Coinbase makes EOS cryptocurrency announcement

Coinbase has added EOS cryptocurrency support for its retail customers.

In a blog post, it says that the option will be available on Coinbase.com and in its Android and iOS apps. “EOS will be available for customers in most jurisdictions, but not initially for residents of the United Kingdom or the state of New York. Additional jurisdictions may be added at a later date,” the post notes.

It adds: “EOS is a cryptocurrency designed to support large-scale decentralised applications. There are no fees to send or receive EOS. Instead, the protocol requires EOS to use resources like RAM, CPU, and network bandwidth. It also rewards the entities that run the network periodically with new EOS, effectively substituting inflation for transaction fees.”

The addition comes after Coinbase announced a new process for listing assets and revealed 30 assets it planned to list in the future, including EOS. This was seen as an attempt to side step accusations of insider trading as was the case when it added Bitcoin Cash.

According to CoinMarketCap data, EOS has seen a price bump in recent days, in line with the general market, although at the time of writing it is trading at $7.86, down 5.47% over the last 24 hours.