How to buy EOS: beginner’s guide
Ethereum has been a huge success in the crypto world. Its profitability prompted other crypto developers to launch the similar platforms. Like ETH, EOS supports decentralized apps, smart contracts and its own cryptocurrency to fuel it all. Furthermore, EOS is not just a cheaper copycat – it’s a successful start-up.
EOS is developed by the company called Block.One. The chief persona in this process is D. Larimer, who already had a lot of experience developing Blochchain products before EOS surfaced.
EOS platform is friendlier and bigger than ETH, which is the main reason why people flock to it – creating software on it is incredibly easy. The developers can also exert more control over the infrastructure, because there are much fewer computers tasked with block-creation.
Buying EOS in few easy steps:
- buy a wallet where you can store EOS;
- set up an account;
- get an address;
- join a crypto exchange;
- fund the account;
- buy EOS;
- withdraw EOS to the wallet
Let’s take a closer look. There are several kinds of wallets to store EOS tokens: desktop and hardware. If you want a quick start, use online wallets that run on your PC. However, be aware that they are less secure than hardware wallets, which are physical devices.
EOS wallets have special features. Most notably, there are two personal keys – one for you and one for people who want to send crypto to you. The former is also in control of the latter, so it’s very secure.
You’ll need to get an account for an EOS wallet if you want to send these tokens anywhere. It’ll be connected to the Blockchain, and your data will also be stored there. You can get yourself a wallet in several ways, some requiring payment.
Hardware wallets for EOS storage are compatible with most desktop computers, and some are suitable for Android and iOS. The only drawback of such token storage is its high cost.
There are also more affordable options, like the wallets that support numerous coins. They are available on PC and on mobile as special apps.
There are ways to acquire EOS for specified currency or trade BTC and ETH for EOS.
Buying EOS through eToro
For those who prefer investing into EOS, there’s eToro – the user-friendly trading software.
eToro is nothing like the usual crypto exchanges that give you a right to buy, sell and store crypto. eToro only allows speculation, you can’t receive EOS you bought, only sell them and receive the value in fiat money.
Remember that cryptocurrencies are risky, i.e. they are not suitable for all investors. Keep in mind that cryptocurrency trading is not controlled by any EU regulatory framework.
Buying EOS through Coinbase
Coinbase is a renowned crypto exchange. You can access it from virtually anywhere on the planet and then trade EOS through various methods:
- Purchasing it right on their official website – it’s convenient, costlier than usual and simple enough
- Through Coinbase PRO – it’s harder, but also much cheaper
You can deposit or withdraw funds from Coinbase using a card, a bank transfer or a payment system.
Buying EOS through Binance
Binance is arguably an even bigger name in crypto world than Coinbase, but the functions are largely the same.
To acquire EOS from Binance, you’ll have to fund the account with a bank card, buy BTC or ETH and then trade either for EOS. You can’t buy EOS without intermediaries on this exchange, sadly.
Buying EOS through Kraken
Kraken is largely similar to the previous two, but they have a unique shtick – a simple registration process, and also small commissions. Thanks to it, you can easily convert your EOS savings to dollars or even Bitcoin.
How to buy EOS for cash or through PayPal
You can’t redeem your physical money or PayPal savings for EOS directly, although there is another way. You can always fund a crypto exchange with either of these methods, buy Bitcoin and then redeem it for EOS.
Most investors who want to sell EOS exchange it for BTC or Ethereum. Since selling EOS directly is difficult and expensive, you can exchange it for these cryptocurrencies to convert to cash.
How can you sell EOS?
You can do it just as easily on one of the exchanges listed prior – you’ll have to join one of them, deposit your EOS savings and then sell them. This way you can withdraw your money more quickly thanks to the large amount and liquidity. Then transfer the tokens you received to your wallet or brokerage account.
If you are very interested in how to sell EOS, remember:
- EOS price forecast is positive both in the short and long term;
- EOS is gradually becoming a leader in the decentralized application industry;
- in 2020, the price of a coin may return to 6.104 USD;
- in the next three years, the rate will increase to 6.97 USD;
- EOS cryptography can change to 18.06 USD in 2025.
However, EOS has a decent number of competitors developing in a similar direction. Tauchain, Quantum, Tezos and others also present themselves as Blockchain projects for launching decentralized applications. If at least one of the opponents breaks ahead, the chance of realizing positive forecasts will decrease.