Coinbase Starts Supporting EOS Cryptocurrency

Coinbase Starts Supporting EOS Cryptocurrency

June 3, 2019 Editor's Desk

One of the top United States-based cryptocurrency exchange and wallet service Coinbase has added support for EOS, as stated in a press release.

According to reports, this new addition is available for trading and storage in most areas covered by Coinbase, with the exception of the United Kingdom and New York at press time.

In the announcement it was also mentioned that there are no transaction fees associated with EOS; the cost is instead paid in computing resources, such as a tax on RAM, CPUs, or network bandwidth. Users that run the network would also earn EOS by adding to the computational power needed to run transactions.

EOS is one of the largest cryptocurrencies recently added to the exchange — with a market cap of over $8 billion — since Ripple’s token XRP was added in February. Coinbase also recently added support for two more tokens, stablecoins dai and USD Coin (USDC).

In the first week of may, Coinbase also expanded its global offerings of services, with announced trading support for over 50 new jurisdictions and an educational program with small crypto payments, Coinbase Earn, is now available in over 100 countries.

More recently, Vice President of Business, Data and International of the company, Emilie Choi, confirmed that decentralized trading is not on the main area for the exchange to focus on right now.

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