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We feature the top brokers and exchanges that offer the option to buy EOS with a credit card or debit card. For larger sums you can also send a wire transfer. We list exchanges and services based on personal experience, and reputation. Please view the risks associated with bitcoin and cryptocurrency trading at the bottom of this page. Also access our affiliate disclaimer.
How to Buy EOS with a Credit Card
What is EOS?
EOS is an open-source blockchain network, launched by Block.one, in 2017. The project is structured to serve both small, and commercial scale operations.
What does it do?
Similar to Ethereum, EOS is a blockchain network, capable of hosting/executing decentralized applications (dApps).
This is achieved through use of EOS tokens, which act as a cryptocurrency on the EOS network; much like how Ether is used as ‘gas’ on the Ethereum network.
How does EOS work?
EOS operates through use of a delegated proof-of-stake protocol (DPOS). This governance model was chosen, with the goal of providing, not only scalability, but to mitigate centralization of the network.
Delegated proof of stake allows for those with active wallets, on the EOS network, to vote for representatives to act as ‘validators’. Validation duties surrounding network transactions are then delegated to these representatives for completion.
As development continues, it is expected that the team behind EOS will be focusing on a few key areas.
- App development
The driving theme behind the EOS project is similar to Ethereum – create a fair and transparent network, which supports both payments and dApps. The main differentiator between the two is the choice by EOS to use delegated proof-of-stake. This was done with the goal of ensuring continued decentralization.
Acceptance and Controversies?
While the potential for EOS is massive, the project has not come without its share of controversies. The top two, which continues to plague perception of EOS, are as follows.
- Centralization – One of the main draws towards most blockchain based projects is the promise of decentralization. While this was also a promise of EOS, the first 2 years of operation have seen the project become increasingly centralized. More specifically, much of this has seen a power shift to Chinese based companies, raising fears of government manipulation.
- Extended ICO -$4.1 billion – this is the amount raised by Block.one, during an ICO that was held over the course of an entire year. While some are ‘put off’ by the power that Block.one now holds over the network, there are many that simply believe this ICO was ‘over the top’. They believe here was no real reason why $4.1 billion was needed to conceptualize, develop and launch a successful network, and that this was simply a company taking advantage of anyone they could, during the ICO boom.
It would appear as though regulatory issues surrounding EOS have been settled. The SEC has made it clear that the vast majority of ICOs were conducted as unregistered securities offerings; EOS was no exception to this.
In September of 2019, EOS settled charges with the SEC surrounding their ICO. This settlement saw Block.one pay a $24 million civil penalty.
Who Made It?
EOS is the product of parent company, Block.one.
EOS & Cryptocurrency Trading Risk Disclaimer
There is a very high degree of risk involved in trading securities, and this trading risk is higher with Cryptocurrencies such as EOS due to markets being decentralized and non-regulated. There is no central bank that can take corrective measure to protect the value of Cryptocurrencies in a crisis or issue more currency. You should be aware that you may lose a significant portion of your portfolio.
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