How to Buy EOS Tokens

In Walkthroughs by CryptoWalkthrough Team

Trade EOS with Lowest Fees

EOS tokens are best bought and sold on Binance

[crypto coins=”eos” columns=”1″]

EOS is conducing a very unique ICO, spanning an entire year, launching back in June 2017. EOS tokens can also be bought on many exchanges, with the prices being about the same buying via the ongoing ICO or from an exchange. EOS is a distributed blockchain platform that would compete with Ethereum, IOTA and NEO, and they are promising the most powerful way to run Dapps. Their token is currently an ERC20 token on the Ethereum platform, but they intend to swap these for a token on their platform after it launches.  EOS has a current market cap of [crypto coins=”eos” type=”text” show=”market_cap”]. This guide will walk you through how to quickly and safely buy, store or sell EOS tokens.

How to Buy EOS Tokens

EOS are tradable on a number of crypto exchanges including Bithumb, Huobi, Binance, OKEx, and Gate.io. Our favorite is Binance, as they have very high trading volume, the lowest 0.1% trading fees, fun trading competitions with great prizes, and easy to set up accounts.

To buy EOS, follow these simple steps:

  1. Open a new account with Binance. It is free and easy to setup. If you like, read our full Binance review.
  2. (OPTIONAL) After opening your account, setup Two-factor Authorization (2FA) to add another layer of security. You can skip this step if you want to buy EOS immediately, but we highly recommend setting it up afterwards to better secure your account.
  3. Ensure that you have some Bitcoin (BTC) or Ethereum (ETH) to use to purchase EOS. Binance does not accept fiat currency deposits. If you need BTC or ETH, read our quick guide to buying cryptocurrencies with Bitcoin or Ethereum.
  4. After successfully confirming your account via the email you receive from Binance, log in with your account details, and navigate to the Funds > Deposits Withdrawals menu option.
  5. On this page, enter either BTC or ETH on the right and click the Bitcoin or Ethereum link displayed. Next, click the Copy Address button to copy the Deposit Address that is shown. It is very important that you select the correct currency deposit address. Be careful to not send BTC to your ETH deposit address for example. We recommend using ETH currently since confirmation times are much faster (meaning your ETH will be ready to be used to purchase EOS more quickly than a BTC deposit).
  6. Utilizing your wallet or exchange where you hold BTC or ETH, request a withdrawal or transfer to the Binance deposit address you just copied. Double-check the address before sending!
  7. Wait for the deposit to be confirmed. You can monitor the status in the Funds>History menu tab. For ETH deposits, assuming there are no issues with the Ethereum network, they will typically be confirmed in 10-15 minutes. For BTC, the wait can be considerably longer currently!
  8. Once confirmed, navigate to the Exchange>Basic, enter EOS into the search box on the top right and click either the small BTC or ETH button as appropriate. This will display the EOS/BTC or EOS/ETH trading pair. Click the pair. If you like, also click the star icon next to the pair to mark it as a Favorite for easy access in the future.
  9. You will now see the trading view for either EOS/BTC or EOS/ETH. Look for the “Buy EOS” box that is below the chart of recent trade activity. The default order type is a “Limit” buy, letting you set the price you would like to pay for EOS. If you prefer a “Market” buy (at the current price), click the Market tab. For a Limit buy, enter in the price you would like to pay, and the number of EOS you would like to purchase and click the green “Buy EOS” button. Your trade will now be placed. Depending on the price you set it may be fulfilled immediately, or it may take some time if you set a price lower than the market.
  10. Once your trade has completed, you can find the details under the Orders>Trade History menu option, showing the exact number of EOS you have purchased and their price in BTC or ETH. Congratulations, you are now the proud owner of EOS tokens!

How to Safely Store EOS Tokens

Until their mainnet launches, and EOS switches to a token on their own blockchain, EOS is an Ethereum ERC20 token, and thus can be stored on any Ethereum-friendly wallet that supports ERC20 tokens. We recommend MyEtherWallet for a browser-based wallet to store ERC20 tokens such as EOS. However, we very strongly recommend that you purchase and utilize a hardware wallet such as the Ledger Nano S, which greatly improves your security and reduces the chance that your tokens can be stolen or lost through human error. The Ledger Nano S is easy to set up, supports hundreds of cryptocurrencies including EOS, and makes managing your holdings quite simple while giving you great peace of mind. Be sure to only purchase the Ledger Nano S directly from Ledger. Do not purchase from Amazon, eBay or another reseller, since it is possible the security of the device could be compromised before you even receive it. Purchasing directly from Ledger ensures that nobody has accessed your device other than you.

How to Sell EOS Tokens

This section assumes you already own some EOS tokens and have them stored on another exchange or the official wallet. To sell EOS follow these simple steps:

  1. If you do not already have one, open a new account with Binance. It is free and easy to setup. On Binance, click the Create Account link to get started. If you like, read our full Binance review.
  2. (OPTIONAL) After opening your account, setup Two-factor Authorization (2FA) to add another layer of security. You can skip this step if you want to sell EOS immediately, but we highly recommend setting it up afterwards to better secure your account.
  3. After successfully confirming your account via the email you receive from Binance, log in with your account details, and navigate to the Funds > Deposits Withdrawals menu option.
  4. On this page, click the Deposit link for EOS and copy the Deposit Address that is shown. Note that is very important that you select the correct currency deposit address. Be careful to not send EOS to your BTC deposit address for example.
  5. Utilizing your wallet or exchange where you hold EOS tokens, request a withdrawal or transfer to the Binance deposit address you just copied. Double-check the address before sending!
  6. Wait for the deposit to be confirmed. You can monitor the status in the Funds>History menu tab.
  7. Once confirmed, navigate to the Exchange>Basic, enter EOS into the search box on the top right and click either the small BTC or ETH button based on what currency you would like to receive. This will display the EOS/BTC or EOS/ETH trading pair. Click the pair. If you like, also click the star icon next to the pair to mark it as a Favorite for easy access in the future.
  8. You will now see the trading view for either EOS/BTC or EOS/ETH. Look for the “Sell EOS” box that is below the chart of recent trade activity. Enter in the price you would like to sell for, and the number of EOS you would like to sell and click the red “Sell EOS” button. Your trade will now be placed. Depending on the price you set it may be fulfilled immediately, or it may take some time if you set a price higher than the market.
  9. Once your trade has completed, you can find the details under the Orders>Trade History menu option, showing the exact number of EOS you have sold and their price in BTC or ETH. Congratulations, you have sold your EOS tokens!

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