Will Binance Register My Eos

On June 2, EOS will be transitioning from the Ethereum network to its own mainnet. While this is undoubtedly an exciting time for the project and its supporters, it also means EOS token holders will need to make sure they register their tokens so that they don't lose any holdings.

So, what do you need to do for the EOS June token swap and when? Let's take a closer look.

Learn more Buy EOS

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Why do I need to register my tokens?

The EOS tokens currently in circulation are ERC20 tokens on the Ethereum network. However, once EOS switches over from the Ethereum blockchain to its own mainnet in June, these tokens will be replaced with EOS coins issued on the EOS network.

The current EOS tokens will be frozen on the Ethereum blockchain before the launch of the mainnet. If you keep your EOS tokens in a wallet, then you'll need to register your ETH address (where your current EOS tokens are held) to a public EOS key. The problem is that EOS doesn't allow US residents to participate in the token distribution, so US holders won't be allowed to register their tokens.

If you keep your EOS tokens on an exchange, the process is slightly different. The exchange may support the token swap and handle the process for you. If you hold your EOS tokens on an exchange, it's very important that you check what your exchange plans to do regarding the mainnet launch. Failing to do so may result in the loss of your funds.

Once the mainnet has launched, a snapshot will be taken of the EOS holdings in all registered wallet addresses and used to determine the distribution of new EOS tokens.

When do I need to register by?

EOS holders must register their tokens by June 1, 2018. Within 23 hours of the final token distribution period on June 1, 2018, at 22:59:59 UTC, all EOS tokens will become fixed (ie, frozen) and will become non-transferrable on the Ethereum blockchain.

How do I register?

Because EOS blocks token registration for US residents, there's only one way to register your EOS tokens:

Move your tokens to an exchange that supports the EOS token swap.

Many cryptocurrency exchanges have already announced that they'll support the token swap. If you deposit your tokens into your account with one of those platforms, the exchange will look after the technical requirements of completing the registration. The following are some of the exchanges that have said they will support the swap:

Bitfinex
COBINHOOD
Kraken

Kucoin
OKEx
GOPAX

Non-US residents can hold their EOS tokens in MetaMask, MyEtherWallet or Exodus, but they'll also need to register the wallet address on the eos.io website.

Where to buy EOS

Prepare for the token registration before June 1 to ensure that you don't miss out on the token swap.

At the time of this writing, the author holds IOTA and XLM.

Tim Falk is a freelance writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he's not staring at his computer, you can usually find him exploring the great outdoors.

More guides on Finder

Nifty Gateway Review and Guide
Your complete guide to buying and selling NFTs (non-fungible tokens) on popular marketplace Nifty Gateway
Cargo Guide
Find out what you can do with NFTs on Cargo and how to use the platform in our step-by-step guide.
Plant vs Undead: How to play to earn
Read our in-depth guide to the play-to-earn world of cryptocurrencies with Plant vs Undead. Learn how to plant, buy tools and make money – all while having fun with crypto
How to make NFTs
Find out all you need to create your own NFTs – the new application of blockchain technology that enables digital ownership of assets.
Nexo review: Is it safe for high interest returns?
Nexo is a cryptocurrency lending and borrowing platform that offers high interest rates on cryptocurrencies, stablecoins and fiat. We review the features available and look at how safe your funds would be on the platform.
Axie Infinity (AXS) price, chart, coin profile and news
Axie Infinity is an RPG game that is currently dominating the NFT sector. Discover what Axies are, what makes them unique and how you can earn money simply by playing.
How to buy Bitcoin (BTC) in the US
Want to buy bitcoin but don't know where to start? This comprehensive guide provides step-by-step instructions on how and where to buy BTC in the US.
What is Yearn Finance?
Learn how to use DeFi aggregator Yearn Finance to earn interest on your cryptocurrency.