What is EOS (EOS)?
EOS is a fee-free cryptocurrency. Instead of transaction fees, the protocol rewards the entities that run the network periodically with new EOS to offset inflation. EOS was designed to support large-scale applications as it can support thousands of dapps without experiencing any negative network effects like high fees or slow confirmation times, thanks to innovations like parallel processing. You can buy and sell EOS for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade EOS for BTC the same way you trade CAD for USD. You can also trade EOS to CAD based on the EOS price. To learn how to buy EOS, scroll down to see how to buy EOS.
How to buy EOS (EOS)?
Here's how to buy EOS on Coinsquare
To buy EOS, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying EOS. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select EOS from the list on the trade section
Coinsquare lets you trade EOS without leaving the app. You can also check the EOS price and convert EOS to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the EOS price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy EOS (EOS)
Congratulations! You’re now the proud owner of EOS. You can either HODL or use it to exchange EOS to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my EOS (EOS)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add EOS (EOS) to your portfolio?
Create your account, fund it with spare change and get a little bit of EOS.
