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How to Buy EOS UK – Cheapest Exchanges Revealed

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Featuring disruptive technology and super-fast transaction speeds, EOS is one of the most talked-about cryptos this year. Boasting a heavily experienced development team with the aim of dethroning Ethereum and Bitcoin, EOS looks set to become an attractive investment opportunity for retail and professional investors alike in 2021.

In this guide, we will show you How to Buy EOS UK, discussing everything you need to know about this cryptocurrency and demonstrating how you can invest in EOS without having to pay any commissions whatsoever.

How to Buy EOS UK – Step by Step Guide 2021

Are you looking for a quick and easy guide showing you how to buy EOS UK? Then look no further – the four steps below will walk you through how to buy EOS with FCA-regulated broker eToro in under ten minutes.

  • Step 1 – Open an eToro Account: Navigate to the eToro website and click the ‘Join Now’ button to sign up.
  • Step 2 – Verify your ID and Address: Upload proof of ID (a copy of your driver’s license or passport) and proof of address (a bank statement or utility bill).
  • Step 3 – Fund your Account: Make a deposit via credit/debit card, bank transfer, or e-wallet.
  • Step 4 – Buy EOS: Type ‘EOS’ into the search bar, click ‘Trade’, then enter the amount you’d like to invest and click ‘Open Trade’.

What is EOS?

EOS logo

EOS is the digital currency used on the EOS.IO blockchain platform, which was developed by the innovative software company Block.one. The platform was created by Dan Larimer and Brendan Blumer and was officially launched in January 2018, aiming to provide a medium for smart contracts to be developed and deployed. Furthermore, EOS was also designed to provide a platform where there are no transaction fees and thousands of transactions per second could be able to occur.

Much like many other cryptocurrencies (including Bitcoin), EOS uses blockchain technology to provide its services. In its simplest sense, blockchain tech allows for a vast, decentralised collection of accounts and transactions – also known as a ledger. This ledger is hosted on a secure computer network, which means that all of the computers within the network can be trusted. In turn, these computers can then validate the transactions made on the network, which ensures that data is trustworthy and authentic.

Blockchain technology such as this is expected to become increasingly popular over the next decade. In fact, a recent report by Statista noted that revenues from blockchain tech are projected to reach $39 billion by 2025. Compare this to the fact that they totalled only $3 billion in 2020, and this highlights the potential that blockchain technology has.

Bringing the conversation back to EOS specifically, they use this innovative blockchain technology to create and host decentralised applications (dApps). These applications look set to revolutionise the way individuals and companies do business going forward, as they allow services to be provided which cut out the middleman. For example, if you imagine Amazon as a company, they provide the ability for people to buy and sell items – but they take a cut of the proceeds. With decentralised apps, the idea is that this middleman could be removed, meaning that two parties can directly conduct business with each other safely and efficiently.

buy EOS UK

Aside from smart contracts and decentralised apps, the EOS.IO platform utilises its own native token – EOS cryptocurrency. This token can be thought of as a digital currency that is eligible to be used on the EOS.IO network by dApp developers – they simply need to hold some EOS coins to use the platform’s resources and build applications.

To summarise all of this, EOS is the actual token that is used on the EOS.IO platform. When you buy cryptocurrency such as EOS, you are indirectly investing in the value of the underlying platform. As you can see from the preceding paragraphs, the EOS platform has many great features which enhance its value. If more companies and individuals begin using EOS.IO services, then the EOS token will become more valuable – therefore increasing its price.

Why Buy EOS in the UK?

When you buy shares in a company, you are essentially investing in that company’s performance and value over time. This works the same way when investing in cryptocurrencies such as EOS. As you can see from the previous section, EOS offers a platform with some advantageous and innovative features, which will appeal to a wide variety of people.

One of the main reasons to buy EOS UK is its price potential. EOS hit an all-time high back in April 2018, reaching $23 per coin. Since then, EOS has declined from these heights and is currently sitting at $5.88 per coin – equating to a 75% decrease in value. Although this looks like a negative on the surface, it can actually be thought of as a positive – this provides a fantastic opportunity for investors to buy EOS at a low price and open themselves up too much more significant returns.

eos price chart

According to data from CoinMarketCap, one of the leading crypto data providers, EOS currently has a market cap of just over $6 billion. This makes them the 29th largest crypto in the world, which can also be thought of as a positive. It implies that EOS has a lot of room to grow over the coming years, and when you combine this with its current low price, it highlights an exciting opportunity for crypto investors.

EOS, like many other cryptos, tends to be thought of as high-risk investments. Yet there are some features of EOS that make it stand out, providing additional reasons to consider buying it. Firstly, EOS blockchain technology is entirely free to use – they do not charge any fees for transactions made on their network. This is seen as a huge benefit because other ways to make transactions (such as Bitcoin Cash and VISA) will charge a small fee to do so.

Another reason to buy EOS is due to the scalability that the platform has. The platform utilises ‘parallel transaction processing’, which means that EOS.IO can handle much more transactions per second than other cryptocurrencies such as Ethereum. EOS developers claim that the system can handle up to 10,000 transactions per second – if this is true, it will make the platform very valuable in the years to come.

How Much Does It Cost to Buy EOS?

Buying EOS with the best crypto exchanges and brokers usually involves some fees – however, you can minimise these depending on who you partner with. The main cost to be aware of is transaction fees. These fees are charged whenever you place a trade on the exchange/broker platform and are usually expressed as a percentage of your position size.

These fees can vary substantially; however, some low-cost brokers such as Binance will ensure those transaction fees are as low as possible. Binance only charge a 0.1% transaction fee per trade, which means that if you invested £1000 in EOS, you’d only have to pay £1 in fees!

eos market cap

Some other brokers, such as eToro, will not charge any transaction fees whatsoever. Instead, they will use a spread, which refers to the difference between the bid and ask prices quoted on an asset. This spread can be thought of as the broker’s commission and is usually quite competitive across the board.

Some other costs to be aware of when buying EOS are margin fees and monthly account fees. The former only occurs when you trade with leverage, which is offered by a select few crypto exchanges. The latter refers to a monthly charge that users must pay to use an exchange/broker’s services. However, some brokers such as eToro do not charge any monthly fees – allowing you to buy EOS in a cost-effective manner.

How to Buy EOS with PayPal

In late 2020, PayPal announced that users in the US could purchase a small selection of cryptocurrencies directly through their online platform. At present, PayPal only offers Bitcoin, Bitcoin Cash, Litecoin, and Ethereum for purchase. Additionally, as this service is currently only available to users based in the US, it leaves no way for UK residents to purchase EOS with PayPal directly.

However, you can buy EOS indirectly through eToro. eToro allows you to fund your account with various e-Wallets – including PayPal. Once your account has been funded, you are free to purchase EOS through eToro’s online platform. What’s more, eToro does not charge any deposit fees, regardless of what method you use.

How to Buy EOS with Bitcoin

Another popular way to buy EOS is by using Bitcoin. Most crypto exchanges primarily function through crypto-to-crypto conversions, meaning that if you held Bitcoin in your account, you could use it to purchase EOS. This is usually extremely simple to do and is often accompanied by a minimal transaction fee expressed through the exchange’s spread.

To buy EOS with Bitcoin, simply purchase some Bitcoin through your chosen crypto exchange, and then when you go to place your EOS order, make sure that you are using your Bitcoin holdings to fund the transaction. At the time of writing, 0.5 BTC equates to 4592.85 EOS.

Buying EOS Safely

When buying EOS (and other cryptocurrencies), there are a few things to consider to guarantee you are investing safely. First, you must ensure you are partnering with a reputable crypto exchange or broker. Investing through an unregulated exchange will open you up to the possibility of having your funds stolen, or personal data breached. Ideally, you’ll want to buy EOS with a trading platform that is regulated by the FCA or some other respected organisation.

You’ll also want to ensure you hold your EOS coins in a crypto wallet. Thanks to their advanced security features, these wallets (such as the best Bitcoin wallets) allow you to store your digital currency safely. Many top brokers (including eToro) will offer users a crypto-wallet as part of their platform’s features. This will allow you to buy and hold EOS in the most secure manner possible.

Risks of Buying EOS in the UK

According to CMC Markets, one of the main risks of buying cryptocurrency (including EOS) is volatility. The cryptocurrency market is still relatively new in the grand scheme of things, so large swings in price are not uncommon. These swings can happen on a daily basis – to provide an example, at the time of writing, Ethereum had increased over 6% in the last 24hrs, whilst Dogecoin had decreased by 5%.

Aside from volatility, another risk to note when you buy EOS UK is concerning liquidity. Liquidity refers to how easy it is to buy or sell an asset. If the EOS market has low liquidity, this means it’s more challenging to buy or sell your holdings. When this is the case, spreads tend to be higher – meaning that being involved in the market is more costly.

eos crypto wallet

Another risk to be aware of is the risk of unauthorised access to your EOS holdings. This was touched on in the previous section, but this risk is notable due to the digital nature of cryptocurrency. As you will never physically ‘hold’ EOS coins, they must be stored online – which means that there’s always a small chance that someone could hack into your account and access them.

Again, you can counter this by holding your EOS coins in a crypto wallet. You can opt for a software wallet or a hardware wallet, depending on the level of security you are looking for. These wallets use what’s known as a ‘private key’, which is only known by you (and the wallet). This key will allow you to access the wallet and use your EOS holdings.

Selling EOS

If the time has come for you to sell your EOS investment, then the top brokers and crypto exchanges make this simple to do so. When selling EOS, you have two main options – you can exchange it for a different cryptocurrency, or you can sell it and receive its value in FIAT currency. Depending on who your investment is with, you may be able to sell your EOS holdings for USD, GBP, or EUR.

Closing out your EOS position is super easy to do with top brokers such as eToro. All you have to do is navigate to where your open positions are located and close the trade. Assuming you have made a profit, your initial investment amount plus profit will be deposited into your account. You are then free to withdraw this money, purchase another cryptocurrency, use it to buy shares in various companies, or invest in many other asset types.

Where to Buy EOS UK

When buying EOS, you must do your due diligence when choosing a broker or crypto exchange. With so many options available, and so many features to compare, it can seem a daunting task to narrow down the choices to one specific trading platform.

Not to worry – in this section of the guide, we will examine two of the best stock brokers for buying EOS. We will discuss all of the information you need to be aware of, helping you make the best decision possible when choosing a trading platform.

1. eToro – Overall Best FCA-Regulated Platform to Buy EOS

Best UK Passive funds at eToro

Our favoured trading platform when it comes to buying EOS is eToro. eToro has been around for many years and currently boasts over 20 million users worldwide. One of the reasons eToro is so popular is their trustworthy and reliable reputation, as they are regulated in the UK by both the FCA and the FSCS.

etoro buy EOS

The great thing about using eToro is that they allow you to buy EOS in a low-cost manner. eToro does not charge any commissions or transaction fees when purchasing cryptocurrency, enabling them to offer an attractive fee structure to their users. This lack of commissions set eToro apart from many other brokers and crypto exchanges, as some charge up to 3% per transaction. Instead of commissions, eToro relies on a spread-based structure in their crypto offering – this spread is the difference between the bid and ask price, is competitive with other trading platforms.

If you’re looking to buy EOS along with some other cryptos, then it might be worth checking out eToro’s innovative CopyPortfolio feature. These CopyPortfolios are professionally managed investment funds that eToro users can invest in without paying any management fees whatsoever. For investors who are interested in digital currencies, eToro offers a weighted ‘CryptoPortfolio‘ comprised of 14 different coins, including EOS. This provides broad exposure to the crypto market in a low-cost manner.

etoro cryptoportfolio

Finally, eToro’s sign-up process is straightforward and quick. The whole process can be completed online and usually takes less than ten minutes. When you fund your account, you can do so through various methods such as credit card, debit card, bank transfer, or e-wallet. Once your fee-free deposit has been completed, you are then able to purchase EOS directly through eToro’s online platform.

Pros:

  • Trade 16 of the most popular cryptos, including EOS.
  • 100% commission-free trading
  • Competitive spread structure
  • Revolutionary CopyPortfolio feature
  • Regulated by the FCA

Cons

  • Some inactivity and withdrawal fees

67% of retail investor accounts lose money when trading CFDs with this provider.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

2. Binance – Low-Cost Trading Platform for Buying EOS

Binance Logo

If you’re looking for an alternative to eToro, then we’d also recommend checking out Binance. Binance is currently the world’s largest crypto exchange and has been in operation since 2017. One of the great perks about Binance is that their platform allows you to buy EOS with various other currencies, such as Bitcoin and Ethereum.

buy EOS binance

This allows much greater flexibility when it comes to funding your account, as you will not have to utilise FIAT currency – meaning you can simply deposit into your Binance account from your crypto wallet. If you prefer to use FIAT currency such as USD, GBP, or EUR, Binance allows you to fund your account using your credit/debit card through their payment partner, Simplex. However, it’s wise to be aware that Binance will charge a fee of 1.8% if you fund your account using this method.

In addition to this, when you place a trade with Binance, they will only charge a 0.1% transaction fee – which makes them one of the most inexpensive crypto brokers on the market. To provide an example of this, if you invested £1000 in EOS, you’d only pay £1 in fees. You can reduce these fees even further if you wish by using Binance’s digital currency, Binance Coin.

binance academy

Finally, Binance even offers an incredible range of educational material through their ‘Binance Academy’ feature. This feature provides guides, tutorials, and even quizzes on various topics related to crypto, making it a valuable tool for new traders. What’s more, they even offer an ‘Ask Academy’ service, whereby users can post specific questions about crypto-based topics, and other users will answer these questions on the Binance platform.

Pros:

  • Advanced, customisable trading platform
  • Extensive selection of educational materials through Binance Academy
  • Transaction fees of only 0.1% when crypto trading
  • FIAT-to-Crypto trading offered via credit/debit card and bank transfer
  • Regulated in the UK by the FCA

Cons

  • Does not provide daily market analysis

Your capital is at risk.

Best Way to Buy EOS UK – eToro Tutorial

Now that you have all the information you need regarding EOS, it’s time to discuss the process of actually purchasing it. The five quick steps below will show you how to buy EOS with FCA-regulated broker eToro – all in under ten minutes.

Step 1: Sign Up for an eToro Account

To create your eToro account, head over to their website and click the ‘Join Now’ button in the top right of the screen. On the following page, simply enter your email address and choose a username and password. If you’d like, you can even do this step through their mobile app.

etoro sign up

67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Verify your ID and Address

As the Financial Conduct Authority regulates eToro, they require all new users to verify themselves before trading. Luckily, this can all be completed online and is very straightforward to do. Simply upload proof of ID (a copy of your driver’s license or passport) and proof of address (a copy of a bank statement or utility bill). eToro will then verify the documents, which usually only takes a few minutes.

Step 3: Fund your eToro Account

You can fund your eToro account by using various methods, such as credit/debit card, bank transfer, or e-Wallet. Regardless of which method you choose, eToro will not charge any deposit fees. If you want to invest as quickly as possible though, we’d recommend using a credit/debit card as the funds will arrive in your account instantly.

Step 4: Search for EOS

Type in ‘EOS’ into the search bar at the top of the screen and click on the first option in the drop-down box (pictured below). On the next page, click the ‘Trade’ button in the top right corner.

etoro buy EOS

67% of retail investor accounts lose money when trading CFDs with this provider.

Step 5: Buy EOS

All that’s left to do now is enter your desired investment amount (minimum of $25), double-check everything is correct, and click ‘Open Trade’.

buy EOS uk etoro

Congratulations! You are now officially an investor in EOS – all without paying a penny in transaction fees!

eToro – Best Crypto Exchange to Buy EOS UK

Throughout this guide, we have touched on all of the critical aspects you need to be aware of when buying EOS in the UK. As more and more companies begin using EOS technology in their everyday operations, it’s not out of the question that we could see EOS begin to rise and challenge many of the major cryptocurrencies in the market.

If you’ve made up your mind and are looking to buy EOS today, we’d recommend using eToro to place your trade. eToro offers commission-free investing on many major cryptocurrencies (including EOS), allowing you to invest from as little as $25. In addition to this, eToro ensures that the account opening process is quick and easy – meaning you can be set up and ready to go in under ten minutes!

67% of retail investor accounts lose money when trading CFDs with this provider.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

FAQs

[sc_fs_multi_faq headline-0=”h3″ question-0=”Where can I buy EOS?” answer-0=”You can buy EOS instantly at FCA-regulated broker eToro. The sign-up process takes less than ten minutes, and you can invest from as little as $25. Alternatively, you can also buy EOS through many of the top crypto exchanges.” image-0=”” headline-1=”h3″ question-1=”Is EOS a good investment in 2021?” answer-1=”EOS is a cryptocurrency with fantastic potential; however, this may not be realised in the short term. If you are happy to invest and hold EOS over the longer term, it’s definitely worth considering as an investment in 2021.” image-1=”” headline-2=”h3″ question-2=”What are the risks of buying EOS?” answer-2=”The main risk is that the price declines after you have purchased EOS. If this happens, you will suffer a loss on your investment. The other risk to be aware of is the risk of unauthorised access to your EOS holdings; however, you can combat this by utilising a crypto wallet.” image-2=”” headline-3=”h3″ question-3=”Is EOS better than Ethereum?” answer-3=”EOS allows for much faster payments than Ethereum at present; ETH can only handle 15 transactions per second, whilst EOS developers claim their system can handle 10,000 per second. However, Ethereum is already established in the market, so it is a difficult task to dislodge them from this position.” image-3=”” headline-4=”h3″ question-4=”Is it safe to buy EOS?” answer-4=”The best FCA-regulated brokers (such as eToro) ensure that buying EOS is incredibly safe thanks to their strict protocols and advanced security features. To buy EOS safely, make sure you use a reliable broker/exchange and avoid unregulated exchanges.” image-4=”” count=”5″ html=”true” css_class=””]
Connor Brooke author check sign Pro Investor

Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has extensive knowledge in the investing space, and has also written two theses on mutual funds and the UK market.

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