Can I Send My EOS I Bought on an Exchange To My Ethereum Address Which is Registered To EOS? [INFOGRAPHIC]
Many people are asking this exact question and after searching the internet for several days, I couldn’t find the answer. So a trip into the EOS Telegram room, and several people helped me. Thanks Fuzzy!
This infographic is based on the answers I received plus a fantastic EOS guide on Steemit that was written by @sandwich: https://steemit.com/eos/@sandwich/contributing-to-eos-token-sale-with-myetherwallet-and-contract-inner-workings
This guide was the best out there as far as explaining how the EOS public key mapping works, and the deadline to do that is June 3, 2018.
There’s a lot of confusion surrounding the public key mapping of the EOS tokens, and rightly so. Most people don’t understand what is going on. After spending several full days unraveling this stuff, I think I know how to explain it in a clear way. This mostly applies to people using MyEtherWallet. EOS has setup their own method which is easy to use with Chrome and MetaMask. However, not everyone uses Chrome, so there is a need for people to figure out the steps associated with MyEtherWallet.
Here goes:
The EOS blockchain is not alive yet, but it will be after June 2018 (that’s the target date). These new EOS tokens will have specific functionalities, and these will only be live on the EOS blockchain in the future. In order to get these new EOS blockchain tokens that will exist in the future, you need to register your Ethereum wallet address with a public key to EOS. So all the EOS you own now will need to be in that same Ethereum wallet that you registered with EOS.
Think of it this way:
Your Ethereum wallet that holds your EOS tokens is like a house, with an address. You put your EOS tokens inside this house. But the future EOS blockchain has no idea where this house is. You must register your Ethereum wallet address with EOS so that you can get your new EOS tokens that reside on the future EOS blockchain.
When the snapshot of all EOS token ownership is taken in the future, your Ethereum wallet that holds EOS will be included in this snapshot as long as you registered it. When this snapshot is taken, you will be able to claim the real live EOS blockchain tokens. But only those who registered their tokens with EOS will be given these new EOS blockchain tokens.
So, a page has been set up in order to generate your public-private key pair for the future EOS blockchain. The person who created it states:
This will generate a private and public key pair for the EOS chain. The code is not mine. It is forked from the code the EOS team built. The difference is that this works in any browser without the web3 dependency. It will work in any browser and you don’t need any plugins. I’ve also removed everything else except the key generation bits.
Go here to generate your public-private key pair for EOS: https://nadejde.github.io/eos-token-sale/
Personally, If I were running EOS, I’d set up a technical helpline on the days before the snapshot, because I bet there will be a significant number of people who don’t understand what needs to happen and why. This stuff is pretty complicated because we are talking about future events, new technology that barely anyone understands and snapshots of a blockchain that doesn’t currently exist.
I’m looking forward to what EOS creates since creating smart contracts on Ethereum can be a costly endeavor that occurs accidentally. A friend of mine bought $35 worth of EOS through the crowdsale and ended up accidentally spending $12 in ETH gas fees in the process. The ETH gas fee was set automatically too high and my friend didn’t know she could manually adjust this amount.
Follow the official EOS blog on Steemit: https://steemit.com/@eosio
Hey, if you haven't submitted your video for my Steemfest2 Giveaway, do it today!
Cheers,
Stellabelle
So what happens if one accidentally generates two EOS public keys for the same ETH wallet, but performs the ICO ETH transfer before the second key was generated? Which key will be valid in the end? Both? The one before the transfer? The latest one (regardless of how many keys are generated)?
i don't know how to answer.....
The public EOS key which will be valid is the one that you would have linked (i.e. mapped) to your Ethereum wallet. You can only link one EOS public key to another Ethereum public key I believe. Here's an article how to do just that. It was created for the Exodus wallet, but you could follow most of the steps in detail and replace the Exodus related items with the wallet you're using and the method you normally use to open your MyEthereumWallet: http://support.exodus.io/knowledge_base/topics/ive-received-eos-tokens-in-exodus-how-do-i-register-them
but I don't understand where I need to register the EOS address that I just generated with your link @stellabelle.
I bought some EOS tokens on Kraken but without even fully understanding what I have done.
Where do I do what you are (thankfully) warning me I need to do?
I'm going to try googling but if you have the easy answer...
And yes, I use chrome.
Importante que compartas esta interesante información con toda la comunidad, tienes muy buenos conocimientos respecto al tema la felicito sigue así @stellabelle
does somebody know if it will be enough to hold Eos in Exodus wallet?
Hi, I recently registered some eos from the exodus wallet.
@stellabelle is correct, however you do not have to actually have a myetherwallet to complete the registration process.
Here is the step by step procedure from the Exodus website. It's a bit long and of course a little nerve racking but i managed to complete the process. You can also verify that your tokens are registered successfully with the final steps.
http://support.exodus.io/knowledge_base/topics/ive-received-eos-tokens-in-exodus-how-do-i-register-them
Good luck!
Thanks. I'm also using Exodus!
thank you @v4vapid this step by step guide should solve my problem and it seems I can keep my eos in Exodus
oh, great that this was brought up, because I didn't know that!
you could keep them in the Exodus wallet and map the Ethereum public key of your wallet to your EOS public key. However, leaving your crypto coins on any wallet other than a cold wallet is very risky. If I were you, I would buy a cold wallet such as Trezor and move the EOS (and any other supported tokens) to it. Trezor supports MyEthereumWallet, so you would simply send your EOS from your Exodus wallet to one of your new Ethereum public addresses that your Trezor wallet will generate. Just remember that if you had previously mapped the EOS tokens that were in your Exodus wallet to the Ethereum address linked to that wallet, you would need to repeat that process after you move them to your MyEthereumWallet which your Trezor wallet would hold the private keys for. If you don't do that, all purchased EOS tokens would still be mapped in that case to your old Exodus wallet and not your new MyEthereumWallet (which Trezor unlocks since the private key of that wallet would be stored on your Trezor device in that case). In other words, your purchased EOS would be mapped to an Ethereum public address that would be pretty much empty in that case, since you have moved your EOS tokens to a new Ethereum address.
oh wow, thanks, as I didn't know that! Thank you.
Looks like @v4vapid has the answers below:
Nice content as always :) @africa for news about cryptocurrencies (beyond bitcoin)
Good explanation. We are more and more mixing now and future.
Thanks. This was helpful.
EOS is in route to $2500.00 USD after ICO
Very very interesting Summer 2018 will be a crazy year
I didn't realise how good the price of EOS is at the moment. $1.66 is pretty good. I don't think it will drop even further and if anything the price of altcoins are going to go up as this rubber band effect happens with all this new money invested into the markets. It seems like the price of bitcoin is already decreasing a little.
I'll be sure to put my EOS into an Ethereum wallet to get the new EOS blockchain tokens. I guess people should just keep their EOS in a wallet rather than exchange as the time nears.
Sad to hear your friend lost quite a substantial amount of money due to gas fees. I wish it was more clear so people don't make mistakes and in the process lose some money.
Thank you @stellabelle for letting us know about all this information which will most likely save some peoples cash haha