Buy EOS – there are these possibilities

Last Updated: 16/11/2018

Buy EOS? This could pay off for you as an investor, because EOS tokens compete with Ethereum. EOS and Ethereum pursue similar goals, but EOS makes even more possible. We’ll tell you what makes EOS interesting for investors, how you can buy EOS particularly conveniently and what you need to bear in mind if you want to buy EOS.

FROM THIS SUPPLIER YOU CAN BUY EOS

Product recommendation: With Plus500 you can easily deposit via Paypal and credit card, open an account in 15 minutes. In the following, we’ll tell you what makes buying EOS through a CFD broker so special, what makes EOS so special and what opportunities you have to participate in the EOS share price.

EOS CHALLENGES ETHEREUM

EOS (EOS) is one of the youngest crypto currencies ever. EOS tokens only saw the light of day in June 2017, but were already among the top 10 most successful crypto currencies in terms of market capitalization in March 2018.

Like its crypto competitor Ethereum, EOS wants to create a platform based on blockchain technology that can be used to develop commercial and decentralized applications. This will be achieved by providing all necessary functionalities to developers. Compared to Ethereum, however, EOS has gone a few steps further in technical development: it should be possible to execute millions of transactions per second. In addition, this should be possible free of charge, i.e. no transaction costs should arise.

EOS can do without the mining typical of the original crypto currency Bitcoin. No coins have to be mined, EOS offers what is known as a ‘delegated proof of take’. “Proof of Stake’ refers to a process by which a blockchain network reaches an agreement as to which participant may generate the next block. A random selection helps here. So whoever owns EOS can validate transactions on the blockchain. The addition ‘Delegated’ means that members of the network choose ‘Witnesses’ to validate the transactions. This should make the blockchain much more secure than other proof-of-stake or proof-of-work procedures.

EOS is backed by EOS.IO software, an operating system based on blockchain technology. The aim of EOS and the EOS.IO platform is to be the first decentralized system to offer a development environment for decentralized applications. The EOS blockchain should be able to carry out up to one million transactions per second thanks to asynchronous communication. In the world’s first crypto currency rating, EOS received the only B grade from the US rating agency Weiss in addition to Ethereum in January 2018. For comparison: the best-known crypto currency, Bitcoin, was only rated C+.

Due to EOS’ innovative technical approaches, this cryptocurrency could play an important role in the future. The price performance is also making potential investors sit up and take notice. In the following, we will show you how to buy EOS and what possibilities there are.

THE FASTEST WAY: BUY EOS AS CFD

In various crypto forums EOS is already celebrated as the better ethereum, many fans even trust EOS to overtake the most famous crypto currency Bitcoin at some point. If you want to buy EOS, the easiest and fastest way is with an EOS-CFD. EOS is still in its ICO (Initial Coin Offering) phase, which lasts until 1 June 2018, but investors can already buy EOS as a CFD.

With an EOS CFD, you can participate particularly easily in the performance of the EOS tokens. As a buyer of an EOS CFD, you do not physically own this exciting cryptocurrency, so you do not own a file or a digital coin, but you nevertheless participate directly in the EOS share price performance: if the EOS price rises, then your EOS CFD also rises.

Important: You can participate in the EOS course at a ratio of 1:1 with a CFD. With an EOS CFD, however, you also have the option of using a lever. With a lever of 30, your EOS-CFD rises and falls 30 times as much as the ‘normal’ price of the cryptocurrency. This can open up great opportunities for you as an investor. But leveraging a CFD also involves a certain amount of risk. You should always keep in mind that an investment in cryptocurrencies is speculative.

Our recommendation: Both CFDs and online currencies are only suitable for investors who are not afraid of price fluctuations. To trade in cryptocurrencies, use only the money whose loss you can financially bear.

BUY REAL EOS

An EOS CFD reproduces the development of EOS tokens 1:1 in an ideal case – an elegant method to profit from the developments in the cryptographic market. If you want to buy real EOS, i.e. own EOS as a file or digital “coins”, then you need a so-called wallet. A wallet is comparable to a checking account in your pocket. How a wallet works exactly and what you have to pay attention to, we explain in detail in our crypto-lexicon. You can find out which wallets EOS supports on the FAQ page of EOS.IO.

Once you have set up your wallet on your system, you can receive EOS from other crypto owners. With your wallet, you can now also buy EOS on a crypto marketplace and then save it as physical data on your EOS wallet. What remains is the question of how and where you can buy real EOS – there are various ways to do this, the most important options are listed below:

BUY EOS AT CRYPTO EXCHANGES

Anyone who wants to buy or sell EOS can do so on so-called crypto exchanges. These are comparable to crypto exchanges, but specialize in trading crypto currencies. Among other things, you can buy EOS on the CryptoGo exchange in London. But also at the Chinese crypto exchanges Binance and Okex, at Bitfinex from Hong Kong and at the very well-known US crypto exchange Kraken.

Once you have decided on a crypto exchange and want to start trading with EOS, you first have to set up a customer account – there is hardly any difference between the crypto exchanges. Most exchanges require you to exchange Bitcoin or Ethereum for EOS – how and where to buy Bitcoin and Ethereum can be found in the relevant Buy Bitcoin and Buy Ethereum guides. Kraken is one of the few crypto exchanges to offer to buy EOS in euros.

Our recommendation: Buy EOS and other cryptos only via well-known stock exchanges. After the purchase, the ‘coins’ will initially be on your customer account at the relevant stock exchange. Depending on the stock exchange, this can be risky. Secure your cryptos as quickly as possible and transfer them to your wallet – preferably to your hardware wallet. We explain what this is in our crypto encyclopedia.

BUYING EOS FROM A CRYPTO MARKETPLACE

In addition to crypto exchanges, there are also so-called crypto marketplaces where you can buy EOS, NEO, Bitcoin, Monero and other cryptos. The best known German marketplace is bitcoin.de.

On bitcoin.de you can trade the best known digital currency Bitcoin as well as Ethereum, Bitcoin-Cash and Bitcoin Gold and even exchange them for Euro. EOS Tokens you cannot buy there so far unfortunately, further crypto currencies are to be added however in not too far future. How you can easily buy the established crypto currencies via bitcoin.de is explained in our guidebooks Buy Bitcoin and Buy Ethereum.

SHOULD I BUY EOS AS AN INVESTOR?

As already mentioned, EOS is still at a conceptual stage. Founder Dan Larimer has already come under frequent criticism in the past for not having completed projects before turning to new topics. But anyone who believes in the future of cryptocurrencies, above all from a technical point of view, and who, as an investor, expects further price gains in the crypto sector, should take a look at EOS. Due to its forward-looking concept, EOS tokens should not be missing from any crypto portfolio.

The concept of delegated proof-of-stake has the advantage for companies that they can delegate EOS tokens directly to developers and other companies. This gives companies better control over the progress of projects, and transactions on the blockchain are completely free. The so-called ‘Supermajority Consensus’ is intended to make EOS.IO even more secure. This is supposed to make it possible to undo hacker attacks and other serious mistakes.

These points make the use of EOS particularly attractive, but it should not be forgotten that much of what EOS.IO promises is still on a white paper. Most of the considerations have not yet been implemented, the cryptocurrency and its underlying blockchain are still being worked on.