EOS is an operating system that provides participants with the ability to create decentralized applications. Unlike its competitors, EOS can process several hundred thousand transactions per second. Learn more about the project, its prospects, as well as where to buy or exchange EOS, in our review.
What is Eos (EOS)?
EOS is a convenient multifunctional platform for working with decentralized applications with support for smart contracts, zero commissions and high bandwidth. It can be said that this is an attempt to create another version of the Ethereum network, but more accessible and faster.
The ultimate goal of EOS is to build a secure and transparent blockchain platform for decentralized applications. One that could easily scale to thousands of transactions per second, while providing equally convenient access to the service for developers, entrepreneurs and ordinary users. The blockchain implements the concept of parallel execution of smart contracts, which reduces the processing time of contracts by using horizontal scaling of the network. EOS uses a unique DPoS protocol, the peculiarity of which is that transactions can be confirmed not by all miners, but only by 20 large holders in a particular block. Thanks to this algorithm, the network bandwidth is much higher than that of competitors.
Why should I trade Eos?
If you are thinking about buying EOS, then you have made the right choice, since:
- Thanks to a more advanced and flexible architecture, EOS competes with well-known blockchains. The project is in the top 30 by market capitalization.
- For a long time, the value of the coin did not go beyond $8, but with the onset of 2021, investors ‘ interest in it increased and the altcoin sharply increased in price to almost $15. According to DigitalCoin and LongForecast, further price growth is expected.
- Thanks to the introduction of the new PowerUp protocol and cooperation with Google Cloud, the EOS project has attracted the attention of many users and investors, which will have a positive impact on the asset price in the near future.
As of August 8, 2021, the price of one EOS coin is $4.29, and the market capitalization is $4,103,135,105. The record low price of $0.4802 was reached on October 23, 2017. The maximum value of the asset was set on April 29, 2018 and amounted to $22.89.
Where to trade Eos?
The EOS cryptocurrency is represented on all well-known crypto exchanges and brokers, among the best are:
- Binance – a top exchange where traders can trade on the spot, futures or derivatives market and conduct over-the-counter transactions (OTC, P2P).
Amount of coins: more than 300.
- Kraken – an exchange with an ideal reputation, effective tools for technical analysis, as well as a large selection of coins for trading.
Amount of coins: more than 90.
- 7b – a broker application for your smartphone. Provides favorable fees and a secure environment for trading more than 2000 pairs.
Amount of coins: more than 300.
How to trade Eos using the 7b crypto broker app?
If the security and convenience of trading along with a wide selection of trading pairs (there are more than 2000 of them on 7b) are important factors for you, then 7b broker is the best place to trade EOS. 7b provides transparent fees and useful tools for trading. In order to trade EOS, just use the instructions below:
- Register an account and transfer funds for trading.
- Select a trading pair (for example, ETH/EOS).
- Enter the purchase amount.
- Click “Buy”.
- Shortly after the transaction is completed, the funds will be transferred to your account.
Where to exchange EOS?
You can easily and simply exchange EOS cryptocurrency on instant exchange platforms or crypto brokers. What is the difference? Let’s look at the main advantages and disadvantages of the types of exchange service:
Pros Cons It offers a huge variety of exchange directions Charges a high fee Security issues are excluded There are no limits on the exchange
Pros Cons Usually provides complete anonymity There is a limit on the exchange You can receive funds directly to your wallet Fees are lower than those of a broker
If you choose a broker for EOS exchange, then 7b is a great place for you. If you choose the swap platform, then the list of the most popular ones includes:
- CoinSpot – a well-known Australian cryptocurrency exchange platform. Provides more than 300 crypto assets.
Service fee: 1%.
- Changelly – a reliable and convenient platform where you can exchange more than 170 crypto assets.
Service fee: 0.25%.
- ChangeNOW – an instant exchanger without the need for registration, and more than 170 coins to exchange.
Service fee: included in the exchange rate.
What to know before exchanging Eos?
A trader who is looking for an EOS exchange platform should pay special attention to the following points:
- Check the reputation of the chosen platform, communicate with real users or use the monitoring of exchangers.
- Find out the exchange limits.
- In order to find out if any hidden fees are charged, try to perform an operation with a small amount.
- Find out how the service support works.
- Carefully enter the EOS wallet address.
How to buy Eos for fiat?
In order to buy EOS for your local currency or a convenient fiat currency, you can use the services of a platform with support for a fiat gateway. You can make a fiat-to-crypto purchase on the Kraken exchange. An easier and faster way would be to use instant exchange services, such as CoinGate or Swithere. Pay attention to the exchange rate, supported currencies, and payment methods. The procedure is extremely simple:
- Select the currencies to be exchanged, for example, USD/EOS.
- Enter the purchase amount.
- Enter the EOS wallet address.
- Confirm the transaction.
Eos token use cases
Use cases for the native EOS token include:
- EOS should be used as a currency for network resources and DApps creation. DApps developers who build on the EOS blockchain will be able to borrow bandwidth and other resources.
- The EOS token is also required for voting. As we mentioned above, EOS uses DPoS protocol. To vote for a specific block producer, users must put their EOS tokens.
Is Eos a good investment?
Yes, EOS is the cryptocurrency that you should look at in 2021. The project offers a solution to current problems related to scalability, speed, and convenience of building decentralized applications. According to many analysts, the asset price will grow.
How do I invest in Eos?
Despite the positive forecast regarding the growth of the EOS price, we do not recommend investing more than 30% of available funds in the purchase of an asset. To invest in 7b through a crypto-to-crypto purchase: top up your balance, select coins to exchange, enter the purchase amount.
How to trade EOS for beginners?
Do not be fooled by all sorts of guides for free training in cryptocurrency trading. This usually does not lead to anything good, in addition, you need to be able to conduct your own research and rely only on your own experience. In order to trade on 7b: transfer coins to your account, choose EOS for trading, specify the transaction details.
What is Eos Blockchain?
EOS is a platform for building decentralized applications (DApps) with the ability to scale. The project offers a simple set of tools for developers, with the ability to create and maintain a database. The main differences are: the convenience of launching DApps and a high level of scalability.
Original source - How to trade EOS