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Is EOS a good investment?

Henning Taeger
Henning Taeger
Henning is a writer and editor here at Dollargeek who is passionate about personal finance and cryptocurrency. He enjoys sharing his knowledge about financial management and cryptocurrency with readers, helping them make informed decisions about their money. In his spare time, Henning can be found playing the latest video games or jamming on his guitar. He is constantly on the lookout for new ways to improve his financial literacy and stay up-to-date on the latest trends in the world of cryptocurrency.

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Is EOS a good investment?
Table of Contents

Introduction

EOS is the official utility token of the EOS Network. The EOS Network is an open-source blockchain platform that allows for high scalability, flexibility, security, and decentralized development. It is a third-generation blockchain platform that is powered by its unique EOS virtual machine and utilizes an extensible WebAssembly engine for the execution of gasless transactions.

EOS is the market’s most scalable, divisible, and programmable digital currency that allows developers to build projects that other blockchain networks cannot support. The tools used are also straightforward and help users adapt to the overly complex world of the blockchain.

If you are looking to invest in EOS and you have little to no information about the coin, this article will provide full insight into the pros and cons. It will also shed more light on EOS’s history over the past few years and talk about investment safety to allow you to make your decision easier.

EOS investing: Is it safe?

Like every kind of investing, be it stocks, gold, or oil, there are risks, and EOS is no exception. Investing in EOS is very risky as it is unlike the conventional kinds of investment where the risks are reduced. Over the past few years, its store of value has been turbulent as it experienced several boom and bust cycles, which have both been favorable and unfavorable to many.

A look back at EOS’s past performance 

2017

In the initial year of listing, the ICO raised more than $4 billion, and EOS stood at $1.20. In July 2017, the coin achieved a staggering increase and was worth $5.48. However, this increase was short-lived as it fell to an astounding $0.50 in October. In December 2017, EOS rose again to $12.50 as a result of the combined efforts and assistance from its supporters.

2018

The EOS token experienced another bull run in 2018 as it skyrocketed from its initial price of $0.50 to $23. 

2019

After retreating for a while, the EOS token gained massive momentum and rose to a price of $8.50. Before the pandemic commenced and major financial platforms became destabilized, the EOS token fell to a price of $2.65.

2020

In 2020, the EOS token grew to $3 from its initial price, and by late June, its price hovered around the $2.20-$3.00 price mark. However, in August 2021, it managed to break past the $3.50 resistance level and peaked at a price level of $3.90.

2021

2021 was the year of the coin’s unprecedented increase. In a bid to save the token, the founding company, Block.One developed the EOSIO platform and secured $10 billion in funding. This projected the EOS token price to $14.88 in May. The company also developed a new subsidiary called Bullish Global and partnered with the EOS platform to be a block producer for the network.

After breaking the $3 resistance limit, it went ahead to achieve a new high price of $14.88 in May 2021. However, this new limit was short-lived, as the coin began to decline steadily. In September 2021, the coin was reduced to $3.20, and it seemed there was no way it would bounce back.

2022

The token continued to follow the moderate bearish trend until today and is currently trading below $3. As of writing, EOS is currently at $1.73 and there is speculation that this supposedly ‘Ethereum-killer’ can bounce back.

Is it a good idea to invest in EOS?

Investing in EOS can be a good idea if you are ready to accept the risks it presents. With proper knowledge about virtual currency, there is a high chance it could pay off eventually. However, it can also render you penniless if you are not careful.

What speaks against investing in EOS?

High volatility 

Many features make EOS an attractive investment, and one is its high liquidity. High liquidity in EOS means it can be converted to cash easily, unlike other kinds of investment.

No compensation scheme

Investing in EOS comes with additional risks, as there are no national compensation schemes that protect you and your investment. In the UK, people holding money in organisms approved and regulated by the Financial Conduct Authority (FCA) are protected by their Financial Service Compensation Scheme. This scheme allows them to recuperate their loss by providing compensation as high as £85,000 in case the firm goes bankrupt. 

What factors make EOS an attractive investment?

EOS possesses so many features that catch the eye. It now stands toe-to-toe with gold and stocks and has been recognized by many national organizations in the world. Some of these attractive features include:

High liquidity 

Many features make EOS an attractive investment, and one is its high liquidity. High liquidity in EOS means it can be converted to cash easily, unlike other kinds of investments.

Privacy, Liberty, and Ease

EOS is also a secured form of finance that provides immense ease, privacy, and liberty to the holders. The coins correct and improve the flaws of the traditional banking system by removing the need for paperwork, abolishing the age limit, improving comfort, and maximizing the speed of every transaction. With EOS, user privacy and liberty are promoted as intended. EOS holders do not have to disclose any personal information about themselves or follow the limited rules of financial transactions imposed by banks.

Decentralization

EOS is fully decentralized, meaning it is not under the control of a centralized authority or law. There are no governing rules or prying eyes as the safety and privacy of your transactions are guaranteed. Due to the decentralized nature of token distribution on EOS, power doesn’t reside in the hands of block miners, but rather all parties involved in the EOS Network.

Pros and cons of investing in EOS

Investing in EOS has many advantages. However, they come with some corresponding disadvantages.

Pros

No Barrier/Easy Accessibility 

EOS has no barriers and does not discriminate. This means you can be of any gender or age to invest, and the best part is you can easily do this in the comfort of your home.

High return potential

EOS has one of the highest returns on investment as the ROI value can be as high as 6900%. Compared to other forms of investment, EOS offers massive increases in a short time, and these returns can be converted to fiat currency or other forms of finance.

Verifiable transaction

Every EOS transaction can be verified easily as it is stored on the blockchain. It includes the time of transaction and the accounts involved—this digital ledger is also immutable and cannot be changed.

Cons

No regulations and increased chance of scam

Decentralization offers liberty to the users, and many EOS holders fear that the token is a “pump and dump scheme” controlled by whales. This means the token is a Ponzi scheme deployed by the elites to drain people’s resources. 

Irreversible

Like every decentralized token, EOS transactions are irreversible and refunds can only be made by the receiving end. The irreversibility of the transactions helps prevent double-spending and fraud.

In rare cases where the address of the sender or receiver is wrong, the electronic mechanism of EOS prevents reversal, and thus, the sent or received token cannot be retrieved.

Limited adoption and use

With the right paper or fiat currency in the right country, buying and selling can be done easily. Unlike fiat currency, EOS has limited adoption and is not accepted everywhere. EOS needs to be converted to an acceptable local currency before it is used.

Different ways of investing in EOS (Buy and Hold, Trading)

For budding investors, there are different ways to invest in EOS, and they include: 

Buy and Hold 

For young investors with no knowledge of investing, buying EOS and holding it for a while is the easiest way of making money. All you need to do is to exchange your fiat currency for some EOS tokens by buying them from a verified cryptocurrency exchange.

After the tokens have been deposited into your account, you then hold them for some time and sell them off once they reach another all-time high value. Buying and holding is a long-term investment plan, as the price of EOS might struggle to increase over time.

Trading

Trading EOS is another way of investing. It entails buying at a lower price and selling at a higher price to make profits. Trading can either be a short or long-term investment plan and requires a great deal of knowledge. Hence, only intermediate and expert investors trade Bitcoin.

Staking

Staking is another great way to generate passive income, as some cryptocurrencies offer high-interest rates for staking. Staking offers crypto holders a way of putting their digital assets to work and earning passive income without needing to sell them or trade actively.

Farming

Farming is another means of earning interest on your cryptocurrency. It is similar to earning interest on money in your savings account. Farming is also similar to staking and is a beginner-friendly alternative to EOS trading.

How much should you invest in EOS?

You should invest only what you can comfortably lose. Ensure you do not lend money or use up all your finances, as the risks of investment outweigh the profit in most cases.

Your investment should be around 5% to 20% of your investment capital, and investing 50% or more can be dangerous. However, the decision is yours, as your choice depends on your risk tolerance and the amount of money you can afford to lose.

Expert predictions on EOS

Note: These predictions are not financial advice, but rather speculations from popular economic analysts. They are not financial advice to be followed, and they should only serve as a guideline for your future choices.

EOS Price Prediction for 2023: Between $1.98 and $2.40

After the analysis of the prices of EOS in previous years, it is assumed that in 2023, the minimum price of EOS will be around $1.98. Although many assume the coin will achieve a sporadic increase the following year, experts believe that it will continue to tread slowly.

The maximum expected EOS price may be around $2.40 and the average trading price could hover around the $2 resistant level. However, holders should expect the coin to drop to a price level of $1.50 or less.

EOS Price Prediction for 2024: Between $2.90 and $3.45

Based on the technical analysis by cryptocurrency experts regarding the prices of EOS, in 2024, EOS is expected to cross the $3 resistance mark and create a stable balance. The expected minimum and maximum prices should be $2.82 and $3.45, respectively, and the average trading price could be $2.90.

EOS Price Prediction for 2025: Between $4.05 and $4.89

Experts have analyzed the prices of EOS and their fluctuations during the previous years, and if things go as planned, it is assumed that in 2025, the minimum EOS price might drop to $4.05, while its maximum could reach $4.89. 

EOS Price Prediction for 2026: Between $6.05 and $6.82

Based on the analysis of the cost of EOS by crypto experts, EOS holders could expect the price to be $6.82 and the average trading price could be $6.05. However, the minimum value of the token could be $5.71.

EOS Price Prediction for 2027: Between $8.16 and $8.45

Based on the calculations, the estimated average EOS price will be around $8.45. It might drop to a minimum of $8.16, but it is possible that it might cross the $9 resistance level.

EOS Price Prediction for 2030: Between $30.00 and $30.56.

The year 2030 seems profitable, as experts believe the token price could be trading for at least $25.45. We are likely to see a new all-time high for the coin, as it might break through the $30 price limit and sit at $30.56.

Conclusion

As with any investment, financial planners and other experts advise against letting Bitcoin’s price fluctuations lead you to invest.

Ensure you do your research before you choose to pool your resources. Remember that EOS is a very profitable investment that can benefit you in the long or short run. However, it can also send you into debt if you do not play safe.

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