EOS is the token offering of EOS.io, a platform that was created in June 2018 to help developers learn how to build decentralized applications on a simple platform (DApps). A DApp is a computer program that operates through a distributed network of computer nodes rather than a single, centralized point of operation.
EOS.io’s mission is straightforward: to make it as easy as possible for developers and programmers to construct DApps that use blockchain technology. You might think of EOS.io as a Windows-like operating system, with the EOS coin representing a stake in the network and allowing users to run their apps.
EOS.io’s creators have focused on delivering a variety of educational resources as well as a simple platform that makes it easier to use than competitors. EOS also intends to apply blockchain technology to corporate infrastructure. Developers prioritize scalability by focusing on quicker transaction rates and more transfers initiated per second.
How to buy EOS
Open an online account
Opening an account with a crypto broker that offers access to the coins and tokens you’d like to add to your portfolio is the simplest way to buy any form of cryptocurrency. Crypto brokers operate in a fairly simple manner.
To begin, you’ll need to link a payment method – depending on the broker, you may be able to buy cryptocurrencies with a debit or credit card, a bank transfer, or a service like PayPal. You’ll then use your broker’s trading platform to place an order. According to the instructions in the order you put, your broker will purchase or sell the cryptocurrency of your choice.
In terms of overall market capitalization, EOS is now the 16th largest cryptocurrency. This implies you’ll have a few options when it comes to choosing a broker to execute your trades with.
Buy a wallet
It’s a smart idea to open a secret wallet to keep your coins and tokens after you’ve decided where you want to buy and sell your cryptocurrencies. A cryptocurrency wallet is a computer application or device that stores your coins using a private set of keys. Cryptocurrency wallets keep your coins and tokens safer than on-exchange wallets by reducing the risk of losing your funds due to a hack or exchange theft.
Hardware and software are the two main forms of crypto wallets. Software wallets must be linked to the internet to access your investments, whereas hardware wallets are actual devices that hold your cryptocurrencies offline.
Both types of wallets have advantages and disadvantages. Software wallets, for example, are free but do not give the same level of protection as hardware wallets.
Make your purchase
You’re finally ready to make your purchase once you’ve financed your account and decided how you want to store your coins. Begin by deciding how much money you want to put into EOS and calculating how many coins you can buy based on the current market rate. Before you submit your purchase order, you might want to keep an eye on how costs are changing to ensure that you’re getting the most bang for your buck.
Your broker will execute your order after you place it using the trading portal of your broker. You’ll see your EOS in your brokerage account once your order is filled. To get your coins into your private wallet, look up your wallet address and make a transfer from your brokerage account to it.
Before you start the transfer, double-check that you have the proper address; it’s nearly impossible to get your cryptocurrency back if you send it to the wrong wallet address.
The EOS public blockchain recently revealed that it is in the process of adding Google Cloud as a Block Producer Candidate, implying that the technology of EOS would be implemented more widely.
Best Cryptocurrency Platforms For EOS Token
The greatest trading platform for you may differ from the best trading platform for someone else, depending on your needs as an investor. If you’re in the United States, using a US-based crypto exchange like Coinbase or Gemini is a fantastic choice. Coinbase’s Coinbase Learn program allows users to earn free cryptocurrency, and Gemini offers interest-bearing accounts for passively growing your digital asset holdings.
If you’re looking for a long-term investment, iTrustCapital is a wonderful choice. When compared to a regular brokerage account, iTrustCapital is an investment retirement account that offers significant tax savings. While EOS is not available on the platform, you can invest in popular cryptocurrencies such as Bitcoin and Ethereum.
