Coinbase Announces EOS Support on Cryptocurrency Platform

Coinbase announced on Thursday it is now supporting EOS (EOS) on its cryptocurrency platform, as well as in the Coinbase Android and iOS apps. According to Coinbase, EOS is a cryptocurrency designed to support large-scale decentralized 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.”

Coinbase then reported that EOS will be available for customers in most jurisdictions, but will not initially be available for residents of the UK or the state of New York. Additional jurisdictions may be added at a later date. The platform added:

“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.”

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