Cryptocurrency EOS Now Available For Trading On Coinbase

Cryptocurrency EOS is now available for trading and storage on the crypto exchange giant Coinbase according to a press release which we are reading today in the latest cryptocurrency news.

According to the press release, Coinbase has officially added support for EOS (EOS) on May 30. The new addition as mentioned is available for trading in most Coinbase covered areas with the exception of New York and the United Kingdom.

The announcement also pointed out that there will be no transaction fees associated with the cryptocurrency EOS since the cost will be paid in computing resources such as CPUs, RAM tax and network bandwidth. All of the users that will run the network will earn the EOS tokens by contributing to the computational power that is much needed to run the transactions.

According to the press release:

‘’One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. In September, we announced a new process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see EOS here), as well as a new section of the Coinbase website to answer common questions about crypto.’’

EOS is one of the largest cryptocurrencies that was recently added to an exchange such as Coinbase. The cryptocurrency has a market cap of over $8 billion and right after comes Ripple’s XRP token that was added in February. Coinbase also provided support recently for DAI and the USD Coin (USDC).

Earlier in May as noted in the coming altcoin news, the crypto exchange Giant expanded its global offerings and announced trading support for over 50 new jurisdictions. Coinbase also launched an educational program with small crypto payments named Coinbase Earn that is now available in more than 100 countries.

The Vice President of Business, Data, and International at Coinbase Emilie Choi, confirmed that decentralized trading is not an option for the exchange at this time. Choi said:

 “We have to make sure that if we offer a dex that we’re doing it in a way that is safe and secure and compliant. I think that there’s not a lot of clarity right now on how that would work. We think this space is interesting but we’re not actively investing in it right at this moment.
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