How to Buy Neo
Neo, formerly called Antshares, is decentralized, open-source blockchain technology. However, the centralized approach that Neo uses is a lot different than the approach that many other cryptocurrencies use.
Neo is similar to Ethereum (hence why it is often referred to as the “Ethereum of China”) in that is uses two different tokens. While Neo may be similar to ETH, there are distinct differences between the two.
Currently, Hitbtc is the only exchange where you can purchase Neo with fiat currency. This token can also be purchased using more widely-accepted cryptocurrencies, which can then be exchanged for fiat.
his token can also be purchased using more widely-accepted cryptocurrencies, which can then be exchanged for fiat.
What is Neo?
Developed in China in 2014 by Da Hongfei and Erik Zhan, Neo was originally known as AntShares. In 2017, it was rebranded and became Neo. A platform that’s an extension of the blockchain, Neo supports its own form of cryptocurrency. It also allows for the creation of digital assets, as well as smart contracts.
The main objective of Neo is to become a decentralized, digital, and distributed platform that can be used to manage non-digital assets. In other words, it will serve as a digital alternative that can be used for the transfer of non-digital assets; for example, paying a car payment using a smart contract that automatically activates when the payment is due instead of using a bank to make payments.
Neo uses smart contracts to automate the management of digital assets. Eventually, Neo intends on creating and launching a distributed smart economy system that is based on the blockchain network.
Like ETH, Neo has two native tokens, and each one has a different function:
- Neo tokens. These tokens signify that you have ownership in Neo’s blockchain Neo tokens are utilized to establish blocks and manage the network. When you have Neo tokens in your wallet, you’ll receive Gas tokens; the second native token of the Neo platform.
- Gas tokens.Gas tokens allow you to use Neo’s blockchain. Similar to Ether on the Ethereum network, Gas tokens are what make transactions possible on the Neo system.
To summarize, Neo tokens are non-divisible and they are what generates Gas tokens. Gas tokes, which are their own distinct asset on the Neo network, can be used to pay for transactions.
Where to Buy Neo
Neo can be purchased on several global exchanges, including:
Why Buy Neo?
There are several reasons why both seasoned crypto investors and new investors alike should consider buying Neo. Some of the most notable reasons to purchase Neo include:
- It offers stability, thanks to the decentralized platform, which means there’s less latency for transactions. Less latency translates to more transactions at a much faster rate; in fact, the Neo platform can process as many as 10,000 transactions per second.
- Neo supports a myriad of programming languages.
- The smart economy Neo offers through its smart contracts, you will have the ability to turn non-digital assets into digital assets. Once your assets are digital, they can remain on the blockchain so you can benefit from decentralization, truthful, and traceable transactions.
- The supply of Neo tokens is limited to just 100 million; 50% of those tokens were bought by initial investors and the remaining half was placed in a smart contract of which 15 million are released per year. In other words, Neo has a lot of value.
How to Sell Neo
To sell Neo, you would need to first open an account on the altcoin exchange and deposit Neo into the account. You can then sell your Neo tokens for other coins that can be sold for fiat, such as BTC or ETH. Next, sell your more widely accepted digital coins for fiat currency, withdraw the money, and deposit it into your bank account.
Which Wallets can I Use for Neo?
- Ledger Nano S
- Neo GUI
- Neo Tracker
- Neo Wallet
- Neo CLI
- O3 Mobile