Quick summary: Our recommendation is to use eToro to short EOS. They have the most popular cryptocurrencies on offer, great support, and have an easy system for shorting cryptocurrencies in general.

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EOS

While there are a lot of options out there for buying EOS, shorting is a different story. Luckily for us here in Australia, we do have a few crypto brokers and exchanges that allow for CFDs and shorting.

One of those brokers is eToro, which we’ll be using for this guide. Let’s get started!

How to Short EOS in Australia

A quick recap first on what shorting actually is: The main objective of shorting or short selling is to make a profit (of course). The idea is to sell a stock/cryptocurrency hoping it will drop in value so you can buy it back later for cheaper, thus creating a net profit.

Shorting EOS can be done in 4 easy steps:

  1. Choose a crypto broker or exchange
  2. Create an account
  3. Fund your account
  4. Short EOS

1. Choose a cryptocurrency trading platform

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other crypto broker to follow along, they all work very similarly.

2. Create an account on the crypto trading platform

Let’s start with just signing up with eToro.

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The sign-up process is very easy, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your eToro account

Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short EOS

Now for the actual shorting:

  • Starting off at the search bar at the top, find EOS by entering the name or symbol.
  • Then on the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  • At the top of the trading interface: Click on sell to short sell the stock.
  • Enter the amount for which you want to sell EOS and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of EOS has dropped, go to your Portfolio, find the EOS trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short EOS!

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Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

Where to Short EOS (EOS)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more complex compared to eToro, they do have more cryptocurrencies on offer.

Frequently Asked Questions

Can I short EOS on Binance?

Yes, you can short EOS on Binance. They have over 300 cryptocurrencies on offer and specialise in the crypto market. They also have a great app and competitive fees.

About EOS

EOS (or Decentralized Apps) is a platform that allows developers to create decentralized applications.

The project's aim is to make it as easy as possible for programmers and developers to embrace blockchain technology. It also aims to make the network more user-friendly than its rivals. To help developers build functional apps quickly, the project provides tools and a variety of educational resources.

Other priorities include offering greater scalability compared to other blockchains. Some can handle less than a dozen transactions every second.

EOS also aims at improving the user experience and business performance. The project strives to make consumers more secure and less friction, but it also seeks to improve compliance and flexibility for businesses.

The blockchain was first launched in June 2018.

EOS.IO can be argued to have the goal of creating familiarity for its users. EOS.IO could be compared to Windows OS or iOS. However, EOS.IO represents the cryptocurrency driving the network.

According to the company it can accommodate hundreds of thousands of DApps even if they were used by large numbers. This efficiency is achieved through parallel execution as well as modular approaches.

Token holders have unique voting rights that allow them to vote on block producers and other issues such as protocol upgrades.

EOS's most distinctive characteristics are often those that certain critics find least appealing. Many people argue that Block.one's involvement in this project makes it more centralized -- which is contrary to what blockchains or cryptocurrencies are meant to accomplish.

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