The Complete Guide to Buying EOS Cryptocurrency – Bitcoin – Bitcoin 2020

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Do you want to buy EOS to diversify your cryptocurrency wallet? If you want information on how to buy EOS as well as a list of buying platforms, read this article!

Buying EOS on exchange platforms: instructions for use

What is a buying platform?

What is a cryptocurrency buying platform? This is a site that buyers and sellers of virtual currencies go to to buy and sell Bitcoin, Dash or EOS. These platforms are very numerous, hence the difficulty for a new investor to find their way there and make the right choice of EOS buying platform, especially in terms of security.

The entry into force of the Sapin law 2 in 2016 gives toFinancial markets authority (AMF) the possibility of authorizing or not the operation of a platform. The goal of the legislator is to increase transparency around cryptoactive agents to limit their abuse.

As an oversight body, the AMF recommends that you make sure that the platform in which you wish to invest is included in the list of providers authorized to deliver investment services in France. How? ‘Or’ What ? You can for example use the Regafi register.

Regafi registry page

What are the different categories of EOS buying platforms?

There are several kinds of platforms for obtaining EOS, including:

Purchasing platforms

These trading platforms, likeeToro, of Kraken, of Gemini, of CEX.IO, or even Coinbase, link sellers and buyers. These sites derive their income from the commissions deducted from each transaction. This is something to take into account when choosing your platform according to the budget you want to allocate to your trading activity. Buying platforms allow you to buy cryptocurrencies with institutionalized currency, such as the euro, dollar, etc.

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Cryptocurrency exchange platforms

These exchange platforms are sites that allow one to obtain a cryptocurrency via exchanges with other cryptocurrencies. Whether on KuCoin or Binance, so you can get EOS if you already have Bitcoin, Ether or other cryptocurrencies in your wallet.

Remember that a wallet is a cryptocurrency storage tool, and there are several types available to you, depending on your trading frequency.

To know : On trading platforms, the price of the EOS (its value) and that of the cryptocurrency you trade will have an impact on what you will get in EOS. The value of EOS will also have an impact on what you get when you buy it with fiat money.

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EOS purchasing platform: how does it work?

From the registration to the platform to the purchase of EOS, here are the main steps to follow:

Registration

As with many platforms, you will first need to go through the registration phase. For security reasons, remember to verify that the chosen platform is part of the AMF’s white list. Then fill in the information requested on the membership form. Once the registration validation has been obtained (remember to check your mailbox, platforms generally ask for validation by email), do not hesitate to take a walk on the platform to quickly understand its workings.

Here, an example of registration on eToro:

Example of registration page (eToro)

Verification of personal data

At the same time, some platforms verify the veracity of your personal data, as it has the obligation to do, via a procedure KYC. This is particularly the case with supporting identity documents that you have submitted (identity card to be scanned or downloaded). In addition, they will offer two-factor authentication, which will enhance your account security. It is simply a configuration of connection via two means (for example: the classic password + a code sent by message to your phone)

Here is an example of configuration of this verification on Coinbase:

Two-step verification setup on Coinbase

Selection of the type of deposit

Regarding purchasing platforms, although there are several payment solutions for depositing money, not all of them are made available to you depending on the platform chosen. Bank cards, SEPA transfers, PayPal: think about the type of deposit you want to make and indicate it to the purchasing platform.

Be careful to check the cost of each payment method which varies from one option to another and from one site to another.

Depositing funds on eToro

FIAT currency deposit

Deposit money, in euros or in the currency of your choice, by checking the list of currencies accepted by the exchange platform. If, for example, it does not take euros, you will first need to convert your money into dollars, taking into account the exchange rate and the costs involved.

Regarding cryptocurrency exchange platforms, you will first need to make a deposit of cryptocurrency that you want to exchange from your wallet (your means of storing cryptocurrencies).

Purchase of EOS

When the deposit payment is effective, the adventure begins by buying your first EOS! This step is an opportunity to come back to a recommendation: do not leave your virtual currency on the platform, but rather recover it to store it in an external cryptocurrency wallet.

How to choose the right exchange platform?

The ideal and absolute trading platform does not exist on the market. Why ? Because this choice depends on several parameters, everyone’s activity and your knowledge. Here are some criteria for choosing your EOS purchasing platform!

Guarantees

Verification of your personal data and your identity is not the most enjoyable part of your user experience, but is essential. Compliance with the regulatory framework is a pledge of confidence, knowing that many so-called crypto asset trading sites are actually run by unscrupulous people. Even if you are anxious to buy EOS, think carefully about the platform and start gathering the supporting documents to waste as little time as possible.

Fame

Reputation has no equivalent on the Internet, especially if you are just starting out in buying a cryptocurrency. And since you are not alone in your questions, do not hesitate to browse the discussion forums and the posts of specialized sites, which give an informed opinion on the subject. They decipher the advantages and disadvantages of a platform, and list the positive and negative feedback.

Payment terms

This is a very important criterion. Not all platforms offer the same payment methods. Take the time to see which modality suits you and especially if it is accessible on the site you have chosen (payment by bank cards, by bank transfers, by online payments like PayPal or Skrill).

Expenses

Yes, buying EOS on virtual currency platforms is not free! Between deposit fees, transaction fees, and withdrawal fees, you may have less room for maneuver than expected for your online trading budget. Therefore, be sure to compare the punctuated commissions, which will allow you to make an inventory of the market and a comparison to save money.

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The exchange rate

The exchange rate also contributes to the costs to anticipate when buying EOS. If the euro is not admissible by the platform, you will have to pay your EOS in a foreign currency. Consequence: you will have to include exchange rate fees in your operations depending on the site you use. This commission involves a slight additional puzzle that you must be able to anticipate to avoid unpleasant surprises!

Geographical areas

Certain purchasing platforms are only accessible in a specific geographic area, and not all over the world. In other words: in France, you may not be able to use the platform that interests you, because it may only be available for American or Asian traders. So remember to find out about the platforms you can use.

How do I buy EOS using different payment methods?

From online payment solutions to the use of bank cards, let’s take stock of the various payment methods to acquire EOS, by taking eToro as an example, which is one of the platforms offering the most means of payment.

Credit card

Credit card purchase

The credit card remains the simplest solution for investing in EOS. Credit card or debit card, many platforms accept this method of purchasing EOS, with or without fees:

  • Log into your personal account;
  • Choose the deposit amount and currency in the “Funds deposit” screen;
  • Select from the drop-down menu “Debit / credit card”;
  • Enter your bank details;
  • Confirm the transaction.

PayPal

Purchase of a cryptocurrency by PayPal

Being one of the best known online payment service companies in the world, PayPal can be a good solution for getting EOS. In fact, thanks to this system, there is no need to enter your bank details directly in a purchasing platform.

For the purchase of EOS with PayPal:

  • Choose the deposit amount and currency in the “Funds deposit” screen;
  • Select from the drop-down menu “PayPal” which will direct you to the PayPal site;
  • Confirm the transaction.

Skrill

The Skrill app

Skrill is a British company which offers banking services. Their online service makes it possible to receive and send money instantly. Also, prepaid Skrill cards are available. For the purchase of the EOS with Skrill:

  • Choose the deposit amount and currency in the “Funds deposit” screen;
  • Select from the drop-down menu “Skrill”, which redirects you to the Skrill site;
  • Confirm the transaction.

Neteller

Neteller platform

Neteller is an electronic money transfer service. Considered a world leader in financial services, it also offers an online payment service as well as prepaid cards.

For the purchase of EOS with Neteller:

  • Choose the deposit amount and currency in the “Funds deposit” screen;
  • Select from the drop-down menu “Neteller”;
  • Enter your Neteller ID and your secureID;
  • Confirm the transaction.

Cash

Buy EOS in cash

Although it is not possible to buy EOS online directly with cash, there is a trick that will still allow you to get EOS:

  • Purchase Bitcoins from a distributor or through a peer-to-peer reseller on a platform like localbitcoins.com ;
  • Exchange your Bitcoins in EOS on a trading platform such as Binance.

Store your EOS in a wallet!

Despite all their qualities, cryptocurrency trading platforms should not host your EOS. Neither secure wallets nor inviolable safes, they are potentially subject to computer attacks or even impromptu closings. Consequence: goodbye to your virtual currency. So, get an EOS wallet to store your crypto assets with maximum security. What are the wallets you can use?

Which EOS wallet to choose?

There are two categories of EOS wallets on the market: online wallets and offline wallets.

Online portfolios

Online wallets, also called hot wallets, are by definition the least secure, since they are found directly on the Internet. Like platforms, they are likely to be targeted by hackers who want to take over your cryptocurrencies. In this category, we will distinguish:

  • Office portfolios like Electrum or Exodus ;
  • Online wallets integrated into platforms such as Binance or Coinbase, which authorize transactions;
  • Multiwallet portfolios like Jaxx or Coinomi which are characterized by their versatility;
  • Mobile wallets, which are applications to download.
Hot wallet

Depending on the type of wallet you use, their level of security is higher or lower. These online wallets can be multi-currency and often have the advantage of being very easy to use, which is valuable for those who engage in EOS trading on a daily basis. They allow Internet users to quickly make their transactions. However, letting your EOS wander around in nature after buying it remains dangerous: it is better to protect it as little as possible using a desktop wallet or a mobile wallet.

Offline portfolios

Offline portfolios, also known as cold wallets, are much more privileged portfolios. Their level of security is high since they are disconnected from the web and the potential dangers of the web. They come in several forms: USB key, paper, etc. To obtain them, you can either go to a store or buy them online. The best known models are developed by brands Trezor and Ledger. Online wallets are the ideal solution for people with a large amount of cryptocurrencies.

Use of a hardware wallet

Advice : If you choose the cold wallet option for your EOS, think about adopting good habits by avoiding plugging your hardware wallet too frequently, because each connection is synonymous with possible attack. Make sure to secure your recovery phase in the safest place possible!

How to choose my EOS wallet?

In summary, the choice of an EOS wallet depends on several elements:

  • The degree of security to secure your EOS;
  • Your activity of trade ;
  • The aspect convenient (connection, transport) for your everyday comfort of use;
  • The features wanted based on your experience in purchasing the EOS;
  • The simplicity of the interface and the fluidity especially if you’re new to EOS.

Why buy EOS?

The universe of virtual currencies is vast and the question of whether to invest in EOS rather than other cryptocurrencies is a legitimate one. Besides, EOS is newcomer on the market since the blockchain was launched in 2018 with the ambition to compete with a large cryptocurrency: the Ethereum (ETH).

An ambitious and acclaimed EOS project

The project started with the publication of a white paper in 2017. The company block.one then went from theory to practice by opening its platform EOS.IO and making free software available the following year. This launch was accompanied by a distribution of one billion tokens on the Ethereum blockchain. Recall that the blockchain is a place storing all the information relating to a project and its cryptocurrency.

This blockchain of 3e generation, nicknamed “ the ethereum killer “, Organized the biggest ICO (Initial Coin Offering, this is a fundraiser in cryptocurrency) from the world, raising $ 4 billion. Its instigators work to solve several problems encountered by the Ethereum blockchain, including the scalability, that is, the ability to accept millions of users in real time, and the cost of maintenance.

Blockchain representation

EOS asserts itself as a decentralized operating system offering the opportunity for new applications deployed by developers to interact with each other. The consensus mechanism which is based on evidence of delegated stake (DPoS), developed by the leader of the EOS project, Daniel Larimer, is one of the strengths of the EOS blockchain. This mechanism puts forward delegates who are responsible for managing changes within the blockchain.

EOS cryptocurrency quickly met with success by settling in the top 10 cryptocurrencies to follow.

The advantages of buying EOS?

Here are the arguments in favor of buying EOS:

  • A project based on a recognized personality: Daniel Larimer;
  • Very high transaction speed;
  • Significant bandwidth which boosts network responsiveness;
  • No blockchain user fees, which attracts developers;
  • An ability to update the network in order to develop scalable apps;
  • Transparency in fixing bugs.

EOS is one of the fairly recent projects in the cryptocurrency community. And yet the project has already reached the 5e place du Markercap. So buying EOS to diversify your crypto wallet is undoubtedly a good idea, but be careful to only spend what you can lose. Given his seniority, it’s normal to wonder what’s going on future of EOS.

The Complete Guide to Buying EOS Cryptocurrency – Bitcoin – Bitcoin 2020
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