EOS is one of the most interesting cryptocurrency projects in 2018. While there are many new networks which claim to do things better than reigning smart contract protocol Ethereum, there is no project so keen on taking the throne from Vitalik Buterin and his remarkable technology.
Users who want to buy EOS coin do so because there is tremendous upside to the EOS coin price. If EOS achieves even a small percentage of their goals, this is going to be a worldwide player with an EOS price that’s only going up. Stay tuned to find out why this might work.
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- 0.1 Quick Steps to Buy EOS
- 0.2 What is EOS? What is EOS Coin?
- 0.3 What About EOS’s Delegated Proof of Stake?
- 0.4 So Should I Buy EOS Coin?
- 1 How to Buy EOS Coin on Binance
- 1.1 How to Buy Bitcoin or Ethereum Before You Buy EOS Coin
- 1.2 How to Create a New Account With Binance So Your Can Begin Trading EOS
- 1.3 How to Send Your Bitcoin/Ethereum to Your Binance Wallet
- 1.4 How to Exchange Bitcoin/Ethereum for EOS Coin
- 1.5 How to Send Your EOS Coins to Your Private EOS Wallet For Safekeeping
- 1.6 Final Thoughts on EOS
What is EOS? What is EOS Coin?
EOS is the developing project of a team of blockchain experts headed by Dan Larimer. Larimer’s previous successful blockchain endeavors include Bitshares and Steem. Larimer wants to build a blockchain protocol from the ground up which fixes scaling issues (and others) common to major blockchains like Bitcoin and Ethereum.
EOS will support smart contracts and handle ICOs. In many ways, it will do all of the things that anyone familiar with Ethereum will well know. In many ways, EOS is taking a crack at being the Web 3.0 network we’ve all been waiting for. The question is, can they pull off the big promises they’re making at this point in history?
EOS is the coin you need to use EOS. Right now, the EOS coin exists, but the main network doesn’t, at least not in any usable form. We have a working testnet that gives developers a change to create applications that can be bootstrapped to the full platform once it drops. Tens of millions of EOS coins have yet to be distributed.
With a team led by Larimer, it would seem that EOS has as good a chance as any to dethrone Ethereum. What’s more, being able to handle many thousands of transactions per second is a very compelling capability, one which Ethereum can only dream of at the moment. The coming months will tell us much about who wins.
So Should I Buy EOS Coin?
EOS is unreleased and unproven, but we think that Proof of Stake (and specifically Delegated Proof of Stake) may be the best answer to big problems plaguing today’s blockchain companies. At about $11 at the time of this writing, it’s likely that the EOS coin price will be many times what it is today, as long as the main-net is released as planned. We have no reason to think that we will be disappointed.
EOS is as yet unproven, but the track record of its development team and the remarkable success of developer Dan’s past platforms indicates that this is a project to watch and (probably) invest in.
How to Buy EOS Coin on Binance
The majority of EOS coins which are bought and sold are traded on Bithumb, Bitfinex, and OKex. However, because these options are not available to many westerners, we’ll focus our EOS coin buy guide on the 4th largest EOS coin exchange. Binance is well known, widely available, and handling well the dramatic surge in trading demand. We think you’ll have a good experience here.
How to Send Your EOS Coins to Your Private EOS Wallet For Safekeeping
Now you’ll want to send your new EOS coin to your private wallet because your private wallet is always safer than a public exchange wallet. Start by creating a new wallet at https://www.myetherwallet.com/, which holds all coins released through the Ethereum blockchain, including EOS (ironic, I know).
Once you’ve created your account (make sure to copy down your private keys and codes!), copy the address in the upper right hand corner. Take this back to your Binance EOS wallet, where you’ll select “Withdraw”. Paste your MyEtherWallet address and select the number of EOS coins you wish to send. Confirm the transaction and wait for your EOS coins to arrive in your new MyEtherWallet account. Again, you can always send just a few coins to start if you’re worried you’ll make a mistake.
Final Thoughts on EOS
EOS is one of several burgeoning cryptocurrency networks which have excellent promise, because of their explanations of the technologies being built and the past success of their team members. EOS looks great on paper, but because they have no working product just yet, only time will tell if this project is the true Ethereum-killer is wants so badly to be.
Because of the developers’ past successes, we have every reason to believe that the main-net will be released in a timely fashion. The question then is whether or not development adoption will be robust enough to knock Ethereum off the tracks. We’re very excited to watch this process in action in the coming weeks and months.
Even if EOS is unsuccessful, the hype leading forward will likely carry the EOS price to new heights. If EOS is successful, the sky is the limit.