Buying NEO

(Last Updated On: April 27, 2019)

Neo is China’s first open source blockchain based cryptocurrency, founded in 2014 and until 2017 it became a successor with a market capitalization value of more than 1.5 billion dollars which means the people who invested in 2014 got a profit of 21000% in returns of investments.

The idea is to make smart economy by digital identity systems and utilizing blockchain for more safer purposes means  Smart Economy is to merge digital assets, a digital identity, and smart contracts into one.

There are two tokens NEO and NeoGas (GAS), GAS is mainly used for transaction fee for NEO just like Ethereum.

Creating a Wallet

The first step for buying any cryptocurrency is choosing a legitimate and easy to use wallet, for NEO there are many options available.

The first Wallet is NEO-GUI wallet which is a desktop-based wallet which can send, receive and store NEO tokens but is only available for Windows.

There is an official NEO-CLI (command line interface) wallet also available cross-platform but hard to use for newbies and is mainly available for developers.

The NEO Wallet is probably the best choice for every user because it is easy to use lightweight, simple interface and safe wallet, it is developed by a third party but is secure as logins are made through private keys.

When it comes to Web wallets there are also a number of options including tracker wallets also,

The NEO Tracker Wallet is a web-based wallet and completely open source and easy to use offering options to send, receive and store neo tokens without giving any hold of data to tracker servers just like blockchain.

https://neotracker.io/wallet

The NEO Wallet is another great option for sending, receiving and storing neo tokens online, the wallet is easy to use and can also claim GAS charges for users.

https://neowallet.cn/

However, there is also an official Mobile Based Wallet app for NEO it is also said to be easy to use and is developed by a third party but is only available for Android only, there is also a NEO Paper wallet Developed by Ansy,

https://snowypowers.github.io/ansy/

Any other wallets apart from the wallets list are likely to be scam and users should not trust any other third parties except for the ones told here or on official NEO website.

Buying NEO on Exchange

As NEO is not that old project if compared to bitcoin, users aren’t able to buy it directly with Credit cards or fiat currencies including banks etc but there are a number of legitimate and full-time exchanges that are providing NEO in exchange for other cryptocurrencies.

There is an NEO trading Platform available on eToro which also provides a number of deposits options including credit cards, PayPal, Skrill etc but most of the users are confused now because eToro is not for buying it is a social platform for E-Trading and coins cannot be withdrawn but only bought and sold for USD or Euro’s fiat.

So if you plan to buy NEO and store it with you it can be bought from,

  • HitBTC
  • Binance
  • Bitfinex
  • Bittrex
  • Kraken
  • Cryptopia

All these options are legitimate when it comes to safety and volumes.

Conclusion

In the end, we advise all of the users to always move their coins from exchanges to safe wallets if better then hardware wallets, as NEO is growing its reputation and building its value through smart economy concepts and other algorithms it has gained its peak in price it was the best investment in 2017 as it went from $0.14 to $22 which is overwhelming for investors as they have got 21000% returns from 2014 to 2017 and as of now one token of NEO is worth $59.02 for buying.

NEO maybe a good currency to invest on as it is gaining and increasing value and maybe more profitable in future for current investors.


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