How to Buy EOS in the USA
A Beginner’s Guide to Buying and Selling EOS Cryptocurrency in the USA
If you’re based in the USA and wish to buy EOS. All you need to do is find a regulated USA exchange, deposit funds, and decide how many EOS tokens you want to buy.
The interest in EOS has grown in recent months as the decentralized finance (DeFi) sector keeps developing. The EOP platform enables corporate programmers to easily understand decentralized applications. With its user-friendly interface, solutions to scalability issues, and unique infrastructure, EOS is surely a project that has gained momentum among investors. Its token has also increased both in acceptance and price, as it’s being traded across many crypto exchanges.
If you’re interested in buying the EOS token and you don’t know where to start, the guide below will come in handy for you. The following is a step-by-step approach to buying, selling, and storing EOS in the USA.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY EOS IN THE USA
- A step-by-step guide to buying EOS in the USA
- Which wallets hold EOS?
- How to sell your EOS tokens
- Things to consider when buying EOS in the USA
QUICK GUIDE: HOW TO BUY EOS IN THE USA
- 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
A step-by-step guide to buying EOS in the USA
Step 1: Open an Online Account
The easiest way to buy EOS is to register with a cryptocurrency exchange and fund your account with them. Crypto exchanges offer a wide range of cryptocurrencies, including EOS. But each of them has its separate features. Some may allow you to deposit your funds in fiat currency while others may not have such an option. So, if you don’t have any other cryptocurrency you can use to buy EOS, it’s better to choose an exchange that enables fiat currency (USD) deposits.
Once you select the right exchange, proceed to the registration section and enter the details, including your email address. Create a password you can use to access the account. In some exchanges, the above is all you need to do to complete registration.
But some crypto exchanges may require additional information such as your proof of address, proof of ID, and employment details. These are required to fulfil the Know Your Customer (KYC) requirements. Once you provide these details, your registration will be approved and a confirmation message will be sent to your email.
Step 2: Fund your account
The next step after registering with a cryptocurrency exchange is to deposit funds into the exchange account. Since you registered with a platform that accepts fiat currency, you can navigate to the account section and select the type of funding source.
Most exchanges provide different options, including credit card, debit card, PayPal, as well as deposits through direct bank transfer. Remember that each deposit option comes with a transaction fee, with the credit card option being the most expensive. Select the most convenient option and enter the number of funds you want to deposit.
Once the transaction is approved, a confirmation email will be sent to you while the amount you deposited will reflect in your online account. Once the funds hit your account, you are ready to buy EOS.
Step 3: Buy EOS
This is where you need to navigate to the market section of the platform to choose the right crypto pair. Since you are buying EOS with fiat currency, you should be selecting the EOS/USD option. However, you may likely not see a direct trading pair between fiat currency and EOS. In this case, you need to buy a popular cryptocurrency pair such as BTC or ETH, which should be available on the platform.
After placing an order for the token and the order is executed, you can proceed to buy EOS with that cryptocurrency. Enter the amount of EOS you want as well as other order details, such as the type of order.
Review the order to make sure what you want is what you have entered. After the order is executed, the amount of EOS crypto assets will be deposited into your online account. There, you can decide whether you want to trade it with another cryptocurrency or store it in a crypto wallet.
Which wallets hold EOS?
After buying EOS, you may want to keep it safe from the prying eyes of hackers and other threat actors. While crypto exchanges can also hold your crypto, it’s strongly advised to get a crypto wallet due to security. Exchanges are prone to cyber-attacks and you can lose all your funds on the platform after such an incident. But with a crypto wallet, especially an offline or hardware wallet, your EOS token will be safer.
How to sell your EOS tokens
Selling your EOS token in the exchange is also very easy. Like in step 3 above, you have to follow a similar process. The only difference, in this case, is you will be selecting the “Sell” option in the market section. You will also have loads of options regarding the type of currency you want to buy in exchange for the EOS tokens. If you’re looking to exchange EOS for fiat currency and you can find such a pair, you have to exchange it with a popular crypto asset, as you did in step 3. After getting the crypto asset, it will be easy to exchange it for fiat currency.
Things to consider when buying EOS in the USA
There are several things you need to consider before buying EOS in the USA. These include:
Before you select a crypto exchange and proceed to register, you need to consider the payment method of the exchange. Many exchanges only accept deposits on their platform using cryptocurrencies. Only very few exchanges will fund your online account via bank transfer, PayPal, or credit card payment. So, before you decide to buy EOS, find the right exchange that allows you to deposit fiat currency if you don’t have any other cryptocurrency in a wallet to fund your account.
Consider the market volatility
The volatility of the cryptocurrency market is one of the highest in the world. As a highly speculative market, EOS and other crypto-assets can change in price and move in an opposite market direction in a very short time. This makes it very critical for investors to be careful when entering or leaving the market. As the token can bring massive gains for a buyer or investor, it can also lead to enormous losses. As a result, you should be aware of market fundamentals, especially if you’re planning to trade regularly.
Consider the future of the token
Some cryptocurrencies are bedevilled with legal issues and technical challenges, which can disrupt its growth. Fortunately, EOS doesn’t have any legal or technical issues. The cryptocurrency has grown massively in the industry, becoming the 6th largest crypto asset in the industry when it comes to market capitalization. With the technical knowledge of the developers and the backing of a strong community, the future of the token looks bright. This has attracted a lot of investors.
The cryptocurrency market has seen a lot of ups and downs in recent times. Despite the challenges, investors and traders are still flocking to invest the crypto assets they have full confidence in. EOS is one of the crypto assets that have received a lot of attention lately. If you’re looking to buy cryptocurrency in the USA, the guide above will help you a great deal.
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