NEO has the ability to carry out millions of transactions every 24 hours with its decentralized ledger pushing financial institutions and businesses to reinvent the way they conduct business. The platform is also compatible with popular programming scripts including C#, Python and Java.
Interesting Facts about NEO Tokens
There are 100 million NEO tokens in total which were pre-mined. Half of them were distributed in investors through initial coin offering (ICO) and the rest are still locked in a smart contract. Every year the development team gets 15 million NEO tokens to fund the project. Unlike many other digital currencies, NEO tokens can’t be subdivided into fractions. For instance, you can only store them in round digits, like 8 NEO coins, 8.4 coins isn’t possible. You may be able to buy 8.4 on change but you won’t be able to send the 0.4. So keep that in mind.
If you are buying and holding NEO coins, you can claim GAS tokens for free which can be used for the blockchain itself. Or you can sell them off on the market and get airdrops. Another interesting aspect of the currency is that NEO coin holders have the voting rights in the ecosystem as if they’re shareholders.
How to Buy NEO Coin
Buying NEO coins is quite a straightforward process fairly similar to how you purchase other cryptocurrencies like Litecoin, BNB, Bitcoin and Ethereum. All you need to do is follow 5 simple steps mentioned below.
Step 1 – Choose Your NEO Exchange
If you are looking to trade NEO then your best option is eToro’s cryptocurrency trading platform. But in keep in mind that it’s a trading exchange where you are basically betting on the price to earn a profit and you can’t get the actual currency. If you aren’t interested in that and want to purchase the currency then some of the top exchanges include Binance, and Bittrex. You can purchase NEO coins here using USDT or another cryptocurrency. Only Bitfinex allows you to buy NEO with fiat currency.
In the event that you want to use your credit card to purchase NEO, Changelly is a good option but with a higher fee. A more affordable way would be to purchase Bitcoin with your card and then use it to buy NEO on Changelly or through your wallet.
Step 2 – Choose Your NEO Wallet
The most secure wallet for any cryptocurrency is a hardware wallet such as Ledger Nano X or S. They allow you to keep your currency safe and always accessible. Ledger Nano S is especially offers a great deal at only $59. You can also get a wallet from the official NEO website which offers desktop, mobile and web versions. There’s also an official NEO GUI wallet which is only compatible with Windows and it’s full node – meaning it will download the entire NEO blockchain on your system.
If you are looking for other software options then Atomic Wallet, Exodus, and NEON wallet offer decent security and set of features. They can also store a large of cryptocurrencies.
Step 3 – Take Precautionary Measures
• It’s highly recommended that you don’t purchase any cryptocurrency until you have followed the below mentioned pointers:
• Use a new email ID to register on the exchange or trading platform
• Always select a strong password that includes a combination of upper and lower case letters, digits, and special characters
• Make sure your PC and other devices are secure and have been thoroughly scanned to get rid of any vulnerabilities
• Use unique and different passwords for your email and exchange account
• Ensure you’ve enabled two factor authentication for additional safety
Step 4 – Buy NEO Coin
If you have chosen your cryptocurrency exchange, wallet, and complied with the precautionary steps, it’s time to buy your NEO coins. Sign into your crypto exchange and head to the marketplace where you will enter the total number of coins you’re looking to buy. Hit the buy button and the exchange will find the best price for you. The coins will show up in your account in a few minutes.
Step 5 – Store NEO to Your Wallet
Once the NEO coins are in your account, you can transfer them to your digital or hardware wallet to keep them accessible and secure.