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Guide: How To Buy EOS Tokens On Binance

Introduction

The EOS blockchain platform is for the development of decentralized applications similar to Ethereum network. It makes the process of developing applications on the network accessible by providing application developers with services and functions they can use. The EOS potential in 2018 is higher than any other cryptocurrency.

EOS has the potential to become one of the largest and most recognized crypto networks in the industry.

EOS platform was launched by Dan Larrimer who is the creator of Steem and BitShares in 2017. It aims to bring together the best features of diverse, smart contract technologies. That is the security of Bitcoin and the computing power of Ethereum in one single platform. The platform is set to have scalable decentralized applications for day-to-day use.

The EOS team envisions to build a blockchain decentralized applications platform that is secure and easily scalable to thousands of transactions every second.

EOS tokens are ERC-20 tokens which are distributed on the Ethereum network. On this guide, we’ll teach you how to buy EOS from Binance Exchange.

At the same time, EOS is one of the most advanced and revolutionary networks in the space because it has a unique way to approach the challenges of governance in decentralized systems. If you want to learn more about EOS, you can do it in the guide we wrote about what is EOS.

Best Wallet For EOS Tokens

Due to the fact that EOS is a virtual currency, it is very important for investors to be able to have a secure wallet to store EOS. Some of the best wallets include Infinito EOS Wallet, imToken Wallet, Ledger Nano S Wallet and many others such as Exodus Wallet or Scatter EOS Wallet. 

If you want to know about how to store your EOS safely, you can read our guide about the best EOS Wallets in the market.

How To Buy

One of the best places to purchase/exchange your cryptocurrencies is on the Binance Exchange Platform. It’s probably the most popular of all exchanges and also has an easy to use interface.

Before you can trade your coins/tokens on the Binance Exchange, you have to be registered on the platform. Verifying your account as well also lifts some limits initially placed by the platform administrators, but if your exchange is on a moderate scale, just the required registration, which is to verify your registration using the link sent to the email address your registered with should do just fine.

Binance is one of the most popular and recognized platforms in the cryptocurrency market. The exchange became very famous because of the wide variety of services that it offers to users from all over the world. 

The platform does not only offer the possibility to purchase and sell digital assets but it also offers IEO-launching services, a blockchain network, a decentralized exchange called Binance DEX and many other services, including a foundation that gathers donations for people in need. 

If you are asking yourself how to purchase EOS using Binance, let me tell you you are in the correct place. In just a few steps you will be able to acquire the digital assets you need in a fast and secure way.  

According to data provided by CoinMarketCap, Binance registered a trading volume of $853 million in the last 24 hours. This allowed the platform to be the 9th largest in terms of traded volume by users. 

The exchange allows you to purchase or sell EOS with Binance Coin (BNB), Bitcoin (BTC), Ethereum (ETH), Paxos Standard (PAX), TrueUSD (TUSD), USD Coin (USDC), and Tether (USDT). 

Create an account by filling the form on the Binance registration page.

  • Registration is straightforward; you only need to enter a valid email address and a secure password that’s hard for people to guess. You can do this by clicking here.
  • A generated mail would be sent to you to confirm that you registered on the platform. Login to your mail and activate your account. This verifies your registration and gets your process of acquiring EOS tokens started.

Send some Ethereum or fractions of it to the Binance platform.

  • Now that you are logged onto the platform, you need to send some cryptocurrencies to the platform. To do this, click on FUNDS and then the DEPOSITS WITHDRAWAL links at the top of the page.
  • When the page is loaded, you locate Ethereum. The search box on the page helps you find the coin you wish to deposit quickly.
  • Click on the DEPOSIT button in front of Bitcoin and wait for the Ethereum wallet address to be generated. This address is where you want to send your Ether tokens; the value sent should appear on Binance in a couple of minutes at most.
Now you can exchange your Ethers for EOS tokens on Binance Exchange.
  • Click on the EXCHANGE link beside the Binance Logo, then select the Basic link option that appears.
  • The top right corner of the exchange page lists pairs that are being traded on the exchange.
  • Locate the EOS/ETH pair, click and wait a moment for the chart to load up.
  • At the Buy section of the chart for the pair, the first field displays the value of ETH you pay per EOS.
  • The second field lets you enter the amount of EOS you want to buy.
  • Use the buttons 25%, 50%, 75%, and 100% to indicate the number of your funds deposited you are willing to use for the transaction. 100% makes use of all your deposited funds.
  • The last field shows the number of Ethers you are paying for the transaction.
  • Click the BUY EOS button to exchange.

Binance has also added a new option that allows users to purchase different digital assets using a credit card. This is the easiest and fastest way to acquire a virtual currency rather than sending funds from another exchange. It is also one of the most secure ways to do so since you don’t have to open accounts in other exchanges, buy digital assets there and send them to the Binance platform. 

You should have your EOS tokens in a minute or two in the appropriate wallet on the Binance exchange.

Users should always store their digital assets in secure wallets rather than leaving the funds on cryptocurrency exchanges that tend to be targetted by hackers and attackers. To withdraw your funds, you will have to go to the “withdraw” button on the home screen fo the exchange. 

After it, you will have to introduce the information about the wallet you have, specifically about EOS. Once you complete the information requested, you will be able to withdraw your funds. 

At the time of writing this article, EOS is the 8th largest digital asset in the market with a market valuation of $3.91 billion. Each EOS coin can be purchased for $4.22 per coin. 

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