EOS is a cryptocurrency created by Block.one, known for conducting the most significant Initial Coin Offering (ICO) in the history of cryptocurrencies. Launched in 2017 with a decentralized and smart contract-based infrastructure, EOS has the support of Dan Larimer, the founder of BitShares, Steem, and the Delegated Proof-of-Stake (DPoS) systems.
So what is EOS, which has managed to raise over $4 billion in its ICO and made a significant impact on the industry, and should one consider investing in EOS Coin?
What is EOS Coin?
EOS is known to be a competitor to Ethereum, just like Cardano. Launched to capture Ethereum’s decentralized application (DApp) ecosystem, EOS has put up a serious fight and managed to challenge Ethereum. Hosting primarily gambling and betting applications, EOS is different from Ethereum in that it has the DPoS consensus model.
While Ethereum currently operates on the Proof-of-Work (PoW) model, it aims to transition to the Proof-of-Stake (PoS) model soon. EOS’s consensus model is seen as a more advanced version of the PoS model. Everything on the EOS network is entirely transparent, and the network is decentralized through smart contracts. Unlike the Bitcoin network, there is no mining model on the EOS network.
EOS, which reached $23 during its record period, is currently trading at $3.86 as of the writing of this article, far from its all-time high. The total supply of EOS is limited to 1 billion coins, and currently, only 935 million are in circulation. The remaining funds are known to be released by the founders and Block.one when necessary.
Recently, EOS has been in the spotlight with its decentralized social media platform named Voice. Especially as censorship towards the cryptocurrency sector on social media platforms like Facebook and YouTube increases, the Voice platform has gained a lot of support. Even Vitalik Buterin, a co-founder of Ethereum, which is a rival network of EOS, openly expressed his support for the Voice platform.
The considerable support for the Voice platform has naturally increased interest in EOS and the number of people using the phrase “Should You Buy EOS Coin?” on social media platforms. So how and where can you purchase EOS Coin?
How to Buy EOS Coin
EOS can be purchased through Binance, one of the world’s largest cryptocurrency exchanges.
To buy EOS, you can follow the steps below:
- Firstly, to purchase EOS, you need to deposit a dollar balance into the exchange or buy a cryptocurrency that can be used instead. For this, go to the Binance homepage, click on the “Buy Crypto” option at the top left, and then click on the “Credit/Bank Card” tab.
- In the opened tab, select how much USD you want to transact with and mark Tether (USDT) in the Coin section.
- After purchasing USDT, preview the “Buy & Sell” option at the top left and click on the “Classic” tab.
- In the opened section, select the USDT tab from the top right, type EOS in the search button and choose the EOS/USDT pair that opens below.
- Then go to the “BUY EOS” tab in the middle, enter the amount you want to buy.
- Enter the desired amount and complete the EOS purchase by confirming the transaction
Where to Buy EOS Coin?
EOS Coin can be bought from the Binance cryptocurrency exchange. Users who purchase EOS through Binance can access extra liquidity as well as additional security and the ease of trading pairs. This enables investors to trade more comfortably without being limited to certain trading pairs.