Our EOS Calculator
Our EOS calculator is a useful tool for valuing the EOS tokens you hold and in indicating how many tokens you could buy for your dollars. It is a simple mathematic formula, but the EOS calculator is useful because it draws in the data needed for the calculation from the exchanges. The data is updated in real-time, meaning the calculation is the most relevant information to inform your buying decisions.
To calculate the price of EOS you would need to know the current price of EOS, as well as the current exchange rate of your fiat currency. The EOS calculator will multiply the current price of EOS with the number of tokens you would like. Equally, the calculator would take the amount of dollars and divide this with the current price, to understand how many coins you can get for your buck.
The EOS calculator is so useful because the price can go up and down relatively quickly in the world of cryptocurrency. It is possible to visit the EOS calculator many times over a set period and get a feel for the trends in movement in price – helping you to better judge your investment.
The EOS calculator does not indicate transaction costs, so it is worth keeping this mind. Most sites will not exchange directly between EOS and fiat currency and you may need to buy Bitcoin, Ethereum or Litecoin first and the convert to EOS. Therefore, researching transactions costs is going to be doubly important.
The EOS Converter
Using an EOS converter essentially means buying and selling the EOS coin. This will feel like buying stocks and bonds in the platform – but this is not really the case. There is no pay out on your purchase until you sell the currency – potentially at a higher price than you bought it. Until you convert back to fiat currency, you are essentially storing digital assets in an online wallet. This makes it important to regularly visit the EOS calculator, to ensure that the value of these assets in staying the same or increasing.
When using an EOS converter, it is likely that you are using an exchange platform. These are websites that specialise in bringing together buyers and sellers of EOS.
Using a EOS Converter
As with most altcoins, EOS cannot be bought directly with fiat currency. Therefore, you will need to buy other major digital currencies with your dollar first before converting this to EOS. This is potentially more complicated, but exchange sites are set up to easily facilitate this process. There is also a potential issue with transferring your coins to your wallet and it is worth visiting forums to learn how to use an EOS converter most effectively.
EOS is part of the Ethereum network on blockchain, therefore you will need to set up an Ethereum wallet for your coins. Soon there will be an independent EOS network, which should make the process of buying and storing much simpler. It is important up to this point that you double check that your EOS currency will be credited to you when the blockchain is created.
The rapid development of EOS makes it a valid investment. Therefore, it is worth evaluating the best exchanges to use as your EOS converter. Researching the best platform to use is crucial and should match your individual needs. Do you need anonymity? Do you need to learn from other users? Do you need a lot of data and information before making your purchase? The answer to these questions will dictate which EOS converter you work with.
However, it is also important to consider security, reliability and trust. The exchange platforms handle many billions of dollars of currency. Therefore, you need to know if they are safe from hackers and other criminal elements, if the site is likely to be able to fulfil your transaction and whether you can trust the practices of the site.
Most exchanges now store the majority of currency offline in cold storage. This takes it out of the reach of the criminal or mischievous elements in the world. The sites can store up to 95% of all digital assets offline, meaning they are not immediately available for transactions. This then impacts on the liquidity of the site and the potential reliability of the site in fulfilling the transaction. Yet, with so many coins in circulation, it is likely never to be really an issue you face.
It is also important to investigate the level of external scrutiny an exchange is happy to experience. Most US based exchanges are overseen by state-level financial regulators, therefore inspiring a degree of trust. It is well worth reading the “About Us” page of any exchange site to see what they say about practices and policies within their organisation.
If you choose an EOS converter then you are still likely to be using one of these exchanges. The EOS converter is going to be an API that connects you to the exchange site in a much easier form.
When to convert EOS
EOS is not a currency meant for speculation as such. The EOS blockchain is a software architecture. This means that the value – and therefore the price of individual coins – is likely impacted by the strength of the technology more than supply and demand of the currency. The platform has been designed to solve issues of scalability and speed from the start – therefore the technology is appealing for developers as they know they can build gradually to industrial scale apps without facing barriers.
What this technical mechanism means for the price is open to debate and assumptions. It is likely going to take some bigger organisations using the platform to bolster confidence that this is the real deal and likely to stay around. It is a good idea to keep an eye on our EOS calculator and the general news related to the EOS blockchain platform.