Cryptocurrency trading is one of the newest things out there, and plenty of people are making a good living out of it.
Many others are holding cryptocurrencies either in hope of their tokens' values to go up dramatically or because they firmly believe in the future of digital currency as a means of trade.
But there are a lot of different cryptocurrencies out there; over two thousand and counting. Many of these cryptocurrencies are linked to a particular blockchain-based service or project.
Let's say you've done your research into these blockchains and crypto tokens and like the EOS ecosystem. Now you want to buy some tokens and are wondering where and how to buy EOS. Read on to find out.
Before Buying EOS
Just like with any other cryptocurrency, you're going to need somewhere to store it: an EOS wallet and account. If you're going to keep your EOS stored on a centralized exchange, the service will provide you with a wallet address.
However, as always, it's better if you have your wallet address.
With many cryptos, getting a wallet is as simple as installing software on your computer or smartphone, following some simple steps, writing down a passphrase, and that's it! You get your address for free.
Things are a little bit trickier in the case of EOS wallet addresses.
There are guides you can follow, but it typically includes creating your user-readable address (unlike the long, complex strings of letters and numbers we see on other blockchains), generating a pair of keys, and finally buying some network resources.
Yes, EOS wallets don't generally come for free. You usually have to pay 1-2 USD to get one. But after that, there are no transaction fees.
There are some apps and services built on the EOS blockchain that offer free addresses from time to time, so be sure to check that out.
Let's assume you already have your wallet address ready to go and move on.
Where to Buy EOS – Top 5 Exchanges
EOS isn't some obscure, newly-created token. It consistently ranks in the top 10 cryptocurrencies (out of over 2500) according to market capitalization: According to cmc.io, there has been a trading volume of just over 3.3 billion USD worth of EOS in the last 24 hours as of writing this article.
That means there are quite a few different exchanges where you can buy/sell/trade EOS. So how do you choose one?
One thing you have to take into consideration is how you want to pay for your EOS tokens. Do you want to buy EOS with a credit card? Maybe a bank transfer? Or perhaps you already own some other crypto tokens and would like to pay with those.
The first two cases are fiat-to-EOS transactions, while the last one is crypto-to-EOS.
This can be a major factor in choosing your exchange, as not all of them offer all options. But, in general, the process is the same: first, you create an account on the exchange, then add funds to the account and, finally, buy your EOS.
Let's have a glance at the top five places to buy EOS:
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Any of the exchanges listed above, as well as many others, are excellent places where you can buy EOS. Because of its simplicity and the number of coins available for purchase, we'll give you step-by-step instructions for purchasing EOS on Coinswitch.
A Step-by-Step Guide on How to Buy EOS on Coinswitch
Coinswitch is a cryptocurrency exchange aggregator, meaning that the transactions don't happen on Coinswitch itself. Instead, they link you to many other exchanges and help you find the best deal for your money.
Being decentralized, they won't provide you with wallets to hold your tokens, and you'll have to use your own. You won't even have to create an account on any exchange.
Let's suppose you want to buy 150 USD worth of EOS. Here's the step-by-step:
Head over to the coinswitch.co website
From the left-hand drop-down menu, select the currency you want to spend (USD) and type in the amount you want to spend (150). Then, from the right-hand drop-down menu, select the currency you wish to receive (EOS).
You will get an estimate of how much EOS you'll get. Click “View all offers.”
Here Coinswitch will present a list of the different exchanges you can make the actual purchase. You can go ahead and click on the recommended one.
From this screen, click on “Pay with Visa/Mastercard” and then proceed to the payment page. Make your payment, and that's it! Your transaction will be completed in minutes, and you will be receiving your EOS soon after.
Best wallets to hold EOS
|Ledger Nano S||Rating: |
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More information about EOS [FAQs]
What is EOS?
To put it simply, EOS is the cryptocurrency that powers the EOS.IO blockchain. EOS.IO was launched in 2018 and is a smart-contract-capable blockchain that seeks to do away with transaction fees and be capable of performing millions if almost instantaneous transactions per second.
EOS.IO uses a type of consensus algorithm called Delegated Proof of Stake (DPoS), in which the blockchain governance is decided democratically by votes issued by EOS token holders. So, if you own some EOS, you can cast votes that choose how the blockchain works.
Is EOS a good investment?
The success of EOS as an investment depends a lot on the success of the EOS.IO blockchain. EOS.IO seeks to offer a capacity of thousands of transactions per second with no transaction fees, so it's a promising platform for decentralized application (dApp) developers.
With some fine dApps already in the ecosystem, the future looks promising. EOS is currently valued at 2.61 USD, and many price prediction algorithms estimate that it could go as high as 100 USD within a year or two. So EOS does seem to be a good investment in the long run.
EOS is one of the top cryptocurrencies on the market today, and the EOS.IO blockchain is an increasingly popular platform for developing and deploying dApps. Though not without its technical issues, the EOS ecosystem contains many excellent and enjoyable apps.
Now you know where to buy EOS, whether you want to buy EOS with a credit card, bank or wire transfer or using some crypto tokens you already own. Go ahead, buy some EOS, explore the ecosystem, and enjoy the ride.