CoinCola, a leading OTC Bitcoin trading platform, recently announced it would be adding support for the EOS cryptocurrency on its OTC trading desk for its retail customers. This is a move to help Asians enjoy the zero transaction fees feature and other benefits of the EOS token.
CoinCola marketplace made this announcement in a Reddit post on June 26 that the option to trade EOS token would be available on its peer-to-peer trading platform, enabling users to sell, buy, exchange, receive, send, convert, or just store EOS. Users will have the opportunity to buy EOS token with Fiat currencies, other cryptocurrencies, or gift cards.
According to the marketplace, the EOS option is now available for all customers in all of CoinCola’s served jurisdictions. The addition of the token comes after the company decides to add more and new crypto tokens to its platform.
In the post, the EOS token is described as a token created to support large-scale decentralized applications (Dapps). There is no transaction fee associated with sending or receiving the EOS token. Rather, the protocol requires the token to use resources such as network bandwidth, CPU, and RAM. The protocol also rewards those that run the network with new EOS token, which substitutes for the inflation for transaction fees.
According to CoinMarketCap data, the market cap ranking of the EOS token is 6th, and it holds a market capitalization of $5 billion USD as of June 2019. A total number of 900 million plus EOS tokens are in circulation. The EOS token also has seen a price bump in the last several days, although this aligns with the general market movements for other top crypto tokens. As at the time of this writing, EOS token is trading at $6.24, rising by about 5.82 per cent over the last 24 hours.
EOS differs from other cryptocurrencies in that it does not charge any transaction fees – a feature that makes the token better than all the other cryptocurrencies. EOS is a decentralized platform that offers far higher scalability. Though the Ethereum platform can also run smart contracts, the EOS platform claims to offer faster transaction times (about 6000 transactions per second), and quicker execution in a secure and smooth scale.
Also, Ethereum uses a Proof of Work (PoW) system for its mining operations while EOS uses the Delegated Proof-Of-Stake (DPoS) system for its mining operation, which is faster, and less energy intensive as the PoW system. EOS does not require the use of a specific language to build their Dapps, instead, it enables developers to use C++ to build their apps!
Future Prospects of the EOS Token
The token witnessed more than a 15 times increase between late 2017 and early 2018, soaring as high as from about $1 to over $15, though it later plunged to below $8. Impressively, despite the general decline in the cryptocurrency, the price of an EOS coin has been improving and currently stands at $6.24. There are speculations that the price of EOS token would reach $30 by the end of 2019, which should subsequently lead to a price of about $143 in the next four years. Therefore, the entire amount of financial benefits that can be gained from investing in EOS is fairly big, which is why it is worth investing in the cryptocurrency.
Since, CoinCola is an over-the-counter cryptocurrency marketplace that has the goal of enabling a seamless, convenient, and affordable cryptocurrency trading experience for users, offering EOS token on the marketplace is in line with CoinCola’s goal. Coincola also offers extensive trading services, which include banking and payment services on a unique OTC option. Hence transacting with EOS on the platform ensures very fast and low-cost trading services. More so, the ability to buy EOS with gift card on the platform is an added advantage to users. This makes CoinCola the best EOS trading platform.
Disclosure: This is a sponsored press release