How to Buy EOS (EOS)

Contributor, Benzinga

Want to jump straight to the answer? You can buy EOS on Coinbase or eToro!

EOS is focused on making decentralized applications easier to understand and more functional for corporate programmers. And interest in EOS has been steadily gaining momentum among investors and programmers alike. 

With its unique infrastructure, special attention to scalability issues and user-friendly interface, EOS may present a 1-of-a-kind opportunity for anyone interested in decentralized technology and its applications.

Are you interested in learning more about how to buy EOS? Our guide will introduce you to the factors that make this altcoin unique and offer basic steps to add EOS to your investing portfolio.

Brief History of EOS

EOS is the coin offering of EOS.io, a platform launched in June 2018 to help introduce developers to a simplified platform for building decentralized applications (DApps). A DApp is a computer application that has an operation network extended across a distribution of computer nodes instead of a singular, centralized point of operation.

The goal of EOS.io is relatively simple — make it as straightforward as possible for developers and programmers to create DApps that utilize blockchain technology. You can think of EOS.io as an operating system like Windows, while the EOS coin represents a stake on the network and makes it possible for users to execute their programs. 

Developers of EOS focus on providing a wealth of educational resources and a straightforward platform that make EOS.io easier to operate than competitors. EOS also aims to expand blockchain technology to corporate infrastructures as well. Scalability is a key priority of developers, who focus on offering faster transactions speeds and more transfers initiated per second. 

How to Buy EOS

  1. Open an Online Account

    The easiest way to purchase any type of cryptocurrency is to open an account with a crypto broker that offers access to the coins and tokens that you’d like to add to your portfolio. Crypto brokers work in a very straightforward manner. 

    To get started, you’ll link a payment method — depending on the broker, you might be able to purchase cryptocurrency with a debit or credit card, bank transfer or using a service like PayPal. From here, you’ll place an order using your broker’s trading platform. Your broker will buy or sell your cryptocurrency of choice according to the directions in the order you place.

    EOS is currently the 16th largest cryptocurrency when measured by total market capitalization. This means that you’ll have a few different choices when it comes to selecting a broker to carry out your trades. 

  2. Buy a Wallet

    After you decide where you want to buy and sell your cryptocurrencies, it’s a good idea to open a private wallet to store your coins and tokens. A cryptocurrency wallet is a computer program or a device that uses a private set of keys to store your coins. Cryptocurrency wallets keep your coins and tokens safer than on-exchange wallets by lowering the possibility that you lose your money in a hack or exchange theft.

    There are 2 major types of crypto wallets: hardware and software. Hardware wallets are physical devices that store your cryptocurrency offline, while software wallets are applications that must be connected to the internet to access your investments. 

    Both types of wallets come with their own benefits and drawbacks. For example, though software wallets are free, they don’t provide you with the top-level security that hardware wallets do.

    Some of the factors you might want to consider when you select a wallet may include:

    Price. If you’ve decided to invest in a hardware wallet, it’s a good idea to set a budget beforehand. Top of the line models regularly cost upwards of $100, while lower-end models usually cost around $50. If you’re looking for a quick and free way to store your coins, consider opening a software wallet for now.
    Touchscreen access. Looking for a way to manage your coins while traveling? Consider investing in a wallet that includes a touchscreen or screen directly on the device. This allows you to view your coins without connecting to a local Wi-Fi connection or using your cell phone data.

    Support for all of your coins and tokens. Not every cryptocurrency wallet supports every project on the market. Be sure that your wallet of choice supports the cryptocurrencies you’ve invested in before you transfer out of your exchange wallet. You may want to send a small amount of crypto to be sure that you’ve got the right wallet address before you finalize your token transfer.

  3. Make Your Purchase

    When you’ve funded your account and decided how you want to store your coins, you’re finally ready to make your purchase. Start by deciding how much money you want to invest in EOS and use the current market rate of the coin to determine how many coins you can purchase. You might want to spend some time monitoring how prices are changing before you place your purchase order to be sure that you’re getting the most for your investment.

    After placing your order through your broker’s trading platform, your broker will carry out the order. When your order is filled, you’ll see your EOS in your brokerage account. To transfer your coins to your private wallet, search for your wallet address and initiate a transfer from your brokerage account to your wallet. 

    Double-check that you have the correct address before you initiate the transfer — if you send your cryptocurrency to the wrong wallet address, it’s virtually impossible to get it back.

    The EOS public blockchain has recently announced that it is in the process of adding Google Cloud as a Block Producer Candidate, which may indicate more implementation of EOS’s technology. You can follow this development and other projects through EOS.io’s website.

Best Cryptocurrency Platforms For EOS Token

Depending on your needs as an investor, the best trading platform for you may differ from the best trading platform for someone else. If you’re located inside the United States, it’s a good idea to use a U.S-based crypto exchange like Coinbase or Gemini. Coinbase lets you earn free crypto in its Coinbase Learn program, and Gemini offers interest bearing accounts to grow your digital asset holdings passively.

If you’re looking to invest over the long-term, then iTrustCapital is a great option. iTrustCapital is an investment retirement account, giving you huge tax benefits when compared to a traditional brokerage account. While the platform doesn’t offer EOS, you can invest in major cryptos like Bitcoin and Ethereum.

earn free crypto securely through Coinbase’s website
Best For
Coinbase Learn
N/A
1 Minute Review

Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. 

You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.

Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.

Best For
  • New cryptocurrency traders
  • Cryptocurrency traders interested in major pairs
  • Cryptocurrency traders interested in a simple platform
Pros
  • Simple platform is easy to operate
  • Comprehensive mobile app mirrors desktop functionality
  • Coinbase Earn feature rewards you with crypto for learning about available coins
Cons
  • Higher fees than competitors
Invest In Crypto securely through Gemini Crypto’s website
Best For
New Investors
N/A
1 Minute Review

Gemini is a cryptocurrency exchange and custodian that offers investors access to over 100 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.

Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader. 

In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

Best For
  • New investors looking for a simple mobile and web app
  • Day traders looking to use technical analysis tools
  • Users looking for a 1-stop-shop to buy, sell and store all of their cryptos
Pros
  • Easy and quick signups — can get started in as little as a 5 minutes
  • Multitude of platforms to accommodate traders of all skill levels
  • Hot wallets include insurance to protect your from theft and hacking attempts
Cons
  • Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app
get started securely through iTrustCapital’s website
Best For
Beginner cryptocurrency investors
N/A
1 Minute Review

iTrustCapital is a self-directed IRA provider that gives you the opportunity to invest in cryptocurrencies, gold and silver through your retirement account. iTrustCapital focuses on providing investors with a straightforward and easy-to-understand platform, which can be a major asset if you’ve never bought or sold alternative investments in the past. 

When you reach retirement age, iTrustCapital allows you to choose whether you’d like to take your disbursements in cash or in the assets you’ve invested in. Though the platform does offer a limited range of cryptocurrencies when compared to brokers like Coinbase, its simple structure and unique IRA offerings make iTrustCapital a great place to invest.

Best For
  • Investors who want to add gold, silver or cryptocurrencies to their IRA
  • Those who are interested in taking a long-term approach to cryptocurrency or metal investing
  • Beginner cryptocurrency investors
Pros
  • Straightforward platform allows you to buy and sell assets in a few minutes
  • Orders clear within 5 minutes
  • 24/7 order placements and portfolio monitoring services
  • Both live chat and phone customer service service available
Cons
  • Limited number of cryptocurrencies to buy and sell
  • No mobile app currently available

Best Crypto Wallets

Not sure where to start searching for a wallet? Consider our favorite hardware and software options below. Both of these options support EOS tokens. 

Best Hardware Wallet: Trezor Model T

If you’re searching for a comprehensive device that you can use to store virtually any type of cryptocurrency, look no further than the Trezor Model T. The Model T is a hardware device that features a touchscreen display and a private set of keys to ensure that only you have access to your coins and tokens.

The Trezor Model T can also be an ideal choice for new cryptocurrency investors thanks to its simple 3-step setup. Connect the device to your computer or phone, visit trezor.io/start and follow the on-screen instructions to complete your setup. Most users will have a fully-functional hardware wallet in as little as a few minutes.  

Best Software Wallet: Atomic Wallet 

Atomic Wallet is a desktop and mobile application that allows you to store EOS, Bitcoin, Ethereum and dozens of other coins and tokens. Manage, stake, purchase and exchange your coins from a single simple, easy-to-navigate platform that’s ideal for both experienced investors and new ones alike. 

Atomic Wallet also features an in-app exchange that allows you to directly buy and sell tokens and coins without connecting to a new exchange. This can make it more affordable to exchange your cryptocurrency, as you’d typically need to pay a fee when transferring to your wallet and when transferring to your exchange. 

Atomic Wallet even supports a few of the 1st staking options, allowing you to earn crypto while you safely store your coins. 

Trade or Sell Your Cryptocurrency

Though most investors choose to hang onto their cryptocurrency in their private wallet, you can also take advantage of short-term price movements by becoming an active investor. 

By monitoring how the price of EOS is changing over time, you can convert your investment to a stablecoin when the price is high and back to EOS when the price falls again. This allows you to accumulate more EOS coins, which you can then transfer to your long-term investment wallet or cash out to take profits.

Below you can browse a few of our favorite brokers offering trading platforms suitable for active investors.  

Current Crypto Prices

The cryptocurrency market is exceptionally volatile, and coin prices change on a daily, hourly and even minute-by-minute basis. Learn more about how the market is moving today with our summary below.    

Moving Into the Cryptocurrency Market

Just like you know you need to diversify your retirement accounts, you should also take steps to diversify your cryptocurrency holdings as well. There are distinct differences between the stock market and the cryptocurrency market; the crypto markets are open 24/7, whereas stocks only operate during trading hours. Also, cryptocurrencies are much more volatile than other asset classes. While there is more risk involved with buying digital assets, the payoff could be well worth it.

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