How to buy EOS – The Complete Buyers Guide
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In this guide on how to buy EOS coin, we will walk you through the different steps you need to take for buying the cryptocurrency EOS.
We will talk about the different options that are available so that you can easily make a decision which suits you the best. We will also briefly explain what EOS is, how it works and why it might be worth investing in.
The steps to buying EOS are not that hard and with this guide, we will make it even easier for you to buy it. We will go through all the steps, the payment methods and where you can easily buy EOS in no time.
How to buy EOS options
- Buying EOS with Bank Transfer or Wire Transfer
- Buy EOS with a Credit Card or Debit Card
- Buying EOS at a crypto exchange
- Buy EOS with PayPal
- Buy EOS with Skrill and Neteller
The prominence and vast acceptance of Bitcoin led to the creation of so many altcoins of which EOS is a part of. We will be taking a look at this amazing virtual coin shortly.
What Is EOS?
The prominent EOS Cryptocurrency is a decentralized operating network that is based on Blockchain innovation. It was built to back up decentralized apps that are situated on a commercial level.
It functions by providing all the desired core operations. And, this enables businesses and organizations alike to build Blockchain apps in a way that they remain exactly like the applications that are based on the web.
However, this Blockchain network claims to disrupt transaction fees and execute thousands if not millions of transactions within seconds. It has a token, which is known as the EOS token.
EOS Cryptocurrency has some major yet prominent technical designs like:
- 100000+ TPS (potential)
- Zero transactional cost
- Ability to alter encryptions
- DPoS consensus, etc
EOS was at the centre of much attention due to its year-long ICO and the staggering amount of about $4.2 billion (source).
Currently, EOS is rated as the fifth prominent digital currency in the globe according to market capitalization.
Some intriguing benefits EOS offers to its users include:
EOS aims to provide a decentralized platform for hosting other applications, application of smart contracts, and the utilization of Blockchain technology for organizations.
The Cryptocurrency also has the hopes of resolving stability problems that have continuously plagued the more popular virtual currencies like Ethereum and Bitcoin.
Elimination of transaction fees
Using a delegated PoS, i.e., Proof of Stake of the consensus protocol, EOS will completely eliminate the regular fees charged before transactions are executed.
With plans to be multi-threaded i.e, it will be functioning easily on diverse computer cores; the currency hopes to achieve its plan of eliminating transaction fees.
One of the key targets of EOS is to be the first operating network to be decentralized basically.
The EOSIO provides a perfect advancement environment for decentralized apps like BitShare. This is a platform that enables the decentralized exchange of virtual currencies and Steemit, a social networking platform with monetary rewards.
Moreover, the EOSIO platform will be dropping its vote for about twenty-one block generators during its launching period. And, this will further validate and generate blocks within the block time frame of 500ms.
Where To Buy EOS
Most people are usually confused on where to buy EOS and even How to buy EOS. EOS virtual coin is currently listed on diverse trading exchanges all over the globe for trading.
It has been paired with some key digital currencies such as Binance, Ethereum, Bitcoin, and USDT.
USDT is a professional for EOS users because it allows them to purchase EOS while using their current Bitcoin, Ethereum, and all other prominent virtual currencies.
Some of the Cryptocurrency exchanges and crypto broker sites where you can easily purchase or trade EOS include:
Wondering how to buy EOS, well, here it is:
1 ) Choose an EOS wallet
There are diverse wallets that are capable of holding EOS tokens. If you need a quick head start, then you can make use of the desktop wallet. Nonetheless, always have it in mind that wallets like this are not so secure.
However, for maximum security, you should make use of a hardware wallet such as the Ledger Nano X. Immediately you get your wallet, the next step is to get an address. Getting this address is for the sake of sending your tokens to it.
Note that the EOS address is actually a long string of characters that begin with nothing else but the letters ox.
2 ) Find an Exchange or Broker site
We have highlighted some of the best-known crypto exchanges that you can make use of in purchasing EOS. These exchanges will allow you to purchase EOS tokens with Fiat currency or via exchanging with Ethereum or Bitcoin to EOS.
3 ) Send your EOS to an EOS wallet address
It is important that you don’t just leave your EOS coins on an exchange.
It is too risky!
You should secure your EOS in a wallet where you own the private keys to. Learn more about how to pick a good crypto wallet here.
Buy EOS With a Credit Card or Debit Card
If you want to buy EOS with your credit card from some other changes, you will have to, first of all, buy bitcoin or Ethereum from a Fiat exchange. Next is to send it down to a secondary exchange where EOS is being traded on Bitcoin and ether pairs.
How to Buy EOS On CoinBase with your credit card or debit card
The popular CoinBase is a top leading crypto exchange that has been successfully made available in about one hundred and three countries all over the globe. You can put your EOS token on CoinBase with the aid of two methods. They include:
- Buying EOS straight from CoinBase via a brokerage service. This is actually a very fast and simple technique with comparatively high fees.
- You can buy EOS with your credit card or debit card at Coinbase
1 ) Creating a CoinBase account
To create your CoinBase account, you can select the signup tab and fill the form by inputting all of the requested information. It comprises your name, email, password, your location, etc.
2 ) Verification of your account
You are to verify your account by uploading an image of yourself. Then you need to add your card by linking your credit card or debit card
3 ) Buy or sell option
Then when your card has been added to your Coinbase account you can move on to buying EOS!
4 ) Confirming the purchase
You will click on the confirm buy button that will be made available to you. The next step to follow is to open an account on any exchange to switch for EOS.
5 ) Send your EOS to your wallet
Finally to make sure you are protecting your EOS you should send them to a wallet where you own the private keys to. Leaving them on an exchange means you don’t!
Here’s how you can buy EOS with Wire Transfer / Bank Transfer
To buy EOS at either Kraken or Coinbase follow our step by step guide below:
- First, go to Kraken or Coinbase and sign up
- Provide them with your details (ID, personal details) and add your bank account details
- Initiate the bank transfer deposit to your account
- After the deposit has been made you need to wait usually between 1-2 days for the funds to arrive in your account
- Then when that’s done you can buy EOS directly from there
- Now you have EOS and you should send them to a wallet where you own the private keys to
Buy EOS at a cryptocurrency exchange
When it comes to buying altcoins people usually use a crypto exchange to buy them. That means that you first need to buy another cryptocurrency like BTC or ETH. And then with those BTC or ETHs, you can buy EOS.
Here are some good examples of exchanges that trade EOS with good trading volume:
Buying EOS with PayPal
So the steps to buying EOS with PayPal are the following:
- First, you go to either LocalBitcoins to buy Bitcoin, or LocalCryptos to buy Bitcoin or Ether with your PayPal balance
- Then you send those BTC/ETH to a crypto exchange that trades EOS, like Binance
- Then you can buy EOS at Binance using your BTC/ETH
- Then send your EOS to a good EOS wallet
And for Buying EOS With Skrill And Neteller
As expected, open an account with Bitpanda and purchase either Bitcoin or ether. When you are done purchasing any of your choices, you will have to send the coin to any of the exchanges we have listed above.
However, Bitpanda is made available only in European countries. You will have to check if your country is being supported first.
Where to store your EOS coins
To properly secure your EOS coins you should store them in a safe wallet in which only you own the private keys to.
You can also store them on a Ledger wallet, learn more about it here.
We hope that by now you feel very comfortable knowing the process of how to buy EOS coin. And what the available options are. If you are still unsure about anything please feel free to leave a comment below.
EOS’s market capitalization has ranked the currency in the fifth position. This could likely be due to its $10.9 billion market capitalization in June 2018. There is an overall amount of nine hundred million EOS in circulation.
Find other guides on buying cryptocurrencies
Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier