Categories
MIsc

Buy EOS In India – Step by Step guide for Beginners

Buy EOS in India

EOS tokens in Blockchain is currently aiming to establish itself as a decentralized operating system. You can Buy EOS in India using BuyUcoin where these tokens support decentralized applications up-to industrial scale.

The following points have captured the public attention to Get EOS Tokens in their crypto wallets:

  1. They are aiming to completely remove transaction fees.
  2. They are claiming to have the ability to conduct millions of Transactions per second(TPS)

EOS claims to solve the biggest problem in Blockchain, that is scalability. For example traditional transactions like VISA has nearly 1667 transactions per second while Bitcoin manages only 7 transactions per second. In consensus across nodes EOS is the best claimed solution for this using Delegated Proof of Steak or DPOs.

What is EOS?

The EOS token is the cryptocurrency of the EOS network. A developer simply needs to hold EOS coins, instead of spending them to make themselves eligible to Get EOS token for accessing it completely.

In typical proof of steak algorithms, a block producer is chosen from a pool of stagers based on various selection algorithms. It includes amount of token streak or the amount of time the tokens have been staked in the DPOs system the block producers are chosen instead by a vote.

Anyone that holds EOS tokens can vote on who the block producer should be for each block where 21 blocks are produced in each round of voting. Twenty are made by the top 20 producers where the 21st is made random selection based on the number of votes other producers received.

This mechanism ensures that not always the same few people block producers are incentivized to act honestly as they can be voted out by the users on any given cycle. So instead of competing with other nodes, they work together to validate transactions quickly and efficiently.

History of REN

The core team behind EOS is “Block.one” which is based in the Cayman Islands. Brendon Blumer, the CEO, has been involved in blockchain since 2014. He has previously been involved in companies dealing with currency exchanges in MMORPGs and also in real estate.

Dan Larimer, is the CTO. He is the creator of delegated proof-of-state and decentralized autonomous organizations aka DAOs. He is also the man behind BitShares and Steem.

What is EOS Mining?

EOS is the 8th largest cryptocurrency as per market capitalization. EOS network is based on the Ethereum blockchain. As you know, there’s a fixed number of EOS tokens; hence, you cannot mine them. 

Block producers are also required to be active in order to keep the chain moving.Any producer that hasn’t produced a block in the last 24 hours is removed from voting consideration.

In this way instead of reaching consensus across every node on a network like Bitcoin, EOS uses a democratically voted pool of 21 validators to achieve consensus faster. This course comes at the cost of decentralization to take control of the EOS consensus mechanisms.

What is EOS halving?

EOS utilizes the Proof of Stake (POS) system to produce EOS tokens for the blockchain network. The Proof of Stake system eliminates the concept of traditional cryptocurrency mining that involves expensive hardware and dedicated computers.

EOS does not depend on mainstream mining procedures in order to further the blockchain and validate the transactions that occur on the network.

You would only need to gain control of more than 50% of the producers in this where in this case that is only 11 nodes.On the Bitcoin network you need to gain control of millions and millions of dollars worth of mining power to successfully attack the network.

DPOs is a key part of delivering the revolutionary speed and a fish see the EOS promises by explaining how it works which highly makes it unique and effective.

US has a five percent yearly inflation rate and 1% of it is used to reward its block producers.

EOS Price and Trade analysis

As of September 7, 2020 Conversion rate for EOS to INR for today is ₹204.25. It has a current circulating supply of 943 Million coins and a total volume exchanged of ₹189,533,037,307.

If you are someone who owns higher number of coins you can use the network more efficiently but also you have to have a large amount of money invested. This means that you are more exposed to any price swings affecting the token.

To use the chain to its fullest potential one has to have a higher level of purchasing power. EOS has a interesting technology and a strong team behind them as they have every opportunity to do something special.

Why to buy EOS in India?

Producers share of that 1% is based on their number of blocks produced as well as the voting reward. Other 4% is put into savings for a worker proposal fund for anyone who is interested to improve EOS infrastructure.

The difference between EOS and other DAP platforms like Ethereum is that EOS runs on an ownership model similar to an operating system where Ethereum is entitled to the entire network as long as a fee is paid.

The amount of token you own is effectively how much of the network you own. This eliminates the transaction fees as you can always use the part of the network you own to process your transactions.

EOS brings unique vision to the table because it has:

  1. Support For Millions of Users 
  2. Free Usage
  3. Easily Upgradable
  4. Low Latency
  5. Parallel Performance
  6. Sequential Performance

How to Buy EOS in India?

In India it is a wise option to choose BuyUcoin as the crypto exchanger to Get EOS Tokens.

Step 1: Signup instantly with your google account by accepting the terms and conditions.

Step 2: Enter the referral code if any and also set a new password.

Step 3: Add your bank details and also verify KYC

Step 4: In OTC desk click on Direct Buy

Step 5:Buy EOS Token using INR

Where to buy EOS in India from?

Are you in India wondering where to deposit your INR to start Investment in EOS? Buyucoin is the wisest choice as it has no exchange or transaction fee to incur as like the rest of crypto exchangers.

BuyUcoin also accepts direct UPI from virtual accounts with zero trading where  to Buy EOS in India is made easier. You can trade up to 10,000 INR value of cryptocurrency without any prior registration and KYC using BuyUcoin EZ Platform.

How to sell EOS in India?

Step 1: Go to the OTC desk

Step 2: Enter the required fields with correct format

Step 3: Enter the choice of your amount to Get EOS tokens from INR.

Step 4: Click the button Sell EOS.

Where to sell EOS in India?

BuyUcoin has recently launched a new option called EZ where there is a limited Time Offer of 0% Trading Fees for Direct Crypto Buy/Sell Options for 100+ crypto currencies including the option to get EOS Tokens.

Just one-click can get you, your desired crypto token to buy & sell increasing the interactivity where Hassle free crypto trading is also ensured. So, BuyUcoin is the best place to get EOS Tokens.

1% Deposit Bonus & Withdrawal Fees On Crypto Deposit in BuyUcoin

BuyUcoin giving 1% deposit bonus on crypto and reimbursement of crypto withdrawal fees for Indian user who have funds on banned crypto exchange. In the wake of the recent ban ...
Read More

A Decade in the Making: US SEC Approves 11 Bitcoin ETFs, Igniting Market Enthusiasm

After years of anticipation and regulatory scrutiny, the U.S. Securities and Exchange Commission (SEC) has granted approval to 11 Bitcoin ETFs applications, marking a significant milestone in the cryptocurrency and ...
Read More

Will Bitcoin Price Increase 200% When Bitcoin ETF Is Approved?

Everyone wants to know that bitcoin will Bitcoin Price Increase 200% When Bitcoin ETF Is Approved? We talk about the Bitcoin ETF, an important part in the cryptocurrency space. According ...
Read More

10 Must-Have Features on Bitcoin Staking Site

Crypto has provided many benefits for online gambling, and almost all relevant gambling sites now offer it as a payment method.  With so many gambling sites, players, especially those without ...
Read More

Christmas in the cryptocurrency world arrives early as the pre-holiday crypto market heats up

Happy Cryptomas to all of you! During the bullish state of the crypto market, margin-lending platforms and decentralised exchanges were the most often used DeFi protocols. Bitcoin is Up 167% so ...
Read More
Share with Others

One reply on “Buy EOS In India – Step by Step guide for Beginners”