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How To Invest In EOS (EOS) – The Cryptocurrency That Is A Platform

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Invest in EOS EOS is a cryptocurrency that you can ’ deoxythymidine monophosphate truly buy anything with. Wait, what ? Why would anyone want to use a cryptocurrency that you can ’ deoxythymidine monophosphate use to even buy anything ?
EOS international relations and security network ’ t the only cryptocurrency that international relations and security network ’ t making full moon use of the currency function. The office of EOS is in its ability to provide a platform for decentralize applications. While that might besides make your steer spin, in this article, we ’ ll find out why inventors have dumped $ 700 million into EOS, why more investors are trying to get in, and how you can invest in it .

What Is EOS ?

EOS is a project created by Dan Larimer. The party behind EOS is block.one. Larimer is besides its CTO. Brendan Blumer is the CEO. Larimer is good people to have on a cryptocurrency project. He ’ south been involved in other successful crypto asset projects such as steemit.com ( a blockchain for contentedness ), bitshares.org, which is a decentralized change .
According to coinmarketcap.com, EOS is ranked # 10. Its current price is $ 13.24 and there are 625,462,477 EOS presently in circulation .

How Is EOS Different ?

EOS allows companies to build applications. think of it as an operate system for decentralized applications. The software behind EOS is called EOS.IO Software. It ’ s a programmable blockchain that doesn ’ thyroxine ask developers to have servers when creating applications for the platform. Meaning, businesses have a full platform to create, deploy and run their decentralized applications on .
Because of its architecture, EOS can support millions of transactions per irregular with sub-second latencies. The system uses delegated proofread of state of matter .
Some of the use cases for EOS are :

  • Businesses that need to manage inventory .
  • Banks that need to manage records .
  • Stock exchanges that need to manage trades .

All of these businesses can build their applications on EOS. Additional use cases include the following Airbnb or the future Uber. The room that will work is to allow passengers and drivers to interact without having to pay in USD or having a contact take a fee for each transaction .
steemit.com is another exercise of EOS in action. steemit.com allows people to put articles on the blockchain. Each article is time-stamped, making it reliable. When you put content on the blockchain, you know it wasn ’ t changed or if it was, there is a record .
The above scenario is related to security. Without EOS, if the server gets compromised, you can lose all the data on that server. Or an admin with misguided goals might modify records .
The blockchain decentralize applications. You no longer send a password to the server. Everyone is dependable. If a hacker compromises the system, they compromise one person alternatively of every body all at once. This means they can ’ t modify records or data after the fact .

How To Invest In EOS

You can ’ thymine buy EOS directly. rather, there is a round about direction to purchase EOS. The flow looks like this : buy BTC through Coinbase then transfer to binance.com, where you can buy EOS with your BTC .
There are more exchanges coming in the approximate future that will allow you to buy EOS. For immediately, we ’ ll have to use Binance .
Let ’ s walk through the march in detail.

1. Create A Binance Account

The first thing you need to do is setup a Binance report .
Binance is a popular choice because it allows crypto-to-crypto transactions from companies like Coinbase. It ’ mho crucial to note that you can ’ metric ton send money to Binance. You have to go to Coinbase – > Exchange ( Binance ) – > EOS .
therefore, you ’ ll constantly need two accounts :

hopefully, this changes soon, but that ’ s how it goes today .

2. Buy Bitcoin or Ether on Coinbase

once you have a Binance history frame-up, you need to buy Bitcoin or Ether on Coinbase .
It ’ mho identical easy to do once you have a Coinbase report apparatus. You merely go to the Buy/Sell page and enter your information. then, your Bitcoin will be in your wallet and you can move to step 3 .
Bitcoin-Coinbase

3. Transfer Your Bitcoin To Binance

once you have your Bitcoin or Ether in your Coinbase account, you can transfer it over to Binance. This is besides fairly easy to do .
In your Binance report, go to your balances then wallets and you can see all the different coins you can hold in your score .
In our case, we ’ rhenium transfer over Bitcoin, so snap on Bitcoin, and you ’ ll see a Wallet Address generate. here ’ s what most look like :
BTC
once you have that address, you go second to Coinbase, choose “ Accounts ”, and then “ Send. ” You ’ ll see this sieve come up where you can send your Bitcoin to the address generated in Binance :
Send BTC To Binance

4. Buy EOS

once you have your Bitcoin in your account at Binance, you can last buy EOS .
In your Binance report, execute the EOS/BTC ( or EOS/ETH ) substitute .
once you place your trade, it will show up in your Binance history .

Final Thoughts

If you are a developer, EOS provides a great platform for creating blockchain based, decentralized applications. This is a relatively new space in how it being made available to developers .
While EOS as a cryptocurrency doesn ’ metric ton yet provide much use, it is still available to trade. With investors pouring money into the company, it ’ mho obvious they see long-run rate in EOS .
however, remember, with any cryptocurrency buy, it ’ s extremely hazardous. You are buying something with the “ hope ” that it rises in price and early people on the Internet will be will to pay more for it in the future that you did. That ’ s a huge risk, so don ’ thyroxine invest more than you can afford .
Let us know your thoughts on EOS in the comments !
Robert Farrington Robert Farrington is America ’ s Millennial Money Expert® and America ’ s Student Loan Debt Expert™, and the collapse of The College Investor, a personal finance site dedicated to helping millennials escape scholar loan debt to start invest and construct wealth for the future. You can learn more about him on the About Page, or on his personal locate RobertFarrington.com .
He regularly writes about investing, student loanword debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start build up wealth for the future.

Read more: Bitcoin Mining

He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is besides a regular contributor to Forbes .
How To Invest In EOS (EOS) - The Cryptocurrency That Is A Platform

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