How to buy and claim EOS tokens: a step by step tutorial

in eos •  2 years ago  (edited)

eos-billy-huynh-278252.jpg

Many of us already have heard about EOS, a new blockchain project of Steemit’s visionary cofounder Dan Larimer. From this detailed guide you will learn how to buy EOS tokens using MyEtherWallet, one of the safest Ethereum wallets out there.

Why I’ve decided to invest in EOS

There are two main reasons why I've chosen to invest in EOS tokens when there’s such a plenty of opportunities.

First, because I believe this project will bring to us more freedom, be it financial freedom, freedom of enterprise or freedom of speech. It will create a thriving ecosystem for thousands of decentralized apps. It will be fee free for end users. The EOS blockchain will even have its own constitution! :)

Second, because I believe it will be huge. EOS is meant to be lightning fast and very advanced technically. EOS is positioned as a blockchain operating system with unmatched operational capacity for commercial scale decentralized apps. It will directly compete with Ethereum and a few smaller platforms. EOS based apps won’t require users to pay for every action they take. Instead of fees, blockchain capacity will be allocated proportional to the percent of EOS staked by an app.

Please note it's a long term investment as the EOS sale will end in almost a year and you’ll get native EOS tokens only after that.

Overview

The process has these three main steps: send Ethereum to buy EOS ICO (Initial Coin Offering) tokens, claim these tokens and register for claiming native EOS tokens after the ICO ends.

If you want to invest some SBD or STEEM in EOS, you can quickly send them to MyEtherWallet using blocktrades.us.

1. Buy Ethereum based EOS tokens

The first step is easy — you need to send ether for Ethereum based EOS ICO tokens.

mew-send.png

  1. Open eos.io (type the link manually and check twice whether you're on the correct website).
  2. Scroll down and click GET EOS.
  3. Review the conditions, check all the boxes if agree and click Continue.
  4. Copy the Ethereum address for the token distribution.
  5. Go to MyEtherWallet and click Send Ether & Tokens from the main menu. After unlocking your wallet put the address copied at the previous step to the address field and a desired amount (minimum 0.01 ETH) to the Amount field. Don't send all the balance you have — leave something for transaction fees. Press Generate Transaction and submit.

2. Claim the tokens you've paid for

In about 24 hours you can claim your tokens. You can see when exactly a current sale period ends at eosscan.io website.

mew-claim.png

  1. Go to MyEtherWallet and click Contracts from the top menu.
  2. Select EOS - Contribution from Select Existing Contract dropdown. The address you've previously sent ETH to will appear. Click Access.
  3. Select claimAll from the Select a function dropdown at the bottom.
  4. Unlock your wallet and press Write button.
  5. In the popup leave all as it is (0 in the Amount field and the suggested gas) and submit.

3. Register to claim native EOS tokens after the sale ends

The steps here are the same as for claiming the tokens except that before going to MyEtherWallet you should generate your EOS keys elsewhere and on MyEtherWallet in p. 3 you should choose register from the dropdown menu.

mew-register.png

  1. As I said, you will need an EOS key generator first. The good news is that @nadejde has one for us. It's a lightweight fork of the eos.io team generator and it works without the need to install the MetaMask browser extension.
  2. Go to MyEtherWallet and click Contracts from the top menu.
  3. Select EOS - Contribution from Select Existing Contract dropdown. The address you've previously sent ETH to will appear. Click Access.
  4. Select register from the Select a function dropdown at the bottom.
  5. Put your PUBLIC EOS key to the key field.
  6. Unlock your wallet and press Write button.
  7. In the popup leave all as it is (0 in the Amount field and the suggested gas) and sign.

To see if your claimed tokens are in your wallet, add the EOS custom token:

  1. Go to MyEtherWallet and click Send Ether & Tokens from the main menu (you won't send anything this time).
  2. Look for Token Balances on the right-hand side of the page.
  3. Click Add Custom Token. For the field named Token address, enter 0x86fa049857e0209aa7d9e616f7eb3b3b78ecfdb0. For Token Symbol enter EOS and for Decimals enter 18. Click Save.
  4. After your claim is procesed, you will see your EOS token balance by choosing `View Wallet Info’ from the main menu.

Finally, don't forget to claim the native tokens after the sale ends.

"Within 48 hours after the end of the final period on June 1, 2018 at 22:59:59 UTC, all EOS Tokens will become fixed (ie. frozen) and will be non-transferrable on the Ethereum blockchain."

Notes

  • Basically these operations aver very simple, but first time they look geeky, so better try with a small amount first and double check everything.
  • I disclaim responsibility for possible mistakes and losses which could happen from the use of this tutorial.
  • This is not an investment advice.

Useful links

There's also a contest on EOS market analysis going on — take part and win some whaleshares! If you don't know what is whaleshares, read this post.

Feel free to share more hints and links about EOS and its ICO in comments!


Image 1 background photo by Billy Huynh


I'm a blogger, web designer, entrepreneur, world citizen and a father to eight. If you've enjoyed this post, be sure to follow me at @vitkolesnik.
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Please bear in mind that this tutorial is already 7 months old and some details have changed in MEW as well as on the EOS website. I am upvoting this comment to give it more visibility.

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If you like this idea, please upvote this comment or try another spin on the wheel so the project can grow!

Thanks for using my service vitkolesnik! Sorry for spinning so late, but I had too much work to do. I spinned different wheel for you as a compensation! :P

Wow 100%, thanks @eirik! :)

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by vitkolesnik from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.

I used your poster with Portuguese translation!

You're welcome!

Hi @viktolesnik thank you very much for the tutorial. I tried it with 0.01 ETH and followed precisely every steps, yet still two days after, the balance shows "0" in my EOS token balance account. Although the ether has been withdrawn from my wallet and I can check on etherscan.io that the transaction was successfully completed. Can you help?

Did you really add custom tokens to your wallet?

Se the section staying with:

"To see if your claimed tokens are in your wallet, add the EOS custom token"

Thanks for your reply @vitkolesnik . Yes I followed precisely the steps in the section, only that I got the message that EOS was already in the predefined list of tokens. So I used the label "MyEOS" just to be sure but that shouldn't change anything. Still, I see a "0" both next to "EOS" and "MyEOS". Is that maybe because my amount of EOS is too small? I just bought for 0.01 ETH in order not to loose too much money if the transaction is lost (which seems to be the case now...)

I don't think the problem is with the ETH amount. Do you have a button called "Load Tokens" at the right? Try it.

Screen Shot 2017-11-28 at 13.08.03.png

Hey, I am experiencing the same issue. Transaction was mined and confirmed after 72 hours buying the EOS, all other steps was followed but no EOS appeared so far in my "token balance". Maybe this delay because the network is super busy? can you confirm if you received your EOS afterwards? Thanks!

I have the same issue. Did anyone get this resolved?

I click the one for "EOS" -- and it displays 0 -- even with 18 decimals.

Does that mean I never got my EOS?

Is it supposed to be instant?

Or will not it show up until June 1? Anyone have any clue?

hey ive just run out of ether to claim all my tokens is it possible to claim any other way?

I guess you would still need some ether for transaction fees.

Thanks for this post. Very cool !!!

You're welcome!

I got a bellyRub and this post has received a 2.45 % upvote from @bellyrub thanks to: @vitkolesnik.

How can I confirm that the registration has worked?

Got that figured out - nevermind.

Newbie question: Do I need to regenerate a new key every time I buy EOS or can I re-use the same one?

My understanding is that one EOS key = one Ethereum account.

I've followed the instructions to 'load custom token' and it comes up with a message saying 'This token is already added as a default token'. Please help!

Really appreciate this walk though! :) Thanks

You're welcome!)

thanks for the guide, what about if you bought EOS from kraken or another exchange, does that mean they are already registered (pretty sure i traded etc for mine)

You still need to register, not not the tokens themselves but your ethereum address where the tokens will be when the sale ends. Check this article, also this and this.

So how About if you live in the states? When i go to the site it says my IP is in the United States so its not available to me.
thnx

Hi, I was able to successfully recalculate my token token with myetherwallet, and supposedly they paid me the corresponding periods, since it was opened until the time I complained .. wait a month and I wanted to re-claim the remaining periods, but I get a sign saying which were already claimed .. I do not understand .. when claiming the EOS gave me ALL that I invested or only until the day of the date? does not end in the year 2018? How do I go complaining every month? It can? thanks

I have eos in my jaxx wallet, how do i convert them to other coin ? It do not let me convert that ?
I got them within my jaxx wallet, by exchange from BTC

Hi, I sent the ETHs to the EOS Crowdsale address 21hrs ago. Period 205 closed. I am claiming my EOS token using the function "ClaimAll" but txs doesnt go through. Already spent almost $10 just in trxs fees.

Ask in EOS telegram, my guess is that's because the Ethereum network is extremely slow nowadays.

It seems claimAll will execute a claim for each period (currently nr. 296). If standard gas needed for one operation is 80k, u will need around 80k*300(24.000.000) to claim via claimAll method. Better find out which contribution period you have bought your EOS and get it via claim [period].

Thanks.

Thanks for the Post i put together a quick video using these steps, How to Buy EOS

I had issues but finally got them resolved, I was doing everything the tutorials say but kept getting out of gas error. My coins finally showed up after I properly - only choose "claim", use 90,000 GAS, and most important which I wasn't doing, PROVIDE THE CORRECT PERIOD in which you purchased your EOS. There are like 300 periods in which you buy in (each period is 23hrs) so almost 1 period/day. I was leaving that field blank causing it to error out everytime. Other than that, thanks guys for all the tutorials and info and claiming EOS!!

Thank you for sharing your experience! I wish buying crypto could be as easy as buying bread but we are still far from that)

Good supject

Anyone new coming to this post should know that depending on when you contributed to the crowdsale, the method of claiming tokens might differ from above. Using the "CLAIM" function in the smart contract will resolve any 'Out of Gas' failures if you are using the "CLAIM ALL" function to retrieve tokens from any contributions made in the distant past. However, you need to know your contribution period in order to use the "CLAIM" method. Only problem is the EOS.io site is closed to US citizens. So, if you contributed to the crowdsale before they closed it to the US, and you don't know your contribution period, you will need to use a VPN to view the page https://eos.io/schedule which you can then input the date of your crowdsale contribution based on the time/date of your Tx as found in Etherscan. Once you have your contribution period #, enter it when prompted when using the "CLAIM" function and you should be set.

Dam missed the boat to get tokens. Where can I buy now or get ESO ? 💯🐒