billion yen in the next few years on the operations as well as chip research and development.

What do you think many of GMO’s customers will be trading bitcoin cash and ether? Let us know in the comments section below.

Images courtesy of Shutterstock and GMO.

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