I have som questions regarding EOS and I hope it's okay to post them here.
I just bought some EOS on Kraken without really knowing what I was buying into and I was hoping maybe someone could explain a few things to me. I know it's stupid to invest in something I don't understand but after selling my Bitcoin Cash that I got after the fork I felt a bit adventurous =) I'm new to cryptocurrencies and blockchain technology so please excuse my lack of knowledge.
What I don't understand is, what will happen to the EOS I bought after June 2018? Should I get a real Ethereum wallet instead of keeping them in my Kraken Exchange account before June 2018? Can I still trade my EOS after this date or what will happen?
/Kcfrau
Hi, thanks so much for the comment and I would be happy to help you out and answer your questions!
This was the thing to be adventurous towards, first off, so congratulations. You are exactly right with your gut feeling that you should secure your EOS on an ethereum wallet. I would reccomend strongly (depending on how much you invested), to purchase either a Trezor or S nano ledger, which both support EOS using its ethereum wallet (assuming you have the latest firmware).
Also, McAfee dude said correctly that only a hardware wallet is secure, and I have been saying that since I bought my first generation Trezor! I hope this resolved your questions!
Yes I plan on getting a real wallet. But what will happen to my EOS after June 1, 2018? I understand from EIS.io that something will happen, but since I'm new to cryptos I don't understand what that means for me as an Investor. What will happen to the EOS that I keep in my wallet? What would happen if I still kept them in an Exchange account?
After that date, it will increase in price, and nothing changes with the coin for you the investor. Just be sure to posses the hardware wallet with them on it :P.
Are you sure? From what I've been able to understand they will later turn into a different kind of token on a separate blockchain that is independent from the ethereum blockchain. Why would it automatically increase in value? How would you know that?
The new token will be based on the distributions of the initial tokens, so when you convert later, it would be the same as what everyone else would be doing, but I predict that you will see an eos at 25 dollars, 50 dollars, 100 dollars, 200 dollars, 400 dollars then 800 and beyond.
Either way, all those aforementioned numbers are above $1.80.
Am I sure, no way lol. No one is sure of anything, but I am sure enough to put my money into it. And I put my money into bitcoin back in 2011, so perhaps I feel like I know more than I do, but I have a good sense.
Okay, now I understand more. Thanks for the information. Will my current tokens be converted to the new token even if I keep them in my Kraken account, or does that only happen as long as I keep them in a real ethereum wallet?