We all know that it is possible to make money by trading and investing in cryptocurrencies. Some of the earliest investors in Bitcoin, who are now very rich, did not do much. Many of them simply bought Bitcoin, left it for several years, and then sold off their investment for top dollars.
Looking at the stories of some cryptocurrency millionaires, it will appear as if investing in cryptos is the easiest way to make money online. However, this is not always the case. The cryptocurrency universe is very tricky and risky. Identifying the right coin to buy is super-important if you want to succeed.
Now to the big question: will EOS make you rich in 10 years? There is no single, correct answer to the question. It all depends on you - your attitude to risk and your willingness to read, learn and make an informed decision.
Now, it is possible that EOS will be an excellent investment that can make you rich in less than ten years even. It is also possible that the coin will not perform so well in the next decade, and your investment will amount to little or nothing.
We always let our readers decide on the assets to invest in, but we ensure that we provide them with the right information to make the right decision. We will do that right here. So, we advise that you read through this piece carefully if you intend to invest in EOS in the long run.
- What Is EOS?
- How EOS Works
- Is EOS a Good Investment?
- EOS Price History
- EOS Price Predictions
- Where Will EOS Be in Ten Years?
- Top Reasons to Invest In EOS
- Why You Should Think Twice Before Investing in EOS
- Should You Play The Long-Term Game With EOS?
- Important Tips for Investing In EOS
- Invest the Smart Way
What Is EOS?
EOS is a cryptocurrency that serves as the native currency of the EOS.IO blockchain platform. The platform itself is a smart contract platform for decentralized applications and protocol. The system is designed as a blockchain-based supercomputer and decentralized operating system that allows developers and businesses to build decentralized applications (dApps).
The EOS.io platform, which can be simply called EOSIO, has smart contract capabilities. It is originally designed to be an enterprise solution for scaling computer resources, emulating computer processing hardware, data storage, and many more. Like other cryptocurrency projects, EOS was launched to solve problems, including the speed, flexibility, and scalability problems of Bitcoin and Ethereum, as well as their high fees.
EOSIO has very powerful tools that developers can access once they hold EOS tokens. Token holders are also allowed to rent out their bandwidth if they have no desire to access these powerful tools. The system utilizes a delegated proof-of-stake (dPOS) consensus mechanism, which was invented by one of the founders, as well as a role-based permission concept. These are instrumental in boosting flexibility for fast, high-level decisions.
Like almost every other cryptocurrency project, EOSIO has a native currency, which is simply called EOS. The token has grown to become one of the popular digital coins and a top choice for most investors. For the regular user, investing in EOS means buying this coin when the price is low and selling when it gets high.
As the primary fuel of the EOS ecosystem, the EOS token has been at the heart of many projects. Because of that, it has become a lot more popular than many cryptocurrencies that were launched before it. Many also believe in the EOS platform, and this translates to more confidence in the coin. Most experts also believe in the value of the coin and its potentials to be a good long-term investment.
How EOS Works
EOS.io is very similar to the Ethereum ecosystem. Both platforms are enterprise solutions that support the creation of dApps and the use of smart contracts. But when it comes to core functionalities, there are strong cases to believe that EOS offers strong upgrades to what you have in the Ethereum network.
EOSIO provides a strong foundation for developers to create DeFi applications. The developers have previously stated that the platform can scale up to a million transactions per second. That is a massive advantage when you compare to Ethereum 1.0 and 2.0, which can only handle 10 and 100,000 transactions per second, respectively.
In addition to speeding up transactions, the EOSIO blockchain reduces gas fees. When users send and receive EOS through the platform, no fees are required. Instead of charging fees, the EOSIO protocol rewards the operators with new EOS tokens. This unique inflationary system sets the system apart from most other cryptocurrency networks.
Another reason EOSIO is becoming a lot more attractive to businesses is the fact that it is developer-friendly. The platform is highly configurable and compliance-focused. It is capable of accommodating thousands of dApps. It has the capability to change how corporate entities access decentralized enterprise solutions that can boost productivity and save costs at the same time.
Read Also: Could EOS Be A Millionaire-Maker Coin?
More About the EOS Token
As mentioned already, the native currency of EOSIO is simply called EOS. This is the cryptocurrency people buy when they want to invest in the EOS platform. Investing in the tokens gives you access to the powerful tools in the network, but you are not under any obligations to use these tools if you are only interested in trading of HODLing the coin.
EOS has become a popular cryptocurrency with lots of potential. We’ve also stated that sending and receiving EOS through the network does not attract any fees. This definitely draws people to the coin. Again, transaction time in the network is super-fast, making the EOS a coin of choice for cross-border payments.
It is also important to state that EOS is a valuable coin. For a cryptocurrency that has the most successful initial coin offering (ICO) of all time, it is understandable that the EOS will continue to make waves in the crypto universe. The coin is doing quite well on the market, and there are indications that it will continue to improve.
Is EOS a Good Investment?
From what we've discussed so far, it is easy to conclude that EOS will be a great investment option for cryptocurrency enthusiasts. Looking at what the platform offers and the advantages of the coin, it is easy to jump to a hasty conclusion. We won't do that here.
To be sure that a cryptocurrency will make a good investment, you need to consider its price history, its current performance, as well as reliable predictions from authority websites and experts. We are going to do all of that right here.
The three factors mentioned above play critical roles in determining the future of a crypto coin and its viability. The major reason for discussing them is to equip you with the right information and allow you to make a decision at the end of the post. It is important, therefore, that you read carefully with an open mind.
EOS Price History
EOS debuted on the market on June 26, 2017, after the most successful ICO in the history of the global cryptocurrency industry. It started selling at $1.03 on July 1ST, 2017. Thanks to its successful ICO and the excellence of the platform, the price of EOS quickly spiked to about $5 in a matter of months. The price dipped after reaching the high point and then moved sideways for the majority of the second half of 2017.
Towards the end of 2017, EOS experienced another major price spike. This time, the coin price skyrocketed above the $10 mark. The upward trend continued into the New Year, 2018. By April, the coin had crossed the $20 mark. Actually, the coin recorded its all-time high of $22.89 on April 29, 2018.
If you are an ardent follower of cryptocurrencies, you will understand that price dipping is a normal thing. EOS experienced a major one towards the end of 2018. The coin's price dropped significantly, reaching as low as $1.74 per coin on December 07, 2018.
2019 proved to be a better year for EOS. The price rose steadily, but not as much as it did in 2017 and the first half of 2018. My May 31, 2019, EOS peaked at $8.52. The price started dipping in the second half of the year. Eventually, the coin ended 2019 at $2.62.
2020 didn’t see EOS’s price move in any spectacular manner. Rather, it mostly moved sideways. While the price slightly rose and fell throughout the year, it started at $2.59 and closed at $2.61 on December 31. That was a paltry 0.772% increase in price, which is nothing compared to the 870.87% price gain in 2017.
Current Position and Recent Performance of EOS
According to Coindesk, EOS price at the time of writing this post is $2.77. In the last 24 hours, the coin has had a low of $2.77 and a high of $2.87. This is a similar performance, compared to the $2.73 price on January 01, 2021.
EOS, like most cryptocurrencies, experienced growth spurts in 2021. According to historical data from CoinMarketCap, the coin reached $4.27 on February 09. It grew further to reach $5.49 on February 13. The coin continued to fluctuate but crossed the $6 mark on April 02. In three days, to coin rose further to reach $7.13 on April 05, 2021. By April 14, it reached $8.07.
EOS reached its highest point of $14.88 last year on May 12. From that point to the moment, the value of the coin has dropped steadily to its current price.
At the time of writing, it has a market capitalization of $2 billion, which makes it the #52nd ranked cryptocurrency in the world. Also, at the time of writing, there are 978,228,394.54 EOS in circulation, and the coin will have a total supply of 1,044,922,206 EOS in circulation.
EOS Price Predictions
Having discussed the price history of EOS and its recent performance, it is time to look at what the future holds for the coin. Know that it is almost impossible to correctly predict the price of a digital coin in the future. But through analysis of its performance and consideration of important factors that affect performance, experts are able to arrive at what they feel is a realistic estimate.
Wallet Investor is one of the top prediction platforms for cryptocurrencies, and they are a bit positive about EOS. They believe the coin will reach $6.15 in one year. They also believe that the EOS coin will be worth about $16.12 in the next five years (2027).
Digital Coin Price is a lot more positive about the EOS price. They predict that the EOS coin can average $3.92 in 2022 and can increase further to $4.67 in 2023. They also believe that EOS will get to $9.4 in five years' time (2027) and increase to $11.7 in 2029.
Long Forecast is also positive about the future of EOS. According to their predictions, EOS can close 2022 at $2.51. They expect the coin to start 2023 at $2.92 and reach $4.88 by August. They predict that the price will rise afterwards and that the coin will finish 2023 at $4.86. They expect the coin to reach $6.96 by the end of 2024. By December 2025, they predict that the coin will be worth about $4.09.
Where Will EOS Be in Ten Years?
It is very difficult to predict with certainty where a cryptocurrency will be in the next ten years. The industry is pretty young, and most cryptos are evolving at a very fast pace. However, we are going to give our verdict of where we feel the coin can be in ten years.
EOS has been called the Ethereum Killer because of the improvements it offers in core functionalities. The price of the coin may be far from that of Ether, but it has lots of potentials.
You can tell from the price history that the coin commands respect and confidence. You can also tell from the predictions above that most experts and industry insiders expect the coin and the EOSIO platform to continue to grow with time. We agree with these positive predictions and believe that EOS will be worth a lot more than its current value in the next ten years.
Though some people and a few sites have predicted that EOS can reach $100 in the next ten years, we understand the need to be cautious with predictions. The token may not rise to such heights in one decade, but there is a good chance that it will be a lot more valuable than it is at the moment.
Don't Miss: EOS Price Prediction for 2025 and 2030
Top Reasons to Invest In EOS
EOS may not be in the top ten ranked cryptocurrencies in terms of market capitalization, but it is one of the most valuable tokens. As clearly clarified earlier, the EOSIO platform is an incredible decentralized network with lots of potential. The coin is doing great, also. By all indications, it can be an incredible investment option for crypto experts. Here are specific reasons you may want to invest in the coin:
- EOSIO has secured several relevant partnerships, thanks to the high adoption of the platform and its coin
- The platform is great and highly scalable
- EOS transactions on the EOSIO network do not attract any fees at all, making it very attractive for financial institutions and conscious individuals
- EOS is backed by Block.One, which is incredible for many reasons
- EOS holds the record of the most successful ICO of all times, and this is just an indication of the confidence it commands
- EOS is reasonably priced at the moment; there is a good chance the price will rise steadily in the future.
Why You Should Think Twice Before Investing in EOS
From all we’ve discussed, EOS can be the best investment you can make in the cryptocurrency space. This doesn’t mean there are no hitches in investing in the platform. In fact, there are reasons you may want to think twice about investing in the coin. Here are the most critical ones at the moment:
- EOS has found it too tough to compete with Ethereum, though it claims to have many advantages over the network
- EOS is relatively quiet on the project update front, making it hard for people to see how it compares to Ethereum on that front
- EOS is subject to volatility, just like other crypto assets.
Read More: Pros and Cons of Investing in EOS
Should You Play The Long-Term Game With EOS?
If you are thinking of investing in EOS and hoping that it can make you rich in ten years, then you are probably willing to play the long-term game with the coin. But is this a sound decision?
From everything we've discussed, it is easy to conclude that EOS appears like a good long-term investment. It is backed by a strong platform, and the token has performed relatively well over the years. Most expert predictions are of the opinion that the price and value of the coin will continue to improve. Obviously, it has the potential to make you rich in ten years.
Important Tips for Investing In EOS
While investing in EOS can be profitable, you need to look deep before investing. Here are a few tips that can help you invest the right way.
- You don't have to invest all your life savings
- You need to buy now that the coin is still reasonably priced
- You don’t have to wait for ten years to cash in – follow the market closely and take advantage of opportunities
- EOS can also be great for short-term investments, but you will need to be active on the market
- Keep reading and studying to become better at online trading and investment.
Invest the Smart Way
EOS can be an incredible investment if you invest the right way. If you are already an experienced investor or trader, then you know one or two strategies that work for you. If you are a beginner or you have no strategies up your sleeves, the smartest way to invest is to work with a brokerage like eToro.
eToro – Best Platform to Buy EOS
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
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