EOS is a project that aims to offer developers an easy way to build decentralized apps. It’s pretty similar to Ethereum, except that it uses a completely different set of tools. It is built with one goal in mind — to make blockchain technology easily accessible to programmers all around the world. Just like every blockchain–based project, EOS has a cryptocurrency that powers its ecosystem, and that’s actually what we’re interested in. In this article, we’ll explore the best EOS wallets.
EOS as a cryptocurrency was introduced to the world in 2017. Its price started going up gradually, only to see the first peak in January 2018. Then, the overall crypto market exploded. At that moment, a single unit of EOS cost approximately $15. However, it wasn’t all downhill from there, as EOS experienced another peak a couple of months later when the price reached $20.
Since then, the price has fluctuated a lot and is now between $2 and $3.
Nevertheless, it seems that the coin is getting popular as the trading volume has been higher for the past year. At the moment of writing this article, the total market cap for this crypto is $2.48 billion, and the total circulating supply is over 936 million EOS. Its maximum supply is limited to 1,023,448,437 EOS.
It’s difficult to tell whether this cryptocurrency has a bright future, as the crypto world is still fairly new. However, some articles are pretty excited about its price potential.
There are basically a few things you can do with cryptocurrencies, including EOS. One of them is to join a crypto trading platform and start trading it for other cryptos. Another one is to buy stuff from merchants accepting EOS. You can also invest in the EOS crypto and hold it in hopes of getting ROI. In either case, a wallet is necessary.
Best EOS Wallets 2020
If you’re a newcomer to the crypto space and haven’t stumbled upon EOS before, here’s one essential rule — everything starts with a proper EOS wallet. But, take into account that EOS charges commissions on transactions, and you need to pay an entrance fee to start using an EOS wallet. However, not all wallets are like that, so most wallets listed in this article offer fee–free registration.
We’ll discuss popular wallets in this article, paying attention to three main categories: software, hardware, and paper wallets, so let’s check them out.
If you don’t want to keep your EOS on a standalone device, software apps are the thing for you. They are basically computer programs used to store cryptos. Apart from not being physically present, software wallets require the Internet connection to function as intended. They’re “hot.”
The software can be installed on a PC or a mobile device (or both). Let’s see what options are there for people who prefer this type of crypto storage.
Perhaps the most popular option out there, Freewallet is free to use. It offers a plethora of useful features that can improve your overall cryptocurrency experience. If you lose your device where Freewallet is installed, you can securely freeze your wallet account and use another device to log in.
You can further secure your account by connecting a mobile number or providing an email address. Most importantly, Freewallet is not an EOS–exclusive wallet. It means you’ll have an opportunity to store other cryptocurrencies there. It’s also very light and thus, will not take a lot of space or RAM on your phone.
If you’re an experienced crypto trader and EOS enthusiast, GreyMass might be the perfect choice for you. However, if you’re new to the crypto sphere, you should stay away from GreyMass until you feel confident enough. It enables some great features such as voting for producers that are part of the network.
Crypto money has been penetrating every industry, and one that has been closely associated with them is the gaming industry. That’s why Wombat was created in the first place. It’s beginner–friendly and gamer–oriented. You can access unlimited play for some games and even automatically re–stake the apps you like in Wombat. It is only available for Android users at the moment, and you need to use your Google account to sign in, which some EOS users don’t really enjoy.
This type of device is often regarded as a more secure option compared to software wallets. They are disconnected from the web and can keep your funds safely and away from cybercriminals. Although there are no EOS–specific hardware wallets, there are plenty of them that accept EOS. Mind you, they are overall more expensive compared to their software counterparts.
Ledger Nano S
This wallet is widely regarded as the best for its price ($59), with the only real competitor being the other Ledger Nano model — Nano X. This wallet accepts many leading cryptocurrencies at the moment, and even has an LED screen which facilitates the trading process, as you have an opportunity to check information via the screen. It looks like a small flash drive and you can connect it to your PC or laptop using USB. Needless to say, the security of this wallet is as great as it can get.
Ledger Nano X
The successor to Nano S, the Nano X model costs a bit more ($119), but also offers some of the features that you cannot find with its predecessor. For example, Nano X allows users to install more apps when it’s connected to the PC, whereas Nano S allows only one app. Essentially, you can install multiple wallets on Nano X. Another huge advantage of this wallet is that it comes with Bluetooth, meaning it can be connected easily to mobile devices.
Some cryptocurrency enthusiasts use paper wallets as they consider them a secure and affordable method. Essentially, all you have to do is use an online wallet generator and print out the results to your paper. That way, your wallet is not on the web, so the possibility of losing your funds to hackers is minimal. We dare say non–existent. Moreover, you don’t have to buy fancy equipment such as Ledger Nano wallets.
However, they have a lot of disadvantages, and are widely regarded as obsolete. The main downside of paper wallets is that you actually have to keep the paper as it contains QR codes for your keys (which are often difficult to memorize).
There’s only one EOS paper wallet available at the moment — EOS Cafe. Feel free to explore how it works and please read more about it.
Exchanging the EOS Crypto at Godex.io
Using your EOS wallet at Godex.io is a simple task, and it’s even more straightforward in the exchanges of this type, compared to their traditional counterparts. Here’s a simple guide on buying crypto via Godex with your EOS cryptocurrency wallet.
- Enter how many units you wish to buy;
- Enter the wallet address in the field indicated with “destination address” (your EOS will arrive at that address once you purchase it). After that, enter “sender address” in the appropriate field. This is the address of the crypto you use to make a purchase;
- The system will generate the address for you. Make a payment to it;
- The system will exchange your funds. After it is completed, EOS will be sent to your wallet in a matter of minutes;
- Finally, the “completed” page will load after the transaction is over where you can learn more about it. Make sure to check your EOS wallet for new funds. There’s no need to set limits or provide any personal data on Godex.io, as it’s an anonymous platform.
As you can see, connecting your EOS wallet to Godex is an effortless process. We wouldn’t even call it “connecting” as you only need to provide your wallet address, without giving away any personal info. That’s one of the main reasons why Godex is considered a simple, secure, and reliable platform.
Hopefully, you are now familiar with the processes of using cryptocurrency wallets. Moreover, you should be able to understand the purpose of wallets and what role they play in the world of cryptocurrencies.
The first step is selecting the wallet. If you opt for the software ones, you can actually start using them right away. Once you complete that, you can start transferring EOS in no time and with minimal fees.