A Big Crypto Asset for a Big Exchange
Customers of OK Coin will now have the chance to trade, sell and purchase units of EOS. The exchange released an official statement regarding the properties and benefits of the asset:
Developers use EOS, the native cryptocurrency used by the EOSIO blockchain protocol, to create decentralized, commercial-scale applications. EOSIO combines a smart contract platform and decentralized operating system, providing services such as access control, authentication, storage, computing power and more. The objective is blockchain architecture that can scale to millions of transactions per second without user fees, thereby providing users with incredible speed, security and performance.
OK Coin claims to be one of the largest digital currency exchanges across the globe. Founded in the year 2013, it boasts users in more than 100 separate countries. At the time of writing, OK Coin offers users the chance to trade, buy and sell multiple cryptocurrencies including bitcoin (BTC), bitcoin cash (BCH), Litecoin (LTC), Ethereum (ETH) and Ethereum Classic (ETC).
It follows varying regulations and legal statutes in both the U.S. and abroad and seeks to improve transaction efficiency for its customers. It also claims it’s looking to roll out many more cryptocurrencies for users to trade in the future.
It describes EOS as a “scalable, flexible cryptocurrency” for use in “real-world scenarios.” The currency is still relatively new, especially when compared with bitcoin and some of its more mainstream competitors. However, it is already experiencing widespread attention from decentralized app (dApp) developers around the world.
At press time, OK Coin has already rolled out withdrawals and inbound transfers for customers. It says that spot trading for EOS-USD will be available starting at 8:30 pm PST tonight. Customers who first initiated inbound transfers by April 27 were placed in a contest to earn as many as 100,000 EOS tokens. A winner has not yet been announced.
It Just Keeps Growing and Growing…
EOS has surged in price by more than 100 percent over the last two months, proving it to be one of the most popular cryptocurrencies out there. Bitcoin, by comparison, has surged less than 40 percent since it fell into the mid-$3,000 range last November. As of late, one unit of bitcoin is trading for just under $5,150, suggesting it has dropped somewhat from its recent $5,600 high.
OK Coin was among three primary cryptocurrency exchanges in China before present regulations forced it to move its business overseas. It has handled nearly $2.5 million in cryptocurrency trades over just the last day alone, while its crypto-to-crypto entity OKEx is the world’s second-largest cryptocurrency exchange.