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RE: How To Buy and Secure Your EOS
Yay, following your instructions I've just bought my first EOS tokens on Binance. Feels great!
Now what I've still not perfectly understood is the difference between ERC20 EOS tokens and EOS tokens. On Binance they were just called EOS tokens, but what I got from your article is that the real coins are available, once the EOS.io blockchain is launched (on the 1st of June).
Now is this kind of a pre-sale, and these ERC20 EOS tokens will be exchanged into regular EOS tokens then?
Sorry for asking such stupid newbie questions here :-)
Hurray! Congrats. :)
Nah, that's not a stupid question at all. That's exactly right that the "real" EOS tokens on the EOSIO chain won't exist until the EOSIO chain launches (which, when we say it that way, explains things a little better. Can't have coins on a chain until the chain itself exists.)
Right now, "EOS" is just represented as an ERC20 token called "EOS." In the future, those will be replaced with the real EOS token. Binance has already announced they will support that conversion for their users on June 1st. The tricky thing is, there may be multiple EOS blockchains at the launch. If Binance doesn't support all of them, some people might lose out. As always, rule number 1 applies: If you don't control your own private key, you don't own the cryptocurrency. Also, if you don't control the token you may miss out on airdrops such as what eosDAC is doing.
Thanks for getting back in detail, Luke!
I'm doing some research now in order to find the best way to register my tokens. I also transfered them to myetherwallet.com holding the key for them, according to your suggestion :-)
Exciting! hehe
Excellent!
As far as registering your EOS tokens for the June 1st conversion, this post can help, though I haven't done it myself yet. I used a different method earlier, but will probably do this instead as I like running official code from EOSIO (the other method was a forked bit of code).
I imagine there will be many easier official tools once we get closer to the launch date.