Friday, January 19, 2018

SCCEX Will Support BCH Because It Is “Satoshi’s True Bitcoin”


Bitcoin Cash is on the minds of a lot of people these days. Whether one loves it or hates it, no one can deny BCH has made its mark on the cryptocurrency ecosystem as a whole. So much, even, that the Scandinavian Cryptocurrency Exchange (SCCEX) is looking to promote this altcoin. More specifically, it will offer fee-free Bitcoin Cash trading. Moreover, there will be a line of BCH-related banknote-style paper wallets as well.

In the history of crypto, we have never seen exchanges show such outspoken support for specific altcoins. Although most trading platforms offer support for currencies such as XRP, ETH, and LTC, they have never gone "all-in" on such currencies. However, SCCEX has announced some big plans for Bitcoin Cash, the alternative version of Bitcoin which came to market several months ago.

According to the company's recent announcement, it will not charge any trading fees for BCH trades. That is always a good way to attract more traders, even though the name Scandinavian Cryptocurrency Exchange won't ring a bell for most people. The company also offers fee-free trading for Ethereum Classic, which is another relatively new cryptocurrency which has not gained as much traction just yet. By not charging any fees, the company aims to push adoption of specific altcoins throughout Scandinavia and Europe.

The primary reason for this decision is that SCCEX views Bitcoin Cash as the Bitcoin that Satoshi Nakamoto originally intended to create. It is a statement we have heard before from other companies, even though the jury is still out on whether or not BCH can become the one and true Bitcoin over time. It is certainly true that Bitcoin Cash has a few aspects which make it far more appealing than Bitcoin itself, namely its lower fees, faster transactions, and on-chain scaling. Bitcoin itself should not be discounted just yet either, though, as things will continue to evolve moving forward.

Furthermore, SCCEX plans to introduce some new paper wallets for Bitcoin Cash enthusiasts in the form of physical cryptocurrency banknotes. The design of these notes looks rather appealing in the Medium post, but users can only obtain them by visiting the company's physical offices. It's always nice to have a Bitcoin Cash paper wallet with a far more appealing design, even though people could generate them at home as well if they wanted to do so.

As is always the case with paper wallets, these banknotes are not designed to hold massive amounts of Bitcoin Cash. A paper wallet makes for an excellent gift or collectible item, but there is no reason to deposit hundreds of BCH to the address printed on a paper wallet. It still looks rather beautiful, though, and there will most likely be at least some interest in this particular product. It will be interesting to see if any other cryptocurrency exchanges decide to take a similar "promotional" approach to Bitcoin Cash in the future.

Do keep in mind that SCCEX is not open for business as of right now. Instead, the company expects to launch in April of 2018, with fee-free ETC and BCH trading going live on day one. It is unclear if this is a temporary measure or a permanent policy, though. Assuming it is the latter, things will get very exciting for Bitcoin Cash and Ethereum Classic supporters.

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