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EOS.IO, a Hong Kong-based, blockchain-powered project that promises a decentralised application (DApp) platform, has been billed as the “Ethereum killer”.
Can it really usurp the second-largest cryptocurrency in terms of market capitalisation? Many in the crypto and blockchain community think EOS.IO, even at this early stage, could overtake NEO, Ripple Labs, and – eventually – topple Ethereum.
It’s developers, at pioneering startup block.one, managed to pique the interest of investors by publishing a white paper on EOS.IO in 2017. An eye-catching $2 billion was raised by block.one in an Initial Coin Offering.
EOS, the project’s cryptocurrency token, was made available in July 2017, six months ahead of the platform’s grand opening. Thanks to the anticipation and no little hype, EOS soon graduated as one of the top-10 cryptos by market cap.
The EOS.IO platform, which uses C++, has grand ambitions to become the benchmark for blockchain development and smart contracts. Some supporters believe it will trigger mass blockchain adoption. Should that happen, the value of EOS will go through the roof.
Having introducing the token half a year ahead of the platform opening, block.one attracted a significant community of EOS.IO investors. It was a smart move, and that initial financial oomph is one of the many reasons it continues to be backed. That Dan Larimer, who has an impressive record with blockchain projects, is EOS.IO’s lead architect is a big confidence booster to those in the know. Zero user fees is another reason why a cluster of experts think it could have the edge on its competitors.
EOS as a crypto is also a bit different to its rivals, too. Therefore, it represents an interesting asset to diversify any trading portfolio. Those who understand the potential of blockchain – a nascent technology that could completely transform the healthcare and financial industries, among many others – as well as forward-thinking investors, happy to hold, are backing EOS.
The crypto reached a high of $20.78 in late April, 2018, according to global trading and investment platform eToro. A steady rise for EOS is expected, by various industry analysts, in the coming years.
In early 2018 Smartereum.com wrote the EOS “five-year forecast is around $143”, while Coin Fan reckons it will reach $66 by 2021. Wallet Investor predicts it will move to around $95 by 2023.
EOS is one of a number of top cryptos available to trade and/or buy outright on global trading and investment platform eToro. Their motto is “Cryptos Needn’t Be Cryptic” and the team has produced a useful short education video to help investors seeking more information about EOS.
Pros and cons of trading on eToro
•Straightforward, user-friendly, trustworthy and experienced platform
•Instant execution of trades, thereby locking in a price
•Ability to use CopyTrader and other innovative tools
•Huge cryptocurrency community that shares knowledge and helps each other
•Only nine cryptocurrencies offered by the platform, currently
•Users are unable to withdraw the cryptocurrencies directly
•Users’ cryptocurrencies are held by eToro
Trading EOS is straightforward on eToro
Step 1: Go to www.etoro.com and press ‘Join Now’ to register
Step 2: Once you have signed up, search for ‘EOS’
Step 3: Click on ‘EOS’ and press ‘Trade’
Step 4: Choose either the amount or units to trade (by toggling the icon in the right-hand side) and press ‘Deposit Now’ to open a trade
Want to learn more about trading EOS and other cryptos? Visit www.eToro.com now, and join the online global community.
Buying cryptocurrencies is not appropriate for everybody. Cryptocurrencies are not regulated. They are not backed by governments or central banks. Cryptocurrencies are backed by technology and trust. You will not benefit from the protections available to clients receiving regulated investment services, such as access to the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (FOS) for dispute resolution. You are at risk of losing all of your invested capital.