Poloniex Exchange Adds EOS Token & Circle Invest Adds Recurring Buys Feature
Poloniex, one of the world’s largest cryptocurrency exchanges, will officially add EOS to its exchange.
The announcement comes a few weeks after Poloniex introduced the new Circle Asset Framework, a tool for prioritizing new crypto asset listings across Poloniex’s various crypto products.
“We applied this framework to assess projects across a few categories – fundamentals, technology, people, business model, and market dynamics – and we are ready to announce the addition of a new asset to the Poloniex family: EOS” explains Poloniex and the Circle Team in a blog post.
Circle acquired Poloniex five months ago. Over the course of 2018, Circle has made a number of efforts to improve the exchange. They’ve boosted withdrawal and deposit reliability, for example, and cleared over 175,000 legacy support tickets. The next step is to invest in new ways to grow Poloniex into a leading crypto exchange. Circle believes listing EOS on the exchange is a good start.
When Will EOS Trading Begin?
EOS deposits and withdrawals are now live on Poloniex.
Trading in EOS pairs will begin on August 1, 2018.
Poloniex will list three EOS pairs, including:
Poloniex will only accept EOS mainnet tokens at this time, and they don’t have plans to accept the ERC20 version of the EOS tokens. Poloniex will also not support EOS airdrops for the near future.
EOS is an open-source blockchain protocol frequently compared to Ethereum. Both Ethereum and Eos allow for decentralized application development. EOS tokens grant access to bandwidth and storage on the EOS decentralized operating system. After the EOS token sale, the developer, Block.one, distributed EOS tokens in the form of ERC20 tokens on the Ethereum blockchain. On June 14, the EOS mainnet went live, and users have been able to transfer their ERC20 tokens into EOS mainnet tokens at a 1:1 ratio.
Ultimately, this is more good news for EOS as the decentralized ecosystem continues to expand its influence across the internet. The price of EOS didn’t seem to change much on the news. EOS is down 5.47% over the last 24 hours, similar to drops across the rest of the crypto market. EOS still occupies the #5 position in terms of total market cap, nestled between Stellar (XLM) and Bitcoin Cash (BCH).
Circle is Introducing Recurring Buys
At the same time as Circle announced the EOS news, it also added another exciting piece of news: the exchange is adding recurring buys to Circle Invest.
Coinbase is one of the most popular exchange platforms that offers recurring buys. Now, with Circle, traders can enjoy similar functionality. Circle’s recurring buys feature lets you set a dollar amount and a timeframe – like daily, weekly, monthly, and bi-monthly – to start investing gradually. It’s all automatically done for you within the platform.
The recurring buys feature makes it easy to practice crypto purchasing techniques like dollar cost averaging, where you spread out the purchase of a cryptoasset over a long period of time. You can avoid the short-term price dips and average your costs over a long period of time.
Circle’s recurring buys feature is now available through the mobile app and desktop trading platform, as announced on Twitter:
Introducing our latest feature on Circle Invest, recurring buys. You can now invest gradually without the stress of trying to time the market! https://t.co/vv1m7YLdNr
— Circle Invest (@circleinvest) July 31, 2018