How to buy EOS - Tutorial
EOS is an open-source block chain protocol with which not only transactions take place on the block chain, but entire applications can be executed on the block chain. We show you here where you can buy EOS and what you have to consider.
In order to finance the EOS project, the company behind EOS, Block.one, carried out a 1 year ICO. During this process, Ethereum was collected to the value of more than 4 billion US dollars. This money will now be used to further develop the EOS platform. EOS differs significantly from other block chain solutions, because EOS is a kind of Super Computer on the block chain, on which so-called DApps (decentralized applications) can be executed, which go far beyond what is currently possible with Ethereum.
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EOS was initiated by the company Block.One. Behind it are Brendan Blumer and Daniel Larimer. Especially Daniel Larimer is no stranger in the crypto scene. He already created BitShares and Steemit before. Presumably they succeeded to collect therefore also the legendary sum of over 4 billion US dollar around the project further to finance.
The special thing about EOS is that blocks can be generated very quickly. This is why transactions are usually confirmed within 3 seconds. This is also necessary in order to execute complex applications on the block chain without time delay: Bitcoin generates a new block only every 10 minutes, Ethereum generates a new block every 15 seconds.
Another positive aspect is that EOS does not use energy-intensive mining. Instead, EOS relies on the so-called Delegates Proof-of-Stake algorithm. In this algorithm, 21 selected block producers generate new blocks every second and thus also confirm the transactions.
Buy EOS with Euro - Summary
- 2. Verify Yourself on the Platform
- 3. Deposit (at least $200) e.g. via PayPal, Credit Card or Wire Transfer
- 4. Now you can buy EOS directly
EOS Buying Guide
Where can you buy EOS?
Anyone wishing to buy EOS must register with crypto exchanges (also known as Exchanges). However, you should make sure that the crypto exchange also trades EOS for euros. Not every exchange allows you to buy EOS for Euros. At the world’s largest crypto exchange, Binance, for example, all crypto currencies are only traded against other crypto currencies.
Apart from the possibility of depositing euros, you should also pay attention to how you can deposit the euros. Some crypto exchanges only give you the possibility to transfer Euro credits to the exchange. Since transfers are however very slow, it can partly take a few days until the assets arrive. Faster is it if you can pay in the credits by credit card or PayPal at the respective crypto exchange. eToro for example gives you this possibility.
How to Buy EOS
The easiest way to buy EOS is at eToro. There you can choose between different payment methods (PayPal, credit card and instant bank transfer) as well as an easy to use platform with German support. At eToro you buy real crypto currencies which you can also withdraw with the eToro wallet.
- Regulated Platform
- Good Support
- Large selection of crypto currencies
- Payment also via Paypal and credit card
- eToro app for smartphone and tablet
- New eToro wallet app available
- Cryptocurrencies remain a risky investment
eToro offers one of the easiest ways to enter EOS trading with its user-friendly design. This makes it a platform of particular value for all investors who want to buy or sell EOS.
Buy cryptocurrencies with eToro in 3 easy steps
Step 1: Registration
To trade on eToro you first need to log in to the platform. But this can be done without any problems. All you have to do is enter your name, email address and a password. After that you will get access to the eToro dashboard.
As eToro crypto currencies are traded against Euro you also need to verify your identity on the platform.
Step 2: The verification
To trade on eToro you first need to log in to the platform. But this can be done without any problems. All you have to do is enter your name, email address and a password. After that you will get access to the eToro dashboard.
Once you have opened your account you will need to verify your identity with eToro. You will need to leave your personal data and upload a photo of your passport or ID card. This process is required by European law for all platforms trading crypto currencies against Euro.
If you have provided all the information, the verification can still take a few days. It is advisable to make the deposit during this time, as you will be preferred during the verification process. But don’t worry, if something goes wrong during verification, you will get your money back. We have never experienced this kind of problem before.
As soon as the verification is complete you will be notified by email. If you have already made the deposit at this point, you can start trading immediately.
Step 3: Buy & Sell
Buying and selling EOS at eToro is then quite simple. All you have to do is select EOS and click on “trade”.
Afterwards a window appears where you can buy EOS. All you have to do is indicate how many Euros or US Dollars you want to invest in EOS. Furthermore, you have the possibility to set a stop loss, trade with a lever or enter a profit target.
With a Stop Loss you can determine at which loss your EOS should be sold automatically, so that further losses can be reduced if the price falls strongly. We would not recommend trading with a leverage because it is very risky. Therefore, the lever should always be X1, then you buy real EOS. You don’t need to specify the profit target either, because you can always close the trade manually if you have made enough profit.
When you have entered everything you only have to click on “Buy”. The trade will be executed immediately and you will see your newly acquired EOS in your portfolio.
Withdraw cryptocurrencies with the eToro Wallet
In 2018 eToro introduced the so-called eToro Wallet. This is available for both Android and iOS. Now you can also use it to withdraw your crypto credits from eToro. All you have to do is install the wallet on your smartphone. You can then login to the wallet with your normal eToro login.
What payment methods are available to buy EOS
Buying EOS - The Most Important Payment Methods
Buy EOS with Credit Card
Credit cards are convenient and payment is available immediately!
Many people like to buy crypto currencies by credit card. This is usually because credit card payments are immediately available and buyers do not have to wait for the deposit to arrive.
Unfortunately, not all exchanges support credit card purchases or charge very high fees for them. This is different with eToro. You can simply top up your credit card balance and start trading immediately. So you can also buy EOS there immediately by credit card.
Buy EOS with Paypal
Paypal has the advantage that you will be credited immediately and you have the buyer protection.
Only very few crypto exchanges allow you to buy crypto currencies via PayPal. You profit with PayPal particularly by the buyer protection. One exchange which I allow you to buy via PayPal is eToro.
You can simply fund your eToro account via PayPal and then you can start trading and buy Cardano. This makes eToro the big exception compared to other crypto exchanges.
Buy EOS via Wire Transfer
Another way to deposit money into your account in order to buy cryptocurrencies is via wire transfer. You don’t pay any fees in order to deposit money. However the disadvantage is that it can take up to 2 business days until your money is finally in your account. If you want to avoid that you can use Rapid Transfer for instant wire transfers. If you are using eToro you can choose if you want to do a regular wire transfer or a Rapid Transfer.
Should I buy EOS now?
Nobody knows when is the right time to buy EOS. The fact is, however, that development at EOS is still in its infancy. It will be important for EOS that many DApps (Decentralized Applications) succeed in the long term. With the social network Voice.com, Block.One itself has a project at the start with which it hopes to win as many users as possible.
If we succeed in establishing these decentralized applications at EOS, the value of EOS will also develop very positively. But nobody can say for sure whether this will succeed. The fact is, however, that the EOS block chain can already do much more than Bitcoin, Ethereum or other block chain variants.
Pro und Contra EOS Investment
- EOS is still at the beginning of its development
- Technologically superior to Bitcoin
- Recognized cryptocurrency
- EOS allows free transactions
- Investments in crypto currencies are highly speculative
Is the technology the purchase argument for EOS
EOS is superior to other crypto currencies in many respects. There is no energy-intensive mining because EOS relies on delegated proof-of-stake and transactions at EOS are free of charge.
The points mentioned above also make EOS much more scalable than other crypto currencies. There is therefore no limit, as with Bitcoin and Ethereum, that no more than 15 transactions per second can take place. However, it is currently uncertain whether all this is sufficient to be more successful than Bitcoin in the long term. In any case, EOS is an interesting alternative.
Invest in EOS or not?
You have to decide for yourself whether you should invest in EOS. In any case, it should be noted that EOS is a legitimate project and has an interesting technological approach. It is not for nothing that EOS is one of the 10 largest crypto currencies worldwide. But nobody can say at the moment whether this will suffice in the long term.
Store EOS in your own wallet
When you buy EOS, you can either leave them on the stock exchange (eToro, Binance etc.) or store them on your own wallet (depending on where you bought them). Basically there are 3 types of wallet that you can use to store EOS. These are paper wallets, software wallets and hardware wallets.
With the so-called Paper Wallets you simply write your Private Key on a piece of paper. With this private key you then have access to your credit balance. If you lose the sheet of paper or it is stolen, of course your credit will be lost. For normal investors Paper Wallets are not really practical.
Much better are the software wallets. You install it on your desktop computer or smartphone and can manage your assets. With a so-called recovery phrase (usually consisting of 24 words) you can restore your credit if you lose the device. If you want to use a software wallet, we recommend the Scatter Wallet. This is available for all common platforms.
The safest storage for your EOS is the Hardware Wallet. The market leader for hardware wallets is the French company Ledger. We recommend to use either the Ledger Nano S or the Ledger Nano X. Your private keys always remain on the wallet and cannot be stolen. Even if you lose the hardware wallet, you can still recover the credit via the recovery phrase. Of course the ledger also supports the storage of EOS. To store EOS on the ledger you also need either the Fairy Wallet or the Scatter Wallet.
Conclusion
Technically EOS is clearly superior to most other crypto currencies and platforms. More transactions can be carried out and even much more complex decentralized applications can be executed on the EOS block chain. However, it is not clear at the moment whether this will be enough for EOS to become established in the long term. But the EOS platform is definitely exciting.
The easiest way to buy EOS is to buy it from eToro. There you can not only buy EOS for Euro but you also have several options to make the purchase (credit card, PayPal, instant bank transfer and money transfer).
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EOS Price and Price Development
Here you can find the current EOS price and see how the price has developed.
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