Beginning on Saturday (April 10, 2021), digital asset exchange Coinbase will be supporting trading with 1inch (1INCH), Enjin Coin (ENJ), NKN (NKN) and Origin Token (OGN) at Coinbase.com and in the Coinbase Android and iOS apps.
Coinbase users are now able to purchase, sell, convert, send, receive, or store 1INCH, ENJ, NKN and OGN. 1INCH, ENJ, NKN and OGN are “available in all Coinbase-supported regions, with the exception of 1INCH and ENJ in New York State.” 1INCH, ENJ, NKN and OGN trading are “also supported on Coinbase Pro,” the company confirmed in a blog post.
1inch (1INCH) is an Ethereum token that’s used to power transactions on 1inch, which serves as a decentralized or non-custodial crypto exchange that aims to provide the “best rates by discovering the most efficient swapping routes across all leading DEXes.”
Decentralized exchanges or DEXs such as 1inch allow traders to transact digital tokens without a third-party or intermediary. 1inch aggregates crypto-token prices across several different exchanges in order to “find the best prices for users.”
Enjin Coin (ENJ) is an Ethereum token that has been designed to “make it easy for individuals, businesses, and brands to use non-fungible tokens (NFTs).” ENJ is used to “directly back the value of NFTs minted within the Enjin ecosystem,” the Coinbase team explained.
NKN (NKN) is a public blockchain that intends to use “economic incentives to motivate Internet users to share network connections and utilize unused bandwidth.” NKN intends to serve as a network for developing decentralized applications or dApps in a manner that improves peer-to-peer data transmission and connectivity.
Origin Token (OGN) is also an Ethereum token that’s used to power transactions on the Origin platform, which aims to “power decentralized and peer-to-peer marketplaces.” OGN can be “used for staking, governance, and advertising on the Origin platform,” the Coinbase team noted.
Coinbase also mentioned that one of the most common or frequent requests they get from clients is to have the option to purchase and sell more digital currencies via Coinbase. The digital assets firm has a set process for listing assets, which aims to “accelerate the addition of more cryptocurrencies.”
Coinbase’s management added:
“We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see 1INCH, ENJ, NKN and OGN), as well as a new section of the Coinbase website to answer common questions about crypto. Customers can sign up for a Coinbase account here to buy, sell, convert, send, receive, or store 1INCH, ENJ, NKN and OGN today (starting April 10, 2021).
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