How To Buy EOS Cryptocurrency – Step by step guide

So you have done your research on the EOS project. You are likely to have two simple questions: How to buy EOS and where to buy it? In this article, we will show you our favorite ways of buying EOS and the safest way to store it.

Are You Too Late To Buy EOS?

EOS cryptocurrency rocket launch graphic

The EOS ICO does not officially end until June 1st 2018 and the cryptocurrency has only been available to the public for around a year. The EOS public blockchain is set to launch in June, after which projects will only then begin to build upon it. The point is that the EOS project is still at a very early stage whereas competitors like Ethereum have been around a while longer and have many projects already using their solution. EOS, on the other hand, is still at launch phase.

Nonetheless, many in the cryptocurrency community have been impressed by the EOS project and its technology, dubbing it ‘the Ethereum killer’. Only time will tell if the project will be successful or even supersede Ethereum as the number one application developer platform. What everyone can agree upon, is that it’s still early days for EOS and the cryptocurrency has risen to the 5th biggest cryptocurrency based on the expectation of its success.

EOS started their ICO on 26th June 2017 and was first traded on cryptocurrency exchanges on 1st July 2017. The token first traded on cryptocurrency exchanges priced at just $1.03. Since then, the project has seen a meteoric rise and has seen all-time highs of $18.05 recorded on the 13th January 2018. At the time of writing, the coin can be picked up at $15.04 and speculators are anticipating significant price increases before the EOS public blockchain launch on 2nd June.

Given how early stage the project is, you are not too late to buy EOS. As usual, the most important thing is to choose your entry point wisely and acquire coins at a reasonable price, rather than worrying if you are too late.

How High Could EOS Go?

This could be a $140 billion dollar question. The truth is no one knows how high any cryptocurrency might go in the future. It’s possible that the EOS project will fail and the coins be made worthless.

When it comes to a cryptocurrency’s potential, TotalCrypto like to look at the all time high valuation of competitors that the project is trying to usurp. As EOS is an application developer platform and is already Ethereum’s most valuable competitor, it is easy to conclude that EOS is beginning the battle with Ethereum for dominance.

Ethereum has already shown that it’s capable of posting a all time high market cap of $139 billion (which it achieved on 13th January 2018). For fun, we decided to assume that the overall cryptocurrency market does not grow (highly unlikely) and that EOS takes all of Ethereum’s market share and valuation. In this scenario what could one coin be worth?

How high could EOS go? Price projection calculations

If EOS realises thier potential and becomes the biggest application developer platform in the cryptocurrency space, then such returns are certainly not out of the question. Indeed, if cryptocurrencies are even more widely adopted in the future, then there is potential for much greater returns. It all depends on if public blockchain application developer platforms like EOS are adopted by the world at scale.  

Truly, we have not idea what EOS could be worth in the future. What we do know is that if EOS lives up to the expectations of the cryptocurrency community, then the coin will be very valuable indeed.

How To Buy EOS Coin – Our Top 3 Way Explained

EOS cryptocurrency gold coin

At TotalCrypto we have done the research on the easiest ways to buy EOS, so you don’t have to. It’s completely up to you to decide on the correct option.

  1. How to buy EOS coin with regular currency (for example; USD, EUR & GBP). To do this you will need to create an account at Coinbase and a cryptocurrency exchange. Unfortunately, there is no method to buy EOS using a single account.
  2. Our second method is for those that already own some cryptocurrency and want to trade this for EOS. We will show you the best and easiest cryptocurrency exchange to do this.
  3. The final method to get exposure to EOS is through the CFD Broker IQ Option. This is actually the easiest way to get exposure to EOS, as you only need one account, don’t need to bother with storage considerations and can deposit your USD, EUR or GBP directly.

Buying EOS With USD, EUR or GBP

This method is perfect for those just starting out on their cryptocurrency journey. To take the leap, you will need to create an account on Coinbase and a cryptocurrency exchange. We understand this sounds like a hassle, but our guide will take you through the steps you need to take to get started.

Buying With Crypto

The crypto veterans among you can just skip over all the Coinbase stuff. We know you have jumped through this hoop before.

Creating a Coinbase Account

Coinbase cryptocurrency exchange logo

Coinbase Key Facts

  • Established Track Record: Coinbase was founded in 2012 and is the world’s most popular cryptocurrency exchange.
  • Serious Backers: Venture capital firm IVP, who were involved in the latest funding round, have been early investors in businesses like Netflix and Twitter. Other investors include companies like the New York Stock Exchange.
  • Easy To Use: Coinbase is renowned for it’s easy to use interface. This makes it the perfect exchange for cryptocurrency newcomers.
  • Small Minimum Deposit: You can invest as little as €6 into cryptocurrencies on Coinbase.
  • Regulated: Coinbase is one of the few cryptocurrency exchanges to be regulated.
  • Insurance: Customer funds are insured and segregated. US customers are even insured up to a balance of $250,000.
  • Deposit Methods : Credit / debit card, bank transfer and PayPal for US customers.
  • Tradable Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
  • Customer Support Methods: Email and FAQ’s.

Looking to invest more than $100 in EOS by using Coinbase? Good news! You will also get $10 FREE by signing up through Total Crypto!

Need help setting up an account? Just checkout our comprehensive Coinbase guide!

I’m Ready To Go On Coinbase. What Now?

Great work on getting your Coinbase account good to go. The bad news is that you cannot buy EOS directly through Coinbase and you will need to use a cryptocurrency exchange to get your hands on it. To do this, you need to convert your money into either Bitcoin or Ethereum on Coinbase. Once done, you can trade this for EOS on a cryptocurrency exchange.

The Fast Way To Buy Bitcoin or Ethereum On Coinbase

  • Head over to the ‘Buy/Sell’ page on your account.
    How to navigate to Buy/Sell on Coinbase
  • Add a payment method to your Coinbase account.
    How to add a payment method to your Coinbase account
  • Choose your deposit method: You can deposit a ‘Bank Account’ transfer – this method has lower deposit fees, but the transfer takes between 2 and 5 days to be credited to your Coinbase account. Or you can deposit instantly through a Credit/Debit card. With either method, just enter your payment details and process the transaction to fund your account. Once submitted, just sit back and wait for the credit to be applied to your account. You will get an email to telling you when your deposit has been successful.
    Adding a bank account or credit / debit card to your Coinbase account
  • Once your account is funded, select Bitcoin or Ethereum in the ‘Buy/Sell’ section of Coinbase.

  • Enter the amount of crypto you want to buy.
  • Select the currency wallet you deposited funds into as your payment method (we have used EUR in this example).
    How to buy cryptocurrency on Coinbase
  • Complete your order by clicking buy.
    How to complete your cryptocurrency order on Coinbase

Check out our Coinbase guide if you are interested in buying Ethereum and Bitcoin on Coinbase with the lowest fees possible. It does take a bit more time though and involves transferring your funds to Coinbase’s sister exchange GDAX and buying your crypto there instead. We recommend using GDAX and saving yourself some fees.

Once you have successfully bought Ethereum or Bitcoin on Coinbase, you are ready to move onto the next step.

Setting Up An EOS Wallet

EOS cryptocurrency silver coins

Currently EOS is an ERC-20 token. This means that EOS can be stored in an Ethereum wallet. We do recommend you use MyEtherWallet. It’s the most popular Ethereum wallet and it’s completely free.

TotalCrypto.io MyEtherWallet Resources
1) The official MyEtherWallet site.

2) Our step by step guide to setting up MyEtherWallet.

3) Important: If you buy EOS coins from a cryptocurrency exchange, you will need to register them before June 2nd 21:59:59 UTC. Failure to do so will result in you losing your tokens. Need help? Our step by step EOS registration guide shows you how.

So your MyEtherWallet should be setup and good to go now. We will just quickly show you how you can view your EOS tokens in the wallet. First go to the ‘View Wallet Info’ section of MyEtherWallet and login. You will see a ‘Show All Tokens’ button, just click it.

How to find ERC20 tokens in MyEtherWallet

Just scroll down the list of tokens until you see EOS and click ‘load’ to view your token balance.

How To Store EOS In The Most Secure Way?

We really like MyEtherWallet as a free way to store your EOS tokens. However, there are many hackers targeting cryptocurrency right now and this issue is only likely to get worse as cryptocurrency prices increase. This means that security should be taken seriously and it is certainly worth considering the best crypto security money can buy.

The most secure wallet solution on the market right now is a hardware wallet device. This stores your private keys on the device and protects them from malicious attacks such as keyloggers and phishing attempts. Your computer could have a load of viruses on it, but with a hardware wallet your crypto should be safe. TotalCrypto recommends that everyone uses a hardware wallet, but ultimately it’s your call.

The good news is that because EOS is built on Ethereum, it is compatible with the two most popular hardware wallets on the market. We actually use both a Trezor and a Ledger ourselves and are happy to recommend both devices.

Need help working out which hardware wallet is best for you? Just check out our Ledger vs Trezor comparison article.

Ledger hardware wallet logo

Price: €94.80 (including European tax and free shipping)

Need help setting up your Ledger? Just have a look at our step by step guide.

Trezor cryptocurrency hardware wallet logo

Price: €128.26 (including European tax and shipping)

Need help setting up your Trezor? Just have a look at our step by step guide.

If you need help integrating your Trezor or Ledger with Myetherwallet, just take a few minutes to find out how in our guide.

Create A Binance Account

By now, you should have some Ethereum or Bitcoin on Coinbase and have setup your EOS wallet. Now it’s time to get your cryptocurrency exchange account setup, so you can trade that Bitcoin or Ethereum for some EOS. The most popular cryptocurrency exchange for EOS is Binance. This is perhaps not surprising, seeing that Binance is the most popular cryptocurrency exchange in the world. We don’t think you can go wrong with Binance and cannot think of a decent reason to shop elsewhere.

Binance exchange logo

Binance Key Facts:

  • Largest In The World: Binance is the biggest crypto to crypto exchange in the world!
  • Huge Selection Of Cryptocurrencies: Binance offers you the opportunity to get your hands on over 100 different cryptocurrencies. Ripple is one of them.
  • User Friendly: The crypto to crypto exchange is the simplest we have ever used. We think this has been one of the main factors leading to Binance’s explosive growth.
  • Customer Support: Binance offers email multi language support for 🇺🇸 🇨🇳 🇯🇵 🇰🇷

Get EOS on the world’s largest crypto to crypto exchange.

Need help setting up a Binance account? Just checkout our Binance guide.

Transferring Your Bitcoin Or Ethereum From Coinbase To Binance

Coinbase and Binance square logos

You should have your Binance setup and ready to go. Whether you have your Bitcoin or Ethereum on Coinbase or in another wallet, you will have to send your funds to Binance to trade this for EOS.

Binance

  • Login to your Binance account.
  • Select “Funds” and click “Deposit”.
    How to find deposit address in Binance exchange
  • Make sure that you select Ethereum if you have Ethereum on Coinbase or Bitcoin if you hold BTC. If you send to the wrong wallet you may lose your funds!
  • You will then see your deposit address for Binance. Just copy this address. We have used Bitcoin as an example.
    How to find your deposit address in the Binance exchange

Coinbase

  • Login to Coinbase and go to the ‘Accounts’ tab.
  • Click the send button for whatever cryptocurrency you hold.
    How to send cryptocurrency from Coinbase
  • Paste your Binance deposit address into the ‘Recipient’ wallet address box and enter the amount you want to withdraw.
    How to enter your Bitcoin wallet address to send funds off Coinbase
  • Hit continue and finalise the transaction. Your Bitcoin and Ethereum should show up in your Binance account shortly

Got Crypto In Another Wallet?

  • Simply send your crypto to your Binance deposit address.

How To Trade Bitcoin Or Ethereum For EOS On Binance?

It’s the moment you have been waiting for. Now we will finally get our hands on some EOS.

  • Go to the Binance homepage and select ‘BTC Markets’ if you have Bitcoin on Binance or ‘ETH Markets’ if you have Ethereum. Then just search EOS in the search bar and click the EOS/ETH or EOS/BTC market.
    How to find the EOS markets on the Binance cryptocurrency exchange
  • You will then be taken to the Binance trading screen. At first it may look overly complicated, don’t worry we will show you how to buy EOS coin in a straightforward way. Just select the ‘Market’ tab (this enables you to buy at the market price). Then enter the number of EOS you want to buy. You can also use the percentage buttons to use a certain percentage of your balance on Binance to buy coins.
    How to buy EOS on the Binance cryptocurrency exchange
  • Once you have clicked ‘Buy’ your trade will be processed and your EOS will be credited to your Binance account.

How To Get Your EOS Off The Binance Exchange?

So, you should now finally have your EOS. The next consideration is where to store it? TotalCrypto recommends you keep your coins in your own private wallet, rather than keeping them on a cryptocurrency exchange. The reason is that Binance holds a lot of cryptocurrency and is a natural target for hackers. Also, having control of your own crypto is probably better than trusting an exchange to keep your crypto safe for you.

  • Log into your MyEtherWallet and copy your public address.
    How to find your public address in MyEtherWallet
  • Login to Binance.
  • Navigate to ‘Funds’ and hit the ‘Withdrawals’ button.
  • Select EOS from the dropdown, then paste in your Ethereum public wallet address and enter in the amount you want to withdraw.
    How to withdraw EOS cryptocurrency from Binance exchange

💡 Top Tip: Binance will charge you a withdrawal fee to get your EOS off the exchange. Before you withdraw you can check the withdrawal fee here!

Maybe The Easiest Way To Buy & Sell EOS

EOS trading buy and sell graphic

Do our other methods to buy EOS coin sound too complicated or time-consuming? Or maybe you want to focus on trading instead? If so, then IQ Option could be the ideal option for you. IQ Option is a contract for a different broker, meaning you will not directly own EOS or have to bother with storing it. Instead, you are buying and selling contracts that are backed by EOS. This means you get all the exposure to the price movements of EOS and can do this within a single account, which makes things very simple.

The Benefits of IQ Option

  • Unlike other cryptocurrency exchanges, IQ Option is regulated.
  • There is a much wider array of deposit options Vs. somewhere like Coinbase. If you want to get exposure to NEO using payment methods like Skrill or Neteller, then IQ Option is for you.
  • We find customer support to be much better at IQ Option than other cryptocurrency exchanges.
  • On CFD brokers like IQ Option you don’t have to worry about crypto storage considerations such as setting up wallets.

IQ Option Cryptocurrency CFD broker logo

IQ Option Key Facts

  • Established – IQ Option was founded in 2013.
  • Global Presence – IQ Option has an astonishing global presence, serving 231 countries and counting. With over 25 million registered users, you know you are in safe hands with one of the largest CFD brokers out there.
  • Tradeable Cryptocurrencies – IQ Option has the largest range 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 who might be interested in the opportunity of investing in a wider range of cryptocurrencies.
  • Lowest Min Deposit Requirement – IQ Option gives everyone the chance to participate in cryptocurrency trading. It’s $10 minimum deposit limit is the lowest out of all the CFD brokers by a country mile.
  • Deposit Methods – IQ Option supports the following deposit methods: Visa, Visa Electron, Maestro, Mastercard, wire transfer, CashU, Skrill Netller, Webmoney, iDeal, Fasa Pay and Boleto.
  • Customer Support Methods Phone, post and email.

Want To Get Started? Start Buying & Selling EOS On IQ Option Now!

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Trading Seems Tricky. Where Can I Get Help?

trading win graphic

TotalCrypto understands that trading can seem confusing and complicated. Fortunately, we’ve put together some awesome trading resources to help you.

TotalCrypto.io Recommended Trading Resources
1) Beginners Guide To Day Trading Cryptocurrency.

2) Understanding Technical Analysis & Trading Strategies.

It’ super important you understand what your doing before placing a trade with a CFD broker. It’s real money you are risking after all.

Conclusion

There you have it: our top 3 ways to buy EOS. The TotalCrypto Team is very excited over the project’s potential and are very interested in seeing if EOS can be the ‘Ethereum Killer’ it is touted to be. For EOS to truly compete with Ethereum, it certainly needs to move a significant number of cryptocurrency projects away from its competitor and persuade them to build on EOS instead. The early signs are encouraging, with top 100 cryptocurrency WAX already declaring that they intend to build their product on the EOS blockchain. 2018 looks set for an interesting battle between the application developer platforms and EOS has the opportunity to start rising to dominance.

Disclosure: The TotalCrypto Team hold a position in this cryptocurrency.

Further Reading At TotalCrypto.io
1) Looking To Hedge Your EOS Investment With Another Promising Application Developer Platform? Check Out The “The Ethereum Of China”.

2) Wondered If QTUM Could Compete With EOS? Maybe There Is An Opportunity To Back Another Horse In The ‘Application Developer Platform’ Race.

3) Heard Of Pump & Dumps? Find Out What They Are & Why You Should Avoid Them.

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Comments (No)

Leave a Reply