Electro-optical System (EOS) is a blockchain-based architecture that allows developers to create, host, and run decentralized apps. Dan Larimer, the co-founder of Bitshares and Steemit, is the brain behind EOS.
EOS, like Ethereum, provides an operating system that makes the process of developing Decentralized Applications, or DApps, much easier. Unlike Ethereum, though, EOS aims to be more scalable and versatile, making it easier for developers to create decentralized apps.
In this guide, we’ll cover where to buy EOS at regulated crypto exchanges and ask is EOS a good investment.
How to Buy EOS – Quick Steps
If you’re looking to buy EOS with low fees, follow the steps below:
- Step 1 – Create a trading account: To begin, sign up for a crypto trading platform and fill in the required information. Upload a copy of your ID to authenticate your account.
- Step 2 – Deposit Funds in your account: Many platforms charge no or low fees for USD deposits, and the minimum deposit can be as low as $10. You may be able to use a debit/credit card, PayPal, bank wire, or eWallet.
- Step 3 – Search for EOS coin: Search for ‘EOS’ and click ‘Trade’.
- Step 4 – Buy EOS: Enter much money you want to use to buy EOS then click ‘Open Trade.’
Where to Buy EOS Coin – Best Platforms Reviewed
The platforms below made our top ten list of the best crypto exchanges and have all listed EOS:
1. Crypto.com – Margin Trade EOS on Leverage
Crypto.com is a good alternative and worth opening a second account as it’s also a derivatives platform with perpetual futures pairs.
It also has some unique aspects, thanks to its multiple benefits and features. For example, holding a large amount of CRO, Crypto.com’s own cryptocurrency means lower trading fees and greater rewards on the Crypto.com Visa card which you can use to pay for items in stores with your crypto funds.
Crypto.com’s creators anticipate a future in which cryptocurrency is a common investment class rather than a novelty. Crypto.com can assist you in incorporating cryptocurrencies into your financial life, it’s also a platform to earn interest on crypto even without trading.
Trading fees are lower than those charged by several significant industry competitors. On trades with a total monthly trading volume of less than $25,000, new Crypto.com customers without any CRO staking will be charged 0.4 percent.
To keep user accounts safe, Crypto.com employs a variety of security procedures, including multi-factor authentication (MFA) and whitelisting.
Crypto.com also allows users to connect different digital wallets to their accounts, as well as offering its own crypto holding tools. The Crypto.com DeFi Wallet is one of them, which allows users to earn rewards on tokens used in blockchain-based decentralized finance applications.
Cryptoassets are a highly volatile unregulated investment product.
2. Coinbase – One of the most renowned names in Crypto space
Coinbase was founded in 2012, three years after Bitcoin was created, and has since grown to become the
largest cryptocurrency exchange in the United States by number of users, with over 73 million verified users in over 100 countries.
While Coinbase’s transaction and trading costs are greater than those of some of its competitors, it remains one of the most popular crypto investment platforms.
It also offers a free signup bonus of $10 to test out the Coinbase platform.
Coinbase has one of the lowest minimum balance requirements of any cryptocurrency exchange, at just $2, making it an appealing option for beginning investors.
Users can earn Stellar Lumens, the Flexa Network’s Amp tokens, and the Graph’s GRT tokens through the Coinbase Earn tool, which allows users to view brief educational films, complete tiny quizzes about them, and earn free crypto assets.
When it comes to consumer security, Coinbase employs industry-leading security standards to safeguard customer funds and assets.
Cryptoassets are a highly volatile unregulated investment product.
3. Binance – Most trusted crypto platform worldwide
Binance is another popular crypto exchange to consider. According to CoinMarketCap, Binance is the largest cryptocurrency exchange in the world in terms of volume, with over $19.7 billion in trading volume in the last 24 hours.
Over 600 cryptos, including niche cryptocurrencies and ERC-20 tokens, are available to invest in on this exchange. Binance only charges a 0.1 percent cost when opening and closing a trade, therefore all of these cryptos can be exchanged with low fees – for example, EOS can be traded on an EOS / USDT pair (against Tether), and against ETH, BUSD, USDC, BTC, and fiat currency.
Users can save an additional 25% on fees provided they possess BNB which is Binance’s native cryptocurrency. Also, sign up via a Binance referral link for additional trading fee discounts.
Binance accepts free crypto deposits and FIAT deposits, which are likewise free provided you fund your account in US dollars. Trust Wallet is Binance’s official wallet, a free app for storing crypto that has received great ratings on Google Play and App Store.
Cryptoassets are a highly volatile unregulated investment product.
What Is EOS?
The EOS cryptocurrency, which was launched in July 2017, is the token for the EOSIO network. EOSIO, like Ethereum and NEO, allows developers to create blockchain-based applications, with a focus on decentralized apps (DApps), smart contracts, and decentralized autonomous businesses.
EOS.io intends to provide developers with easy-to-use tools for constructing DApps by combining aspects from both the Ethereum and Bitcoin blockchain platforms.
The EOS crypto was once ranked within the top 10 of all cryptos on Coinmarketcap, but has underperformed BTC and some of the top altcoins since 2021 and is currently ranked #51.
While most people are familiar with the financial part of cryptocurrencies, the blockchain component has contributed to the success of several of the most popular cryptos, like Ethereum, NEO, Ripple Labs, and Stellar. These firms facilitate the development of real-world blockchain applications in addition to cryptocurrencies with large market capitalizations.
Block.one made its EOS token available via an Initial Coin Offering (ICO) that lasted over a year and raised $700 million to ensure it cast a wide net when launching its development platform.
The project was a huge success. The revenues from the ICO will be used to further build Block.one’s EOS.IO platform, according to the company.
Is EOS a Good Investment?
EOS is widely regarded as a key and direct competitor to Ethereum, which has a wide range of applications in the decentralized finance sector. EOS promises to be better and faster than Ethereum, which now offers 15 transactions per second, with millions of transactions per second being the goal.
EOS is the second-most popular decentralized app development platform as of 1 April 2022, according to data from the State of the DApps. The platform has been used to launch a number of applications, with use cases ranging from gaming to NFTs.
In recent years, its price prognosis has stayed unchanged. Your expectations, circumstances, and risk tolerance will determine whether the EOS token is a good fit for your cryptocurrency portfolio. As a result, before investing, you should determine how much risk you are willing to take.
Transactions are free
The majority of blockchain solutions have transaction fees attached to them. This is not the case with EOS. EOS allows processes or services to be performed without incurring any expenditures. This translates to no transaction fees. For dApps service costs, the block-producer model will be employed.
Governance Structure Model
To keep EOS as adaptable as feasible, it employs a voting method based on a governance structure model. This means that the regulations can only be changed through a voting method. For a blockchain of this size, it’s a fantastic feature.
Change is sometimes required, and this is where it comes into play. Due to a lack of a voting mechanism governance model, Ethereum experienced this problem and failed to recognize it.
Ability to develop dApps
EOS allows developers to create full-fledged dApps. It functions as a decentralized platform, which means that anyone may create a decentralized application (dApp) and execute it on the EOS blockchain platform.
It functions similarly to an app store, with the exception of decentralization. Smart contracts are used to fuel dApps in most cases. Smart contracts, on the other hand, are not required with EOS. Instead of smart contracts, it employs dApp transactions, which are more efficient.
Faster Scaling Times
EOS is a very scalable platform. The EOSIO ecosystem has a maximum transaction rate of 10,000 per second (TPS). EOS, along with the TRON Network, is one of the few blockchains that has been able to eliminate transaction costs due to its unique structure. According to some sources, EOSIO has outperformed Ripple in terms of transaction speed. This explains the 820,502 transactions recorded in the last 24 hours.
Because EOS is both a transactional currency (utility token) and a network token, the cryptocurrency’s creators and users will continue to add more activity to the digital asset. The price of the crypto trading asset could rise to new heights in the future as a result of this demand.
Strong Collaborations
Cryptocurrency partnerships are critical market drivers. Galaxy Digital is one of EOS’s most well-known collaborations. This is a multi-strategy investing firm that specializes in digital assets and blockchain. SVK Crypto and FinLab are two others.
Blockchain technology and cryptocurrencies are gaining traction as a result of these collaborations. With further agreements leading to the formation of DAPPS in a variety of sectors, the potential for EOS as a cryptocurrency trading asset is high.
Quite convenient for developers
EOS is built in such a way that it is relatively simple to work with for developers. It comes with a web toolkit and built-in features like role-based permission systems. A developer may simply create dApps (decentralized applications) using these technologies.
Concerns regarding centralization
EOS governance is meant to have only 21 block producers at any given moment, and the network’s general operation is based on stakeholder voting.
The EOS platform’s democratic governance principle is called into doubt by the extremely limited number of block producers as well as the likelihood of low voting attendance. Furthermore, the fact that users can’t audit the network without operating a full node makes decentralization claims suspect.
The Co-Founder’s Exit
Dan Larimer, the business’s co-founder and CTO, is a blockchain enthusiast who believes that the majority of tokens should be distributed to the general public rather than being held by a single person or company. His resignation from the team on January 10th, 2021, did not bode well for EOS’s future, and the company’s lack of development since then has made his decision somewhat justified.
What are the risks of Buying EOS?
So, now that we’ve covered the key advantages of including EOS in your portfolio, let’s look at the main concerns to be aware of.
You will be able to make an informed decision about whether or not to acquire EOS currency today if you consider the hazards and risks described below.
Risk related to market sensitivity
The beta coefficient of EOS compares the volatility of the crypto coin to the systematic risk of the entire stock market, which is represented by your chosen benchmark.
In mathematical terms, beta is the slope of a line through a regression of data points, each of which represents the returns of the EOS crypto token versus your chosen market. In other words, EOS’s beta of 1.15 gives an investor an idea of how much risk the crypto coin might bring to one of their existing portfolios.
Volatility
The rate at which the price of EOS or any other equity instrument rises or falls for a given set of returns is known as volatility. It is calculated by calculating the standard deviation of annualized returns over a certain time period and indicates the price range in which EOS may rise or fall.
In other words, it works in a similar way to EOS’s beta indicator in that it assesses the risk of EOS and aids in the estimation of short-term volatility. So, if the price of EOS fluctuates swiftly over a short period of time, it is said to have high volatility, and if it swings slowly over a longer period, it is said to have moderate volatility.
EOS Price
EOS price history on CoinMarketCap
The current EOS price range in 2022 is $2.20 – $2.90. There are 986 million EOS coins currently in circulation, which is most of its total supply of 1,051,995,856 coins.
EOS’s initial coin offering (ICO) was a significant one. It took Block.one over a year to run an ICO for EOS that generated a record-breaking 7.12 million ETH, the Ethereum blockchain’s native currency, worth a whopping $4.2 billion back in 2017.
At the end of the ICO, 900 million tokens were distributed during 350 distribution periods, each involving the issuance of at least 2 million tokens. ICO participants received 90% of all EOS tokens, with the remaining 10% going to the EOS development team.
EOS is an inflationary asset because of its limitless production. Delegated Proof-of-Stake (DPoS) is a blockchain paradigm that uses staking incentives to generate EOS, which is then used to fund transactions and pay block users. The DPoS system has a 5-percent-per-year inflation cap.
EOS Price Prediction
EOS spiked to around $15 during the 2021 crypto bull run but since then has returned to its 2018 lows. The EOS / BTC pair has also been in a bearish downtrend since mid-2018.
In the long-term EOS may move up to retest its all-time high of just over $20 and the 0.001 level on the EOS / BTC pair, however at the current time there seems little investor interest in EOS.
Almost all of the total supply of EOC being already in circulation could, in theory, create a supply shock that results in the EOS token price moving up in value. Some would therefore argue now is a good time to ‘buy the dip’, with prices back at historical lows.
Check our list of the best DeFi cryptos, as decentralized finance-related projects are in high demand.
Ways of Buying EOS
If you do want to invest in EOS, let’s look at how you get your hands on EOS tokens in the first place. Your chosen payment method will determine the best way to purchase EOS. You can choose from the following deposit kinds when you use one of the top-rated brokers listed above:
Buy EOS with a Credit or Debit Card
On many platforms, you can purchase EOS with a credit card or debit card. The service is presently ranked as one of the best methods to buy EOS on the platform. Many traders choose to buy EOS with cards since they are convenient, the payment transmission is rapid, and the network charges low transaction fees.
Best EOS Wallet
The EOS wallet is a place where you can save your EOS currency. Numerous sorts of wallets may be used to store EOS in a secure manner. If you decide to acquire EOS to diversify your cryptocurrency portfolio, you’re definitely thinking about a secure storage option. Some of the best crypto wallets for EOS are EOS Authority Wallet, Ledger Nano X, Exodus, and Anchor.
Conclusion
EOS is one of the most commonly utilized blockchain platforms on the market. All blockchain-based decentralized applications provide services with real-world utility and benefits. EOS is a pioneer in the development of gaming and gambling software, as well as a wide range of other applications for ride-hailing, music sharing, fitness tracking, digital payment, and other uses.
EOS has upside potential in the future because of its capacity to disrupt sectors, however is yet to outperform Bitcoin and other cryptos in 2022. How much to invest in EOS depends on an investor’s risk appetite and comfort level.
Traditional blockchain apps have been quickly replaced by EOS dApps, which are safer, faster, and more inexpensive. EOS has emerged as a well-known name in blockchain technology, based on current trends, and could deliver benefits for a wide range of business demands in the future.