Written by Kenny – theEOSwriter
Artwork by – Yusaymon – PixEOS
- Sign up to an exchange & purchase EOS
- Open an EOS account.
- Send EOS from exchange to your EOS account.
- Set up Scatter Desktop
- Start using dApp’s, Vote for BP’s and Referendum.
Step 1 – Sign up to an exchange and purchase EOS
If you live in Australia, Coinspot is a good option. Huobi is good for Asia and Poloniex for America & Europe. Links below…
KYC — Know Your Customer
Most exchanges will require KYC identification. This usually involves taking photos and or scanning identification documents and forwarding them to the exchange. It is a little time consuming and frustrating, but nothing worthwhile ever came easy.
2FA — 2 Factor Authentication
This is a must! Don’t skip this step. If your exchange password becomes compromised your hard earned money will be long gone. If in the event someone gets a hold of your exchange password they would still need access to your google authenticator application on your phone to gain access to your account.
Buy some EOS
The process of buying EOS on the exchange should be a fairly simple one if you do have trouble there is support and help pages within the exchange website to help you.
DO NOT LEAVE YOUR EOS ON THE EXCHANGE!
Once you have bought some EOS don’t make the mistake of leaving it on the exchange! This defies the whole purpose of cryptocurrencies and blockchain technology. Leaving your crypto on an exchange is no different to leaving it in a bank.
Step 2 – Open an EOS Account
Before you can transfer your EOS off the exchange and onto the EOS blockchain you will need to create an EOS account. I find the following website to be the most trustworthy and easy to navigate account creation tool available.
You will need to choose a 12 character EOS account name and attach public and private keys to it. You can pay for the account using a credit card. Please keep your private keys safe and do not enter them into any websites.
One of the most impressive and unique features of EOS is the ability to choose your own 12 character account name. This is extremely useful when sending and receiving funds as it’s much easier to send EOS to an account name like theeoswriter than to 1d1tAsz5x1HOXrCNLbtMJqcw6o5PNn4xqX.
Step 3 – Send EOS from exchange to your EOS account.
So now your new personalized EOS account is up and running it’s time to send some EOS from the exchange to your account. This is a scary thing to do! I remember the first time I did it thinking I hope this works! Rest assured once you do it a few times you will start to become confident moving funds around. A good idea is to start with small amounts until you get the hang of it.
The exchange will have an EOS wallet. Simply enter the amount you want to send, the EOS payment address (your EOS account) and 2FA code. Most exchanges will send you a confirmation email, carefully check the details and confirm. The transaction may take a couple of minutes as it’s coming from a centralized exchange. EOS to EOS account transactions are almost instantaneous.
To view your EOS account and check that the funds have arrived go to the https://bloks.io/ block explorer and type in your EOS account name. You will be able to see your account balance and the associated transfer details.
To move your EOS around on the blockchain you will need to use an EOS wallet. Your EOS wallet does not actually store funds like the physical wallets we are accustomed to, it’s simply a portal to access your EOS tokens which never actually leave the EOS blockchain.
There are numerous wallet options available but please be very careful as to which one you choose. Phishing scams are out there and waiting for your private key and EOS.
Our pick for the most user friendly and trustworthy EOS wallet is…
Step 4 – Set up Scatter
Scatter is a desktop application which allows you to sign transactions without needing to enter your private key every time. It is necessary to use EOS dApp’s and is widely used and trusted.
You can download and install Scatter here – https://get-scatter.com/
Once you have Scatter installed a new world of EOS dApps awaits!
Step 5 – Start using the EOS blockchain.
One of the best ways to become familiar with using EOS is through a block explorer. I have found that bloks.io is the most user-friendly and feature complete. I use it to do all my fund transfers, voting and to look up details of past transactions. – https://bloks.io/
Voting for BP’s (block producers)
If you want to help the EOS blockchain remain secure and stable the most valuable thing you can do is vote for good block producers. You can vote for up to 30 BP’s and every vote counts. Simply click on the vote tab of bloks.io once you’re logged in with scatter and select your favorite BP’s.
Researching all of the BP’s is a great way to learn more about EOS and the community but not everyone has the time to do so. If you don’t it is probably best to proxy your vote to someone else who can vote on behalf of you. Below is a list of our preferred proxies with links to more information.
investingwad – www.alohaeos.com/vote/proxy/investingwad
brockpierce1 – www.alohaeos.com/vote/proxy/brockpierce1
chintaiproxy – www.alohaeos.com/vote/proxy/chintaiproxy
theeoswriter – www.alohaeos.com/vote/proxy/theeoswriter
dApps (decentralised applications)
This is why EOS was created, at its core EOS is a platform to run decentralized applications and it is doing an amazing job so far. In just over 8 months since the launch of the EOS blockchain, there has been a steady stream of quality dApps running on the mainnet. Listed below are some of the most impressive I have come across…
Do not feel overwhelmed if you don’t progress through all these steps straight away! There’s a lot to learn and it is best to take it slowly and not make any mistakes. If you have any questions please leave me a comment below and I’ll do my best to help or at least point you in the right direction.
Also if you need help with all this cryptocurrency lingo there’s a great article by EOS Canada listing the A-Z glossary of blockchain terms.
If you enjoyed or found value in this guide and would like to share it with others please link to the overview page here.
Disclaimer. EOSwriter does not endorse any content or product on this page. While we aim at providing you with all the important information we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.