After Bitcoin, Ethereum, Litecoin and Ripple XRP, looks like Bitcoin Cash (BCH) is coming to Malaysian exchanges (Luno, Synergy and Tokenized). Securities commission Malaysia seem to have granted provisional approval for BCH.
Bitcoin cash is a branch out of the main bitcoin blockchain and this digital asset attempts to fix some inefficiencies in the original bitcoin blockchain namely the slow transaction speed, high transaction fees and a few others.
At the moment 1 BCH equals around RM4,000. BCH price seems to be rising recently in tandem with the current digital asset pumping craze around the world.
I personally feel BCH's usage is not big. It's still better to stick to the original bitcoin. The price of BCH is cheaper than BTC (Bitcoin), however price is a relative measurement. It's like buying a stock at RM10 and then it does a share split into RM5, people think it is still cheaper now in value but in actual fact the value didn't change at all.
In addition, the long term value of digital assets has to driven by usage and the network effect, the more people use it the more valuable it becomes. At the moment, all digital assets are being pumped and dumped, which is more speculative in nature. The use case for BCH in Malaysia is quite limited also at the moment.
I believe in the long term, the Malaysian government is looking to collect tax on the profits for digital assets. If the people use illegal exchanges (in Malaysia) then it will translate into lost of income tax for Malaysian government. As such, it's better to allow BCH to be traded via authorized exchanges (Luno, Synergy and Tokenized).
Updates 20210504
BCH is now on Luno digital asset exchange. The other exchanges (Tokenize, Synergy) should be also following suit soon to offer Bitcoin Cash BCH on their platforms.
📍Link
👉My Luno Referral Code
Luno's is one of 3 digital asset exchange in Malaysia that has license to operate. At the moment you can only buy Bitcoin, Ethereum, Litecoin and Ripple XRP digital assets there only.
