How to Buy EOS – Complete guide

buy eos coin

 

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.

5 Quick Steps to decide where to Buy EOS

  • Choose a regulated and popular EOS coin broker such as eToro
  • Sign up today to become a fully-fledged eToro member
  • Complete your account verification and select your preferred payment method to buy EOS
  • Place a CFD order to buy EOS online with eToro
  • Sit back and watch your investments improve over the long-term!

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?

etoro logoWondering what the best exchange to buy 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 EOS coin broker or exchange:

eToro Plus500 Binance
FCA regulated X X
CySEC regulated X
Multiple payment methods
Wallet? X X
Social community? X X
Trading tools?
Stocks & commodities available? X

A comparison of the top three EOS brokers

eToro

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

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, it’s a very popular platform. Like eToro, Plus500 is CySEC regulated, but unlike eToro, it is not regulated by the UK’s Financial Conduct Authority (FCA). Find out how to set up a Plus500 account here.

Binance

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.

PayPal

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

Faucets

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

EOS Price Remains Bullish Despite Token Hack

EOS Lowers Fees as Its Assault on Ethereum Continues

Buy EOS Coin FAQs

Which hardware crypto wallets are compatible with EOS coin?
The EOS platform exclusively supports the R1 elliptic curve. Subsequently, all owners of Apple devices (iMac Pro, MacBook Pro, iPhone and iPad) can use these as their own biometric hardware wallet for housing EOS tokens securely. The R1 elliptic curve will also be able to assist Android and smart card device owners too. The developers of the EOS platform, Block.one, have no concrete plans to build their own hardware wallet at the time of writing.
Can I transfer EOS ERC-20 tokens?
Unfortunately, this is not an option. Since 2nd June 2018, 22:00:00 UTC, all EOS ERC-20 tokens were considered ‘fixed’ to the Ethereum blockchain and cannot be transferred.
Can I download an EOS wallet?
There is no official EOS wallet for both consumers and developers to use to buy EOS coin and store it. A command line wallet is available to developers, but as yet, there is no graphical interface for it. The platform’s founders do not officially endorse these projects, however, so those wishing to invest in EOS should use any new interfaces at their own risk.
Who are the founders of the EOS platform?
Dan Larimer, who is now the CTO of EOS, was the brainchild behind the EOS platform. The founder behind the concept of Decentralised Autonomous Organisation (DAO) and the Proof of Stake Governance, Larimer’s self-confessed life goal is to “find free market solutions to secure life, liberty and property for all”. Meanwhile, current CEO Brendan Blumer has been working within blockchain technology since 2014 and is already named on the Forbes Crypto Rich List.
Which consensus mechanism does EOS use?
The EOS platform uses the only proven decentralised consensus algorithm for overseeing applications on the blockchain: Delegated Proof of Stake (DPOS). Those who own EOS tokens on a blockchain adopting EOS software can choose block producers via a continuous approval voting system.