12 January 2019 03: 30 & nbspUTC
January 12, 2019 at 03:30 & nbspUTC
NEO was founded in 2014 as Antshare and changed its name to the current one in 2017. It was promoted as the replacement of Ethereum and that is why it is often nicknamed the Chinese Ethereum. The cryptocurrency NEO has proved its worth over time and has become one of the best investment options.
In this article, we will discuss how to buy the cryptocurrency NEO and from where it is possible to buy it.
Being the first encrypted token of China, it gave NEO an initial boost in the market and its parallel to the complete blockchain ecosystem of the Ethereum network soon led to the top 10 cryptocurrency bracket.
The NEO peaked during the 2017 gold year, where the main cryptocurrencies saw its prices push towards new highs, bringing its capital market to $ 1.45 billion. Currently, it is priced at $ 7.81 with a market capitalization of $ 512 million.
If you are new to the encrypted investment or want to make NEO as an option, then this is the perfect place to get all the information regarding the cryptocurrency NEO.
How to buy NEO: a detailed guide
Buying the cryptocurrency NEO is as easy as buying any other cryptocurrency, if you're new to the cryptographic realm, you do not have to worry, since we've covered you. This guide will try to make you understand every aspect of buying and trading NEO coins, so make sure you follow the guidelines carefully.
You can also read: How to buy NEO coins with your credit card?
NEO has a two-token policy, one is a NEO currency, while another is called NEO-GAS. NEO GAS acts as a sign for the community that is used to meet the needs of the accounting officer. You can pay the transaction fee for using the NEO network using the GAS token.
To understand this better, the main NEO token acts as a non-divisible quota, you can not pay 0.5 NEO tokens because it is a singular entity. While GAS is divisible and can be used to pay any divisible amount. You are encouraged to keep your NEO in your wallet in the GAS token, just like today's banking system where you are paid an interest rate.
The two token policy may initially be confusing, but the whole ecosystem has been maintained in a very sophisticated way and, once you join it, you'll find that it's a great idea. To keep the NEO token, a wallet is needed. This is the first step of the guide
You can also read: Against and pro of the NEO
Step 1: Get a portfolio:
To keep your cryptography, you need a wallet and NEO provides the wallet on its official website itself, the website offers the possibility to download the wallet in three forms
- Desktop wallet: currently available for Windows users only, the GUI wallet can be downloaded to the desktop and used to hold both NEO coins and GAS coins.
- NEO Tracker wallet: Developed by the NEO community, the portfolio is a tracker-based web portfolio, which can be used to hold NEO coins. You can integrate it with a third-party wallet to keep track of your encryption.
- NEO mobile wallet: the official mobile wallet developed by PeterLinX can be downloaded from the main website, however, it is only available for Android users.
In addition to the official portfolios, users can also download reliable third-party portfolios as the current list of official portfolios is not available for all platforms.
Also, remember that hardware portfolios or offline portfolios are considered more secure than any other module.
Users must be aware of potential scams, like many portfolios in the past, ie, neopaperwallet (.org) and myneowallet (.io) was discovered as a scam.
You can also read: will NEO be a good investment in 2019?
Step 2: Find the correct exchange
Once you decide which portfolio you want to use, the next decision to be taken is the one relating to the exchange you will use for trading.
Since NEO is one of the best known cryptocurrencies, the main exchanges provide support to negotiate your NEO against various entities such as Fiat, US dollars and other cryptocurrencies. Below is the list of some of the best trades that you can select in order to exchange your NEO currency.
Step 3: withdrawal of funds
It is highly advisable to cash out the funds and store in a cold wallet (hardware portfolio) as the exchanges are subject to attacks. Once you have purchased the NEO against a fiat or other encryption, make sure you get it from an exchange and keep it safe in your wallet.
The greatest risk of attackers comes in the form of private key theft, where attackers enter into exchanges and steal your private key and then take away all your crypts-riches.
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