In this guide, we will talk about the different options that are available for those who are interested in buying the cryptocurrency Neo.
We will walk you through the different options so that you more easily can decide for yourself which option is the best for you. We will also briefly explain what Neo is, how it works and why it might be worth investing in.
The steps for how to buy Neo are not that hard and with this guide, we will make it even easier for you to buy Neo. We will go through all the steps, the different payment methods available and where you can easily buy Neo.
How to buy Neo options
- Buy Neo with Changelly
- Buy Neo with Bank Transfer or Wire Transfer
- Buy Neo with a Credit Card or Debit Card
- Buy Neo with PayPal
- Buy Neo with Skrill and Neteller
If you never knew, it will amaze you to note that Neo has often being referred to as the Ethereum killer or the Chinese Ethereum by some persons. Since most virtual currencies have a reason why they were developed, Neo is not an exception.
What Is Neo?
It is the first decentralized open-source virtual currency and Blockchain platform that made its debut in China. Asides from the NEO crypto, it has yet another Cryptocurrency token that is known as GAS.
Furthermore, the virtual currency takes itself to be a distributed network for the smart economy, and its goal is to speak volumes about the whole smart economy concept.
Some of the uses of Neo includes:
- As a digital asset
Its target is to convert the local assets into virtual assets with the aid of smart contracts. All of these digital assets will then be decentralized and will be secured by law with the aid of virtual certificates on the Blockchain.
- As a digital identity
Another use case of Neo is that it will allow for the development of identity information of people, entries, and organizations that are in electronic form. All of these identities will be utilized via multifactor authentication mechanisms like fingerprints, SMS, etc.
- Smart contract
Initially, the smart contract was birthed by a cryptologist and computer scientist, known as Nick Szabo, far back in the 90s. The smart contract platform that is created by Neo is actually revolutionary.
Note that, if you happen to be a developer that makes use of the C# Java you can begin right about now to encrypt your smart contracts
The universal lightweight virtual machine of Neo has the total advantage of increased concurrency, high certainty, and of course, high scalability for smart contracts.
- Decentralized apps
Bear in mind that Neo will actually support the creation of decentralized applications. This will be done by continually backing up and creating much more mature development equipment and methods.
Furthermore, the two virtual currencies of Neo are the Neo token and GAS token. As for the Neo token, it serves the role of the investment token of the Neo blockchain.
It is known to have a hard capitalization of about one hundred million tokens. And, these tokens will be utilized in the creation of blocks, network switches, network management, and some other consensus demands.
Note that all of the one hundred million tokens have being pre-mined during the genesis block development.
One special thing to bear in mind is that Neo differs from all other virtual currencies because it is indivisible. Its smallest unit is always one.
As for the GAS token, it has a hard cap one hundred million, but it serves as the fuel that ignites the Blockchain of Neo.
Differing from the Neo token, the GAS token is actually divisible by 1/10^8 factor. Also, it was never pre-mined.
Where To Buy Neo
The fact is that purchasing Neo straight up from Fiat currency is quite hard but, you can actually exchange it with some other virtual coins like Bitcoin, Litecoin, or even Ethereum.
This process is quite simple. All that you will need to do is to have:
- A Neo address where you would want to get the Neo tokens
- Some bitcoins or altcoins to actually exchange for Neo
- Then, some of the exchanges that you can get Neo from including CoinBase, Changelly, Binance, CoinMama, etc.
How to Buy Neo On Changelly
By the use of automated trading bits, the service actually sources for the ideal rate on Cryptocurrency trading pairs. It enables users to lock in amazing prices for their investments.
With over eighty altcoins and virtual tokens being available to trade, it is not hard to see why Changelly has a vast customer base of almost seven hundred thousand till now.
An advantage of Changelly is that it offers two-factor authentication as its standard. To buy Neo from this exchange, it involves:
1 ) Opening an account with Changelly
All you have to do is to click on the green sign up button at the top right-hand corner of their homepage.
Simply fill in your email address and click on continue signing up. Also, you can actually create your account via Google, Facebook, or even twitter.
2 ) Deposit some funds
You can provide your virtual currency wallet address wherever you wish to transfer and receive your desired exchanged currency.
The next thing is to select any of your preferred payment methods which can be via debit, credit, or bank transfer.
3 ) Purchasing Neo
You can send Bitcoin into Neo from a particular wallet to yet another. Easily select the Bitcoin to be exchanged on the left, which is to be transferred into Neo, which is on the right-hand side. Then, click on exchange.
After that, check the amount and make sure all of the transfer details are actually correct and easily click on Next. Be specific on the Neo wallet address and click on Next once again.
Go through all of the final details of your conversion and click on confirm and make payments.
How To Buy With Credit Card Or Debit Card
While you can go through Changelly to purchase Neo with your debit or credit card as it already offers the coin to users. All you will have to do is to follow the steps above.
How to Buy Neo With Bank Transfer Or Wire Transfer
Similar to so many altcoins, you can only buy Neo with a bank transfer or wire transfer in Changelly and some other crypto exchanges.
You can go through the process we have highlighted on how to buy Neo on Changelly and purchase Neo via bank transfer or wireless transfer. It is the same process. You can also easily buy some Bitcoins or Ether at a Fiat accepting exchange like CoinBase and then buy Neo at Binance.
How to Buy Neo With PayPal
Just like so many altcoins at the moment, there is no how you can buy Neo virtual currency on PayPal. You can only do this by heading towards CoinBase to purchase Bitcoin, Litecoin, or even Ethereum first.
From there, you can transfer the currency from CoinBase to this exchange of your choice by making use of a special deposit address.
Immediately it is sent, hold on a little while for the currency to get into the account. When it gets there, you will have to select the correct trading pair you want, and it depends on the coin you are purchasing from CoinBase.
It could be BTC/Neo, LTC/Neo, or even Eth/Neo.
And How To Buy Neo With Skrill And Neteller
You can make use of the process above to get Neo on Skrill and Neteller also.
We hope that by now you feel very comfortable knowing how to buy Neo, and what your different options are. If you are still unsure about anything please feel free to leave a comment below
One hundred million GAS tokens will be produced via a decay algorithm is roughly twenty-two years.
The GAS token will further be utilized for resource allocation as well as network charges for works like smart contracts, operating dApps, etc.
Also, the overall circulating supply of Neo is sixty-five million tokens, and the recent price of each of these units is $18.73. The current market capitalization of neo is running at $1.1 billion.
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier