KuCoin, a cryptocurrency exchange registered in Hong Kong decided to remove some of the cryptocurrencies from its platform and Bitcoin Cash (BCH) is one of them.
This decision was announced through a statement issued by the cryptocurrency exchange in which it detailed the changes planned for the second quarter of this year. The exchange platform decided to streamline several markets. Three pairs of KuCoin Shares, the native token of KuCoin will be removed, as well as six pairs of Tether and NEO, while all the Bcash pairs will be removed.
This change is effective as of today and the platform assured the users they would not lose any token. KuCoin has not yet published the process of withdrawing BCH after its removal.
The cryptocurrency exchange says these changes were made to improve the user experience. At the same time, KuCoin integrated other cryptocurrencies into the platform in the last few days, such as Havven and OriginTrail.
According to CoinMarketCap, the removed pairs present only a tiny portion of the trading volume. For example, the BCH/BTC pair is the most active Bcash pair and it represents only 0.13% of the total trading volume of KuCoin. The BCH/ETH pair is the second one with only 0.05% of the trading volume.
If we take these numbers into account, the decision of the cryptocurrency exchange to remove these pairs and focus on adding other options that would bring more benefits to its clients is understandable.
A few days ago, Bittrex, one of the most important cryptocurrency exchanges in the ecosystem, announced the removal of more than 80 cryptocurrencies from its platform, because those cryptocurrencies presented security risks for the users.
According to Bittrex, the removed cryptocurrencies had problems with the code of their blockchain networks, which increased the risks when performing transactions with these altcoins. The cryptocurrency exchanges wanted to avoid all the potential problems with these cryptocurrencies and decided to remove them.
After all the hacker attacks that happened recently and the problems the attacked cryptocurrency exchanges faced afterwards, as we have seen in the example of Coincheck, other cryptocurrency exchanges started revising their services and making improvements to avoid potential problems.