If you want to purchase EOS Coin, we are here to guide you through the purchase protocol and locations guaranteed as trusted sellers. While making an investment, individuals research where their money is going, how the process works, and other factors — the same is the case with crypto such as EOS Coin. Read this article to learn everything you need to know about where to buy EOS Coin and other salient information:
- What is EOS?
- How does EOS coin work?
- What makes EOS stand out?
- The EOS economy & its use cases
- Where to buy EOS coin from?
- How can you buy EOS coin?
What is EOS?
EOS is an entirely decentralized blockchain-based network that allows the development, hosting, and implementation of the broad scaled decentralized apps.
In June 2018, a platform, EOS.io, was launched to aid in bringing developers to a more straightforward platform for developing decentralized apps. A DApp is a computer application with a vast network of operations across distributed computer nodes rather than a single centralized point of the process. A single server does not control these apps; it has multiple servers.
The EOS.io aims to make it as easy as possible for app developers to create decentralized apps that use blockchain technology. Take EOS.io as an operating network, just like Windows. EOS coins, on the other hand, represent a stake in the network and allow users to run programs.
EOS developers are focused on providing plenty of educational resources and an easy-to-use platform, which makes EOS.io easier to navigate than its competitors. It also plans to extend blockchain technology to enterprise infrastructure. Scalability is a primary priority for app developers who focus on delivering faster transaction speeds and more transfers per second.
This cryptocurrency supports all the central features necessary to enable individuals and businesses to create these dApps the same way they create conventional web applications. EOS has features that provide secure authentication and access, usage management, data hosting, permissions, and communication enjoining the Internet and dApps.
Much like Ethereum, EOS is programmed to dApps developed using Smart contracts. The difference is that EOS is built to process thousands of transactions each second, whereas Ethereum merely allows 15 transactions per second.
Technology experts believe that the EOS works comparably to the App Store or Play Store.
How Does EOS Coin Work?
EOS has been designed to mimic the performance of a real computer, and the software uses well-known computing concepts. For instance, the EOS blockchain is powered by three kinds of resources.
These resources are bandwidth or data transfer rate to control the data transfer across the whole network, computation to run a decentralized app, processing power required, and state storage to store the data on the network to be referenced straight away.
What Makes EOS Stand Out?
- Scalability: One of the most essential features developers look for is scalability. EOS is easier to use and more scalable than other blockchain networks. EOS has the capacity to process 1 million transactions per second.
- Free to use: One of the best parts about EOS.io is that it intends to allow developers to build decentralized apps that are free to use for everyone across the blockchain network.
- Decentralization: Unlike Ethereum, which is considered a decentralized supercomputer, EOS can be called a decentralized OS.
The EOS Economy & Its Use Cases
You must be familiar with the concept of mining if you’re aware of the Bitcoins market. Contrary to Bitcoin, mining isn’t used in EOS. Instead, the producers generate blocks and get paid for each block that is created by them.
Block creators can proclaim their desired payout amount. The number of tokens they create is computed based on the average expected payout published by every block producer.
Block producers clearly want more rewards, so this feature can be easily exploited. To combat this, the mechanism limits producer reward tokens so that the total annual increase in token supply is at most 5%. Token holders who vote on issues have the power to vote for block producers who are more in demand.
This mechanism works in a complementary manner with EOS Storage, as all token holders pay for file storage on the EOS network through a portion of their annual inflation. As long as you store your files on the network, your EOS tokens will be held at an inflation rate and lose value.
Usage of EOS
Unsurprisingly, the primary use of EOS is participating in network governance and betting on its DPoS mechanism.
Thanks to EOS’s instant and cost-free transactions, it can be used as a payment method and an analytical investment tool. As mentioned, EOS is not as well used as other cryptocurrencies, and the platform is largely underutilized in the dApp sector.
Where To Buy EOS Coin From?
Are you wondering where to buy EOS token? Below are some of the many trusted platforms through which you can get your hands on the EOS Coin.
Kraken was launched in 2011 and has become one of the most trusted names in the world of cryptocurrency. Kraken offers various distinct features and options to buy different crypto, including EOS.
It has more than 9 Million users worldwide, and $207 Million in trading happens quarterly. Kraken provides services in more than 190 countries and is considered one of the best exchanges to buy EOS in the U.S.
The most well-known platform in the U.K. and U.S, Uphold is a very innovative and an experienced trading platform that provides ease to buying EOS. The platform has gained popularity through its user-friendly interface, professionalism, and matchless credibility.
Uphold provides you with extreme convenience as you can get both desktop and mobile phone apps to have a look at your transactions on the go. The app is very easy to use, even for newbies, and makes you do your transactions with just a few clicks.
The cryptocurrency platform Nexo claims to be the leading digital currency platform in the world. The firm has been there since 2017 and has over 4 million users. Nexo provides innovative features and a convenient interface to its users. The company has gained a good reputation over the years for its accountability and ease.
Binance is the most well-known crypto exchange in the world, and it is known for its transparency. You can have a lot of advantages if you choose to finance, as it makes you pay lesser transaction fees and more liquidity to make sure that you sell and buy your cryptocurrencies with confidence and comfort.
How Can You Buy EOS Coin?
Here are some simple steps you can follow to buy EOS:
1) Open an Online Account
To buy any type of cryptocurrency, the first step is to open your online account accompanied by a crypto dealer that gives access to the tokens and coins you desire to be part of your portfolio.
2) Download or Purchase a Wallet
Once you have decided where to sell or buy cryptocurrencies, we recommend opening a private wallet to store your tokens and coins. A crypto wallet is a computer device or program that stores coins using a set of private keys. Crypto wallets keep your tokens and coins safer than exchange wallets by reducing the chance of losing money due to exchange hacking or theft.
There are two vital types of crypto wallets available in the market. The software and the hardware wallets. Software wallets are applications that need an internet connection in order to access investments. In comparison, hardware wallets refer to the offline devices where you can save your money.
Both hardware and software wallets have their own pros and cons. Here are a few things that you should consider when buying wallets.
Things to Consider While Buying Wallets
Price: Software wallets are almost free and don’t charge a lot for storing your money, while hardware wallets are pricey and can take a toll on your bank account.
Touchscreen Access: If you’re always on the go, consider investing in a wallet that allows touchscreen access so that you can access your investments even without an internet connection.
Support Your Tokens and Coins: Make sure that the wallet you’ve chosen supports all kinds of coins and tokens that you’ve invested in. Otherwise, it will be of no use.
3) Fund your account
To get rolling, you will first link a payment method which depends on the broker you’re working with. You might be allowed to buy cryptocurrency with Paypal, a bank account, or your debit or credit card. The second step would be placing an order using the dealer’s crypto platform.
4) Make a Deal
Once you’ve capitalized your account and decided how to store your coins, you’re ready to buy. In the beginning, decide how much to invest in EOS, and by using the current market rate, determine how many coins you can buy. We recommend that you spend time monitoring price changes so that you get the most out of your funds.
Your broker will proceed with the order once you’ve placed the order. After the order gets fulfilled, you will be able to see EOS in that account. To transfer the coins to your personal wallet, search your wallet address and begin the transfer. Make sure that you enter the correct wallet address. Once the coins are transferred to the wrong wallet, it is not possible to get them back.
EOS is recommended by a lot of crypto brokers, and it has definitely gained popularity over time. But keep in mind that the platform is still in its developing stage.
Investing in any cryptocurrency can turn out to be risky, so ensure that you are buying from a trusted and secure site! Now you can buy EOS in US, UK, Canada, or anywhere around the globe!
What is EOS?
Like Ethereum, EOS is a platform that is designed to help developers in building decentralized applications. It can be said that it is based on a blockchain network. EOS provides safe connection and permissions between the internet and decentralized apps.
What determines the EOS price?
The EOS price is heavily dependent on the crypto market, specifically on Bitcoin.
When is the best time to buy EOS?
To be honest, nobody can guarantee the best time to buy EOS, but people follow strategies that are given by experts. The most famous one is to buy EOS when the crypto prices have dropped.