A Beginner’s Guide to Buying and Selling EOS Cryptocurrency in Ireland
If you’re based in Ireland and wish to buy EOS – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many EOS tokens you want to buy.
EOS is a blockchain-based dApp platform that aims to provide a more scalable network for applications. Since 2018 when its mainnet was launched, EOS has continued to attract a lot of support and has gained tremendously in the market. It has become one of the largest cryptocurrencies in the world by market capitalization. EOS offers the infrastructure for the development of decentralized applications (dApps).
If you’re looking to buy EOS but are confused about how to get started, the following guide will be very important to you.
What's in This Guide?
The guide provides information that will enable you easily buy EOS from a cryptocurrency exchange. It offers a step-by-step process for buying crypto assets. It also explains how to sell EOS, as well as which place is better to hold the token. The guide explains more about EOS and the things you should consider before buying it in a crypto exchange.
- QUICK GUIDE: HOW TO BUY EOS IN THE IRELAND
- Where to Buy EOS in Ireland
- A Step-by-step Guide to Buying EOS in Ireland
- How to Sell EOS
- Which Wallets Can I Use to Hold EOS?
- Key Things to Consider if You're Thinking About Buying EOS in Ireland
QUICK GUIDE: HOW TO BUY EOS IN THE IRELAND
- Open an online account with an exchange
- Verify your account
- Deposit funds into your account
- Search for EOS and click Buy
- Enter the amount you want to buy
- Review the details of the transaction
- Confirm your EOS order
Where to Buy EOS in Ireland
You can buy your EOS tokens from a cryptocurrency exchange. It’s the safer and easier place to buy the token in Ireland.
A Step-by-step Guide to Buying EOS in Ireland
There are two major ways you can buy EOS in an exchange: using fiat currency or buying with another cryptocurrency.
Buying EOS with other cryptocurrencies
If you’re looking to buy EOS and you already have another crypto asset such as Bitcoin (BTC) or Ethereum (ETH), it will be easier to register with an exchange and buy directly there. Almost all types of exchanges accept deposits via BTC or ETH, you won’t lack options.
Buying EOS with fiat currency
On the other hand, if you don’t have any other crypto asset in a wallet, you can still buy EOS from an exchange. However, your options will be limited because there are only a few exchanges that accept fiat currency (Euro) when funding your accounts.
You can still find some popular exchanges with this option. The following is a step-by-step guide that will help you buy EOS from an exchange using fiat currency.
Step 1: Register with an exchange
The first step to take when buying EOS with fiat currency is to find an exchange that accepts such currency and register with them. EOS is listed on a wide range of exchanges, but only a limited number of them offer fiat currency deposits. When choosing an exchange that accepts EOS, remember to select the one that offers EOS trades on their platform.
During registration, you may be asked to provide your email address, residential address, as well as proof of ID as a measure to maintain the KYC (Know Your Customer) rules. Additionally, enable two-factor authentication on the platform to give your account added level of security. After providing the details, review them before submitting them. Your account will be created speedily and a confirmation email will be sent to you once the account is ready.
Step 2: Deposit funds into your account
After registering with the right exchange, proceed to the deposit section to add funds to your account. Enter the number of funds you want to deposit and review the information. Enter the payment details from your debit card, PayPal balance, or pay directly through direct transfer.
Once the transaction is executed, your account will be credited and a confirmation email will be sent to you.
Step 3: Buy EOS
When the funds have cleared in your account, you can proceed to the “Buy/Sell” link to purchase the EOS token. Search for EOS in the list of supported currencies and select the right pair. In this case, it should be EOS/EUR if you’re residing in Ireland. Enter the amount of EOS you want to buy and review the transaction before clicking the “Buy” link. Once the order is received and executed, you will receive an email confirmation.
How to Sell EOS
If you want to sell EOS coins, you will need to follow a similar process when you were buying them. EOS can be traded against a wide range of currencies, including crypto-assets and fiat currencies. So, you should choose the right currency pair on the exchange. Here, instead of the “Buy EOS” link, you need to click the “Sell EOS” link. Enter the amount of EOS you want to sell and complete your order.
Which Wallets Can I Use to Hold EOS?
If you’re looking to hold your EOS tokens, it will be better to keep them in a hardware wallet or a software wallet. But the former is safer because it stays offline and out of the reach of scammers or hackers. However, you should use the online crypto wallet (hot wallet) if you want to access your EOS tokens regularly.
How EOS Works
EOS is designed to equip developers to create and deploy commercial-grade dApps. The blockchain-based network has an end-to-end software protocol that includes server hosting, storage, and authentication accounts.
Initially, EOS tokens were issued as ERC20 tokens on the Ethereum blockchain, but they were later issued and used on EOS’s blockchain after the launch of its mainnet.
Key Things to Consider if You're Thinking About Buying EOS in Ireland
The following are some of the important things to consider when buying EOS tokens in a crypto exchange in Ireland.
EOS has other competitors in the market, which has affected its level of adoption. Platforms and tokens like Qtum, Cardano, NEO, and Ethereum are all vying for the same market. So, it’s a bit more difficult for EOS to gain a wider level of acceptance as expected.
The availability of a token can determine how easily it can be traded on exchanges. EOS is readily available across several crypto exchanges and has been adopted by a wider population of the crypto community.
EOS developers have series of partnerships going on to make the project very successful in the future. The blockchain has partnered with German fintech incubator FinLab AG for the development of projects using EOS software. It has also partnered with digital assets merchant bank Galaxy Digital to develop the EOS ecosystem. These could also help push the price higher.
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Where can I buy EOS in Ireland?
The best place to buy EOS in Ireland is in a cryptocurrency exchange. It is safer and more convenient to buy EOS in an exchange.
Can I buy EOS using fiat currency?
Yes, it’s possible to buy EOS using fiat currency, but the number of exchanges that accept such deposits is few.
Where can I store my EOS tokens?
You can hold your EOS tokens either in a hardware wallet or in a software wallet.