As per the official press release published by Coinbase on 30th May 2019, it is adding support for the digital currency token EOS on its platform Coinbase.com as well as on its iOS and Android application. That means Coinbase users will be able to send easily, receive, purchase, sell, and store EOS tokens. Apart from that, support for exchanging EOS crypto tokens against fiat currency has also been added.
Coinbase, one of the leading digital currency exchanges based in the United States, also announced the news on Twitter to update its crypto community.
EOS is launching at https://t.co/iQARfi557o and in the iOS and Android apps within the next 15 minutes. You may need to update your app to properly buy, sell, convert, send, receive, or store EOS. We will update when EOS is fully live. https://t.co/sh8XmE1Wit
— Coinbase (@coinbase) May 30, 2019
The official announcement also revealed that EOS would be available to most of the countries where Coinbase presently operates, except for New York and the United Kingdom. The exchange will add additional jurisdictions in the near future, stated the release.
Divulging more details, the official post also disclosed that users will not be imposed with any kind of transaction fees on sending or receiving EOS tokens. However, the cost will be paid in utilizing computer resources in the likes of taxes on RAM, network bandwidth, and CPUs. Moreover, Coinbase will also provide users who run the network with opportunities to earn EOS tokens. For that, all they have to do is contribute to the required computation power needed for processing and completing transactions.
Before this, EOS trading had already been made available from the month of April on Coinbase Pro, a dedicated platform specially designed for crypto traders.
EOS, short for Enterprise Operating System, is the 5th largest digital currency as per CoinMarketCap rankings. It’s market capitalization has reached more than 8 billion dollars.
Coinbase, on the other hand, has been consistently extending its support towards an increasing number of digital currencies off late. It was only in February that it had added Ripple’s XRP token on its exchange platform. Other than that, crypto enthusiasts also witnessed Coinbase adding support to stablecoins such as USDC (USD Coin) and Dai, only recently.
As Coinbase says, they came up with a new asset listing process in last year’s September, which primarily focused on boosting the inclusion of more digital currencies. The exchange also invested in offering new tools which dedicatedly helped people explore cryptos and learn about them thoroughly.