Getting into a cryptocurrency can seem like a big leap. Not only do you place more financial responsibility in a digital system, you’re trying to learn how it all works. Likely before you put any investments in the system, you want to know about it. This process takes time. You have to research the community, the developers, and how the currency works in the virtual marketplace. Additionally, you have to take a look into how your country handles cryptocurrencies. That can get a little tricky as not every country follows the same regulations.
Purchasing EOS From Poland
If you live in Poland, you’re in luck. The Polish government have a favorable opinion of cryptocurrencies. So you can get started immediately.
A popular alternative coin gaining traction is EOS. The developers behind this cryptocurrency created it to work similarly to Ethereum (ETH). Though, they upgraded the user interface of the program to make it easier for customers to use it. Additionally, the team behind EOS plan to eliminate transaction fees on their platform and handle millions of transactions per second. This should appeal to any cryptocurrency investor. Many virtual marketplaces have layers of transaction fees their communities pay and transactions on the cryptocurrency platform take time.
The first thing you need to do is figure out what wallet you want to use. You have to choose a wallet first so you know where to send your EOS tokens once you acquire them. You don’t want to leave them on the cryptocurrency exchange for too long.
Here’s a small list of recommended EOS wallets you can choose from:
- Ledger Nano S
With MyEtherWallet, you download the application from your desired web browser and store the wallet on your computer. This wallet’s user interface can feel a little confusing if you’re new to cryptocurrency. Take some time to mess around with the wallet prior to purchasing any EOS tokens. Also, this wallet does not connect to any of the servers connected to EOS. This means only you will have access to the private keys set for your wallet. No outside source or entity should have this information. You should install reliable security on your computer with this wallet on your hard drive.
The Exodus wallet is a software wallet and is connected to the internet. This wallet works great for those looking to have a clean, simple interface to use when they want to access their cryptocurrency. You won’t find any technical jargon and a lot of tasks come with a step-by-step process in the application. Ideal for anyone new to cryptocurrency. You can swap out any tokens you already have on the wallet for others without having to go to an exchange. Because the wallet connects to the internet it makes the application slightly more risky to use. As a result, make sure you’re careful about your computer’s security.
The Ledger Nano S is a hardware wallet. You can store your funds on Ledger’s wallet or with another, such as the ones listed above. The hardware device was designed to protect the information you use to access your wallet. You plug the device into your computer and download this information to the Ledger. This information stays on the device and you use it to access your funds. This likely keeps access to your wallet the most secure as a potential hacker must have access to your device. However, this means you have to keep track of a physical object and have it in a safe place. Also, the device costs 79.99 €. Therefore you should purchase this device if you plan to stick to cryptocurrency for an extended period of time.
If you choose a different wallet make sure it is compatible with ERC20 tokens as EOS falls under this category. Once you’ve chosen your wallet you’re ready to start making progress towards investing in EOS tokens!
Create Exchange Account
First of all you’re going to have to purchase Bitcoin (BTC) or ETH. As a result you’ll be able to exchange those for EOS, as you cannot purchase EOS using a fiat currency. To purchase either of these, you’ll need to go to an exchange website. Here’s a list of recommended websites for you to use:
Any of the choices listed above should work for you. When you arrive to your chosen website you will need to create an account with them. Most exchanges have a two-step authentication to prove you can use the account. So be prepared for that. When you’ve connected to the account you will need to verify the email address linked to your profile. The website should send it shortly after you created your account. You must verify your account prior to uploading any funds to the website.
Upload PLN to Exchange for BTC or ETH
When you’ve finished verifying your account you’re ready to upload your funds to your account. You can do this by connecting your bank account to the exchange or you can use a debit or credit card.
You should do some research on the price of EOS before you upload any funds. This means you need to figure out how many EOS tokens you want to purchase. When you have this number you can figure out how many BTC or ETH you will need. The amount of BTC or ETH you’ll need varies based on the market. Take a little time to observe the EOS, BTC, and ETH markets to find the best time for you to place your funds forward. Therefore you can make the most out of the funds you’re investing.
Create a Cryptocurrency Account and Upload Funds
At this point you should have ETC or BTC sitting on your first account. Now, you need to take a trip to a cryptocurrency exchange to use those newly purchased funds. Here’s a list of recommended websites for you to choose from:
You will need to create an account on one of these websites, too. The process to creating one should feel the same as the first website. You should use the same email address as you used on the other account to make it easier to keep track of everything. Once you’ve created that account, locate its public key and return to the first exchange website. Go to the transfer panel and send your cryptocurrency to your new account using the public key.
Exchange BTC or ETH for EOS
You’ve reached the final step!
Go to the front page of the cryptocurrency website and double-check you’re in the correct marketplace. It should say ETC or BTC. Click on the marketplace of the cryptocurrency you’re attempting to use. When you’ve done that, locate EOS and click on it. You’ll get taken to an exclusive page the shows in-depth details about the EOS market. Under the ‘buy’ EOS trade page, choose the amount of cryptocurrency you want to use to purchase EOS. This transaction will take a few minutes.
You’re now the proud owner of EOS!
The final thing you need to do is transfer those funds to your EOS wallet. As of result, these funds should remain securely in your possession and away from an exchange website.