Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with EOS.
No securities regulatory authority has expressed an opinion about EOS, including an opinion that EOS itself is not a security and/or derivative.
Token Description & Project Background
Eos is a Layer-1 delegated Proof-of-Stake blockchain.
It was designed to be a more developer-friendly, scalable, efficient, and cheaper alternative to the Ethereum blockchain. Like Ethereum, it is a smart contract platform with the ability to power decentralized applications (dApps).
Eos has positioned itself as a developer-friendly blockchain with a web toolkit and built-in functions such as role-based permissioning, and aims to handle millions of transactions per second.
EOS is the blockchain’s native utility token, and can be used for on-chain transactions and governance.
Eos was founded in 2017 by Dan Larimer and Brenden Blumer.
The Eos Network Foundation oversees the continued growth and development of the Eos ecosystem.
Risks of EOS
Like an investment in other crypto assets, there are some general risks to investing in EOS. These include: (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to thestatement.
In addition to these general risks, an investment in EOS is subject to the following specific risks:
- The Layer-1 space is intensely competitive. Several blockchains have positioned themselves as so-called ‘Ethereum killers’, and boast lightning-fast transaction speeds, full decentralization, and low fees. Any potential success associated with the EOS token will depend on the Eos blockchain’s rate of adoption by developers and projects alike.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with EOS . Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.
The EOS community and Eos Network Foundation are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of EOS have no recourse to the Eos Network Foundation, EOS community, or Uphold if EOS declines in value for any reason.
Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.
Uphold’s Evaluation Process
Prior to listing EOS on the Uphold Platform, Uphold performed due diligence on EOS and determined that EOS is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following:
- The creation, governance, usage, and design of EOS, including ensuring the source code being open-source, audited and peer reviewed, security, and roadmap for growth in the developer community.
- The supply, demand, maturity, utility, and liquidity of EOS.
- Marketing materials put forward by the EOS social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with EOS including any code defects, security breaches and other threats concerning EOSand its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
- Legal and regulatory risks associated with EOS, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of EOS.
Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.
Uphold users should read thestatement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.
Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following. Please also review the for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and statement.
Last updated on June 5, 2023.
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