Where and How to Buy EOS: A Step by Step GuideEOS
You’ve done your research. You’ve logged countless hours separating the good projects from the bad ones; you finally know which cryptocurrency you want to buy. No, no, not Bitcoin, but rather a lesser-known altcoin: EOS. And here’s how to buy EOS.
- Release Date June 2018
- Total Coin Supply 1,026,684,719 EOS
- Algorithm DPoS, aBFT, Byzantine Fault Tolerance, BFT-DPoS
- Blocks time 0.5 seconds
- Volume $6,252,777,867
- What is EOS?
- EOS history
- How EOS Works
- Ecosystem development
- EOS price in 2020
- Step by step guide for buying EOS
- Where to buy EOS coin?
- Which payment methods can I use to buy EOS?
- What costs are charged when buying EOS?
- How to buy EOS in the US 2022?
- Where and How to Buy EOS in Australia: A Step by Step Guide
- Where and How to Buy EOS in Canada: A Step by Step Guide
- Where and How to Buy EOS in UK: A Step by Step Guide
I’m not going to waste your time about the project itself – although I will touch on it. The purpose of this tutorial, however, is to show you exactly what you need to do to get your hands on some EOS. That said, here is a beginner’s guide on how to buy EOS.
What is EOS?
EOS is the native cryptocurrency of the EOS blockchain network. EOS was initially launched as an ERC-20 token Ethereum. However, when the EOSIO open-source software launched in mainnet n June 2018, it was later converted into an EOS token. EOS is a brainchild of, Dan Larimer. He is also the co-founder of Bitshares and Steemit. EOS is among a growing list of so-called ‘Ethereum killers’ due to its vision of displacing the leading smart contract platform. EOS is far from the only challenger to Ethereum, with Solana, Polkadot, and Cardano and a host of other platforms competing for market share.
The project’s ICO kicked off in 2017 following Block.One’s record-setting ICO, raising more than USD 4billion. Something worth knowing about the ICO, however, was that it lasted an entire year. Most projects only last a few days, or maybe a month, but EOS chose to go longer.
When EOS officially launched in June 2018, it immediately became the fifth-biggest token on the market based on crypto market cap.
Some people don’t know about the EOS ICO because there was a little controversy surrounding it. Since the EOS blockchain didn’t exist in 2017, the sale didn’t directly release EOS tokens to investors.
Instead, they received ERC-20 replacements, which would serve as a stopgap until the platform went live in 2018. At that time, investors received their native EOS tokens.
Some were worried that the ERC-20 tokens wouldn’t be honored when the time came, while others showed concern about the volatility of the token’s performance before the platform’s launch.
To learn more about EOS and it’s team, token, and history, check out eos.io.
How EOS Works
In simpler terms, EOS is an architecture that complements the Internet. It serves as a software that enables developers to build decentralized applications while utilizing blockchain technology. EOS network is built to meet the performance needs of decentralized applications in terms of interacting with millions of individuals at any given time.
EOS utilizes DPoS or Delegated Proof of Stake consensus mechanism that needs EOS token holders to vote for their favorite BPs or block producers to create blocks and validate transactions.
EOS price in 2020
Unfortunately, EOS has not had a great year. Currently, the coin is in a “bearish” state, trading at just below USD 3.
Resistance levels show up at USD 3 and $3.50, while support levels show up if EOS’s price is USD 2.50 or $2. If the price does manage to break $3, many in the industry will view that as a signal to buy EOS.
If the coin can manage to follow the rest of the bull cryptocurrency market and rise about USD 3.50, the next resistance point would be USD 4.
On the flip side, if it continues to stagger and drops beneath USD 2, investors would use that as a signal that it’s time to sell EOS.
Step by step guide for buying EOS
We’ve covered the basics of EOS, so now let’s get into why you’re here. Here is our step-by-step guide on how and where to buy EOS. We’ll start by choosing the best wallet for your coins.
Choose Best Wallet For EOS
If you’re familiar with crypto, then you know that there are three types of wallets in which you can store EOS and other digital coins. There’s a physical wallet, a desktop wallet, and a mobile wallet. Let’s take a closer look at your best EOS options for each wallet type.
A physical wallet is just what it says – a representation of your EOS that you can hold in your hand. There are a few options to choose from: a hardware wallet and a paper wallet.
Ledger Nano S – This hardware wallet is both appealing and versatile. With it, you can store your favorite digital currencies, including EOS. The Nano S offers a built-in LED screen, along with features that allow you to confirm transaction information anytime you want. It’s easy to configure and set up so you can plug it right into your laptop’s USB port. Once that’s done, you can manage your EOS as you see fit.
Ledger Nano X – If the Nano S doesn’t have enough features for you, check out the Nano X. This upgraded hardware will cost you more upfront but will provide additional advantages you won’t get with the Nano S. For example, the Nano X can hold more decentralized applications than its counterpart, along with the ability to manage multiple wallets on the same device. If you’re into Bluetooth, the Nano X offers that functionality as well.
Paper Wallet – One of the safest ways to store your EOS is in a cold storage paper wallet. It’s literally a piece of paper with your private keys on it. The beauty of a paper wallet is that it’s never online, so there’s no way for a hacker to access your coins.
Of course, paper wallets aren’t perfect. If you don’t keep it safe, it could be stolen or destroyed. If you do decide you’d prefer to keep your EOS in a paper wallet, be sure to make a few copies and keep them all in a place where they’re secure and protected.
Desktop wallets reside on the desktop of your PC or Macbook and support Windows, macOS, and Linux operating systems. These are wallets that are only connected when you are. Many of these applications provide frequent updates to incorporate new blockchain features along with additional coin support.
Exodus – Exodus is my desktop wallet of choice. It’s a multicurrency wallet that supports Bitcoin, Ethereum, EOS, and many more coins. I personally like this wallet due to how easy it is to use, how well it’s designed, and how many features the company offers its users. With the latest features and a long list of supported coins, Exodus is a great desktop cryptocurrency wallet for your EOS.
Scatter EOS Wallet – Another solid desktop application for your EOS is the Scatter EOS wallet. The app has a single sign-on feature that lets you log into multiple applications and view several transactions. But don’t worry. All your information is stored on the app itself and isn’t shared online.
GreyMass – This EOS desktop wallet offers its users an easy to use interface, along with guides and tutorials that help explain EOS and it’s purpose. However, it’s a lightweight wallet, so that you won’t get a lot of the features you’ll get with full-fledged cryptocurrency wallets. GreyMass is very secure, uses AES-256 encryption, and boasts that it has never been hacked.
Mobile wallets are wallets that you can take with you on the go. Typically these mobile apps support Android and iOS, so you’re covered no matter what type of smartphone you own. Like desktop wallets, mobile wallets release frequent updates, so you have the latest and greatest features right at your fingertips.
Lumi Wallet – The first mobile wallet on our list is Lumi wallet, which supports both Android and iOS. If you want to use a larger screen, the app is also available in browser format. Lumi supports the vast majority of digital coins, including Bitcoin, Ethereum, Litecoin, EOS, and many other ERC-20 tokens. Users can also purchase crypto with their credit card and exchange it for other coins within the wallet’s safe confines.
Guarda EOS Wallet – Another nice multicurrency EOS wallet available for both iOS and Android is the Guarda EOS wallet. The wallet itself doesn’t keep track of your private keys, which makes it one of the more secure mobile wallets in the industry. Guarda is sleek, clean, and simple, so even novice users will have no trouble getting set up and moving EOS to their wallets.
Atomic Wallet – Last on our shortlist of mobile wallets is Atomic wallet. This multi-asset wallet is an excellent option if you want to store and manage your EOS on the go. Atomic supports more than 300 digital coins and tokens, so if you have other assets, you can manage them through the wallet as well. It’s user friendly, and the team releases weekly updates that include new asset support and additional features.
Where to buy EOS coin?
When it comes to purchasing EOS, your best bet is going to be a cryptocurrency exchange. Fortunately, there are several high-profile, secure exchanges you can use to get your hands on some EOS. Here are just a few you might consider.
Kraken is probably one of the most well-known and well-respected exchanges for buying, selling, and trading digital currencies. They offer funding options, staking, margin trading, liquidity, and 24/7 support for beginners and experienced traders alike.
If you want a trusted exchange that offers plenty of features, you can get started on the Kraken website or download the Android or iOS app today.Visit Kraken
When you’re ready to buy EOS, you might find that buying it through a globally recognized crypto exchange such as Kraken will be the easiest way to do so. Kraken users get low transaction fees along with an easy to use interface, which is why the exchange is rated as one of the best in the world.
Kraken is also known as being a secure trading platform, which means you’re not likely to lose your EOS as a result of hackers. The exchange uses high-quality technology and regularly audits its systems to ensure its user’s assets’ safety and security.
Buying EOS on Kraken is easy and straightforward. The first thing you’ll need to do is create your account. Once you’re completed the verification process, you’ll be able to fund your account.
You can use either crypto like Bitcoin or Ethereum or use fiat currency like USD, EUR, or GBP. However, using fiat requires an extra level of verification.
Next, deposit your fiat or cryptocurrency onto the exchange. Once your funds arrive, you’re ready to go. You can buy any amount of EOS you want.
Keep in mind that Kraken has a minimum EOS order of 3, so it will have to be at least that much.
Binance is the exchange to use if you’re new to the world of cryptocurrency. It’s intuitive, easy to use, and supports all the most popular cryptocurrencies. It makes buying, selling, and trading simple and even the most novice users will enjoy the pleasant user interface Binance has to offer.
When it comes to buying and selling crypto, there are few exchanges better than Binance.Visit Binance
Like Kraken, Binance is a globally known cryptocurrency exchange that prides itself on being one of the industry’s best platforms. You’ll have no trouble purchasing EOS on a platform like Binance that does plenty of buying, selling, and trading on a daily basis.
The registration process on Binance is similar to other cryptocurrency exchanges. You’ll register for an account and provide personal information to confirm your identity.
This is a process called KYC or Know Your Customer, which lets the exchange know who is doing what on its platform. Once that’s done, you can send some BTC or ETH over to Binance.
When your funds arrive, find the appropriate trading pair on the trading screen. It will be either BTC/EOS or ETH/EOS.
Enter the amount of EOS you want, hit that submit button, and wait for the complete trade. Once it does, you’ll have EOS in your Binance wallet. Send it off to one of the wallets mentioned above for safekeeping.
Along with being a long-running, top-tier exchange that offers liquidity, Bitfinex allows you to trade Bitcoin as well as other popular digital assets. They also provide margin funding, margin trading, and a customizable interface.
Generate yield by downloading the Bitfinex app on your Android or iOS device today!Visit Bitfinex
As with other exchanges, the first step to purchasing EOS on Bitfinex is to set up an account. You’ll get an email that will kick off the process to validate your identification.
Typically you need to provide information like a driver’s license or passport to show the exchange you are who you say you are.
Once that process is complete, you’ll want to fund your account. Bitfinex allows users to use either fiat currencies or cryptocurrencies.
However, fiat requires additional steps in the verification process, while crypto will let you start trading right away. New accounts are limited to USD 10,000, so if you want more EOS than that, you’ll have to wait.
Check your “deposits” tab to ensure that your funds arrive. When they do, you can head to the “trade” section, find the trading pair you want to use, enter the amount of EOS you want, and click “exchange/buy.”
That’s all there is to it. The entire process typically only takes a few hours. It could take longer depending on how long verification is taking, but it’s rarely longer than a few hours.
One of the most popular sites to get started with crypto is Coinbase. This well-known wallet not only lets you buy, sell, and trade coins but also lets you earn more through short videos and courses. It’s a solid option for anyone new to the world of cryptocurrencies.
Learn about cryptocurrencies and more by visiting Coinbase today.Visit Coinbase
For many new to the world of blockchain and cryptocurrency trading, Coinbase has become the go-to exchange. This is in large part due to how easy the platform is to use.
Even though the site makes things convenient and simple, it still has its fair share of drawbacks. One of which is the limited amount of coins available on the platform.
Fortunately for us, one of the coins Coinbase does support is EOS. Just like with other exchanges, you’ll have to create an account and have it verified to use the exchange.
Fund your account, then buy all the EOS you want. Once you have EOS in your wallet, you’ll see it show up in your Coinbase portfolio.
One last thing to remember about Coinbase is that it will cost you 1 EOS to send the coin. There’s no minimum required amount to send, but no matter what, you’ll be charged 1 EOS to move your funds.
Additionally, Coinbase requires a memo in the transaction notes any time you send or receive EOS, so be sure you make a note anytime you perform a transaction involving the coin.
Purchase EOS on Coinbase Pro through a market or limit order. This is an advanced, more complicated method that needs less fees.
Which payment methods can I use to buy EOS?
Payment methods available to buy EOS or to buy bitcoin will vary depending on where you live and what exchange you use.
But rest assured, you can use almost any payment type you want to purchase EOS. Some exchanges will allow you to use fiat currencies like USD, EUR, GBP, etc.
Others will accept debit card and credit card payments, PayPal, as well as wire transfers and bank transfers.
However, the most common payment method you’re going to find is cryptocurrency.
Many platforms will let you load up your account with LTC, XRP, BTC, ETH, USDT or some other popular digital asset and trade it for EOS.
What costs are charged when buying EOS?
Perhaps, the most frequently asked question (FAQ) we always get is about low fees. Any costs you incur when purchasing EOS will be directly related to the exchange or platform you use. Some exchanges will charge as little as 0.1%, while others may require as much as 5%.
Often, sending or receiving EOS requires a fee of 1 EOS no matter how much you plan on moving.
If you want to find out more about the platform and the project, check out eos.io.
How to buy EOS in the US 2022?
If you live in the United States, there are plenty of ways to go about getting some EOS with US dollar in real-time, with minimal trading fees.
We’re already touched on some of these methods, including using an exchange like Binance, eToro, or Coinbase.
Users can also make use of wallets like Exodus to perform exchanges within the app itself.
After placing your crypto order through your chosen broker’s crypto exchange platform, your broker will carry out the order. Once your order is filled, you will see your EOS in your exchange account. To transfer crypto assets to your private crypto wallet, look for your wallet address and start a transfer from your exchange account to your wallet.
Where and How to Buy EOS in Australia: A Step by Step Guide
How to Buy EOS in Australia 2022
- First of all, you should look for a reliable Australian crypto exchange that supports both cryptocurrency and fiat to simplify purchasing EOS.
- Then open an account on an exchange of your choice that supports EOS.
- Next, verify your account to access all the features of the exchange. It’s also for security purposes.
- Then deposit funds into your newly-created account.
- You can deposit funds into your account with fiat currency, in this case Australian dollars (AUD) via your bank account, bank transfer, credit card, debit card, or deposit crypto from a cryptocurrency wallet to purchase EOS.
- Just tap the buy button to buy cryptocurrency.
- Complete your EOS buy and make sure you have a hardware wallet to store your EOS (especially important if you are gonna hold EOS long-term!). On the other hand, you can just hold your crypto in your exchange’s hot wallet if you’re gonna do crypto trading.
Where to Buy EOS in Australia 2022
- Digital Surge
Where and How to Buy EOS in Canada: A Step by Step Guide
How to Buy EOS in Canada: A Step by Step Guide
- Of course, the first thing you wanna do is search for a crypto exchange platform that supports both fiat and cryptocurrency to make buying of EOS easier.
- If you can’t decide which exchange to choose, just list them up and compare them.
- Crypto platforms differ by payment methods, security, and exchange rate, so you will need to do a little bit of research which fits your needs. If you’re a beginner, you don’t really require a wide range of crypto features. Take note that you can always change exchanges later.
- Once you’ve decided which exchange to buy EOS, it’s now time to create an account on the exchange.
- You can register for an account by tapping the name of the exchange (we’ve listed them below!). This should take you to the account creation page. In that section, you can fill in your details such as your name and email address.
- Time to deposit funds into your newly-created account.
- Fund your account with fiat currency, in this case Canadian dollars (CAD). Of course there are other methods too such as bank transfer, credit/debit card (Visa or Mastercard), or cryptocurrency if you have an existing wallet.
- Then just tap the buy button to buy EOS.
- Finally, store your newly-bought EOS tokens to a secured cold wallet if you want to hold it long-term.
Where to Buy EOS in Canada 2022
Want to learn more about exchanges in Canada? Here’s a list of Best Canadian-based Crypto Trading Platforms in Canada.
Where and How to Buy EOS in UK: A Step by Step Guide
How to Buy EOS in UK: A Step by Step Guide
- The first step is to look for a crypto exchange brokerage that supports both fiat and cryptocurrency to trade EOS. If you’re in the UK, it’s also important that the exchange you’ll choose is FCA and CySec regulated.
- Make sure you compare crypto exchange platforms that supports EOS.
- Crypto exchanges differ by security, fees, and payment methods. So you will need to research which is the right fit for you, especially if you want faster payments. Also, if you’re an experienced trader, you need to consider if the crypto brokerage offers advanced crypto features such as CFDs. Speaking of CFDs, many retail investor accounts lose money when trading CFDs, so make sure you only put the money you can accept to lose.
- After choosing the best exchange for your needs. It’s time to sign up an account.
- In the next section below, we will list the best crypto exchanges in UK to buy EOS. If you’re preferred exchange is listed then just tap it so you can get redirected to the website’s account creation page. Just fill up the necessary details such as your name, email address, birth date, etc.
- After signing up, you can now deposit your funds to into your account.
- You can fund your account with SEPA (EU) bank transfer, credit/debit card, Skrill, etc.
- Once you’ve funded your account, you can now purchase EOS.
- Just complete your EOS purchase and you’re good to go.
- Also, if you want to hold your EOS tokens for long-term investment, you should definitely get a cold storage for it!
Where to Buy EOS in UK 2022
For a list of UK-based crypto exchanges, have a look at our comparison of the Best Crypto Exchanges in the UK 2023.
As you can see, there are many avenues through which you can get ahold of some EOS.
While the coin has yet to move past Ethereum as the top dapp provider in the industry, it’s still a project that continues to gather support. For the time being, EOS is focused on providing dapps to its users in a secure and safe method.
No matter what, when you’re ready to add EOS to your digital portfolio, you have plenty of ways to do so.
Whether it’s through an exchange, a wallet, or via another platform, there’s no shortage of methods to get your hands on some EOS.
Disclaimer: smartbillions.com is owned and operated by Smart Billions and may contain advertisements, sponsored content, paid insertions, affiliate links, or other forms of monetization.