What is EOS?
EOS is a distributed, blockchain-based platform for decentralized apps (dApps), similar to Ethereum in
function. The
goal of EOS is to facilitate blockchain development through an operating-system-like set of services and
functions.
The EOS token is transferible and can be used to pay for computing resources.
How to sell EOS?
You can sell EOS on cryptocurrency marketplaces like exchanges and broker services. Simply open an account
with one of
them, verify your identity (e.g. by uploading identity documents like your passport) and make a fiat deposit
to make
your first purchase. In some cases, you may also need to setup a EOS wallet to store your EOS in case the
chosen
marketplace does not offer one natively on their platform. The whole process including account creation,
identity
verification and payment processes can take from few minutes to several weeks (depending on verification and
payment
procedure).
Where to sell EOS?
There are two major types of cryptocurrency marketplaces.
Exchanges resemble traditional stock exchanges (such as the New York Stock Exchange or the
NASDAQ Stock
Market). On
cryptocurrency exchanges, individuals can trade bitcoins directly among each other, while the exchange
determines
the price of EOS and finds a sufficient number of sellers and sellers to fill all orders (matchmaking
process). As a
result, there is no personal contact between traders. The trading features offered by exchanges are tailored
to
professional traders with higher frequencies and volumes require. This is why their user interfaces may be
somewhat
confusing for beginners.
Brokers act as dealers as they sell EOS directly out of their own asset stock.
Cryptocurrency brokers
therefore act
as market makers and charge a markup or markdown that is more expensive than trading fees charged by
exchanges.
Still, broker services usually offer a lot of different payment methods and are usually very easy-to-use and
therefore beginner-friendly.
What to consider when selling EOS
After learning about different types of marketplaces you might wonder: “What’s the best marketplace for me?”
Well,
you’ve come to the right place: Cryptoradar lists popular places to sell EOS from all around the globe.
Simply use
our filters to find a marketplace that meets your requirements.
Verification: Most marketplaces require you to verify your identity (e.g. by uploading a
copy of your
passport) and
proof your permanent residence (e.g. by uploading a recent utility bill) before you will be allowed to sell
cryptocurrency. This process can take between few minutes to several weeks.
Wallet Service: An EOS wallet is a piece of software of hardware where you can store your
bitcoins. If you
are new to
cryptocurrencies, look for marketplaces that already provide a wallet service. We would like to point out
that
storing bitcoins in a wallet that you are managing yourself is the safer option but it requires some
learning
effort. We’ve collected some basic info about different types of wallets here.
Prices & Fees: The price of EOS is determined by supply and demand, i.e. it is based on the
number of people
willing
to buy and sell. While cryptocurrency exchanges determine the prices on their platform, broker services
align their
prices on the current prices of the major exchanges, but usually charge a markup and fees for their
services. In
addition to trading fees, there may be fees to deposit and withdraw fiat currencies or EOS.
Payment method: Before you can sell EOS you need to deposit fiat money at a marketplace. Most
exchanges only
offer
wire transfer, while broker services often offer a larger number of more convenient payment methods such as
credit
cards or Skrill for an additional payment fee.
Security: When investing money and even more so when investing into cryptocurrencies,
security plays a major
role.
Our filters help you find marketplaces that you can trust, based on offered security features. Please bear
in mind,
however, that you should not keep significant amounts of fiat and cryptocurrencies on marketplaces, as they
may be
affected by cyber attacks.
When to sell EOS?
Is now a good time to sell EOS? We don’t know. However, if you are looking at a specific price at which you
would like
to sell EOS, we can help you to not miss a favourable opportunity: Sign up for a Cryptoradar account and set
up a
price alert to get notified when EOS trades below or above your target price.