Coinbase, the United States-based cryptocurrency exchange, is expanding its cryptocurrency support by bringing in the Cosmos (ATOM) token. According to an official blog post, the asset is available as of today, and users can buy, sell, and trade the asset on any platform they can access Coinbase on.
The blog post defines Cosmos as the following:
“Cosmos is an interoperable blockchain protocol that facilitates the transfer of data between existing chains. It operates via a hub-and-spoke model that leverages the design elements of other chains to enable cross-chain interaction. The Cosmos framework features a Byzantine Fault-Tolerant (BFT) consensus algorithm developed by Tendermint to secure the protocol.”
Cosmos now has its own informational post on Coinbase as well, so users can learn a lot more about what they’re putting money into.
As you may know, Coinbase is pretty specific about which assets it allows on the platform. For users who want to be more informed on the listing process and which assets they choose to put on the exchange, look at this link here. That said, while Coinbase has expanded its offerings quite a bit from the initial ones like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ethereum Classic, they’re still nowhere near the number of supported assets as competitors like Binance and the like. Is that for better or worse? Well, we’ve yet to see for sure.