How To Buy NEO Cryptocurrency?
Founded in 2014, NEO (formally known as Antshares) is a blockchain-based ecosystem specifically designed to host smart contracts, ICOs, and decentralized applications. That is why its is dubbed the “Chinese” Ethereum. Neo has an enormous potential in its technology as well as its market value and is backed by some major Chinese companies. Besides, it seems that NEO is somewhat approved by the Chinese government.
NEO was one of the best investments in 2017, as it went from $0.14 up to $76 a piece during that time. It entered the top 10 list of digital currencies by market cap in August, 2017 and by the time of writing this is the eighth largest among cryptocurrencies.
The NEO platform has two different tokens: NEO and NeoGas (GAS). Much like Ethereum, the NEO network charges GAS as a service fee for using the blockchain. It can handle up to 1,000 transactions per second and is optimizable to over 10,000 transactions per second.
How to buy NEO (NEO)
Buy NEO with credit card
If you are yet to enter the world of cruyptocurrencies, you are probably wondering whether you can buy Neo with USD or some local currency via popular payment methods such as credit cards. Unfortunately, right now, there is no easy way to buy NEO with a credit card anywhere in the world. So, you will have to go the roundabout way, which is not all that difficult. Just follow the steps described below:
1. First, you will have to buy some Bitcoin or Ether and we suggest that you do that on Coinbase. This is a major licensed exchange that allows credit card payments (as well as bank wire transfers) and has operations in many countries. Registering on this exchanges takes just a couple of minutes and its fees are comparatively low.
2. After you get your Bitcoins, you have to transfer them to an exchange and convert them to NEO (as Coinbase supports only BTC, ETH and LTC). Converting one coin into another is relatively straightforward and low-cost, so you don’t have to worry. NEO is traded mostly on Bittrex, Binance, UpBit and Bitfinex, but generally a lot of exchanges support it. If you are searching for diversity, Kucoin exchange offers the biggest choice of different trading pairs with NEO.
3. Buy NEO on the exchange of your choice.
Keep in mind that not all exchanges will allow you to claim GAS, and that NEO is not divisible. So even though you might be able to trade NEO in fractions, you will need to withdraw in whole numbers (plus fee).
4. Store your coins in a secure wallet. Once you’ve purchased your NEO coins, we suggest that you withdraw your funds from the exchange. It’s always considered best practice to have full ownership of your coins in a wallet that gives you control over your private keys.
The most logical place to store your NEO coins is the Official NEO Wallet (desktop), which is only available for Windows. If you’d rather use a more flexible option, there is the NEON Wallet (desktop), which has versions for Windows, Mac, and Linux.
There are also some third-party web wallet options, such as NEO Tracker Wallet, where users can send, receive, and store both NEO and GAS without storing any data on the NEO Tracker servers.
Buy NEO directly with fiat (via bank wire)
If you are looking for exchanges where you can directly purchase NEO with traditional currencies, we’ve maid things easy for you. Here is a list of platforms that support NEO and allow users to buy it with fiat currencies. You can purchase NEO directly with USD on the following exchanges:
– Bitfinex: You can deposit US dollars via bank wire (involving 0.1% fee). The problem is, these exchanges do not accept US clients.
– Livecoin: These exchange offers several deposit methods: bank transfer, Perfect Money, OKPay, Payeer and Advcash.
– Quoine: Allows you to use bank wire transfer and supports trading in several crypto-to-fiat pairs NEO/USD, NEO/EUR and NEO/JPY.
– Exrates: It supports trading in NEO/USD, but the deposit/withdrawal methods available are unclear.
You may also purchase NEO with Korean Republic Won (KRW) on UpBit, and Coinnest. On TDAX, you can buy it with Thai baht (THB), on Tidebit – with Hong Kong dollars HKD, and on Cryptomate – with GBP.
Although NEO is very popular in China, we could not find any exchange allowing its customers to buy it with the local currency. This is due to the ICO and CNY-based trading ban that was introduced in the country in 2017.
Trade NEO with a regulated broker
If you don’t need the NEO itself, but to speculate more aggressively on its price movement, you can do that with a forex broker that offers cryptocurrency CFDs, such as eToro. This has its advantages, as you don’t need to open numerous accounts, deal with wallets, private keys, etc. Besides, many of these brokers are regulated, while most exchanges are not. Trading with a regulated entity is a lot safer, as they abide by strict governmental rules and standards.
How to buy Buy NEO cryptocurrecny Conclusion
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