How to buy, sell or trade EOS in the US | finder.com
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How to buy, sell and trade EOS in the US

All about the EOS coin and where to buy, sell and trade it.

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“EOS” isn’t an acronym. It’s simply what the system is called. Some of the suggestions about what it could stand for are “EOS Operating System” or “Ethereum On Steroids”.

The second interpretation is what could be attracting many traders. The Ethereum smart contract system has already proven itself, but it isn’t very user-friendly and has some scaling problems. Some people believe that by overcoming these, EOS will become the new Ethereum.

EOS is designed to be a much more scalable and easier-to-use version of Ethereum but with a similar range of functionality. It aims to offer a blockchain network where anyone can participate safely and without any particular technical knowledge, while also offering a full range of advanced features where desired.

Its specific features include the following:

  • A user-friendly software interface for the platform
  • Horizontal and vertical scalability
  • Human-friendly features such as the ability to set delayed transactions
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Where to buy, sell and trade EOS in the US

US residents are specifically barred from participating in the EOS token distribution, though circulating EOS tokens are available at any of the following exchanges.

Name Product Payment Methods Available Fiat Currencies Available Cryptocurrencies
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC & 80+ more
Trade 60+ cryptocurrency pairs on this up-and-coming exchange based in China. Multi-language support.
Cash, BPAY, POLi, Cryptocurrency
AUD
BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG & over 60+ more
CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Cryptocurrency
-
BTC, BCH, KCS, DRGN, DBC, XRB, ETH, PRL, LTC, SNOV, DENT, RPX, QLC, NEO, UTK, BNTY, ACT, POE, UKG, LA, LEND, VEN & 50+ more
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Credit card, Debit card
USD, EUR
BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE, XLM,1ST, ADX, AMP, ANT, BAT, BCN, BNT, BTG, CFI, CVC & 70+ more
Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
OKPay, PerfectMoney, Yandex Money, Payeer, QIWI, Cryptocurrency
USD, EUR, RUB
BTC, XRB, ETH, DCN, BCH, NIO, TRX, DASH, COB, DOGE, PRIX, DSR, XCPO, LTC, VERI, LOC, NUA, PKT, PPT, ICO & 80+ more
Supporting over 100 coins, you can exchange a variety of cryptocurrency pairs on this peer-to-peer platform.
Cryptocurrency
-
BTC, BTG, ETH, ETC, DASH, XRP, DOGE, XEM, LTC, XLM, NEO, ADA, EOS, QTUM, XMR, TRX, BCC, XVG, LSK, GEO & 250+ more
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Cryptocurrency
-
BTC, BCH, BTG, ETH, ETC, FUN, 1ST, ANT, BAT, BNT, BLK, CVC, CLAM, DASH, DCR, DGB, DNT, DOGE, EDG, EOS, FCT, GAME & 25+ more
A global exchange where no account is needed to begin trading cryptocurrency to cryptocurrency.
Electronic Funds Transfer, SEPA, Wire Transfer *payment methods vary per country
USD, EUR, GBP, JPY, CAD
BTC, BCH, ETH, ETC, XMR, DASH, LTC, XRP, XLM, REP, ICN, MLN, ZEC, USDT, GNO, EOS
Exchange multiple cryptocurrencies through a range of payment methods, including Electronic Funds Transfer, SEPA or Wire Transfer.

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Wallets for EOS

Just as for any cryptocurrency, you’ll need a compatible wallet.

Currently EOS is still being handled on the Ethereum blockchain as an ERC-20 token, but the eventual plan is to migrate it onto its own network. You’ll be able to take all of your tokens with you when that happens.

Until the EOS network is live, any ERC-20-compatible cryptocurrency wallet that can hold Ethereum should also be able to hold EOS tokens.

How does EOS work?

The main feature of EOS is its computer software. It’s designed to make full use of a machine’s processing power, such as by letting users schedule applications across multiple CPU cores or clusters. This essentially puts a lot more processing power into the blockchain at much lower cost, while retaining features that are similar to Ethereum, such as smart contracts.

In addition, EOS uses a unique processing algorithm called delegated proof of stake (DPoS). This is intended to be a more efficient and flexible way of doing things.

With these features, you get an advanced blockchain network with a range of advanced functionality, plus:

  • No transaction fees
  • Exceptional scalability and a system able to handle millions of transactions per second
How DPoS works

When blocks on a blockchain are created, they process transactions. However, someone has to create these blocks at the cost of electricity and processing power.

The EOS DPoS system is designed to automate the work while minimizing the costs involved. It aims to lower them to the extent that the entire network can be run without transaction fees. It does this by ensuring that users are automatically compensated with small amounts of EOS for producing blocks.

There is no set limit on the number of EOS tokens, so the system can theoretically run indefinitely, and the tokens awarded to block creators don’t actually have to come from anywhere. They can simply be generated as needed in a process that imitates very gradual inflation.

To prevent tokens from becoming worthless despite having an unlimited supply, inflation is set at a gradual and predictable amount.

Under DPoS, the system automatically picks block creators from among all users who opt into it. The selection is random but weighted by the number of EOS tokens a user holds. The more EOS coins someone has, the more likely their collection is to “earn interest” over time as they contribute to the system.

This is how the public EOS system works.

EOS can also be operated in closed blockchains under admin control. For example, a company might purchase EOS tokens and then distribute them to its administrators to conduct its own transactions on its own network.

How to sell or trade EOS

  1. Go to the platform exchange you hold EOS on. If you have your EOS in a digital wallet, then you can pick any of the platforms listed above to complete your transaction.
  2. Follow the instructions on the platform to sell or trade your EOS.

What gives EOS tokens value?

The DPoS system means EOS token holders can gradually increase the amount held in their account to help cover the electronic, computing and other costs of using the system.

Plus, an EOS token buy-in is required to use the system. When the number of users increases more quickly than the gradual inflation built into the system, the value of each token may also increase.

What makes EOS so user-friendly?

EOS aims to create a platform that anyone can use. It does this with a few features in particular.

  • Human-readable account addresses. EOS permits accounts from 2-32 characters in length that can serve as secure and reliable identifiers.
  • Clearer information. You won’t need programming or other technical knowledge to understand contracts on the blockchain.
  • Reversals and delays. Contracts can be implemented with a delay as desired. For example, you might have instant transactions to buy a cup of coffee with EOS or a week-long cooling-down period when purchasing a house or car.
  • Account restoration. If a user’s account keys are stolen, they can be recovered within 30 days. This is done with a designated account partner that allows the original user to recover their account with two-factor authentication. The idea is that thieves have nothing to gain from recovering an account, because they’ll only risk exposing themselves for no gain.
  • Separate ecosystems for users. Businesses might have their own EOS environments customized in their own ways, while the general public might interact in the primary EOS ecosystem.

Things to consider before buying EOS?

Few other cryptocurrencies have developed a scalable and sustainable model for rewarding user engagement and operation of the network, and tied it into a user-friendly experience.

Ethereum, in particular, is known to be a useful currency but hampered by scaling problems and a poor user experience, making it a good foundation for EOS to build on.

If it manages to solve these problems successfully, it might become one of the world’s main blockchains.

However, it’s still in the relatively early stages of development, and some of the main challenges, like a migration to its own blockchain, are still ahead of it.

It’s also possible that some of the user-friendly features might have unforeseen results and end up being a poor match for user needs on the blockchain.

Andrew Munro

Andrew writes for finder.com, comparing products, writing guides and looking for new ways to help people make smart decisions. He's a fan of insurance, business news and cryptocurrency.

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