How To Earn & Spend EOS

It is not always possible to invest as much money as you would like in cryptocurrencies. Sometimes, it’s because you can’t afford it, other times, you don’t want to use your fiat to buy crypto. In this guide, we’ll explain how to earn EOS without investing. If you are interested in this project, it will be a great opportunity to pick up a few EOS.

On the other hand, you may also already have EOS in your possession, but you don’t exactly know what to do with them. For you, we’ll show you some options for spending EOS.

Of course, we will not be giving an exhaustive list of all the possible ways to use your EOS. We will only show you our favourite ways of earning and spending EOS in this guide, otherwise we would never be able to finish writing it!

Buying and selling EOS on a reliable exchange site

Usually, if you want to buy or sell a digital asset, you should use an exchange site. This is the easiest and most direct way to buy or sell EOS.

However, it is important not to do this on a dodgy site, as the risk of never seeing the money or crypto you deposited on it is high. That’s why we strongly recommend that you use only platforms that have proven their worth in the blockchain community.

In the list above, you will find reliable exchange sites where you can buy or sell EOS for fiat money (euros, dollars, etc.) or other cryptocurrencies (BTC, ETH, etc.). If you don’t know where to do your trades, we strongly advise you to only register on one of these platforms as a security measure.

How to earn EOS without spending money

When you want to invest in cryptocurrencies, you may sometimes have some problems passing the platform’s KYC measures, you may not have as much money as you want to spend on crypto, or you may be put off by stories of scams in the industry.

But it doesn’t matter, because there are always some ways of gaining digital assets without the slightest investment, as is the case with EOS.

In order not to overwhelm you with far too wide a choice, we will simply explain some of the existing options, the ones we consider to be the most convenient to get free EOS tokens.

By participating in the EOSCrash Bug Bounty Programme

In order to make their protocol as secure as possible, the project’s parent company has implemented the EOSCrash Bug Bounty Programme. Simply put, if a person manages to find a bug that could harm the project, they can report it to the development team and earn money.

Of course, this is not something for everyone, because it requires programming skills and the ability to analyze the code of the different parts that make EOS work.

However, if you have the required skills, it is possible to pocket a lot of money in the form of EOS tokens. According to official sources from the project, one person has already managed to earn more than $100,000 by detecting bugs. So this is an extremely lucrative method if you have the skills to successfully find bugs in the protocol code.

By staking EOS

Because of the proof-of-stake consensus EOS uses to run its blockchain and verify transactions, it is necessary for some users to stake their tokens in order to become a Block Producer. By doing this, the project offers rewards in the form of EOS.

However, it is necessary to already have EOS tokens beforehand. If you don’t want to invest directly in the project, this is not a good idea for you.

In addition, the tokens you are going to stake can be locked up for a long period of time. It is still possible to withdraw your stake, but you will lose a good chunk of the rewards you would have been entitled to by seeing the staking period that you selected through to completion.

Bonuses at crypto casinos

Due to the popularity of EOS, it is possible to use this digital asset to play at an online casino that accepts cryptocurrencies. However, not all operators who accept digital assets support EOS.

Once registered at an EOS casino, it is possible to take advantage of certain promotional offers offered by the operator, such as free bonuses or promotions on your deposits. By collecting the various offers, you can play free casino games, while having the possibility to withdraw your winnings in the form of EOS later.

Please be very careful when gambling online, however. While it is possible to win large sums with a little luck, it is also possible to lose a lot of money if you do not know how to limit yourself. Sign up for a crypto casino only if you are able to control yourself, otherwise the risk is too great.

How to spend your EOS 

If you already have EOS, then it’s not the question of how to get it, but how to spend it. Again, it’s not always easy to understand how to make the best use of your tokens.

In order to help you, below are some tips on how to spend EOS tokens. There are, of course, other methods, but these are the ones that we consider to be the top options for the EOS network and vision.

By using DApps that work on the network

Like Ethereum, EOS also has its own ecosystem, which is one of the most developed in the industry. It is possible to use DApps (Decentralised Applications) with your EOS tokens.

If you want to spend EOS and feel that one of the DApps is useful for your needs, then you have a great opportunity to use your EOS tokens for this.

While the choice is currently relatively limited, the project ecosystem is gradually developing. In the near future, it is certain that you will have at your disposal many DApps, some of which will be extremely useful to your needs.

By paying for your purchases with your EOS tokens

While some merchants, whether online or in real life, allow users to pay with Bitcoin or Ethereum, they may also accept other cryptocurrencies, such as EOS.

However, EOS will never be accepted as a single digital payment currency and will never replace BTC or ETH. You therefore have two options at your disposal to spend this cryptocurrency. The first is to find a merchant who accepts payments directly with EOS. It’s pretty rare, but there are still a few out there.

The second option is to successfully find a seller who has a multi-crypt payment system. With this option, it is possible for a buyer to pay with any digital assets in their possession, such as the EOS. Then, thanks to an automatic conversion system, the seller can receive their payment in the (crypto)currency of their choice.

Thanks to a special crypto bank card

Since not all merchants directly accept crypto payments or have a system that allows them to automatically convert your payment into the currency of their choice, some crypto companies have decided to specialise in crypto bank cards.

To obtain one of these cards, you must have an account with the issuing company, where you will register your EOS wallet address. Then, when you make a payment with your Visa or Mastercard, the equivalent of the fiat money spent will be converted to EOS and deducted from your balance.

Keep in mind that given the lack of competition between the companies that supply these crypto cards, the fees are still a little too high at the moment. However, these should quickly decline when other companies arrive in the sector and paying with this type of card will be a very good alternative to spend your EOS.

Conclusion

We hope you liked our article and that it helped you to discover new methods of buying cheaper EOS tokens or options to spend your tokens.

EOS is one of the few projects where you can pocket a lot of money if you can find bugs in their protocol. Apart from that, the other methods that allow you to earn tokens will not really offer you a significant amount that could change your life. However, they will still allow you to be one of the project’s token holders.

If you are looking to spend your EOS tokens, then you are in luck as the project is already sufficiently developed for you to do so within the ecosystem. However, if you want more choices, you will have to wait a little longer for the developers to start programming new and innovative DApps. If you want to spend your EOS outside the ecosystem, you will need to do so in a similar way to any other cryptocurrencies.

In case you want to learn more about EOS, we’ve created a series of EOS guides (insert link) that each time cover a very specific aspect of the project. You will be able to discover new things each time by checking out a specific topic.