How to buy EOS online

EOS, or Ethernet on Sonnet, enables the creation, hosting and execution of decentralised apps (dApps) on a highly scalable and robust blockchain infrastructure. This infrastructure is more flexible, scalable and much faster than Ethereum. The EOS token is used by EOS dApp developers to access the platform and by the EOS project to raise funds, receive payments and to track usage.

This page teaches you about EOS, and what to consider before you pick up some. 

This guide will take you through all of the steps needed to understand EOS and how it works in 2021.

Best platforms to buy EOS – 2021

1
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
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User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
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What Is EOS?

EOS is the most widely used and traded cryptocurrency in the world. Instead of requiring a centralised body such as a bank to verify transactions, all EOS payments are recorded on a public ledger called a Blockchain which is constantly maintained by users of the cryptocurrency. This means that EOS can be bought, spent, and traded without the need for any institution to oversee the process. 

EOS was founded by Block.One who ran the ICO from June 1st 2017 to June 1st, 2018. They raised $4bn during this monster ICO which at the time made it the largest ICO in history. 

VentureBeat cited EOS current scale, (rather than ETH’s future scaling potential) as a core reason why EOS was needed and why they are voting for it over Ethereum by developing their own Smart Contracts on EOS.

Buy EOS now at our preferred partner

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Pros

  • Massively scalable to handle thousands of transactions per second make it well placed to grow in the future.
  • Blazing fast transaction speeds make it very appealing to developers who need this scale right now, without waiting on other blockchains like Ethereum and Tezos to catch up.
  • There are no transaction fees for executing smart contracts on the EOS blockchain on a decentralised exchange. Monetisation happens when users purchase computer processing power to execute the transaction on the EOS blockchain. 
  • EOS governance works very well. Users understand the rules and the rules can only be changed by voting. This makes problem solving fast and easy.
  • The EOS platform has a wealth of tools, built-in functions and templates for developers making it very easy to use. 

Cons

  • The company is scandal ridden after it’s unregistered ICO and, worryingly, they have no legal obligation to honour coins. It is up to the users to ensure coins are honoured.
  • There are only 21 block producers confirming transactions. This is a concern because it transaction confirmation is so centralised. We would like to see hundreds of independent, unconnected transaction confirming producers on EOS to overcome this potential point of centralisation.
  • It is for this reason that EOS has so far failed to supplant ETH as the main blockchain, according to many observers.
  • Allegations of vote trading for financial rewards started to appear after its ICO. In a system that relies on votes for security, this is a worrying issue.
  • Crypto Assets fund announced in a class action lawsuit in May 2020 that it was seeing for the failure to decentralise the platform from what many suspected were powerful Chinese people in control of the platform.

How does EOS Work?

EOS tokens power the EOS blockchain. Developers creating dApps on EOS need EOS to manage the demands of the network, i.e. time, RAM and disk space.

The EOS token acts as a claim on on server resources. Tokens not in use can be rented or allocated to others who might need them.

The killer application of EOS is that it can scale to thousands of transactions per second. In real world testing, it handled 4000 transactions per second and that number could easily go higher as the tech improves. 

EOS uses Delegated Proof of Stake as it consensus protocol. This protocol outsources the processing of blocks on the blockchain to delegates.

DPOS ensures that only holders of EOS can vote for block producers, to achieve consensus. This is a new approach with consensus w

There are no on-chain transaction processing costs on EOS, making it a powerful rival to ETH with its comparatively high gas fees.

The speed of EOS is derived from parallel processing. This minimises run times of all on chain processes, ensuring it can process thousands of transactions per second.

How to Buy – Step by Step

Step 1: Find an exchange

Step 2: Sign up and fund a purchase

Top Tip: If you live in a jurisdiction or deal with a bank that prohibits Crypto transactions, Binance has a nifty feature where you can trade coins directly with another users in exchange for a variety of FIAT currencies. There is no way for the banking system to tie this transaction to Crypto currency and it can save you a lot of time. Check it out!

Step 3: Make a purchase

Congratulations, you’ve just bought your first EOS!

Top platforms to buy EOS

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

How to Trade EOS – Step by Step

Step 1: Find an exchange

Step 2: Deposit money

Step 3: Decide how to trade (CFDs, Spread betting)