How to Trade EOS – Complete guide
Ethernet over Sonnet (EOS) is one of the most talked about alternative cryptocurrencies in 2018. This innovative blockchain-based platform was founded by Dan Larimer, an individual who has had his hand in the crypto space with the founding of Bitshares and Steemit. Although, on the surface, EOS may appear something like Ethereum, with its heavy focus on decentralised applications (dApps), the appeal of EOS is that it aims to be more scalable than Ethereum.
The EOS token is the native cryptocurrency of the EOS network and is used to power the platform and provide sufficient resources for all kinds of dApps. If you are wondering where to buy EOS coin, we’ve done the legwork for you by researching and testing the best cryptocurrency brokers and exchanges that allow you to invest in EOS with ease.
Why buy EOS now?
There are many technological benefits when it comes to the emerging EOS coin. As we’ve already discussed, EOS attempts to provide a decentralised, flexible landscape for software developers. In fact, it attempts to build a decentralised platform on the whole – implementing smart contracts and utilising blockchain technology to put an end to the problems of scalability felt by the original cryptocurrencies such as Bitcoin and Ethereum.
Ultimately, EOS is driven to become the very first operating system to be wholly decentralised. The ambition of the EOS network has helped create a vibrant and worldwide community of investors and developers alike – all of whom are confident in the approach of a decentralised platform that is free to use. The EOS platform does not require tiny payments by end users to use dApps and complete actions on the EOS blockchain. dApp developers can set their own transaction fees, but the EOS community has already put a ceiling on how big these fees can be; putting the power firmly in the hands of the end user.
In terms of market capitalisation, EOS is now the fifth-largest in the cryptocurrency space. Although the price of EOS has plummeted since peaking at £15 per EOS coin in April 2018, EOS has a strong base to work from. It is, therefore, a great opportunity to invest in EOS now and look forward with confidence to the long-term growth of EOS coin and its platform.
What is the best site to buy EOS coin?
Wondering what the best exchange to trade EOS coin is? We recently conducted thorough research into where to buy EOS coin. We’ve since highlighted the top three brokers and exchanges based on their reputation, reliability and intuitiveness. Check out our comparison table below for a clear understanding of the pros and cons of each:
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A broker comparison
eToro is one of the fastest-growing online communities for trading cryptocurrencies such as EOS coin. As the world’s leading social trading community, eToro has an active user base of more than six million people. When you use eToro, you never have to physically own or store your EOS coin. Instead, eToro acts as a contracts for difference (CFD) broker, allowing users to place ‘buy’ and ‘sell’ orders based on whether they think the price of EOS will rise (buy) or fall (sell). Find out how to set up an eToro account here.
Plus500 gives eToro a run for its money in the CFD cryptocurrency stakes. As a global CFD broker, offering multiple cryptocurrencies, thousands of securities and asset classes and other underlying products, not the instruments themselves, it’s a very popular platform. Like eToro, Plus500 is CySEC regulated, and is regulated by the UK’s Financial Conduct Authority (FCA). Find out how to set up a Plus500 account here.
”80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.”`
Binance is the odd one out here as it is not a CFD broker. Instead, it is a fully-fledged cryptocurrency exchange. Users can buy and sell all types of cryptocurrency through Binance, including EOS tokens. However, you will need to have a secure cryptocurrency wallet that you are happy to transfer your digital assets to for safe keeping. Binance has its own official wallet called Trust Wallet. Find out how to set up a Binance account here.
Our expert opinion: Invest in eToro due to the following reasons
- If you are a newcomer to buying and selling cryptocurrencies, eToro members can join the CryptoFund, allowing users to follow investment strategies in EOS and other altcoins by traders that are profitable over the long-term.
- As shown in this eToro review, it remains the only CFD cryptocurrency broker to be regulated by the FCA and CySEC.
- A worldwide user base of six million-plus users – and rising.
- No need to create and secure a cryptocurrency wallet for storing your EOS coin. When you sign up to eToro you can trade the price action of EOS immediately.
Looking to buy EOS coin? Payment methods
Credit card & debit card
You can use credit cards to buy EOS coin with some crypto exchanges. The likes of Changelly and CEX.IO permit this. The former allows both credit and debit card deposits. However, our preferred way to buy EOS coin, eToro, also allows for both types of card deposits up to $20,000 per deposit.
Unfortunately, it is not possible to use a PayPal account to buy EOS coin online directly. If you do want to deposit funds using a PayPal account, sign up to eToro to take advantage of their PayPal deposits. The e-wallet is an accepted payment method with the world’s leading social trading community.
How to buy EOS in your country
If you are looking for the best exchange to buy EOS in your country, it will usually depend on your country’s approach to the cryptocurrency industry. Some nations have taken a dim view of digital assets, while others have welcomed them with open arms. The UK, for examples, is quickly catching on to the popularity of cryptocurrencies and the government has even trialled their use in official capacities.
How to store EOS coin in a wallet
It is an unfortunate truth that most software cryptocurrency wallets have unwanted security risks. Cyber-criminals have often managed to compromise these web-based wallets, resulting in a string of high-profile crypto thefts. It would be far better to use a hardware wallet to store EOS coins offline. Nevertheless, you can avoid the stress of keeping your EOS tokens secure by simply trading the price of EOS via a CFD broker like eToro.
Other ways to get EOS coin
EOS faucets are somewhat rare in the crypto space. However, there are some platforms that permit users to earn small amounts of EOS tokens by completing captchas, surveys and downloading specified applications.
If you are buying EOS coin in the near future, we highly recommend eToro as the best starting point. It is safe, well-regulated and makes it easy for beginners to CFD trading to get up to speed and make money from investing in EOS coin.
Extra EOS Resources and News