What is EOS cryptocurrency?
The goal of EOS is to transform the decentralized application industry, as well as to lower the entry bar for developers and anyone looking for blockchain-based solutions. So what is EOS? This operating system will provide services such as user authentication, cloud hosting and server hosting.
The EOS Network is a turnkey platform for decentralized applications that allows developers to use a complete authentication system.
User accounts are assigned rights with different levels of access, as well as accounts securely, locally store their own personal data. Recent updates to EOS have added the ability to use one common database for multiple accounts, as well as the ability to store user data on a local machine off-chain.EOS also provided for such an opportunity as account recovery if it was stolen or compromised. According to Larimer's plan, it will rather resemble an operating system, on the basis of which developers can create decentralized applications. The system's features allow working with databases, using authentication procedures, creating accounts. Despite the small age of the cryptocurrency, the project can already boast of being one of the leaders in its niche in terms of the number of daily transactions.
Investing in EOS
Cryptocurrency is a means of payment and at the same time money on the Internet. Crypto has become popular. People claim that there is a future behind it. Many have become wealthy by mining digital money. However, some do not know about this way of earning money.
Below we will consider the most common ways to make money in the cryptocurrency world.
Mining is the process of mining cryptocurrency using mathematical calculations.
A person is not able to effectively cope with this task, therefore, the computing power of a computer is used.
It all looks simple. The miner creates a powerful device for mining, launches the program, and starts receiving data blocks containing records. The device processes them, achieving the correct solution - thereby strengthening the blockchain chain. For the result, the user receives a reward in the form of coins. It turns out that the miner is a link without which many cryptocurrencies simply would not exist. As long as there are miners, transactions are carried out and new coins are mined.
There are several types of mining:
- Individual or what is mining - a farm? The essence of the method is to use your own equipment. For the efficient mining of well-known cryptocoins, a large amount of equipment is required, so farms are created. A farm is a home-made device consisting of powerful elements of computer origin, combined with each other to obtain the highest possible performance. The performance of the device in this case will be aimed at solving complex mathematical problems and forming a blockchain chain.
- Cloud mining. To get started, you don't need your own equipment, you just need to find a decent service on the Internet that sells power - you will need to rent it and use it for mining. You take the received profit for yourself. The only waste here is to pay for the rent of facilities.
- Pool mining - Pools are a community of miners who combine their power to achieve one goal. Found blocks are recorded in a single database. The reward is then distributed among users. Pools use different profit sharing models.
- Cranes. This method does not require investment and powerful equipment. To earn money, you need to perform a simple action (watch an advertisement).
In order to start mining, you need to do the following:
- Get equipment.
- Select crypt.
- Create wallet.
- Choose a mining method.
- Install and configure the miner.
EOS cryptocurrency mining is not possible, the only way to get it is to buy.
Staking is a tool for passive earnings on the storage of cryptocurrencies. This process uses the Proof of Stake (PoS) algorithm - proof of stake. PoS is one of the methods of protecting the blockchain from interference and inaccuracy of the placed data. When users choose a blockchain with such an algorithm and store coins in their wallets, they are rewarded. This stimulates the participants of the system to get involved in the staking process and thereby ensure the operability of the blockchain.
When using the PoS algorithm, the following principle applies: the larger the amount the user stores, the more blocks he will be able to generate.
Here's how to get started:
- You need to choose the cryptocurrency you are interested in and make sure that the project supports staking.
- Next, you need to find a platform or wallet that supports staking of the cryptocurrency of interest.
- The next step is buying cryptocurrency. After purchasing a coin, it must be placed on a platform or wallet that supports staking.
Cryptocurrency staking is one of the options for passive earnings on digital assets. Anyone can use it.
Cryptocurrency trading is a direction of earnings, which implies the game of a market participant on the difference in market value. In other words, cryptocurrency trading is trading operations for buying and selling assets on special exchange platforms. Virtual money acts as trading tools, with a trader as the main participant in the process. He uses his personal funds to buy / sell virtual coins in anticipation of further price changes and a transaction to his advantage. The goal is to guess the direction of the market and capitalize on the difference in rates.
Working on a cryptocurrency exchange requires a participant to have basic knowledge of technical and fundamental analysis, control the situation, and the ability to quickly respond to changes in trading.
Without skills and experience, the risk of losing your deposit is extremely high.
At the first step, the trader is determined with the method of making money on the exchange. There are three ways here:
- Long term investment. Most of the market participants invest in cryptocurrency for a long period, for example, for six months or more. The trader's goal is unchanged - to get the maximum income on the difference in the exchange price.
- Medium-term trades. In such circumstances, the order is left for several days (up to 1-2 weeks). This is the most difficult type of earnings, because it is important to accurately predict price changes in a short time interval.
- Short-term trading (scalping). The bottom line is to trade cryptocurrency within one day. The order is not carried over to the next day, but is closed during the session. Most often scalpers work for minimal time intervals - up to 30-60 minutes (sometimes 1-2 minutes). They place dozens of orders, which allows you to count on big profits.
Cryptocurrency trading excites the minds of millions of people. It is not surprising, because the Internet often offers news about new industry leaders, about the fall or rise in the rate of digital money, about new achievements in this area. And the examples of successful traders leave their mark: who doesn't want to make a fortune in such a seemingly easy way?
Only professionals know how many subtleties there are in the work of a trader, while beginners are recommended to open a demo account as an option. The demo account is a simulation of real trading. The whole process takes place in a real market, only test versions of coins that have no financial value are used for the operation. The virtual game currency is kept in a separate account, it cannot be replenished or withdrawn. This is a great training ground for newbie traders.
Trade online via CFD contracts.
CFD is an abbreviation of the "contracts for differences". With the help of CFDs, you can earn on "predictions" of the behavior of the cryptocurrency rate. To do this, the investor needs to place a bet on which direction the asset price will go. If his prediction comes true, he will receive, as a prize, the very difference in price.
The pluses of CFDs on cryptocurrency include the following points:
- You can make money quickly. The digital asset market is extremely volatile. This feature opens up a lot of opportunities for investors to make money on the movement of the cryptocurrency rate.
- Small investment. CFDs allow you to make money on cryptocurrencies without buying them.
- You can earn money on CFDs around the clock.
- You can work without restrictions. Many platforms do not have a limit on CFD transactions for cryptocurrencies.
- The investor can choose the cryptocurrency in order to enter into a contract for the price difference.
- You can work with CFDs with leverage. The tool allows you to significantly increase income if the forecast comes true.
The EOS coin is at the very beginning of its journey. It differs from other cryptocurrencies in both technical characteristics and the scale of its goals. Here is just one of the very indicative facts about the currency: during the ICO, it raised more than $ 4 billion! EOS cryptocurrency is a unique project with a strong idea in the daaps industry and an experienced team. The size and activity of the community speaks of a high level of hype and great support among the community. Operations with the purchase and sale of EOS are available on many well-known exchanges, that is, you can buy a virtual coin in many countries, including the Philippines.
After analyzing all the information, we can conclude that the main growth of the coin is still ahead. If we compare EOS to Ethereum, and assume that the coin will be even more successful. The EOS cryptocurrency is one of the best tools for long-term investments. Every reader is probably worried about the prospects for the growth of the price of the EOS cryptocurrency. The outlook from leading experts in the crypto industry is quite positive.
The coin is expected to grow steadily.
Even according to the most conservative estimates, if you buy EOS at the current exchange rate, then in 5 years the coin will give almost 1000% profit without taking into account the fact that the cryptocurrency market will enter a new stage of development, thanks to institutional capital.