Ethernet Over Sonet is a blockchain network with growing popularity. Created by Dan Larriner, the platform is designed to enable app creators to develop apps on the EOS networks. In the same manner with Ethereum, EOS network has no central control. Today, the coin has a total market capitalization of $4,777,186,753USD. A total of 1,006,245,120 EOS tokens are in supply but what is in circulation is 906,245,118 EOS. From these figures, you can see that the coin is doing quite well and it’s worth investing on.
Purchase EOS Directly with Fiat
Currently, EOS transactions cannot be paid for directly with fiat money through payment methods like plastic cards, bank/wire transfer and e-wallets such as PayPal. Your only option is to acquire Ethereum or Bitcoin first and then exchange them for EOS via a cryptocurrency trading platform. Coinbase and LocalBitcoin are good exchanges to purchase BTC or ETH as they accept conventional currencies through traditional methods.
However, to barter your altcoin, networks like Binance should be a better option for you. Just transfer your tokens from Coinbase to Binance. You will be able to sell them for EOS on this network. But there is a way to obtain EOS with fiat money. This can happen only through an individual owner of EOS who is willing to sell to you. You can transact with the person and send him money directly as agreed.
Getting Crypto with Bitcoin and Other Altcoins
The simplest method of getting EOS is to swap it for ether or bitcoin. Such transaction is the most convenient for the following reasons:
- Bitcoin and Ether are very popular and are traded on virtually all exchanges
- When kept, it is almost impossible to steal them
- Bitcoin/Ethereum sellers are readily available
- Your chances of getting huge profit after bartering your altcoins with EOS are very high.
Find the Best Exchange to Buy EOS
Just a handful of few of exchanges allow their clients to swap BTC for EOS or ETH for EOS. Make sure the platform you want to transact on is a reliable one. For an easy search of a reputable network easy, here are most trusted sites to utilise for the deal. Here the platforms which accept EOS trading:
|Takers – 0.1%
Makers – 0.01% rebate
|0.1% trading fees|| Min withdrawal for:
BTC – 0.002
LTC – 0.1
NEO – 1
QTUM – 0.02
Dash – 0.004
As we mentioned before there is one good way to purchase EOS, obtaining the altcoin that are quite popular among traders like bitcoin, ethereum, litecoin, etc. So we made a list of platforms that accept buying Bitcoin and Ether for further exchanging them for EOS coins.
|Visa/MasterCard – 3.5%||Basic account – $1,000
Verified – $500,000
verified plus – unlimited
corporate – unlimited
|0.15EUR – bank transfer
wire transfer – $10
|Free||Unverified – $1k
Verified – $114k
Register on CEX.IO Trading Platform
It’s very simple to be on CEX.io as nothing is demanded except a password, an electronic-email ID, and contact number (phone no). Go to the home page. Look for the menu containing the tab for signing up. Tap on for the account creation page to appear. Alternatively, register via FB, GitHub or Google+.
Validate your membership. Place the mouse on the user ID icon for a cascading menu to appear (it is listed in the top menu). Among the options that will come out is the button for validation. Authenticate your account by taping on the tab. This is normal in all exchanges that allow trading of tokens with fiat money. So give them all documents they want such as identification card to have a fully verified account.
Deposit Your Account and Purchase BTC or ETH
After your account has been verified, you have to put money into it which involves a simple process. The menu containing the tab for deposit is located on top of the page. The website accepts several payment methods including plastic cards and bank transfer. The commission is charged on deposits made with bank cards but the only advantage is that the money is put into your balance instantly.
However, with bank transfer, you get the opposite – no commission and longer transaction time. Thus, make your choice bearing these benefits and drawbacks in mind. When you decide on the best option for you, fill out the forms as they appear. Start the deal as soon as the transfer is done. Press the ‘BUY/SELL’ tab which you will find on the upper menu.
The available currencies including tokens display on the screen. USD, Euros, GBP, and Rubles. Choose a digital currency to procure (here, we are using bitcoin or ether). A box is provided at the bottom page where you should key in how many altcoins you need; or leave the default amount already showing there if that is good for you. Seal the transaction by taping on the buy tab. Finally comes the confirmation of the purchase.
Use Binance to Transfer Your Cryptocurrency
Now your CEX.IO is no longer zero, you have to move your digital currency to Binance to be able to swap them for EOS. I assume you are starting. Consequently, the first step is to register on the platform. The account creation process and that of CEX.IO are almost the same. It involves signing up, email confirmation and setting up of 2F authentication.
When your account is active, bankroll it by withdrawing what you have on CEX.IO to your balance on Binance. Go for the Deposit Withdrawal tab. Key in your preferred altcoin on the search box. The system will bring up deposit address for you. Write it down somewhere for future reference/use. Key into CEX.IO. Hit on the tab for withdrawal which you will find on the home page’s upper part. Choose BTC or ETH.
Input how many altcoins you are moving and supply your wallet address. Hit on the Withdrawal tab. Use your preferred 2F authentication method to generate the number which you input on the box for it when it is required by the system. Press the confirm button to continue to the final steps, namely, withdrawal validation.
The confirmation link comes through an email sent to your inbox by the system. Check your inbox for the email. The digital currency will be added on your balance in Binance once the link is pressed on. The transaction takes about 20 to 60 minutes to be finalized if the network is free of the backlog.
Trade Crypto for EOS
Now you are ready to barter for EOS. Pick and press on the right pair to open up the trading page. In Binance, tokens are ordered for in 2 methods, namely, limit and market buy. For the former, the price to swap the altcoin for EOS will be determined by yourself but for the latter, it is fixed for by the network at the most favourable price. The market order is more user-friendly. Consequently, it will be utilized as an example here.
Tap on the tab for the Buy EOS in green color. Select your order type (market buy). Put the sum of EOS to transfer for in the box provided. Alternatively, you can fill the percentage box below. For example, if you would prefer to keep 70% of altcoin, then type 30% on the percentage box provided.
If everything is ok, press the button for buy for instant filling of the order. Look at the top menu, you will find. When you tap on Funds on the upper menu, you will be presented with options of function on the drop-down menu, pick ‘Deposit Withdrawals.’ Put in EOS in the search space. The sum will be added to your EOS wallet.
Type My Wallet against Label and on the address space, put a private wallet. If you haven’t got your personal wallet, get one. There are several options, but here, I will talk about MyEtherWallet. Visit its site. Make sure that nobody can easily guess your password but it should be easy for you to recall. If you don’t remember it, sorry, your coin is gone. Your unencrypted private key will be generated automatically by the system.
To empty your balance, press the max button but for a specific sum, type in what’s required in the Amount box. In the absence of any correction to make, submit the request form. The confirmation link will be sent to your email inbox. The transferred sum will be added to your token balance in your wallet.
How Can I Sell My EOS?
Where to Store Coins?
What’s Transaction Fee?
Why to Invest in EOS?
- EOS’ scalability or performance is more impressive than those its competitor, Ethereum.
- EOS’ biggest rivalry, Ethereum is struggling to maintain a high scalability that will make it possible for high TPS dapps to function on the site.
- Boasting of sufficient funds, EOS utilises inflation as rewards for development.
- EOS’ founder has a good grasp of the industry.
- Having EOS cryptocurrency implies you are a stakeholder in the digital world as this qualifies you to use shared network resources such as bandwidth, storage etc.
- The chances of airdropping EOS to the current owners of the altcoin in the years to come by are higher.
Can I Buy EOS anonymously?
What’s EOS Coins?
EOS is a blockchain-based platform established by Dan Larimer to rival Ethereum. Fully called Ethernet Over Sonet, it runs and links up providers and their clients without depending on any central control. It features a design that provides a better performance and flexibility than ETH which makes the development of decentralised apps easier for app creators.
The project is still at its budding stage and therefore it is without any working product as of now. One billion EOS coins would be sold to fund the project over a period 12 calendar year providing everybody the opportunity to own the altcoin.