Following its high-profile ICO that raised over $4 billion, EOS has established itself as a leading smart contract-enabling blockchain network. This guide covers what to know about the network and how to buy EOS with a credit card.
Do you want to buy EOS token? Use and test these exchanges
Best for beginners and advanced crypto traders
Secure exchange with high deposit & withdrawal limits
Best for demo and spot trading
Methodology
When selecting the top exchanges to purchase EOS, BeInCrypto employed a meticulous methodology and tested each platform for a period of six months.
To enhance their understanding of the market, our team conducted a comprehensive analysis that included examining a variety of sources.
This research involved delving into an array of product-related literature, scrutinizing press releases, and studying annual reports and well as practical testing. Some of the prerequisites for the top exchanges include:
• Security
• Products
• User-experience
YouHodler: YouHodler is an exchange that supports borrowing and lending markets. Users can acquire loans and earninterest on their crypto.
• Security: Regulated by the E.U. and Swiss governments, assets held by Ledger Vault
• Products: Crypto collateralized loans, earn interest on idle crypto
• User-experience: Mobile app, two-factor authentication
Kraken: Kraken is a U.S. based exchange that allows users to spot trade and trade derivatives. The exchange holds multiple licenses in multiple countries.
• Security: Proof-of-reserves, licenses in the U.S., Canada, and U.K.
• Products: Derivatives, spot trading, staking
• User-experience: Mobile app, advanced trading interface
OKX: OKX is an exchange that was founded in Seychelles and is considered an all in one exchange, due to its suite of products.
• Security: Proof of reserves, expiry and safety funds
• Products: Wallet, OTC trading, derivatives
• User-experience: Mobile app, advanced trading interface, multi-factor authentication
Binance: Binance is the world’s largest exchange by trading volume and assets under management, making it deeply liquid.
• Security: Proof-of-reserves, account controls
• Products: Blockchain, wallet, derivatives, token, cloud mining, staking
• User-experience: Mobile app, advanced trading interface, learning products
This methodology was peer reviewed and fact checked to ensure the accuracy of the information provided. To learn more about BeInCrypto’s verification process, navigate here.
What is EOS?
Once touted as an “Ethereum Killer,” EOS is a blockchain platform that enables the easy creation of decentralized applications (DApps) powered by AntelopeIO. This software provides developers on the EOS network with a robust infrastructure for building a wide range of decentralized products and services.
The platform’s native cryptocurrency is the EOS coin. The crypto is used to access the network’s resources, such as bandwidth, computational power, and storage. Additionally, they are important in the network’s governance and for payments.
“We are continuously improving the AntelopeIO codebase that powers EOS with one goal in mind: being the optimal infrastructure to power mass adoption.”
Yves La Rose, CEO EOS Network Foundation: Twitter (X)
EOS runs on the delegated proof-of-stake (DPoS) consensus mechanism, which was created as a more efficient and scalable consensus protocol compared to Bitcoin’s proof-of-work (PoW).
EOS holders have experienced quite the rollercoaster since the coin started trading with two significant price rallies in the past two crypto bull markets. However, the coin has since traded at a five-year low.
Did you know? EOS is a climate-positive blockchain network? That means its network activity goes beyond achieving net-zero carbon emissions. This benefits the environment by removing excess carbon dioxide from the air.
How to buy EOS with a credit card
Here are six easy steps to buy EOS using your credit card.
1. Choose a suitable exchange
Choosing a suitable crypto exchange is the first step you need to take if you want to buy EOS with a credit card. Among the popular cryptocurrency exchanges supporting the trading of these assets are Binance, Coinbase, Kraken, and Bitstamp. Each exchange has its advantages and disadvantages, so compare them to find your right fit.
2. Create your account
Once you’ve chosen your preferred exchange, you will open an account on the platform. That typically involves visiting its website and signing up to its services. Ensure you set up a unique and strong password to protect your account. In this case, we’ll use Binance to demonstrate the process.
/Related
More Articles
3. Verify your account
Most crypto exchanges will require you to undergo a know your customer (KYC) process before allowing you to trade on them. The KYC process entails providing your personal information and identification documents.
4. Link your credit card
Now that your exchange account is up and running, it’s time to link it with your credit card. Before that, ensure that the exchange supports your card and provides secure connections to protect your financial information. When adding your card, you’ll need to enter its number, expiration date, and CVV code.
5. Buying EOS with your credit card
After successfully linking your credit card to your exchange account, you’ll be ready to buy EOS in a few steps.
- Open the exchange’s trading section and find the EOS/USD trading pair.
- Choose how much of the crypto asset you wish to buy.
- Review the order — the exchange will show you the current market price plus any fees you incur.
- Confirm your transaction — click the “Buy” or “Checkout” button once you’re satisfied with the transaction details.
- The exchange will credit your account with the EOS you’ve bought.
6. Secure your EOS
It’s advisable to move your digital assets to a personal EOS wallet once they are deposited in your exchange account to avoid loss from any attacks. Once moved, it’s also important that you adopt the best crypto wallet security habits to protect your holdings.
You can choose from various EOS wallets available in the market today. These could be either cold or hot crypto wallets. The latter wallets, like EOS Lynx and Scatter, are suitable for daily use. On the other hand, cold hardware wallets like Ledger Nano S provide robust offline protection appropriate for long-term holdings. For increased security, you can opt for an air-gapped option or choose a multi-signature wallet if you need more than one signatory for your EOS.
Here’s how you transfer your digital assets to your private wallet:
- Pick an EOS wallet that suits you.
- Follow the wallet’s instructions to set it up.
- The wallet will provide you with a unique EOS address where you can send your coins.
- Login into your exchange account and find the withdraw/ transfer option.
- Enter your personal wallet’s EOS address.
- Choose the amount that you wish to transfer.
- Double-check the transaction and wait for the EOS to reach your wallet.
Why are investors eying EOS?
Known for its high-profile ICO, EOS remains one of the larger smart contract-enabled blockchains in the market; hence, many crypto investors are keeping an eye on its native coin. The EOS crypto can be purchased with a credit card (and other payment methods) at various exchanges following the steps outlined above.
Always choose a reputable crypto exchange, verify your account, and secure your EOS in a non-custodial wallet. Keeping updated on the developments within EOS and the broader cryptocurrency market is critical to making informed investment decisions.
Frequently asked questions
Is it worth investing in EOS?
How to buy EOS with a credit card?
