BitTrade, a cryptocurrency exchange registered in Japan, announced today that trading will begin in EOS, an altcoin token used on its decentralized application platform. EOS Foundation President Yves La Rose also shared this important development and expressed his excitement.
BitTrade is finally launching EOS trading!
cryptokoin.comAs you follow from, on August 30, 2023, EOS Network Foundation announced that EOS received whitelist approval from the Japan Virtual and Crypto Asset Exchange Association (JVCEA). This development allows EOS to be traded in Japanese yen parity on regulated exchanges. This step was first taken by the popular cryptocurrency exchange BitTrade. In this regard, BitTrade announced that it will start trading at 15:00 JST starting from September 13, 2023. This marks the first time the altcoin token has been traded domestically in Japan.
Meanwhile, EOS Foundation President Yves La Rose also shared this important development with his followers. La-Rose expressed his excitement at being listed on a registered crypto exchange in a rapidly growing market. In addition, the President of the EOS Foundation thanked the Japanese EOS community for their support.
The Japan story of the altcoin project
EOS is known for its use in smart contracts and decentralized applications. In this regard, users also have the opportunity to use it as a payment method in staking, NFT purchases and games. The JVCEA approval underlined EOS’ commitment to transparency and security. It also demonstrated Japan’s adherence to rigorous digital token regulations. Yves La Rose, CEO of EOS Network Foundation, expressed the importance of this milestone for EOS’s growth in Japan. The network’s expansion, including projects such as Upland’s metaverse in Tokyo, demonstrates its growing popularity in the region.
One of the notable features of EOS is the “burning mechanism” of the altcoin project. This mechanism aims to address concerns about token inflation and excessive dilution. Thus, reducing the total number of tokens in circulation. Shiba Inu is another coin that uses a similar burning mechanism. Burning potentially affects the token price. By the way, experts recommend that users thoroughly understand this mechanism before trading. Detailed information about the burning method and history is available on the official website of the EOS Network Foundation.
The crypto exchange also made some warnings for the altcoin!
However, BitTrade also warned potential investors that the start date and time may change without prior notice. The exchange stated that the altcoin project is not backed or guaranteed by any government. Instead, he emphasized, it is digital data traded online. It warned users to be aware of the risks in cryptocurrency trading, such as potential devaluation and the need to protect their private keys.
BitTrade is a cryptocurrency exchange registered under the Financial Services Agency and Kanto Local Finance Bureau. It is also a member of the Japan Cryptocurrency Trading Association.
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