How To Short EOS (EOS)

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Shorting EOS is pretty straightforward, all you need is a cryptocurrency trading platform that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.

We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.

Global: Sign up with eToro

USA: Sign up with eToro US

EOS

Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.

It might sound a bit complex but don’t worry, it’s a lot easier than you might think.

How to Short EOS

Shorting EOS can be done in 4 steps:

  1. Find a cryptocurrency exchange
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short EOS

1. Find a crypto trading platform

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other cryptocurrency exchange that allows for short selling.

etoro crypto

2. Sign up with the crypto exchange

Let’s start with creating an account on eToro.

Global: Sign up with eToro

USA: Sign up with eToro US

 

eToro sign up form

The sign-up process is very quick, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your eToro account

Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short EOS

These are the steps to follow to execute a short sell:

  1. Go to the search bar at the top, find EOS by entering the name.
  2. On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  3. At the top of the trading interface: Click on sell to short the crypto.
  4. Enter the amount for which you want to sell EOS and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of EOS has dropped, go to your Portfolio, find the EOS trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short EOS!

Global: Sign up with eToro

USA: Sign up with eToro US

 

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

 

Where to Short EOS (EOS)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.

 

Frequently Asked Questions

Can I short EOS on Binance?

Yes, you can short EOS on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.

About EOS

EOS, or Decentralized Apps (or DApps as it's sometimes called), is a platform designed to enable developers to build decentralized apps.

The project's purpose is quite simple. It aims to make blockchain technology as simple as possible for programmers, and make it easier to use than competitors. Tools and a range educational resources are available to assist developers who wish to create functional apps quickly.

Other priorities include the delivery of greater scalability that other blockchains. Some are limited to a few transactions per minute.

EOS aims to enhance the user and business experience. EOS is a project that aims to increase security and reduce friction for consumers. It also hopes to open up compliance for enterprises.

The blockchain was officially launched in June 2018.

EOS.IO is an operating system that aims at creating familiarity among its users to a certain extent. EOS.IO may be best compared with an operating system such as Windows or iOS. But EOS.IO, on the other hand, is the cryptocurrency which drives the network.

According to the company's claims, the system can support the demand of hundreds (or even thousands) of DApps. This is even if the applications are being used daily by large numbers of people. This efficiency can be achieved by using both parallel execution and modular approaches.

In an unusual twist, token holders have the right to vote for block producer -- and other matters like protocol upgrades.

EOS is not without its faults. Some of its most notable features are also those that some critics do not like. Some people believe that Block.one has been heavily involved with the project and that this makes it more centralized -- and this is not what blockchains/cryptocurrencies were designed to achieve.

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