Coinsquare is the most trusted cryptocurrency trading platform in Canada. We facilitate your participation in the cryptocurrency space with over 50 of the top crypto coins on the market, including the popular EOS (EOS) coin.
Want to learn more about how to invest in cryptocurrencies like EOS? This page covers the essentials for beginning crypto investors, with instructions on how to get started quickly.
Add money in the currency of your choice (this can include CAD). These funds are what you’ll use to buy EOS.
Before you buy, you can check the current price of EOS, or any other token listed in Coinsquare in CAD or USD.
Congratulations! You are now an owner of the EOS cryptocurrency, along with thousands of others in the EOS community!
EOS is a decentralized blockchain technology wherein developers and businesses can easily create, host, and run industrial-scale decentralized applications for businesses. EOS is comparable to other traditional web applications. In fact, developers often compare it to the Google Play Store and the Apple App Store. With EOS, you can securely access and authenticate users and host data, manage usage, set permissions, and allow communication between dApps and the internet.
EOS is made to act like a “real computer.” For instance, three main resources make the EOS blockchain work:
Block.one, established by Brendan Blumer and Dan Larimer, founded the EOS project. Dan Larimer is well-known in cryptocurrency for starting other projects like Bitshares and Steemit. The idea behind EOS was to make a blockchain platform that can handle transactions fast and effectively, support big applications, and be easy for developers and users to use.
In June 2018, an initial coin offering raised over USD 4.1 billion. The EOS.IO open-source software was launched to the public on June 1, 2018, and 1 billion EOS tokens were distributed. The EOS.IO is run by a decentralized group of block producers who use the delegated proof-of-stake (DPoS) consensus mechanism.
The goal of EOS is to allow businesses and users to create an efficient platform for building dApps, while also addressing the issues faced by traditional blockchain platforms like Ethereum. As we all know, scalability is one of the major issues blockchain technology faces.
For instance, Ethereum has slow transaction speeds - only capable of processing around 13 to 15 transactions per second. But that’s not all; users must pay “Gas fees” to use any of the dApps on the platform. This is inefficient because users are unlikely to want to use a system that requires them to pay a fee for every transaction.
Although Block.One is the main developer of EOS; it does not have any control over the ecosystem. Every user can vote and participate in the decision-making process, which decentralizes the entire upgrade mechanism and engages every staking user in determining the project’s future.
The creators and supporters of EOS have highlighted the main features that make this platform stand out:
Since EOS was first launched, it has experienced substantial growth and progress. Some key advancements include:
Investors with all levels of knowledge are welcome to participate in the exciting world of EOS investing, trading, mining, and all other activities in this technology space. As an inclusive community, crypto arenas work to be accessible to everyone.
Coinsquare is vigilant about education, maintaining a real-time news feed in its mobile app, and providing 24/7 customer service support for all our account holders.
Before investing in EOS, do your research and your due diligence. Evaluate the market performance, the EOS community, and the security aspects of EOS. As you immerse yourself in the crypto space, you can go further: assess the project’s partnerships with other companies and organizations, figure out what EOS’s plans are for the future, and evaluate the EOS community’s engagement, online presence, and enthusiasm.
Anyone who wants to invest in EOS should understand basic concepts like what a blockchain is, how blockchains work, and the purpose of consensus mechanisms like Proof of Work and Proof of Stake. These concepts are reasonably accessible and essentially the same for all cryptocurrencies. You can find plenty of online guides to explain them. If they don’t make sense to you right away, stick with it and search for resources that are suited to your learning style.
EOS’s market performance and price data over time isn’t representative of where EOS is going, but it will give you a sense of the confidence other investors have had in it. As with all investments, past results are not indicative of future performance, so be diligent in your research before buying any type of investment
Also, consider the market capitalization for EOS. The market cap is a metric used to indicate the total value of EOS. Each cryptocurrency has a market cap. This figure is important because it can be used to compare different cryptocurrencies and evaluate their relative dominance on the market overall.
Coinsquare makes this data easily accessible. We provide all the information you need to make an informed decision about buying EOS.
Sufficient liquidity when purchasing EOS on the trading platform you choose is important so that it’s easy to buy and sell without significantly impacting the price. Trading volume can be used as an indicator for trading interest in EOS within a specific timeframe.
Look into the partnerships that EOS has established with other companies and organizations. Partnerships with reputable, well-respected companies indicate trust in EOS. These partners often conduct extensive due diligence, which will give you confidence in EOS and its ongoing viability.
Partnerships with tech companies can also give EOS access to resources like expertise and equipment, while strategic partnerships can provide the financial backing that EOS needs to shore up its stability and continue to innovate and grow.
Overall, solid partnerships suggest that other companies see value in EOS and are willing to back it with their own resources.
A large and active community is important to a cryptocurrency’s success. Follow EOS’s social media channels to see how involved people are with EOS, keep up with the news about it, and get a sense of the community vibe. Developer support for EOS can give you additional information about the EOS community.
Investigate any past security incidents and see how they were addressed. Check on the social media chatter about these incidents to evaluate how the public and the EOS community responded.
Collecting information about EOS before you invest will help you make better investment decisions and manage any potential risks. Coinsquare is dedicated to giving you as much information as possible to help you get comfortable in the crypto space.
You have options for trading platforms in Canada. Why choose Coinsquare?
Here are the advantages we offer to individuals or organizations interested in EOS or other cryptocurrencies:
Since its founding in 2014, Coinsquare has become a leader in the cryptocurrency space in Canada. Over the past decade, we have welcomed over 500,000 Canadian users to the crypto space and facilitated trades in excess of 8 billion Canadian dollars. We have the experience, customer base, and dedication to the community to have earned an outstanding level of trust and success. Open an account today; let’s see where we can go together!