How to Buy EOS in 5 Minutes

How to Buy EOS in 5 Minutes
5 (100%) 1 vote

If you’re familiar with smart contracts in the blockchain sector, you’re well aware of the “Big 3”: Ethereum, EOS, and Tron. The 3 blockchains host the most used smart contract infrastructures in the development sphere. “Smart contracts”, otherwise known as digital agreements between different parties or entities, are immutable and can be developed by anyone with an up to date computer. As blockchain industry begins to different sectors of technology, the race for the more efficient and useful infrastructure trudges on. As such, EOS, is one of those blockchain projects that has taken the initiative to push forward in an effort to be the standard for smart contract development.

EOS is also known widely known because of its ICO that it conducted where over $4B was raised over the span of a year. The ICO marked the largest ICO ever conducted and set a precedent for all future companies looking to raise money through blockchain frameworks or technologies. EOS maintained a Top 10 Cryptocurrency (Ranked by market cap) for the latter half of 2018, and has since demonstrated some of the largest trading volumes within any cryptocurrency. This guide will go over the ins and outs of buying EOS, and the steps you need to take for it.

Quick Search Box

How to Buy EOS (Quick Step Guide)

  1. Register an account with CryptoRocket
  2. Submit the required documents, and verify your account
  3. Fund your account ($250 recommended)
  4. Find a pairing of “EOS” to your deposited crypto – if you can’t find a pairing, exchange your deposited crypto for an EOS pair (Typically BTC or USDT)
  5. Enter the amount of EOS you’d like to purchase

Buy EOS Now

Compare
You can find out more and compare the brokers and exchanges that offer to Buy or Sell Cryptocurrencies in our list below, or you can skip through directly to our step-by-step guides and tutorials
EOS Converter

Currency Converter

Use our crypto currency converter tool.

Compare Platforms to Buy EOS

4,9/5

Buy Now

4,9/5

Buy Now

4,9/5

Buy Now

4,9/5

Buy Now
Payment Methods

  • Credit/Debit Card
  • NETELLER
  • Cash
  • BITCOIN
  • PayPal
Payment Methods

  • Credit/Debit Card
  • Bitcoin
  • Cash
  • Neteller
  • PayPal
Payment Methods

  • PayPal
  • Credit/Debit Card
  • Wire Transfer
  • Neteller
  • Cash
  • Neteller
Payment Methods

  • PayPal
  • Credit/Debit Card
  • Wire Transfer
  • Neteller
  • Cash
Minimum Deposit
$50 USD
Minimum Deposit
$10 USD
Minimum Deposit
$100 USD
Minimum Deposit
$100 USD
What is EOS?

EOS itself is both a blockchain protocol, a cryptocurrency, and generalized entity that provides blockchain and investment-related financial services. EOS was founded by the blockchain company “Block.one”, who was backed by the famous angel investor Peter Thiel. Understanding EOS requires a brief understanding of Bitcoin. Bitcoin has what is deemed as the “scaling” problem, otherwise known as “scalability”. As more users and transactions enter the Bitcoin ecosystem, the network becomes congested, slower, and more expensive. Block.one identified this problem early and attacked it head-on, developing the EOS protocol; a protocol that ran off of a different algorithm and consensus mechanism (How a blockchain achieves validation) and would fix the scalability issue Bitcoin presented. As a result, EOS was developed and launched; the biggest perk EOS yields is the fact that no fees are required to send or receive it.

Cryptocurrencies are often criticized because of the “network fee” or other incentives provided to miners of the network when you send and receive a certain cryptocurrency. EOS did away with transaction fees, however, it did come at a cost; one which has been a large controversy within cryptocurrency.

EOS runs on a DPoS model, which stands for “Delegated proof of stake”. It’s a modified version of the legacy “proof of stake” consensus algorithm whereby stakes are representatives of impact on a network, or in this case, blockchain. In the EOS blockchain, the more EOS you hold, the more resources of the network you can utilize. The problem that some speculators propose there is that if you hold the majority of EOS, aren’t you controlling the entire ecosystem? In that case, are you more centralized than not? Regardless of the case, EOS has adopted various fixes and implementations to the network in attempts to try and vitalize the distributed notion of the network.

EOS maintains very high throughput, with the ability to process thousands of transactions per second. It also maintains a very interactive development community whereby programmers and coders around the world have built upon it. EOS is one of the only cryptocurrency frameworks that enables an inclusive C++ development kit.

Best Platforms to Buy EOS

CryptoRocket

CryptoRocket is another platform that offers EOS among the wide variety of cryptocurrencies traders can choose from. We’ve tested CryptoRocket and found it to be amongst the most reliable EOS exchanges on the market, making clear efforts to inform users on the risks of crypto trading as well as providing advice on how to make the most out of their trading experience.

Pros:

  • User-friendly interface
  • Minimum deposit of $10
  • MT4 and WebTrader available
  • 30 cryptocurrency pairs available

Cons:

  • No wallet available
  • Limited deposit methods

CryptoRocket is amongst the most trusted exchanges out there, with a particularly simple sign up process and user-friendly-interface. At the same time however, it maintains more complex features that experienced users can benefit from as well. Here is a brief guide on how to register on the exchange.

Step 1: Registration

All you need to do for the first stage of the registration process is go on the official website and click on “sign up” on the top right corner of the page. You will then be requested to fill in a short form with your email address, full name and password. It will take about one minute or two.

Step 2: Opening Trading Account

Once you’ve completed the first step you will have to open a trading account. We always recommend starting from a demo account because it will help you understand how the platform works so that you will be more comfortable using it once real money gets involved.

Step 3: Deposit funds

When you feel ready to switch to a real account, you will have to make your initial deposit. You will be required to deposit at least $10 to be able to access the trading space. You can make the payment via credit/debit cards of MasterCard/VISA circuits or via Bitcoin. Once you choose your payment method you insert your deposit amount and your payment details to complete the transaction.

Step 4: Buying

After you’ve done that you can officially start trading. Once you access the trading platform, you will have to look through the asset list on the left side of the page and scroll down until you find EOS. When you do, you will have to select it and decide whether you want to buy or sell.

Visit CryptoRocket

Binance

Binance is another very viable option for purchasing EOS if you’re looking to buy the cryptocurrency fast and in a safe manner. Binance is a Malta-based exchange that has been for over a year now running one of the top ranking cryptocurrency exchanges in the digital asset space. It’s quickly becoming a standard for upcoming and prospective tokens to aim for a Binance listing because of the wide exposure it grants you. Binance maintains one of the most liquid EOS trading pairs as well, meaning there’s a large guarantee on Binance of getting an EOS purchase at the best possible price.

On Binance, you don’t necessarily trade EOS unless you strategically try to trade EOS; what is meant by this is that the exchange offers direct purchase of the EOS asset, not just representations. As a result, you can exchange cryptocurrency for EOS on the platform.

Pros:

  • Numerous audited assets supported with multiple base currencies
  • Fast and easy registration process
  • No need to verify your account in case you are trading normal amounts of coins
  • Basic and advanced trading views

Cons:

  • You need an actual EOS wallet
  • In case you decide to raise your account limits, verification can be slow

Step 1: Registration

To get started, simply log in or register for a new Binance account; all you need for a Binance account is an email address and a valid username/password.

After registering, check your email for the confirmation link so you can finalize your Binance account registration. After this, you’re done; you’re able to buy EOS. Unless you’re looking to make institutional-sized trades or purchases on Binance, no further verification is required. However, it’s definitely recommended that you take the time to enable 2FA for extra added security. This is essential, especially since Binance is targeted highly by hackers and scammers.

Step 2: Deposit

Once you’ve registered and hopefully enabled 2FA, you’ll need to make a deposit to Binance. Binance has multiple methods of deposit enabled on the platform; for example, you can choose between a credit card deposit or a base cryptocurrency deposit. Binance enables deposits for almost all listed cryptocurrencies.

The cheapest deposit method on Binance is to deposit Bitcoin. Although deposits and purchases using credit cards can be quicker depending on Bitcoin’s network confirmation time, in regards to fees, Bitcoin deposits are the quickest option. In order to make a cryptocurrency deposit, head to the navigation bar and hover over “Funds”, and then select “Deposits/Withdrawals”. After that, you’ll have a drop-down menu where you can select which cryptocurrency to deposit; select Bitcoin, and then press the yellow “Deposit” button highlighted in red in the image below. Once selected, a deposit address will be generated for you. This is where you’ll send Bitcoin to.

Once you’ve sent the Bitcoin to this address, wait for the network to confirm the transaction. Once confirmed, you’ll then be able to use the newly deposited Bitcoin to purchase EOS.

Step 4: Buying

Go to the top left side of the navigation bar and find the “Exchange” tab, then select basic. On this page you should see the small magnifying glass next to a search bar. In this search bar, type “EOS” and filter to “BTC Markets” directly underneath it. Click on the “EOS/BTC” pair. A new chart should pop up. Underneath this chart, find the “Buy” and “Sell” sections. Underneath “Buy” you should see “Limit” and “Market” order types; select market order, as this is the fastest, easiest method for purchase of EOS (Not always the MOST cost efficient, however, it simply executes a trade at the next best price which is a best practice for beginners).

When the market tab appears, simply enter the quantity of BTC worth of EOS you’d like to buy, press “Buy”, and the order book will update and your order will enter the market. Once executed, which will be instant since it is a market order on a highly liquid trading pair, you’ll be able to check your Binance Funds and see that your EOS balance has updated to a higher amount.

Visit Binance

Coinbase

Coinbase at the moment does not support EOS listings, purchases, or trading. EOS has been regarded as a main contender for the top cryptocurrency spot for quite some time now, so the idea of it being listed on one of the most popular exchanges like Coinbase isn’t completely out of the question. Coinbase has taken the recent initiative to audit, and implement a wide range of new assets for direct purchase on Coinbase.

EOS has additionally received funding from institutional American Venture Capital firms, and if you’re aware of Coinbase’s morale, you know they’re focused on emphasizing regulation and legitimacy; so with traditional backing, an EOS listing on Coinbase may not be far away.

Trading EOS in Your Country

UKUS & CanadaAustralia

If you’re in the UK, you have a variety of different options when it comes to buying EOS. The main platform used typically in the UK for buying EOS is Binance. Since Binance is regulated by the FCA, the confidence level around the platform is fairly significant as far as safety and security go. If looking to maintain a buy position on EOS while in the UK, Binance is an excellent option.

Additionally, there are no restrictions to trading EOS on Binance if you’re from the UK. The process is still the same, and the verification materials do not change. You don’t need verification documentation unless you’re looking to acquire institutional amounts of crypto on Binance.

If you’re in the US, you have 1 very solid option when it comes to purchasing EOS. Binance is a supported platform within the United States, open to all investor classifications. The main difference between the two is the financial products offered as well as the verification process.
If you’re looking to buy EOS from Binance through contracts for difference, you’ll need a fully verified/registered Binance investor profile account which can take a few days to process. However, as a result you’re awarded margin, additional financial products, and social trading ability.

Binance is also an option; while you don’t have ability for margin or additional financial products to trade and buy EOS, you do not need a verification process and can purchase the asset near instantly upon deposit.

Binance is an optimal platform where you can purchase EOS if you’re located in Australia. In this case you’re never actually purchasing the EOS asset, rather only purchasing contracts that grant you exposure in terms of price.

  • Platform
  • Rating
  • Properties
  • Trade Now
1
 
The Best Choice
  • #1 CFD Trading Platform
  • Low Trading Fees

Differences Between Buying and Trading EOS

Buying

  • You own EOS, you have the right to move it, sell it, and transfer it as you wish.
  • Traditionally associated with longer-term (Multiple months to years)
  • EOS can be used just as fiat currencies are; for purchases, or for payments
  • You can use the EOS for smart contract development and other uses

Trading

  • If you’re trading EOS, traditionally done through different financial products like CFDs, you don’t actually own EOS asset
  • Trading EOS usually means a shorter time period for exposure
  • Traditionally associated with shorter-term positions or ideologies about EOS because using margin accrues fees very quickly
  • Higher risk is implied because you’re buying contracts on margin (Borrowed money from the broker)

How to trade EOS with a trading robot

If you’re looking to trade EOS but don’t really know how to trade, you can take advantage of a cryptocurrency algorithmic bot. Cryptocurrency trading robots trade the digital markets automatically and do so based upon set parameters or parameters. They are many times configurable as well with the ability to set exclusive assets on trade. In this case, for example, a certain pair such as EOS/BTC (EOS exchanged for Bitcoin) is selected exclusively for trading. In this case, you can trade EOS with a trading robot.

It’s important to research and complete your due diligence on the trading robot you’re looking to use, however. There are many scams, Ponzi schemes, and other forms of fraud that are associated with trading robots, so always be sure to do in-depth research on any programs or robots that you might be utilizing.

Alternative Methods to Buy EOS

Credit/Debit CardPayPalBitcoin

The most optimal way to purchase EOS with a credit card is directly on Binance’s platform using a fiat bank/credit card as the main payment method. This is a relatively new feature, so if you don’t see the option on your account, you may have to clear your cache on your browser or update any older settings. To find the section where you can link a credit card, navigate to “Funds” in the top right of the navigation bar, and on the dropdown select “Buy with Credit Card”.

 

Selecting this option will prompt you with a new screen where you’ll have to enter in the specifics of your credit card for payment. On this page you’ll also have two options: 1.) Purchase EOS directly using a credit card, or 2.) Purchase a paired asset of EOS (Say BTC, or ETH for example), and then swap that for EOS on the Binance exchange.

Purchasing EOS directly is easier and more efficient, so to do that, simply select EOS from the dropdown list of assets that the new page presents, and enter the quantity of EOS you want to buy. Press “Buy Now” and once executed, you’ll be able to go to your portfolio on your Binance account and see that the balance of EOS has updated.

The easiest way to buy EOS with PayPal is by linking a PayPal account to Binance and purchasing EOS directly through Binance with the transferred PayPal funds. Prior to this, however, you’ll need a verified PayPal account that is verified with a bank account or debit/credit card. Once you’ve completed that step, you can then simply enter in the account details and proceed to add PayPal as a deposit method on Binance (See earlier in this guide section “How to Buy EOS on Binance”). A new window will prompt you to login to your account; do this, and you should be able to fund the Binance account with PayPal funds.

Once the account is funded, move ahead to create a buy order for EOS on Binance just as instructed previously in this guide. The overview process is the same on other platforms as well.

Buying EOS with Bitcoin can be done by first utilizing an exchange that supports the EOS/BTC trading pair, depositing Bitcoin to that exchange, and swapping the newly deposited Bitcoin for EOS. Binance is currently the most liquid and easiest exchange to buy EOS with Bitcoin on; to do this, simply deposit funds to your Binance (Or another exchange equivalent where an EOS/BTC trading pair is available), and then navigate to the exchange section. Find the EOS trading pair under the Bitcoin markets, and hover to “Buy EOS”. A new trading option will appear where you can choose a market order or limit order. Select market order, enter the quantity of EOS you’d like to purchase (Relative to your deposited Bitcoin) and press the green buy button.

How to create an EOS Wallet

Each time a deposit is made to Binance as instructed in the previous section of the guide, a virtual wallet for EOS is created for you to use. You can deposit or withdraw EOS from this wallet as you wish.

Additionally, you can also utilize external verified wallets/services that support EOS such as Atomicwallet who has added EOS support in a dedicated fashion. Other wallets are available, however, it’s very important that prior to any utilization, you check you are running a legitimate wallet (Check for phishing or fraud), and that you are also running the correct asset wallet (It’s a common mistake where users send an unsupported cryptocurrency to a different wallet).

[/toggle]

Conclusion

You’ve just learned which service is the best EOS exchange along with three other top picks. You know how to buy EOS via each exchange and broker, and you know the upsides and downsides of different payment methods (credit cards, PayPal) as well as how to use those to buy EOS. You also know the pros and cons of holding coins in a EOS wallet.

Our top pick among EOS platforms isBinance. The broker offers its users an easy-to-use platform, a fast registration process, social trading features, and regulated service.

If you like to receive articles like this into your inbox along with EOS news, be sure to subscribe to our newsletter.

FAQs

Ethereum vs EOS: what’s the difference?

The big comparison and debate in the blockchain and cryptocurrency community is whether EOS is better than Ethereum. The two are somewhat similar in nature where they both allow for smart contract development, have a Proof of Stake mechanism (EOS runs a modified version, however, the staking concept is prevalent in both projects), and also the concept whereby both projects are fans of the ICO crowdfunding method.
EOS and Ethereum are both different; they have their respective pros and cons. Ethereum’s main advantages are its levels of decentralization where not a single entity or group of entities can really control the overall network. EOS has the main advantage of no fees and high transaction throughput, but this comes at the cost of being slightly more centralized. Neither is necessarily explicitly better than the other; it’s just dependent on your subjective interpretation of which qualities are more important.

Who Created EOS?
EOS was founded by the blockchain service provider company “Block.one”. The company is famously backed by Peter Thiel as well as a few other notable VC and PE firms. EOS was founded by a group that is also famously recognized by the BitShares community, another decentralized cryptocurrency project looking to disrupt the global financial services market.
Is EOS Legal?

EOS is currently not recognized as any technology or framework that is deemed illegal on a global financial scale, however it is definitely still best to do your own respective research and see if it is in fact deemed okay to purchase in you region. For example, while ICOs are not deemed illegal per se in the United States, they are deemed illegal in China.
As such, always do your proper due diligence. At least within the US, UK, and Australia, EOS is not deemed illegal.

What Can EOS Do?
EOS is a cryptocurrency that can be sent, received, and confirmed/settled anywhere in the world (To another wallet) within mere seconds without any transaction fees. It competes with other cryptocurrencies with the sole factor of not having any type of fees and processing transactions at very high speeds. EOS is also a development platform where developers can develop decentralized applications and individual smart contracts, virtual agreements amongst one another that execute upon predetermined set parameters.

EOS can also function as the backbone for storage systems; while singularly storing data on EOS isn’t entirely efficient, utilizing a subsidiary method such as IPFS in accordance with EOS can prove very useful.

Is EOS a Good Long Term Investment?
EOS performed better than a large majority of cryptocurrencies in 2018, mainly due to the fact that it finished its ICO and raised over $4 billion in the course of just a year. Asking whether or not EOS is a good long term investment is really dependent on your own portfolio and the volatility you’re willing to withstand from assets you place in your portfolio. If you’re looking for low volatility, then EOS might not be the greatest option, considering that the EOS price had large swings in 2018 and 2019. However, its growth proposition is rather large and has the potential to disrupt multiple industries. If that becomes the case, it’d probably be wise to include EOS in your portfolio.

3 thoughts on “How to Buy EOS in 5 Minutes

    1. Hello Persie781, EOS and Ethereum are separate cryptocurrencies. So much so, in fact, that EOS is actually considered as a very strong competitor of Ethereum. Both of these cryptocurrencies have their own unique features which attract a specific segment of the market.

  1. Has anyone bought EOS with Neteller? I am thinking of buying it, but not sure whether to do it with Neteller or with a credit card. Experiences?

Leave a Reply

Your email address will not be published. Required fields are marked *