EOS Coin Buying Guide | Paypal, Credit Card & SEPA
Have you read up on the EOS project and find it interesting? Then you probably now have two questions: How and where can you buy EOS? In this article we will show you our preferred ways of buying EOS and the most secure way to "store" the crypto currency.
Are you too late to buy EOS?
The EOS ICO officially ended in June 2018 and the crypto currency has only been publicly accessible for about a year. The public EOS Blockchain was supposed to start in June and afterwards projects were started to build on it. The point is that the EOS project is still at a very early stage, while competitors such as Ethereum have been around for quite some time and many projects are already using their solutions. EOS, on the other hand, is still in the introductory phase.
Nevertheless, many in the crypto-currency community were impressed by the EOS project and its technology and called it the "Ethereum Killer". Time will tell if the project will be successful or even replace Ethereum as the leading platform for application development. Measured by the expectation of success, EOS has already become the fifth largest crypto currency.
EOS launched its ICO in June 2017 and traded on crypto currency exchanges for the first time in July 2017. The token cost only $1.03. Since then, the project has experienced rapid growth, reaching all-time highs of $18.05 in January 2018. Since then, the price has dropped significantly and at this point the coin can be bought for $2.89.
Considering that the project is still in the introductory phase, it is not too late to buy EOS. It is important that you buy coins at a reasonable price and that you do not worry about being late or not.
How high could EOS rise?
No one can predict 100% the future of a crypto currency. It is quite possible that the EOS project will fail, for example, and the coin will be absolutely worthless.
When it comes to the potential of a crypto currency, the team at BC1 likes to look at the ratings of the competitors that the project tries to outperform. Since EOS is a platform for application development and is already Ethereum's strongest competitor, it is easy to conclude that EOS has started the battle for dominance with Ethereum.
Ethereum has already shown in January 2018 that it is capable of achieving an unprecedented market capitalisation of 139 billion US dollars. Let us imagine a scenario in which the entire crypto-currency market does not grow and EOS takes over the entire market share and valuation of Ethereum. What could the coin be worth?
If EOS exploits its potential and becomes the largest application development platform in the crypto-currency space, then such returns are certainly out of the question. If crypto-currencies are used even more widely in the future, then there is the potential for much higher returns. It all depends on whether public block chain application development platforms like EOS are accepted by the whole world.
Bitcoin-News.one cannot predict what the future will bring for EOS, but if EOS meets the expectations of the crypto-currency community, the coin can indeed be very valuable.
How to buy EOS-Coins - Our top 3 ways briefly explained
Which of the following options you choose is entirely up to you. It depends on what you feel most comfortable with.
- How to buy EOS-Coins with normal currency (e.g. USD, EUR & GBP) To do this, you need to create an account with Coinbase and a crypto currency exchange, e.g. Binance. Unfortunately, there is no way to buy EOS through a single account.
- Our second method is for those who already own a crypto currency and want to trade it for EOS.
- The last method to get an exposure to EOS is the CFD Broker IQ Option. This is actually the easiest way, as you only need an account, do not need to worry about wallets and can deposit USD, EUR or GBP directly.
Buy EOS with USD, EUR or GBP
This method is perfect for those who are just getting into crypto currency. To take the leap, you need to create an account on Coinbase and a crypto currency exchange. Even if this may sound a bit complicated, our step by step guide will lead you effortlessly through the procedure.
Buying with Crypto
The crypto veterans among you can skip the chapter on Coinbase.
Create a Coinbase account
- History: Coinbase was founded in 2012 and is the most popular crypto currency exchange worldwide
- Investors: Coinbase has strong investors like the venture capital companyIVP, the New York Stock Exchange and other companies
- Simple: Coinbase is known and loved for its easy to use interface
- Minimum deposit: You can already invest with amounts from 6€ in crypto currencies on Coinbase
- Regulated: Coinbase is one of the few crypto currency exchanges that's regulated
- Insurance: Client funds are insured and segregated
- Deposit methods: credit/debit card, bank transfer and PayPal for US customers
- Tradable crypto currency: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic. Litecoin, 0x and more coming
Need help setting up an account? Just take a look at our comprehensive Coinbase guide!
Now the first step is done and you are ready for your first crypto currencies. But you might ask yourself, where can I find EOS on Coinbase now? EOS itself is not directly available at Coinbase. To get EOS, you first have to buy Bitcoin or Ethereum on Coinbase and then send these coins to a stock exchange to buy EOS with BTC or ETH.
The fastest way to purchase BTC or ETH on Coinbase
- Go to the buy/sell page in your account.
- Add a payment method to your Coinbase account.
- You can now choose between different payment methods: credit card payment or bank transfer. One factor that is important when deciding is how urgently you need your coins. A bank transfer has lower deposit fees, but it takes between 2 and 5 days until your cryptocurrency is credited to your Coinbase account.
- Option 2: You can deposit money with a credit or debit card. You pay a fee of about 3%, but receive your coins directly.
Both methods are easy to use and ensure that your money lands safely on your Coinbase account. After the deposit you will receive an email informing you when your deposit was successful.
- Once your account is loaded, select Bitcoin or Ethereum in the "Buy/Sell" section.
- Enter the amount for which you would like to buy Bitcoin, for example.
- Choose the currency wallet you deposited in as your payment method (in this example we used EUR).
- Complete your order by clicking on "Buy".
Do you want to buy crypto currencies on Coinbase even cheaper?
Then take a look at our Coinbase Guide. Here we show you how you can send your funds to the subsidiary Coinbase Pro with a little more effort. On Coinbase Pro you can save money with every single purchase, trade or sending of Coins.
Once you have successfully purchased Ethereum or Bitcoin on Coinbase, you are ready for the next step.
Setting up an EOS Wallet
Currently EOS is an ERC-20 token. This means that EOS can be stored in an Ethereum wallet. We recommend that you use MyEtherWallet. It is the most popular Ethereum wallet and completely free of charge.
Use our step by step guide to set up MyEtherWallet.
Once your MyEtherWallet is set up and ready for use, you can get an overview by going to the View Wallet Info section of MyEtherWallet and logging in. Click the "View All Tokens" button.
Simply scroll through the list of tokens until you see EOS and click 'Load' to view your token balance.
How can EOS be stored in the safest way?
For saving your EOS-Coins we like MyEtherWallet as a free option. However, there are many hackers who are currently targeting crypto currencies, and this problem is likely to get worse as crypto currency prices increase. This means that security should be taken seriously.
The most secure wallet on the market is currently a hardware wallet device. This stores your private keys on the device and protects it from attacks such as keyloggers and pishing attempts. For example, your computer can contain a lot of viruses, but with a hardware wallet your crypto should be secure. Bitcoin-News.one recommends using hardware wallets, but in the end it is of course up to you whether you want to invest the money.
The good news is that the Ethereum-based EOS is compatible with the two most popular hardware wallets on the market. We currently use both a Trezor and a Ledger itself and are happy to recommend both devices. Do you need help choosing the hardware wallet that best suits your needs? Just have a look at our comparison article Ledger vs. Trezor.
Do you need help setting up your ledger? Just take a look at our step-by-step instructions.
Need help setting up your Trezor? Just take a look at our step-by-step instructions.
Create a Binance account
By now you should have set up Ethereum or Bitcoin on Coinbase and your EOS wallet. Now is the time to set up your crypto-currency exchange account so that you can trade Bitcoin or Ethereum against EOS. We don't think you can go wrong with Binance and therefore recommend the exchange.
- The largest stock exchange in the world: Binance has the highest crypto trading volume in the world.
- The One-Stop-Shop: Over 100 different crypto currencies are available on the exchange.
- Easy to operate: The exchange has received much praise for being simple and straightforward.
- Customer Support: Binance has invested in multilingual support.
Do you need help setting up a Binance account? Just take a look at our Binance Guide.
From Coinbase to Binance - Guide
You can get started as soon as your Binance account is fully set up. Whether you have your Bitcoin or Ethereum on Coinbase or in another wallet, you must send your coins to Binance to trade them for EOS.
- Log in to your Binance account.
- Select "Funds" and click on "Deposit".
- Make sure that you select the crypto currency that you have bought on Coinbase. If you choose the wrong crypto currency, you can lose your money!
- You will now see your Binance inpayment address. This address is your new individual wallet address to which you send your coins. Copy this address and go back to Coinbase. We have used Bitcoin in the example.
- Log in to Coinbase and go to the "Accounts" tab.
- Click on "Send" for the crypto currency from which you have just copied the wallet address (Binance).
- Enter your Binance inpayment address in the "Recipient" address field and enter the amount you wish to send.
- Click on "Next" and complete the transaction. Your coins should appear on Binance shortly.
You got cryptos in another wallet?
- Simply send your crypto to your Binance payment address.
How do you trade Bitcoin or Ethereum for EOS on Binance?
- Make sure that you are registered with Binance and go to the homepage. You will then see a list of markets and various crypto currencies. First you have to select the right market. Select "BTC Markets" for Bitcoin or "ETH Markets" for Ethereum. Then enter "EOS" in the search field.
- The"Binance Trading" screen appears. Select the 'Market' button to buy the EOS coin at the current market price. Then enter the quantity you wish to buy. Binance also gives you the option of using a percentage of your credit balance to purchase cryptos.
- Once you have clicked on the "Buy EOS" button, your purchase will be confirmed and your EOS Coins will appear in your account.
How do I send EOS to my wallet?
If you do not wish to continue trading with EOS immediately, we recommend that you keep EOS coins in a wallet. Binance is a natural target for hacker attacks and even if the stock exchange has first-class security, you should not take any risks.
- Log in to your MyEtherWallet and copy your public address
- Register with Binance.
- Navigate to "Funds" and click on the "Withdrawals" button.
- Select EOS from the drop-down list, then add your public MyEtherWallet address and enter the amount you wish to withdraw.
Important: Binance charges a fee for processing withdrawals. The fees change regularly. However, you can view the current payout fee for EOS coins here.
Perhaps the easiest way to buy and sell EOS.
Does our other method of buying EOS coins sound too complicated or time-consuming? Or would you like to concentrate on trading instead? If so, IQ Option could be the ideal solution for you. IQ Option is basically a contract for another broker, i.e. you won't have to own EOS directly or deal with its storage. Instead, you buy and sell contracts that are supported by EOS. This means that you know all the risks of EOS price fluctuations and can do so on a single account, which makes trading easier.
The advantages of IQ Option
- Unlike other crypto currency exchanges, IQ Option is regulated.
- There is a much wider choice of deposit options. For example, if you want to get in touch with NEO using payment methods such as Skrill or rNeteller, then IQ Option is for you.
- Compared to other crypto currency exchanges, customer support at IQ Option is much better.
- With CFD brokers like IQ Option, you don't have to worry about storage options for your cryptos, such as setting up wallets.
IQ Option Details:
- Established - IQ Option was founded in 2013.
- Global presence - IQ Option has an amazing global presence serving and counting 231 countries. With over 25 million registered users, you know you are in good hands with one of the largest CFD brokers in the market.
- Tradable Crypto Currencies - IQ Option has the largest selection of crypto currencies offered by any CFD broker we know. These include: Ripple, Bitcoin, Bitcoin Cash, Litecoin, NEO, Stellar, EOS, Dash, Ethereum Classic, Tron, OmiseGo, Qtum, Zcash and Bitcoin Gold. This makes IQ Option the perfect choice for anyone interested in the opportunity to invest in a wider range of crypto currencies.
- Lowest minimum deposit requirement - IQ Option gives everyone the opportunity to participate in crypto currency trading with a minimum deposit of $10.
- Deposit Methods - IQ Option supports the following deposit methods: Visa, Maestro, Mastercard, Bank Transfer, Skrill Neteller, Webmoney & more.
- Customer support methods - telephone, mail and e-mail.
RISK WARNING: YOUR CAPITAL COULD BE AT RISK.
General Risk Warning: The financial products offered by the Company carry a high level of risk and may result in the loss of all your funds. You should never invest money that you cannot afford to lose.
Action seems difficult? - Find help!
The Bitcoin-News.one team can well understand that trading crypto currencies can be confusing and complicated. To help you understand this, we have prepared some assistance for you:
1. instruction for beginners for daily trading with crypto currencies.
2. Understanding technical analysis and trading strategies.
It is extremely important that you understand what you are doing before you make a trade with a CFD broker. You are risking real money.
Here you have our top 3 options for buying EOS. We at Bitcoin-News.one are very excited about the potential of the project and are very interested to see if EOS can be the 'Ethereum Killer' it is believed to be. For EOS to really compete with Ethereum, it will have to convince a considerable number of crypto-currency projects to rely on EOS rather than Ethereum. The first signs are encouraging, as the top 100 crypto-currencies have already declared that they want to build their product on the EOS block chain. In 2018 an interesting battle between the application development platforms was on the horizon and EOS has the opportunity to increase its dominance in the future.