EOS is an outstanding cryptocurrency and was released for trading in 2017. The cryptocurrency has a supply limit of 1 billion but you cannot mine it like many other cryptocurrencies. Its market cap, on the other hand, is about $4.6 billion.
The cryptocurrency is a creation of a company in the Cayman Islands, Block. The leaders of the company are experts in cryptocurrencies. Larimer is the CTO of the company and took part in the creation of the Bitshares blockchain.
EOS Day Trading Brokers
The EOS operating system includes EOS coins and EOS.IO, the latter being a blockchain architecture not different from the well-known operating systems. The operating system acts as a foundation for decentralized apps and enables horizontal and vertical scaling of the apps. Once you own EOS, you are eligible for bandwidth and storage on the blockchain.
Is EOS tradable?
Yes, you can venture into EOS day trading just like any other cryptocurrency out there today. The value of EOS is rising in the cryptocurrency market and it also fluctuates like any other currency out there today. So, it creates an opportunity for CFD traders to make money from day trading EOS.
Before you can trade EOS, you will need to first purchase the cryptocurrency from an exchange. Some of the exchanges where you can buy EOS are:
You may also not have to buy the cryptocurrency before you can make money from it. All you need to do is to trade EOS CFDs. It will allow you to speculate on the price of the cryptocurrency without having to own it.
Facts about EOS
EOS has a decentralized operating system. As a developer, you can easily run decentralized apps on the operating system provided you own the coins. You will easily access blockchain resources for EOS once you own the EOS coins.
EOS is highly scalable. This is made possible by its proof-of-stake consensus. It can process over 50,000 transactions per second. Ethereum, on the other hand, can only process about 20 transactions per second.
On its part, bitcoin is only capable of just 3 to 4 transactions per second. This places ESO above them all. What is more, the scalability of EOS is far ahead of those of PayPal and Visa. PayPal records 1,667 transactions per second, while Visa records only 193 transactions per second.
Since its proof-of-work consensus is higher, it means that the cryptocurrency will work just perfectly for a faster transaction. It, therefore, has a better chance of future growth than many other cryptocurrencies out there. Consequently, EOS day trading in Canada will be a very good idea.
EOS fully supports inter-blockchain communication. It is equally able to separate execution from authentication. There is also complete compatibility between EOS tokens and ERC-20 on the Ethereum blockchain.
One other outstanding feature of EOS is that it reduces transaction fees. It equally supports easy and quick decentralized applications deployment. As of today, EOS supports 500 ms block intervals.
How to trade EOS
EOS day trading is hassle-free. The best way to trade EOS is via CFD trading. This enables the trader or investor to make money from EOS day trading irrespective of the direction of the market.
You can easily trade EOS on any broker just like any other cryptocurrency. However, make sure that the broker is reliable. You can purchase EOS from exchanges and transfer it to your trading platform with the broker.
EOS day trading can help you to make money but it equally comes with its own measure of risks. So, you must trade carefully. You should not trade EOS with money you cannot afford to lose.