How to Buy EOS in a Few Easy Steps
1. What is EOS
4. EOS wallet
5. EOS account
6. EOS price
7. EOS stock
EOS Coin is a new cryptocurrency that was released by Block.one on January 31st, 2018. Since its creation, it has generated a lot of interest in those looking for low-risk alternatives to Bitcoin and Ethereum. Many people looking to invest in this new cryptocurrency will undoubtedly be newbies or experienced investors who don’t know a lot about EOS. That’s why we’ve written this brief guide on purchasing it! Once you get through this article, you will have a better understanding of what makes this new cryptocurrency special, and why it is such a great investment opportunity.
EOS.IO software is unique because it has successfully overcome the deficiencies of other coins like Bitcoin and Etherium. The best and most innovative feature is the speed at which you can do your transactions. Here, your trades can be done almost instantly because this new platform has been clocked as high as 3,000 TPS! On other platforms, transactions can last from several minutes to several hours. The speed at which the process is completed is the best feature in the minds of many veteran crypto investors.
No transaction fees
Another great feature of EOS is that it does not charge users fees. Instead, what you do is buy a stake in the company and purchase RAM, which is how Block.one keeps everything running. It’s almost like a play-to-play scheme!
When you get involved in something, whether it is a new cryptocurrency or a sports league, you want it to be governed by transparent and understandable rules. EOS operates on governing principles that every person using it agrees on, and the rules can be seen on every block that is mined.
EOS is also a very secure coin. As some readers probably already know, Ethereum experienced a big cyber attack in 2016, which resulted in the company losing $50 million. This happened because Ethereum was using the code from an older blockchain. The EOS blockchain uses Delegated-Proof-of-Stake (DPoS) to prevent such things from happening. DPoS works by detecting faults in the system and, if any are found, the block producers are frozen until the issue if fixed.
This new blockchain is also more usable because it functions like an operating system; it is a ready-to-use platform that allows developers to use an authentication system. Also, the owners of user accounts are able to share their database access and store their data on local machines. Last but not least, developers can build applications on the platforms so long as they own some tokens.
There are many other things that make this new blockchain such a viable investment, but the bottom line is that these innovative features and benefits give this new coin a lot of potential. If you put your money in this new coin now, you could reap a lot of benefits.
We would be lying to you if we said that this coin had no drawbacks; in fact, it does. It has several competitors out there, like Ethereum, Rchain, and NEO. If people decide to switch their investments over to these blockchains, it could cause the price of EOS to crash at an inopportune time. However, these are acceptable risks, and they should not discourage you from putting money in it.
The EOS token white paper is a fully comprehensive document that addresses the problems with the other platforms we’ve already talked about, citing their slow transaction and verification speeds and lack of usability. EOS has solved these problems by making a platform that is designed to accommodate experienced and novice users who need faster transaction and verification speeds and a straight-forward user interface.
There are a lot of wallets available that can be used for storing EOS tokens, including Atomic Wallet, SimplEOS, and Scatter. In order to make sure a wallet is worth using, it should have the following features:
Read the user manual of the wallet you are interested in to find out whether it can support mainnet EOS. You don’t want to jump into something and realize that it will not hold the coin you want.
Any product, whether it is related to cryptocurrency or something else, should come with customer support. Be sure that the wallet has a knowledgeable and responsive customer service team. If the wallet does not offer these services, avoid it. It is likely to be a poor product, and it might even be a scam designed to steal your crypto.
Be sure that your wallet allows you to control your keys at all times. Keys are needed to send and receive funds. Never use a wallet that allows someone else to retain control over your keys. If that person disappears with your keys, he or she will disappear with your coins!
Find out what security features your wallet has so that it is harder for it to be hacked by cybercriminals. It should have features such as two-factor authentication and encryption. If the wallet does not use features like these, it is vulnerable to hackers.
Read the reviews for the wallet you are interested in to see what experience previous users of this product have had. Reddit and a lot of other forums have a load of great comments, dialogues, and articles about wallets. Armed with this info, you will no doubt be able to find the product that fits your needs.
In order to use EOS, you’ve got to create an account before you can start conducting any transactions on their system. The account can be created by the user, or it can be auto-generated by EOS. Once the account is created, it will be stored on the blockchain. Depending on the configuration of the permissions, the account can be owned by either a person or several people, such as your buddies, family members, and business partners. In order to create an account, at least 1.6 EOS must first be purchased, and more can be added at the user’s discretion.
Last year, the value of EOS to USD went all the way up to $21.27 per coin. In April, however, the price fell until it reached $1.85 per coin in December. But, since then, the “bear” has retreated into its den, and now the bulls are tromping onto the pasture. EOS has rallied to $5.45 per coin, and it is steadily climbing in value after being in a bear market for the past several months. Now is the time to start buying, so be sure to strike while the iron is still hot!
EOS cryptocurrency has the potential to be a relatively low-risk, low yield investment. Unlike Bitcoin and Ethereum, large amounts of EOS crypto can be purchased without having to commit hundreds or thousands of dollars to the investment. At around $5.50 per coin, you will be able to buy a lot of tokens, and there is a chance that the investment might go up in value somewhat.
EOS is not only unique because of the speed of its transactions but because its coins cannot be mined. The tokens are obtained by investment, making the approach to buying crypto on this platform similar to buying shares in the stock market. This feature should make EOS an attractive cryptocurrency to investors who are used to trading on the stock market.
As we previously mentioned, if you want to withdraw, you first have to create an account. After that, you can start taking out your EOS. Log into the account using your account name and make the withdrawal. Once this process is completed, you can check if the EOS is in your account using a block explorer. If it is in your account, you can then do whatever you want with it.
Being user-friendly, fast, and secure investment, EOS is a great alternative to Ethereum, Bitcoin, and other high-priced, high-risk cryptocurrencies. It also provides developers with all the tools they need to use the platform without having to worry about cryptography or the blockchain.
This article is not meant to be investment advice.