Why is EOS Different?
Every blockchain is trying to solve a unique problem and EOS isn’t different. EOS is solely focusing on the issues of quick and convenient scalability, speedy transactions, and infrastructure agility to ensure users don’t have to go through the problems and bottlenecks that are present on other blockchain.
In order to use the EOS platform and its features, you must have EOS coins which you can spend on network resources to develop and execute dApps.
EOS is developed by block.one which is a team of researchers with keen interest in cryptocurrency and its impact on the global economy. The primary long term objective of the team is to decentralize as many aspects of our lives as possible.
Brendan Blumer who is the CEO of block.one established GaMecliff, a successful startup and invented in-game trading of virtual assets. Dan Larimer is also on the team who has helped in building projects like Bitshares and Steemit.
How to Buy EOS
Step 1 – Choose Your EOS Wallet
EOS uses ERC-20 token technology so you need a wallet that’s compatible with ERC-20. If you don’t know what a cryptocurrency wallet is, you can think of it as a secure way to hold your coins while you’re not using them. A wallet ensures that your coins are accessible and secure all the time whether you’ve access to internet or crypto exchange or not.
• Desktop Wallet – If you are interested in a desktop wallet then Exodus and Jaxx are good options as both are available for Windows, Mac and Linux and can also be used on smartphones.
• Mobile Wallet – But if you want a mobile specific wallet to store EOS, you can use Jaxx as it offers support for both operating systems i.e. Android and iOS.
• Hardware Wallet – This is the safest way to store your EOS coins. The Trezor One, in this, case is a better choice with high end security features.
Step 2 – Choose Your EOS Exchange
A cryptocurrency exchange is a market where you can buy and sell crypto coins such as EOS and Bitcoin. You can buy cryptocurrencies using your regular money or other cryptocurrencies. Some of the top cryptocurrency exchanges are Coinbase, Binance, Kraken, and Bittrex.
To choose the one that’s perfect for your situation, check out different features each crypto exchange offers including transaction fee, withdrawal charges, transaction processing time, reputation, and overall customer service. Looking at different features will help you make the right call.
Step 3 – Take Precautionary Measures
Before you make a purchase, remember to follow some standard protocols to ensure your safety. Always use a dedicated email address for crypto trading and signing up on a crypto exchange. Use strong and different passwords for your exchange and email accounts. Run antivirus on your devices and install a firewall to add another layer of cybersecurity. Only use secured devices for trading cryptocurrencies. When you are signing up on an exchange, enable two factor authentication.
Step 4 – Choose the Payment Method
Once you’ve gone through the above steps, you are ready to buy EOS coins. Find the cheapest and most convenient payment mode. It’s usually advised that when you are choosing your exchange, ensure you go with the one that doesn’t charge a hefty transaction fee.
Step 5 – Make the Purchase and Store EOS in Your Wallet
Now you can buy EOS coins by going to the market section of the exchange. Type in the amount of cryptocurrency you are looking to purchase and the cryptocurrency exchange will find out the best price available at that moment. It may take a few minutes up to half an hour for the cryptocurrency to show up in your account. Once you receive the coins, transfer them to your digital or cold wallet to ensure safe and secure storage.