What is Eos?
The emergence of new virtual coins is not that uncommon. They appear at regular intervals. Another thing is that now it is difficult for beginners to become leaders in a market where there is such competition. After all, in fact, anyone can issue a coin; all that remains is to figure out what it will be. The essence of this project is to ensure the versatile scaling of decentralized services. Among the features:
- Open access to accounts;
- Asynchronous communication means;
- A large list of tools for authentication;
- Distribution of processes over several cores or system nodes.
The scope of the new coin is astounding, as is the system that makes it work. But despite the innovativeness of the project and good prospects for its development, in principle, EOS can be defined as an operating system.
But it is not quite ordinary, since using it, you can conduct an ICO for several projects at once. In theory, everything is beautiful and thoughtful, but whether it will work in full force, and whether it will be in demand in real life largely depends on the interest of the developers. This is important because today they own more than 15% of all coins, so their influence is really serious. The main feature of EOS is that it is based on Ethereum technology.In addition, if we consider not only the characteristics of the eos crypt, but also the site, then it was created in order to ensure the simultaneous execution of many tasks, which no system built on the blockchain was capable of before. They trade on exchanges, which is not least due to the fact that the developers have a good reputation, and there are many projects that are already quite popular, which means that the EOS coin has good prospects. But is this idea so brilliant in practice, time will tell.
Investing in Eos
Despite the fact that the currency is new and not even fully formed yet, many are interested in investing in it. Nevertheless, Eos is just beginning to develop, so not every exchanger or exchange is ready to take the risk and introduce a novelty. But still, e-currency exchanges are more supportive of Eos, and it is there that coins are most profitable to buy.
Crypto exchanges and crypto wallets
Today, the price of EOS cryptocurrency makes it attractive for investment. By the way, the minimum contribution amount here is 0.01 ETH. Now let's choose where to buy EOS cryptocurrency. And the choice of exchanges occurs according to the following scenario:
- Commissions (each time the user buys and / or sells digital currency, the user pays a commission to the exchange; it may differ on different platforms, but usually in the range of 0.1-0.25%);
- Reputation (before you deposit funds on an unfamiliar exchange, it is better to read reviews about it on the forums;
- Liquidity (this indicator largely depends on the daily trading volume; if the platform is liquid, buyers and sellers will appear in the order book every second, and the Japanese candlestick chart will be smooth, without frequent “spikes”);
- Payment options (some exchanges support many payment methods, including bank transfers, while others make it possible to deposit and withdraw funds only in cryptocurrency);
- Convenience of the user interface;
- Availability of convenient statistics on transactions;
- Availability of various tools for technical and graphical analysis.
To work on a cryptocurrency exchange, you need to create a crypto wallet.
There are several types of wallets for digital currency. The most important thing is to choose a reliable and secure one. Alternatively, you can use the installation of special software on your computer, phone, or create an online crypto wallet on a web page.
It is important to understand that cryptocurrency is stored at addresses on the blockchain, and wallets are needed for the convenience of managing private keys and gaining access to addresses.
All crypto wallets, regardless of what assets they are intended for, are divided into two types - hot and cold. In simple words, hot is a wallet connected to the Internet, and cold is a wallet, which, accordingly, is not connected to any network.
Despite the one purpose - storage of cryptocurrency - the purpose of hot and cold wallets is different. For a better understanding of this difference, the following analogy can be given.
A large amount of money, for example, savings for a "rainy day", you keep in a safe (safe deposit box). Going to the store, you do not carry all your savings with you, but use a wallet, which contains a much smaller amount. A safe or a safe deposit box is a cold wallet, and your everyday wallet is a hot one.
Online platforms and CFD agreement
Cryptocurrency is a digital asset intended to be used as a medium of exchange. Cryptocurrencies operate on the blockchain, encryption is used to protect transactions, and emission control and confirmation of transfers are also carried out in the blockchain.
Cryptocurrency CFD is a contract under which the buyer and the seller, at the time of execution of the transaction, compensate each other for the difference between the prices fixed at the points of opening / closing a position.
Cryptocurrency CFDs also have a number of advantages:
- Various strategies. You can make money on short-term movements in the markets, working within the day, or you can enter into longer trades. Cryptocurrency CFDs provide ample opportunities for both speculation and hedging, which means you can implement strategies of any scale: both with small amounts and with significant ones.
- Minimum entry. To trade CFDs on cryptocurrencies, you need a minimum of funds - significantly less if you work with cryptocurrency directly. About $ 10 is enough to make the first deal.
- Independence from the direction of market movement. With crypto CFDs, you can both long and short, i.e. make a profit regardless of whether the market goes up or down.
- Shoulder. With leverage, using X of your own funds, you get access to trading capital for making transactions many times more.
There are various platforms that offer cryptocurrency CFDs. For successful CFD trading, elements that are not always on the surface are important: how the liquidity issue is implemented, how the order execution logic is implemented, what is the configuration of the product itself. Professionals in the market do not just take the instrument out of the box, but customize it the way a trader needs. Such professionals are those who themselves have been on the market for a long time, they themselves use such products, understand the needs of the client and are able to respond quickly and flexibly to them. The CFD for cryptocurrency offers the opportunity to trade in the cryptocurrency market without the need to own any coins. Cryptocurrency trading is a relatively new type of financial activity, but it is no different from most other forms of trading. Opening a position allows you to generate income on future movements in digital currency by investing a fairly small amount of capital and without paying contributions to third parties.
The platform also offers for beginners to open a demo account. Demo accounts have become widespread as a way for traders to test the capabilities of the platform or test their personal abilities. Here, it is possible to practice without risks and any investments.
A demo account is a kind of simulation of real trading. It works in real market conditions, but using virtual coins. This account has nothing to do with the usual, they are separated; it cannot be replenished or withdrawn.
In the language of blockchain engineers, mining is the support of the functionality of a cryptographic network by creating blocks in the Blockchain using computer technology. A miner who finds a digital signature is paid a certain amount of digital coins. Cryptocurrency mining guarantees the integrity of the blockchain ecosystem, miners control the movement of assets, protecting the network from double-spending:
- Cloud mining - you can do it in the cloud. You rent a certain amount of computing power (hashrate) on the Internet in a remote data center and receive a reward in cryptocurrency. Some services lease not only hash rates, but also physical units of equipment (ASICs) with subsequent redemption or transfer of ownership after the expiration of the rent.
- GPU mining is a fairly popular and cost-effective way to earn cryptocurrency. ASIC miners are, of course, more productive, but video cards have a three-year warranty, and it is quite easy to reconfigure them to a different algorithm.
- ASIC is a compact and energy efficient device, the only purpose of which is to extract cryptocurrency using a specific algorithm.
At the moment, the technology does not imply the extraction of new coins by using computing power, that is, mining. The coin can be bought either directly through the company's website or on one of the exchanges. At this time, the EOS is still in startup mode, but as soon as the ICO is completed, the tokens will be released on numerous trading platforms.
Investing in EOS
EOS cryptocurrency is a technological solution not only to problems in the field of digital technologies, but also to everyday ones, such as calculating the final cost of purchases in a supermarket based on the work of Blockchain. First of all, it is famous for the infrastructure that is easy for novice investors to understand. Another distinctive feature is the transaction system, which, according to the project developers, is superior to Ethereum smart contracts. It is possible that this digital asset can compete with coin number two.
- Scalability: The organization has addressed this issue and is capable of up to 1 million transactions per second. This was achieved thanks to the parallel execution of smart contracts.
- Free to use the platform. Application developers do not have to pay any fees. They themselves can determine the monetization algorithm, commissions.
- High performance. Even at high loads, the network does not experience interruptions.
- The EOS blockchain eliminates chain splitting, i.e. hard fork, which is what many networks are guilty of.
The platform has its own internal token of the same name. At the moment, the asset is traded on all top cryptocurrency exchanges in different countries, including New Zealand, you can buy and invest your money. The coin is used to exchange values, it is also used to create its own tokens in DApps, and is sold on more than 130 cryptocurrency exchanges.
In conclusion, we can say that this platform is a unique project with a good idea and a strong team. The number of adherents testifies to the massive hype and strong support of the crypto community, with some developers claiming that EOS will surpass Ethereum. So far, this is far from it, but such a moment should not be ruled out. Of course, the token should be kept in your portfolio. In the long run, the coin will show good xxes.