March 27, 2020

How to buy EOS: beginner’s guide

EOS

EOS is a platform that launches decentralized applications and the cryptocurrency of the same name.It is considered to be the analog and competitor of Ethereum. There has been a lot of noise around this project lately, as its ICO has raised 4 billion dollars.

The founder of EOS is Block.one, a blockchain development company, in particular Dan Larimer, who is a co-founder of the BitShares and Steemit platforms. The technology was created as larger and more flexible than Ethereum, making it easy for developers to create Dapps. However, EOS is more centralized. This is because only 21 computers are responsible for the creation of new blocks.

How can you buy EOS? Quick Guide:

  • buy a wallet where you can store EOS;
  • set up an account;
  • find your address;
  • register on the cryptocurrency exchange;
  • replenish your account and buy EOS;
  • transfer the tokens to your 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.

Online EOS wallets work a bit differently than most cryptocurrency wallets. They have two private keys – the owner’s key and an active key. The first controls the active key, which is used to place and transfer tokens.

To send cryptocurrency from your wallet, you need to open an account.The account name is stored on the blockchain and looks like this: yourname768. There are different ways to create accounts, depending on the selected wallet. Pleasenotethatthisisnotalwaysfree.

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.

If you are not ready to spend money, you can also use multi-currency wallets for Windows and Mac, as well as special mobile apps for iOS and Android.

Several ways will allow you to buy tokens directly for the specified currency or exchange Bitcoins and Ethereum for EOS.

How to buy EOS through eToro

If you want to speculate on EOS quotes, the best choice is eToro – an easy-to-use trading platform for social trading.

It is important to distinguish between real stock exchanges that allow you to buy and store EOS tokens, and terminals such as eToro, which only allow you to speculate on value and not withdraw coins. If you decide to simply speculate on the cryptocurrency, you don’t need a wallet.

Remember that cryptocurrencies are highly volatile, i.e. they are not suitable for all investors. Keep in mind that cryptocurrency trading is not controlled by any EU regulatory framework.

How to buy EOS through Coinbase

Coinbase is a widely known cryptocurrency exchange, available in 103 countries worldwide. You can buy EOS here in two ways:

  • Directly on the exchange, that is, using its brokerage services. Fast and easy method with relatively high rates.
  • On Coinbase Pro via market or limit order. An advanced, more complex method that requires fewer fees.
  • The Exchange accepts debit cards, bank and internal transfers. For example, ACH or SEPA.

How to buy EOS through Binance

Binance is another popular e-currency exchange with dozens of altcoins.

Here you can buy Bitcoin or Ethereum with a credit or debit card, and then exchange it for EOS. This method is more expensive, but there is no other way to buy this cryptocurrency directly on Binance.

How to buy EOS through Kraken

Kraken is a platform known for relatively simple registration with relatively low fees. It allows you to replenish your account in euros and dollars. You can make an exchange of EOS to USD, EUR or BTC, ETC.

How to buy EOS for cash or through PayPal

There is no possibility to buy e-currency for cash or through PayPal. However, it is possible to go round the clock. You can always buy Bitcoin for cash or through PayPal and then exchange it for EOS on Binance.

How to sell 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?

Sign up on one of the cryptocurrency exchanges and fund your EOS account. Creating an account on the exchange is the easiest way to sell EOS. 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.