EOS is a cryptocurrency on the EOS blockchain. It was initially launched in 2018 by block.one, a company based in the Cayman Islands. Developed with the motive to support decentralized operations, EOS does not have a transaction fee. Instead, the protocol uses network bandwidth or RAM to complete the transaction, making it a popular cryptocurrency. 

Moreover, EOS transactions are processed more quickly than in other cryptocurrencies because only one network confirmation is needed. Therefore, it can make a sensible investment. You can easily convert your EOS coins to traditional money using one of the methods discussed below. 

Use EOS Cryptocurrency Exchanges
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Use EOS Cryptocurrency Exchanges

The most common way of exchanging your EOS tokens for fiat currency is by using a cryptocurrency exchange. Just follow the following steps:

  • Create an account on the platform that you have selected. 
  • Next, link your bank account to your exchange account.
  • Transfer your tokens from your crypto wallet to your account.
  • Select the fiat currency you want to exchange your tokens for.
  • The due amount will reflect in your account after the transaction is completed.
Sell EOS to Another Person
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Sell EOS to Another Person

You can also sell your EOS tokens to another person to exchange your tokens for traditional money. Two types of platforms allow you to sell your coins to another person.

The first one is a P2P platform, where people conduct their transactions with each other. No third-party institution is involved in these transactions, so you are free to execute the transaction on your own. The buyer directly contacts the seller, and the deal is carried out. 

Another platform type is a brokerage, an exchange platform where a third-party institution mediates the transactions. A broker is assigned to each transaction and conducts it. The broker makes all decisions, and you must pay the brokerage fees for the services.

Use EOS ATMs
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Use EOS ATMs

EOS ATMs are cryptocurrency ATMs that allow you to buy or sell your EOS coins in exchange for traditional money. These ATMs are similar to regular ATMs. The only difference is that the kiosk accepts and dispenses cash in exchange for your EOS tokens. You can easily find an EOS ATM near you using the ATM map given on their website.  

Using an EOS ATM is very simple. All you need to do is follow these steps:

  • Firstly, the ATM will display a message to enter your mobile number, so enter the mobile number you wish to use.
  • You will get a verification code. Enter the code to start the process.
  • The screen will display the Sell EOS option. Click on it.
  • Send your EOS tokens to your buyer in their crypto wallet.
  • The machine will dispense cash worth your EOS tokens.

FAQs

Can I exchange my EOS coins for traditional money?

Yes, you can exchange your EOS tokens for traditional money without hassles through cryptocurrency exchanges, selling your tokens to another person or an EOS ATM. 

How do I sell my EOS tokens to another person?

Two kinds of platforms allow you to sell your tokens to another person: P2P and brokerage platforms.

Why are EOS transactions processed quickly? 

EOS transfers only need one network confirmation for the approval process, drastically reducing transaction speed. 

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