how to buy neo

Neo, a useful community-driven platform, has become more popular than ever. Due to the growing demand for Neo, many crypto beginners have started asking questions like “how to buy Neo (NEO)” and “where to buy NEO.”

If you want to buy NEO but don’t know where to start, you should read this article from start to finish. We will cover the basic steps of buying NEO, as well as some important topics about the token.

NEO (NEO) Buying Guide

Step 1: Find An Exchange That Supports NEO

To start buying NEO, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support NEO.

Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.

  • 500+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.075%*-0.1%*
  • Sign-up bonus: 10% reduced trading fees*
  • Available in Europe, Asia, Oceania, Africa
  • 1000+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.2%*-0.2%*
  • Sign-up bonus : Up to $500 in USDT vouchers*
  • Available in North America, South America, Europe, Asia, Oceania, Africa
  • 1000+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.2%*-0.2%*
  • 10% reduced trading fees & up to $170 in USDT vouchers*
  • Available in North America, South America, Europe, Asia, Oceania, Africa

Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification. 

You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.

Step 2: Deposit Funds to Your Exchange Account

Before buying a NEO token, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.

Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.

Step 3: How to Buy Neo Officially?

Learning how to buy NEO is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the NEO ticker. You can also look directly for NEO trading pairs to save time. Afterwards, just enter the amount of the NEO tokens that you want to buy.

You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.

Everything You Have to Know About Neo (NEO)

Neo is a decentralized blockchain network that contains all the functionalities and options necessary for DApp (decentralized app) creation. Under Neo’s smart contracts, developers can digitize and automate the flow of their assets. With the help of Neo’s framework, developers don’t have to use external commands or additional third-party software.

The Neo platform also offers many useful functions like decentralized storage, oracle connectivity, and a dedicated domain name service. Recently, Neo has migrated to the Neo N3 system, guaranteeing better features and fairer GAS distribution to all token holders.

Every aspect of development and progression is monitored by the Neo Council. This council consists of NEO holders and council candidates. All NEO holders have the privilege to vote for the council candidate they want. Once the voting over is complete, all chosen candidates will become consensus nodes. These nodes are powerful enough to run transactions in the Neo network, and they ensure that all transactions are smooth.

How Does NEO Work?

The Neo network has a selection of functionalities available to all users and project developers. Some of these functionalities are interoperability, native oracles (for legacy systems), one-block finality, self-sovereign ID, and distributed data solutions.

Once you’re a NEO holder, you’re entitled to receive a specific amount of GAS every month. You can use the GAS to pay for transaction fees, DApps, smart contract deployments, and function privileges within the Neo blockchain network.

The NEO token is primarily used for governance. All NEO holders can vote on Neo platform proposals, projects, and developments. It’s like having a membership pass to an exclusive digital club!

What Makes Neo (NEO) Unique?

The Neo blockchain is unique because of its way of embracing the concept of a smart economy. While other platforms are focused on a few novel functionalities, Neo went all-out and adopted a rather holistic approach of building decentralized apps and integrations. In a way, Neo’s smart economy platform is the better solution framework for any aspiring developer or project builder.

Who Are the Founders of NEO?

The Founders of Neo are Da Hongfei and Erik Zhang. Originally, Hongfei and Zhang built the Neo network under the name Antshares. As the network improved through the years, the founders embraced the Neo brand and had a massive global expansion. Various groups were linked to the Neo network such as COZ, NeoEconoLabs, and O3 Labs.

Now that Neo N3 is underway, many experts believe that Neo will shake the world of DeFi and the NEO token will become more valuable for smart contract deployments and integrations.

What Are the Use Cases of NEO?

NEO has multiple use cases empowered by a dynamic, smart economy. Understanding these use cases will help you determine if NEO is aligned with your risk appetite and preferences.

Here are the use cases of NEO:

  • Speculative trading
  • NEO governance
  • GAS accumulation
  • DApp creation and usage

Who Builds on Neo (NEO)?

The Neo platform is meant for project builders who are looking for deep functionalities for their complicated app ideas. Since the Neo platform is also empowered by the smart economy, service providers can join the network and grow their businesses accordingly.

Official website: https://neo.org/

 Essential Points of the Neo (NEO) Whitepaper

The Neo Whitepaper discussed the working elements of a modern smart economy. Additionally, the paper explored Neo’s key features and smart contract functionalities.

These are the strong points of the Neo (NEO) Whitepaper:

  • The benefits of a smart economy
  • NEO development tools and functions
  • Digital assets creation
  • Digital identity creation
  • NEO tokenomics
  • NEO governance

The Best Cryptocurrency Wallet for NEO

After knowing how to buy NEO, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.

You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.

On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.

What Factors Affect My Choice of Crypto Wallet for NEO?

At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.

Check out the important factors affecting your choice of NEO wallet:

  • Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade NEO right away.
  • Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
  • When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
  • Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
  • Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.

Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors

Now that you already know how to buy NEO, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.

When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.

Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.

If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes. 

General Market Overview for Neo (NEO)

Do you want to learn more about Neo (NEO) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!

Additionally, here are some important topics in our blog:

  • Trading speculation about Neo (NEO)
  • The current market prices of cryptos
  • Detailed price charts with comprehensive histories
  • Whitepaper summaries of cryptos
  • Founder profiles and their related works

Related Posts

Leave a Reply

Your email address will not be published.