Frequently asked questions

EOS is a decentralised system aiming to facilitate the development of decentralised applications (DApps). In that sense, it can be viewed as an competitor to Ethereum or Cardano. EOS allows secure communication and permissioning between DApps and the wider internet. You can think of these applications as the blockchain equivalent of web-based applications which transformed the internet not so long ago.

The code is open-source, and can be found on GitHub.
The network uses a form of delegated proof of stake to achieve consensus. This contrasts with Bitcoin, which uses a proof-of-work mechanism.

The value of EOS is heavily tied to the wider crypto market, and to Bitcoin specifically. If you see BTC go up or down, then you can be reasonably sure that EOS will follow. Of course, the continued value of the EOSIO platform is the fundamental success of the currency with which it’s associated. If the platform falls into obsolescence, or into disrepute, then we can be reasonably sure that the coin will start to decline.

You can buy EOS on a crypto exchange. All you need to do before you can start trading is finding one here on Cryptoradar, create an account, verify your identity and send money to the exchange.

A crypto exchange (or cryptocurrency exchange) is a marketplace where buyers and sellers trade cryptocurrencies. Just like regular stock exchanges, a cryptocurrency exchange serves as a middleman who sets the market price at which an equal number of buyers and sellers can be found.

Is now a good time to buy EOS? Frankly, we don’t know.

But there are several strategies when it comes to crypto investing. One approach is to buy in when price slips. In the crypto community this strategy is known as "buying the dip" (BTD).

Another strategy is dollar-cost averaging: investing a certain amount of money on a set schedule, say $100 every Monday morning. Dollar-cost averaging seeks to average out the lows and highs over time.

No matter which strategy you choose, Cryptoradar’s price alerts help you to not miss a dip, and adhere to your investment schedule.

There are risks associated with any investment. Crypto markets are particularly volatile, with large upswings and downswings. Only invest as much as you can afford to lose.

When it comes to choosing a crypto exchange, there are also a couple of thinks to be wary of.

Before you can start trading, a crypto exchange will ask you to verify your identity. This is necessary because of anti-money-laundering laws. The verification process and time can differ significantly and take anywhere from minutes to weeks.

All crypto exchanges charge a fee or a spread to finance their operations. Fees can differ significantly among exchanges, so make sure to get a good deal.

Additionally, make sure that your preferred crypto exchange supports the payment methods of your choice, but be aware of any additional payment fees that may apply.

Last but not least, if you’re new to crypto, make sure that your chosen platform is easy to use and has good customer support. This helps you avoid making costly mistakes.

If you’re looking to invest in EOS then you’ll find your options limited by your choice of exchange. Certain exchanges will only allow payment via bank transfer, while others are more permissive. You can compare the options available using Cryptoradar. Make sure you tailor the search filters to your precise needs, and discover the exchange that’s right for you.

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