Augur’s (REP) Is Now On Coinbase Crypto Exchange; Unless You Live in New York
Coinbase, one of the largest cryptocurrency exchanges in the United States, has now started to offer a new asset for its clients: Augur (REP). The announcement was originally made on the company’s official blog.
Starting today, (almost) all customers with Coinbase accounts will be able to start trading the Augur Reputation Token (REP). Customers will be able to trade it in several ways, by buying, selling, sending, receiving, storing and converting their new assets.
It is important to notice, however, that the new REP tokens will be available in almost all jurisdictions, but not all of them. Residents in the state of New York, for instance, will not have access to the asset yet.
The tokens, according to the report, are based on the Ethereum blockchain (ERC20 tokens) and can be used for reporting and disputing the outcome of online predictions. Basically, you bet on events happening and you are paid if you get it right and lose if you are wrong, it’s a very simple system.
Coinbase Is Listing More Assets
Adding this new asset is, in part, a new effort from Coinbase in order to get more users. Since the end of last year, the company has affirmed that there was an increased demand for more diversity of tokens on the platform.
The company has also started a new listing process last year, which was aimed at being more open with the new tokens that were up to the standards of the company.
On the blog post, Coinbase has also affirmed that it was investing in more tools that could be used to help people learn more about how to explore cryptos.
Augur is a decentralized prediction market platform based on the Ethereum network. The less likely an event is to happen, the larger is the reward if you get it right. The idea that drove the creation of the platform was to create real-time data that could be more accurate than what the leading experts were offering at the moment with their predictions.
Users can use their REP tokens to bet on outcomes or to create their own marketplaces on the platform.