Differences between EOS tokens vs EOS on exchanges?

Cryptocurrency Forum - Jul 5th 2017

  1. Jubie


    Jul 2017
    Hi Crypto guys,

    I have 3 questions concerning EOS I hope someone can explain it with simple words.
    1. The difference between the EOS tokens and the EOS you can directly buy on exchange services?
    2. How to transfer EOS (bought on Kraken) to a software / hardware wallet?
    3. Is there anything different / things we should be aware of in buying / holding EOS compare to Bitcoins and Altcoins because to this distrubution period?

    Thanks a lot upfront!
  2. lala


    Jul 2017
    Hi , I was looking for an answer to question 1 and was hoping someone was on to it...I guess not.
    Anyway , answer to question 2 is simple;
    1. create a deposit address in your kraken account for EOS
    2. buy the EOS
    3. I opened an MyEtherWallet , follow instruction and Save! the private key,paper ,keystore etc.
    4.Name and save the wallet's address in kraken
    5.Send 1 token to test , wait for it to get to My wallet- the cost is half a token irrespective of the amount you send

    Hope this helps
    Last edited by a moderator: Nov 3rd 2017
  3. V4Vendetta


    Apr 2017
    1. Since EOS is still in it's ICO phase (for approximately 1 year from its launch) all tokens that appear on exchanges like Kraken, etc, are essentially IOU's. It is important to understand the risk of investment. Many of these questions can be answered here.
    2. If you're looking to store your EOS on somewhere other than exchange I would suggest using the Exodus wallet which you can download here.
    3. Read the link I provided above under number 1 for all relevant answers, however, here are two examples from the link that are most important :
    • EOS TOKENS HAVE NO RIGHTS, USES OR ATTRIBUTES. The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform. Company does not guarantee and is not representing in any way to Buyer that the EOS Tokens have any rights, uses, purpose, attributes, functionalities or features.

    • NOT A PURCHASE OF EOS PLATFORM TOKENS. EOS Tokens purchased under this Agreement are not tokens on the EOS Platform. Buyer acknowledges, understands and agrees that Buyer should not expect and there is no guarantee or representation made by Company that Buyer will receive any other product, service, rights, attributes, functionalities, features or assets of any kind whatsoever, including, without limitation, any cryptographic tokens or digital assets now or in the future whether through receipt, exchange, conversion, redemption or otherwise.

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