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How to buy, sell and trade EOS coin

Read our beginner’s guide to buying the EOS cryptocurrency in Australia.

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We’re committed to our readers and editorial independence. We don’t compare all products in the market and may receive compensation when we refer you to our partners, but this does not influence our opinions or reviews. Learn more about Finder .

Following the highly anticipated launch of its mainnet in June 2018, EOS has continued to cement its position as one of the world’s largest cryptocurrencies by market cap. Providing the infrastructure for the development of decentralised applications (dapps), EOS aims to dethrone Ethereum as the world’s number-one blockchain-based dapp platform.

If you want to buy EOS but don’t know how, you’re in the right place. Keep reading for step-by-step instructions on how and where to buy EOS.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
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Quick guide: How to buy EOS

  1. Register for an account with a cryptocurrency exchange like Swyftx.
  2. Verify your account.
  3. Go to the deposits section
  4. Select your preferred payment method and confirm.
  5. Go to the buy section and select the cryptocurrency you want to buy.
  6. Enter how much you want to buy, or how much you want to spend.
  7. Double check the details and confirm your purchase.
Go to Swyftx's site

This is our quick guide to just one way to buy EOS. Compare some other options in the table below.

Where to buy EOS

Name Product Deposit methods Fiat Currencies Cryptocurrencies
BPAY,Cash,POLi,PayID
AUD

196
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 150 cryptos.
Bank transfer,POLi,Osko,PayID
AUD

177
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Bank transfer,POLi
AUD

49
cryptocurrencies

Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet.
Credit card,Cryptocurrency,Debit card,Osko,PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

268
cryptocurrencies

Get $5 cashback when you make your first PayID/Osko deposit on Binance.com/au.
Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Credit card,Debit card,Neteller,PayPal,Wire transfer,Online banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

16
cryptocurrencies

Disclaimer: Volatile investment product. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Bank transfer (ACH),PayPal,Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

66
cryptocurrencies

Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Cash,Cryptocurrency,Electronic Funds Transfer,POLi,PayID
AUD

106
cryptocurrencies

Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.
Cryptocurrency,Electronic Funds Transfer,POLi,SWIFT,PayID
AUD, NZD, USD

15
cryptocurrencies

Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
Credit card,Bank transfer (SEPA),SOFORT,SWIFT,Fedwire
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Electronic Funds Transfer,Wire transfer,Osko,PayID,Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF, AUD

47
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
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Compare up to 4 providers

A step-by-step guide to buying EOS

In general terms, there are two main options to choose when buying EOS:

If you’ve just discovered cryptocurrency and you don’t have any trading experience, the quickest and easiest option will most likely be to buy EOS with Australian dollars. However, for your convenience, we’ve included step-by-step instructions on how to buy EOS with fiat currency and with another cryptocurrency.

Buying EOS with fiat currency

If you want to buy EOS with Australian dollars, here’s an example of how you can do it on Melbourne-based cryptocurrency exchange CoinSpot:

Step 1. Register for a CoinSpot account

EOS is listed on a huge range of exchanges, but only a select few of them allow you to buy with Australian dollars. You can register for a CoinSpot account by providing the following:

  • Your name
  • Your email address
  • Your phone number
  • Proof of ID
  • Proof of residency
  • A photo of yourself holding a signed statement

Don’t forget to also enable 2-factor authentication on your account before proceeding to step 2.

Go to CoinSpot's website

Step 2. Deposit funds into your account

Once verification is complete, log in to your account and click on the “Deposit AUD” link from your account dashboard. CoinSpot accepts online deposits via POLi Payments and BPAY, while you can also make a cash deposit at a participating newsagent via blueshyft.

Step 3. Buy EOS

When the funds have cleared in your account, click on the “Buy/Sell” link at the top of the screen and search for EOS in the list of supported currencies. Click on “Buy EOS” and then specify either the amount of EOS you want to buy or the amount of AUD you want to spend.

Make sure you take a moment to review the full details of your purchase before clicking “Buy” and submitting your transaction.

Buying EOS with another cryptocurrency

You can also acquire EOS by exchanging another cryptocurrency for it. Here’s an example of how you can buy EOS with another digital currency on Binance:

Step 1. Register for a Binance account

EOS can be traded on a huge number of crypto exchanges, so compare the features of a number of platforms that list EOS before choosing the right one for your needs.

If you want to use Binance, one of the largest exchanges in the world, you can sign up for an account by entering your email address and creating a password. You should also make sure to enable 2-factor authentication on your account for increased security.

Step 2. Deposit cryptocurrency into your account

The next step is to decide which cryptocurrency you want to exchange for EOS. Binance lists EOS in trading pairs alongside bitcoin, Ether, Tether (USDT) and Binance Coin (BNB). If you need help acquiring any of these currencies, check out our how-to-buy guides:

Once you’ve decided which coin you want to deposit, find the correct deposit address by logging in to your Binance account, clicking “Funds” and selecting “Deposits”, and then searching for your chosen currency. Copy the wallet address or scan the QR code provided to ensure you’re sending funds to the right place when making a deposit from your external wallet.

Step 3. Buy EOS

The last step in the process is to click the “Exchange” tab in your Binance account and decide whether you’d prefer the “Basic” or “Advanced” trading view. It’s then a matter of searching for the pair you want to trade, such as “EOS/BTC”, selecting the type of order you want to place and specifying the amount of EOS you want to buy.

Regardless of whether you’re using Binance or any other platform, remember to review the transaction details before you click “Buy EOS”.

How to sell EOS

If you want to sell EOS coins, the process you’ll need to follow is similar to that described in step 3. EOS can be traded against a number of fiat and cryptocurrencies, so take some time to find an exchange that offers your desired currency pair.

Of course, when placing your trade, remember to use the “Sell EOS” part of the trading screen.

Which wallets can I use to hold EOS?

EOS tokens were originally issued as ERC20 tokens on the Ethereum blockchain. However, following the launch of the EOS mainnet in June 2018, these ERC20 tokens were exchanged for coins issued on EOS’s own blockchain as part of a token swap.

As it’s still early days for the EOS mainnet, there’s currently only a limited number of wallets that support EOS coins. Options include mobile wallets like Infinito Wallet, the SimplEOS desktop wallet and the Scatter browser extension.

Check out our guide on EOS wallets for more tips on safely storing EOS.

How EOS works

EOS is designed to provide developers with everything they need to create and deploy commercial-grade dapps. Its end-to-end software solution includes user authentication, accounts, storage, server hosting and more. It is also designed to scale to millions of transactions per second.

EOS uses a delegated-proof-of-stake (DPoS) consensus mechanism that allows EOS coin holders to select block producers through a continuous approval voting system. Anyone can participate in block production if they wish, with new blocks produced every 0.5 seconds.

EOS was built by a company known as block.one, led by CEO Brendan Blumer and CTO Daniel Larimer. Larimer is a highly regarded figure in cryptocurrency circles and has previously spearheaded the development of blockchain projects Steem and BitShares.

Read our complete guide to EOS.

What to consider before you buy EOS

Before buying EOS or any other cryptocurrency, it’s essential to do your own research into how the currency works and the factors that could potentially affect its price. Digital currencies are complicated, volatile assets, so make sure you’re fully aware of the risks involved before making a purchase.

If you’re thinking of buying EOS, consider the following factors:

  • Supply. According to CoinMarketCap, at the time of writing (July 2018), the circulating supply of EOS was 896,149,492. The maximum supply of coins is 1 billion EOS, with 10% (or 100 million) of those reserved for block.one.
  • Competition. EOS is far from the only challenger to Ethereum, with NEO, Cardano, Qtum and a host of other platforms competing for market share. Competition from these projects could have an impact on the level of widespread adoption EOS achieves.
  • White paper. If you want to know more about the technology behind the EOS platform, check out the EOS technical white paper.
  • Airdrops. Many projects that launch their own cryptocurrencies on the EOS blockchain also conduct airdrops of their own tokens to EOS holders. Find out more about how this works in our list of upcoming EOS airdrops.
  • Partnerships. In the first quarter of 2018, block.one announced a partnership with digital assets merchant bank Galaxy Digital to develop the EOS ecosystem and invest in projects that use EOS blockchain software. It also joined forces with German fintech incubator FinLab AG to develop projects using EOS software.

By considering a wide range of factors that could potentially affect the price of EOS, you’ll be able to make an informed decision about whether you should buy EOS.

FAQs

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Images: Shutterstock

Disclosure: At the time of writing, the author holds ADA, ICX, IOTA and XLM.

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