Is EOS (EOS) A Good Buy?

Last Updated January 20th 2022

8 Min Read

Is EOS a good buy? Should you be buying EOS coins in 2022?

Well, EOS has all the features of a good investment and is regarded as the best buy by most crypto investors. From having one of the most widely used blockchain technology to having the edge over its competitors by being more scalable, faster, and more reputable. It also is a tested Ethereum Killer and one of the most promising crypto technologies. Above all, EOS has a net positive return on investment (ROI).

But should you be buying EOS tokens in 2022? What does the future hold for one of Ethereum’s oldest competitors?

We answer all these in detail hereinbelow and help you decide if EOS is worth buying.

Read on.

So, Should You Buy EOS?

You should consider investing in EOS today because it derives much of its value from the natural forces of demand and supply. Unlike most of the new altcoins, EOS does not draw its value from social media hype by celebrity endorsements. This says that as the use case for the EOS blockchain rises - and experts are confident that it will continue rising in the foreseeable future - so does the EOS token prices.

You probably didn’t know this, but since its establishment, EOS blockchain has always ranked highly among the most used blockchains. So far, we have seen several countries embrace blockchain technology and cryptocurrencies with the launch of central bank digital currencies (CBDCs).

Inspired by the move, crypto analysts are convinced that we will soon see different entities start building Daps on the blockchain. And they believe that EOS will be a top choice for the entrants, especially because of its massive scalability and fast transaction processing speeds.

You should also buy EOS because of its resilience and the fact that it has always strived to maintain a positive ROI. Countless times its prices have dipped well below its listing price, and countless times it has recovered and rose to record highs. At the moment, EOS has an overall ROI of a moderate 168.79% - according to CoinMarketCap.

It is true that it will most likely continue climbing in the future. But given the competition it faces from the rest of the Ethereum killers today, it will most probably earn its investors moderate profits moving forward.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Why Is EOS (EOS) So Popular Right Now?

EOS has been thrust into the limelight in the recent past, first because of the developments within the EOS network and, secondly, due to the ongoing race to replace the rather rigid Ethereum as the dominant smart-contract-capable blockchain. In 2020, this race heated up as more and highly innovative blockchains launched and set aim at dethroning Ethereum.

But EOS was one of the few successful pioneers in this race. So, the new entrants have been often compared to EOS and its journey so far. It has become the yardstick that these new blockchains can measure their successes and failures, which makes it a key topic of discussion in the Ethereum succession race.

Ethereum’s rigidity and relatively high transaction fees have ignited the scalability and speed debate, which ultimately ropes in EOS. The situation was especially dire earlier in 2021 and at the height of the price rally when transaction fees on Ethereum shot above $50. This kicked off an online discussion about Ethereum’s sluggish transition towards ETH 2.0 and the need for an alternative.

We must also add that EOS is not new to controversy, and this too can be said to have played a key role in stirring the EOS debate. There have been leadership wrangles in its parent company Block.One, it has been fined $24 Million by the SEC and has faced scrutiny from the crypto community, who believe that its delegated proof of stake model allows for collusion.

But all that seemed to have faded away until Daniel Larimer - the co-founder of EOS blockchain and Block.One abruptly left both entities in January 2021. The move helped bring EOS back to the spotlight as investors and analysts question Larimer’s unceremonious exit and flashback on EOS controversial past.

But what role has this popularity played in influencing EOS token prices? We check this by looking at the altcoin’s price and position in the crypto market.

How Much Is EOS (EOS) Worth Today?

At the time of writing this, EOS is trading at $2.77. It is up by about 1.64% in the past 24 hours but is still trading more than 81.38% below its May 2021 peak price of $14.88. For the past 30 days, it has been ranging between $2.60 and $3.53. It is ranked 52nd on CoinMarketCap’s list of the largest cryptocurrencies with a market capitalisation of $2.7 Billion with a circulating supply of 978 Million EOS coins.

Like most cryptocurrencies, EOS has been stuck at the dip since mid-May when Bitcoin prices crashed.

Before this, the Ethereum killer was on an uptrend and had just crossed above $10 for the first time in three years. Investors and crypto analysts were, therefore, convinced that this was after all the break the coin needed to rise above its 2018 all-time highs and reach unimaginable heights.

Today, they are optimistic that the downtrend affecting the crypto industry will reverse and that EOS token prices will rise again and resume the previous bullish rally.

But how soon with the fear, uncertainty, and doubt ruling the crypto market at the moment ease and make way for an uptrend? How long can we wait for EOS to reach $100?

Will EOS (EOS) Reach $100 In 2022?

Both the technical and fundamental indicators are quite bullish on the future of EOS and believe that its prices will continue uptrending - but most don’t believe it could climb to $100 by the end of the year.

Different crypto analysts and price perdition websites are also confident that EOS has all it takes to break above $100. And that it will eventually get here, but seeing that it is currently trapped in the deep, they don’t see how this could happen in 2022.

During the January to May 2021 price rally, EOS prices grew sevenfold. If it had maintained this momentum, it could have grown this price by another 7X and hit $100 before the end of 2021. In fact, most analysts and price prediction tools expected EOS to break above this target price before the end of the year or in 2023.

Today, these analysts and price prediction websites can only see EOS reaching $100 in the next 5 years. And this, too, is not a guarantee as it is largely dependent on how soon the crypto market reverses the downtrend. The sooner it gets back to rallying, the faster EOS reaches $100, and vice versa.

Put simply, EOS has all the features of a good long-term investment.

But how then do you start the EOS buy process? Where can you buy the EOS tokens today?

Don't Miss: EOS Price Prediction Forecast

How to Buy EOS (EOS) Coin

If you are looking to buy and hold on to EOS tokens for the long-term you wait for it to rise, or simply want to trade its volatile daily price action, we recommend that you use the all-popular and user-friendly eToro.

Here is the step-by-step guide on how to go about buying your first EOS token on the crypto brokerage:

Step 1: Create a trader account on eToro and verify your identity.

Step 2: Fund this account with at least $200 (the eToro minimum deposit limit).

Step 3: Click on the Trade Markets tab, choose Crypto and select EOS coin.

Step 4: On the trading page, customise the trade by entering the amount of EOS you wish to buy.

Step 5: Tap on the Open Trade button to complete the transaction.

That’s it. You now are an EOS investor. And the best part is that eToro will insure these tokens and keep them in an ultra-secure offline wallet on your behalf.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Conclusion: Is EOS (EOS) A Good Buy?

EOS definitely is a good long-term buy for crypto investors as well as a lucrative buy for short-term traders. The fact that these altcoins have the backing of one of the most promising blockchain technologies assures us that it will continue gaining value while the volatile daily price movements make it a goldmine for day traders.