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How to Buy EOS in the UK (2022)

Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.

There are a number of places where you can buy EOS in the UK…

But it’s easy to get ripped off if you’re not paying attention.

In this quick guide, I cover the best places to buy EOS in the UK with GBP (and various payment methods).

Summary: Best Places to Buy EOS in the UK

Here are the best places to buy EOS in the UK:

ProviderPayment MethodFees (Approx.)
Coinbase ProUK Bank Transfer< 1%
KrakenUK Bank Transfer< 1%
CoinJarUK Bank Transfer1%+
CoinJarCredit & Debit Card2%+
Crypto.comCredit & Debit Card2.99%+

Without a doubt, Coinbase Pro or Kraken are two of the best cryptocurrency exchanges where you can buy EOS in the UK. On both of these crypto exchanges, you can also buy a growing number of other cryptocurrencies at the real exchange without paying high fees.

Want something a little different?

CoinJar allows UK residents to easily and quickly buy EOS and a growing number of other cryptocurrencies with a UK bank transfer (without paying extortionate fees).

Scroll down to learn more about your best options.

How to Buy EOS in the UK

1. Coinbase Pro [Best Cryptocurrency Exchange]

Coinbase Pro is one of the cheapest places where you can buy EOS in the UK.

When you buy or sell cryptocurrencies on this cryptocurrency exchange, you’ll pay a maximum trading fee of 0.5%.

And in 2022, you can deposit GBP into Coinbase Pro using a UK bank transfer for FREE. The first time you deposit GBP into Coinbase Pro might take a few hours, but thereafter I’ve found that GBP I transfer over (from the same bank account) is credited within minutes.

There’s just one small complication…

There’s currently no EOS/GBP trading pair on Coinbase Pro. This means that you can’t DIRECTLY buy EOS with GBP.

What EOS trading pairs are available on Coinbase Pro?

Coinbase Pro currently has 3 EOS trading pairs:

  • EOS/USD
  • EOS/EUR
  • EOS/BTC

Is this a big problem?

Not really. It just makes the process a little bit more of a faff. Here’s what the process would look like:

Overview of Option #1

  • Create a Coinbase account.
  • Verify your identity (KYC). This might take some time. When you’ve sorted this out, you should automatically get access to Coinbase Pro.
  • Deposit GBP using a UK bank transfer into Coinbase Pro. Your first deposit might take longer to be processed.
  • Buy Tether (USDT) using your GBP on the USDT/GBP spot market. You’ll get quoted the real exchange rate and pay trading fees of 0.01%.
  • Buy EUR using your Tether (USDT) on the USDT/EUR spot market. Again, you’ll be quoted the real exchange rate and pay trading fees of 0.01%.
  • Buy EOS using the Tether (USDT) you’ve just bought on the EOS/USDT spot market. You’ll be quoted the real exchange rate, but you’ll pay up to 0.5% in fees this time.

Head over to the website to check it out yourself.

Learn MoreCoinbase Pro Review

2. Kraken [Popular Cryptocurrency Exchange]

Kraken is another great way to buy EOS in the UK.

It supports free GBP deposits via UK bank transfers, with Faster Payments support – which reduces the time it takes for your money to arrive with Kraken.

Fees are low too. When trading cryptocurrencies, you’ll pay up to 0.16% if you’re a market maker or up to 0.26% if you’re a market taker.

Overview of Option #2

  • Create a Kraken account.
  • Complete verification to get an Intermediate or Pro level account.
  • Deposit GBP (via a UK bank transfer) to your Kraken GBP wallet.
  • Purchase Bitcoin (BTC) with your GBP balance.
  • Head over to the EOS/BTC market and buy EOS (real exchange rate, low fees).

Getting registered and verified on Kraken is a little cumbersome and will take longer to get going than just using CoinJar. In the UK, you’ll need to provide them with a government-issued ID and proof of residence (see here for more details on that).

If you’ve never used a cryptocurrency exchange before, then you might find Kraken a bit more difficult than Coinbase Pro (as there’s more information to get distracted by).

Learn MoreKraken Review

3. CoinJar

CoinJar makes it simple, quick, and easy to buy EOS and a growing number of other cryptocurrencies DIRECTLY with GBP in the UK.

You can currently only deposit GBP into CoinJar with a UK bank transfer (via Faster Payments). However, this is FREE and FAST. After making the initial transfer from my bank to CoinJar, I’ve found that subsequent deposits are being credited within minutes.

Once you’ve got GBP into CoinJar, you’ll be charged a fixed fee of 1% to buy EOS and any other supported cryptocurrency. On top of this, the prices you’re quoted might be a little higher than the real exchange rate. This varies day-to-day, but it does tend to be quite close to the prices on popular cryptocurrency exchanges (up to 0.5% when I’ve checked).

Overview of Option #3

  • Create a CoinJar account and complete verification.
  • Deposit GBP with a UK bank transfer to your CoinJar GBP wallet.
  • Buy Bitcoin (BTC) using your GBP wallet balance (1% fees).

While CoinJar is more expensive than using a cryptocurrency exchange, it’s much more beginner-friendly.

CoinJar WebsiteCoinJar Review

4. Crypto.com App

Crypto.com has recently been making a big push in the cryptocurrency space.

They’ve added loads of new features over the last 12 months and attracted millions of new users.

You can deposit GBP with a UK bank transfer for FREE and then use your GBP balance to buy EOS and any other cryptocurrencies. You won’t pay any explicit fees when you do this, but the exchange rate is more than 1% higher than it should be.

You can also buy EOS with a debit card or credit card using the Crypto.com app. This is processed instantly, but you’ll pay 2.99% for the convenience. As mentioned above, keep in mind that the exchange rate you’re quoted will also be higher than it should be (1%+).

On the plus side…open a new account with Crypto.com and you’ll these fees waived for the first 30 days.

Overview of Option #4

Download Mobile AppCrypto.com Review

What is EOS (EOS)?

EOS is a decentralized, blockchain-based operating system that aims to run industrial-sized decentralized apps (dapps) without any transaction fees.

Once completed, the development team claims that EOS will process over a million transactions per second (TPS), solving one of the biggest problems in the blockchain/cryptocurrency sphere: scalability.

By comparison, the Ethereum (ETH) network can only process up to 20 TPS. For context, the Visa network processes just over 1600 TPS.

But why would someone hold the EOS token?

Unlike Ethereum (ETH), Cardano (ADA), and other smart contract networks, EOS doesn’t have a fee structure. Instead, access to the EOS.IO network and its computing resources depends upon how many EOS tokens a user holds.

The number of EOS tokens you hold can be thought of as how much of the network’s resources you own and can use.

This model is unique and does solve the issue of large transaction fees. However, it can provide a significant barrier to entry to small-time users who don’t have the resources to purchase enough EOS to leverage the power of the network.

Because of this, EOS is strongly geared towards commercial dapps and not hobbyists.

In May 2021, Block.one – the company that created the network – announced they were stopping all work on EOS and focusing their efforts on developing a hybrid exchange called Bullish.

Bullish will include aspects of both a centralized and decentralized exchange and focus on legal compliance issues for institutional investors. Originally, Block.one said Bullish would run on the EOS.IO system, although it is unclear if this is still the plan.

I recommend checking out this video to understand a bit more about this project:

Is EOS operational?

Yes. However, the network is nowhere near 1 million TPS and currently achieves around 1,000 TPS.

How does EOS plan on achieving over 1 million transactions per second?

The EOSIO uses a consensus mechanism called delegated proof of stake (DPoS). Unlike Bitcoin (BTC) – where transactions require full consensus – DPoS uses a democratic process to choose the next block creators.

While DPoS is faster, it has clear centralization issues. Check out this page for more details.

Best EOS Wallets

If you buy EOS in any of these places, you can leave it with them.

This is easier and more convenient, as it means you don’t have to think much about keeping your EOS safe.

However, there are lots of non-custodial (i.e. wallets YOU control access to) EOS wallets out there.

Here are just a few options I like:

I’ve tested most of the hardware wallets available right now.

Welcome screen on the Ledger Nano S

My favourite is probably the Ledger Nano S, as it supports a ridiculous number of cryptocurrencies and is affordable (approx. £55). Check out my Ledger Nano S review to learn more about that.

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