BTC Wires

Coinbase Pro Adds EOS to Its Trading Portfolio

Coinbase Pro the professional trading platform has recently expanded its crypto trading platform by adding  EOS, Augur’s REP and MakerDAO’s MKR to its existing crypto token list. The professional exchange is sub-arm of the famous Coinbase exchange which has been specifically developed for professional traders who like to make bulk transactions.

The US-based exchange in its announcement said that the traders can start depositing listed tokens as of 19:00 UTC, with EOS and Augur’s REP now available in every jurisdiction that Coinbase Pro services, except New York state. MKR can be bought in all jurisdictions outside the United States.

Another thing to note here is that EOS and REP have got all trading pairs, be it against the Bitcoin or Euro or USD, but MKR can only be traded against Bitcoin and USDC (a stable coin launched by the platform).

Users of the platform would not be able to make trades right away with the newly added tokens since the addition of new tokens would go through four phases.

How the Four Phases Would Pan Out?

For the 12 hours after the announcement, the listed customers can only transfer the newly added EOS, REP and MKR to their accounts, and for a brief period after that, the customers would be allowed to post limit orders which won’t be matched for one minute.

After this phase, the limit order matching would start, but during this matching phase, the customers would not be allowed to post orders for another 10 minutes. After these phases are completed, the platform would allow for full trading activity for the new tokens including, market, limit and stop orders.

Final Thoughts

The addition of EOS, REP and MKR tokens to the existing list of crypto tokens on Coinbase Pro would help the platform provide a better range of trading options on the platform. Apart from that the addition also provides better trading liquidity and ease for the customers on the platform.

Coinbase Pro being specifically focused on the bigger traders who like to trade bigger volumes would surely welcome the recent move and hoping for other additions very soon quite similar to the current one.