Guide: How To Buy EOS Tokens On Binance

· 11 Feb 2018 in Guides, Home

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 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

Best Wallet For EOS Tokens

The EOS tokens being and ERC-20 tokens are compatible with the MYEtherWallet and MetaMask wallet as well.

Few others support the ERC-20 tokens like the Mist, Parity, imToken, Trust, and Cipher.

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.

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.

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

The Bear Market Report
Our Bear Market guide not only helps you survive this crypto winter, but also guides you through the foundation you'll need to thrive in the next bull run.