How to buy Neo – The Complete Buyers Guide
Some of our posts may have affiliate links including this one. That means if you make a purchase I may get a commission (at no extra cost for you). To find out more about it read our Disclosure page
In this guide, we will talk about the different options that are available for those who are interested in buying the cryptocurrency NEO.
If you are intrigued by the potential of NEO and you’d like to purchase some then this is the right guide for you.
I will go through some of the steps for how and where to buy Neo.
I hope this guide covers all you need to purchase Neo with ease.
Where to Buy NEO Options
- Buy Neo with a Credit Card or Debit Card
- Buy Neo with Bank Transfer or Wire Transfer
- Buy Neo at a crypto exchange
- 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.
How 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 cryptocurrencies like Bitcoin, Litecoin, or Ethereum at a cryptocurrency exchange.
But we will walk you through how to buy NEO using a bank transfer, with your credit card or debit card, PayPal, Skrill or Neteller.
Here’s how to Buy With Credit Card Or Debit Card
If you want to buy NEO with your credit card or debit card because it’s so much easier and quicker than any other option then we can recommend a few different options.
How to Buy Neo On Changelly
So when it comes to on how to buy Neo coin on Changelly you can buy it directly with your credit card or debit card! Which is great. As it makes it really easy to buy, and the purchase is more or less instant.
Compared to buying via a bank transfer which might take a day or two!
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 coin 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.
Buy Neo With Bank Transfer Or Wire Transfer (ACH, SEPA, etc)
Similar to so many altcoins, buying NEO using a Fiat accepting exchange is not that easy!
So what we recommend buying NEO with a bank transfer is to first use a Fiat gateway exchange to first buy Bitcoin or Ether like either Coinbase, Kraken or Binance Jersey (latter only for EU citizens).
And then send those BTC/ETH to another exchange that trades Neo and buy it there! Another step but not that hard.
Buy NEO at a cryptocurrency exchange
When it comes to buying altcoins people usually use a crypto exchange to buy them. That means that you first need to buy another cryptocurrency like BTC or ETH. And then with those BTC or ETHs, you can buy TRX.
Here are some good examples of exchanges that trade NEO with good trading volume:
Buying Neo With PayPal
So the steps to buying NEO with PayPal are the following:
- First, you go to either LocalBitcoins to buy Bitcoin, or LocalCryptos to buy Bitcoin or Ether with your PayPal balance
- Then you send those BTC/ETH to a crypto exchange that trades NEO, like Binance
- Then you can buy NEO at Coinbene, BKEX or Bitmart using your BTC/ETH
- Then send your NEO to a good NEO wallet
And Guide To Buying Neo With Skrill And Neteller
You can buy NEO directly from Bitpanda using either Skrill or Neteller.
This is good news for all NEO fans. As Bitpanda is a highly reputable and trusted crypto broker site. Although it is only available for Europeans at this time.
Where to store your NEOs
Finally, by now, you should have a good grasp of the different options you have for buying NEO. After that you should, of course, look into where you can store your new cryptocurrencies somewhere safe.
Neo has its own blockchain so you can, for example, store them on their own Neo-wallets. But you can also store it on hardware wallets. For example, the Ledger works fine for storing it. Find more relevant Neo wallets here.
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.
Find other guides on buying cryptocurrencies
Hello and welcome to Go Cryptowise.
My name is Per Englund and I’m a long-term fan and investor of Bitcoin and other cryptocurrencies. I’ve been around the space for a good few years, learning how it all works and to be a part of this engaging community.
Now it’s time for me to share my experience with others. I am also a business and product developer so I know first-hand what it takes to create a successful product, brand and customer experience.
And I am bringing this vision to my writing and how Go CryptoWise work.
Connect with me on LinkedIn. Ask me anything on here.
Get in touch with me to find out more about Go CryptoWise and what we care about.