|Circulating Supply||1,006,245,120 EOS|
|Max Supply||0 EOS|
While you might straight away look at the likes of Bitcoin, Ethereum and Ripple when venturing into the cryptocurrency trading industry for the first time, there are a number of other coins that are starting to become more prominent. One of these is EOS, a cryptocurrency that finds itself in the top ten in terms of market capital.
That market capital is currently a little more than $6.1 billion and daily trade of this currency is around the $561 million mark on a daily basis. Right now the EOS coin is worth $7.97 and those who were brave enough to by it at launch back in July of 2017 will be extremely happy as they would have got the coin at less than a dollar each.
What is The EOS Coin (EOS)
EOS is more than just a cryptocurrency and is actually a technology, one that many thinks have a great chance of becoming a success.
EOS itself is an operating system that developers to create decentralized apps upon it. The EOS coin is the cryptocurrency that the developers will have to use to pay for the hosting of their DAPPS on the EOS operating system.
Sometimes called the ‘Ethereum Killer’, EOS was actually first built on the Ethereum network. The operating system supports DAPPS which will allow outside developers the ability to create apps that are hosted and run on the system.
Whats Special About EOS (EOS)
Its bit difficult to talk about what is special about EOS right now because there really isn’t an EOS yet. It is a work in progress and one that investors will be hoping proves to be successful at what it is meant to do. That being said, the following three benefits are certainly appealing.
- Scalability – Supporting vertical and horizontal scalability on EOS will ensure that congestion is never going to be a problem across the network.
- Supports DAPPS – Decentralized apps allow for much faster transaction times as well as high volume transactions too.
- Smart Contracts – By making use of the innovative Smart Contracts that Ethereum created, was a very good decision by EOS.
Where to Buy EOS (EOS)
EOS is among the more popular cryptocurrencies at the exchanges and for that reason you should have no problem finding one to use. The exchanges that we listed below will also have a number of other cryptocurrencies that can be traded there. Each will have their own pros and cons but you will certainly find one that is appealing.
In terms of popularity, Binance is right up there with the best of them. As a crypto-to-crypto currency exchange, it offers good anonymity and has a good selection of cryptocurrencies that you can trade.
Gate.io is a massive cryptocurrency exchange and one that offers a vast array of trading pairs that you can use. More importantly, it allows you to trade EOS with a number of different trading options.
Kraken is regularly rated as one of the best cryptocurrency exchanges and when you consider you can use a credit card and various other fiat payment options, it really is not hard to see why.
Liqui is a cryptocurrency exchange that launched in 2016 and it has a decent selection of cryptocurrencies that can be traded. Credit cards are not accepted so if that is what you wanted to use, you will have to go elsewhere.
Credit cards are accepted at Bithumb, so that will be a big bonus for some of you. EOS is also one of a dozen cryptocurrencies that can be exchanged at this exchange.
Investing in EOS (EOS)
The EOS coin saw its value catapult to 10x its value just a few months after it was first released which just shows how powerful the cryptocurrency world can be at times. However, anything that goes up so quickly will have to come down eventually so it might be a difficult coin to trade.
Having said that, if you value the ambitions of the technology of EOS, it could definitely be a good long-term investment. Just make sure you have done your research on the coin and the technology behind it to see if it is something that you believe will come good one day. If they do, the coins you have purchased today could be worth a fortune.
Do I Need an EOS Wallet
Safety is a massive concern in the cryptocurrency industry, with hackings being fairly commonplace. Even some of the most secure cryptocurrency exchanges have been victims and hundreds of millions worth of cryptocurrencies have been stolen. These funds are those of the traders on these exchanges and it is very rare that they have been reimbursed for their losses.
With that in mind, you should always use the exchanges for your trades but not keep your funds in the accounts for too long. Keep them in third-party wallets instead and you should have far more security.
There is a good number of wallets around that you can use to store your portfolio of cryptocurrencies and they are generally hardware or software based. Below we have listed a selection of these wallets but you might be able to find others out there for yourself that can hold EOS.
If security is your primary concern when it comes to cryptocurrencies, you will certainly want to consider using hardware wallets if at all possible. This is mainly because your currencies and their keys will be in a storage device away from the internet and your computer. This way you can keep your portfolio in your pocket – a place that you will no doubt feel is quite safe.
There is only one hardware wallet that we know can be used to store EOS, and you can find more information on that below:
- Ledger Nano S
The Ledger Nano S is the only hardware wallet that you can use for your EOS and luckily for you, it is actually the best one available. It allows the safe storage of a number of coins including the EOS and the keys that go along with them. These can be purchased online or at land-based retailers worldwide.
While you will not have as good protection with software-based wallets compared to hardware-based types, you are still going to feel much safer using them than on the online exchanges. There is a good range of choice for these wallets but it will depend on the coins you wish to store as to if you can use them.
With regards to EOS, the following are good options to check out:
- MyEther Wallet
As EOS is an asset made on the Ethereum chain, you can store it on MyEther Wallet as it is an ETH based token. You can even use this wallet to store the USD and EUR fiat currencies if this is something that would interest you.
Like with the MyEther Wallet, Exodus can store all ETH-based tokens and will be a good option for your EOS. This can be downloaded to be used on Windows, Linux and OSX and is a very anonymous wallet.
Jaxx is another excellent choice as it allows you to hold a good selection of other cryptocurrencies alongside the EOS that you want to store. This includes most major coins as well as some altcoins.
Pros & Cons
What counts against EOS is time really, as it is still very young. Let’s not forget that this is not just a cryptocurrency like Bitcoin, it’s a technology and it could be likened to a startup that has not really produced any tangible results as of yet.
However, in you believe in the team behind EOS and their visions moving forward, investing could turn out to be a very good decision by you one day.
- Impressive scalability
- DAPPS Support
- Makes use of Smart Contracts
- Still a very young project
- Not much to show for the mass investment it has received so far