Neo (NEO) | The Chinese Ethereum

Neo (NEO) | The Chinese Ethereum

By NassiroV | CryptoPlanet360 | 25 Jan 2020


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Neo: Overview

Neo is a decentralized system launched in 2014 by a Chinese company and which enables peer-to-peer financial transactions. Originally called AntShares, its name changed in 2017. Its primary purpose is to develop on the Chinese market, which is difficult for Western companies to penetrate. The Neo network works with two tokens: the NEO and the GAS. NEO tokens are used for blockchain votes while GAS is used to settle transaction fees.

How does the Neo system work?

In its operations, Neo is similar to Ethereum. In the world of cryptocurrencies Neo is often presented as the Chinese Ethereum. Its process is based on a smart contract system but offers greater reliability than its competitor. It is the first free Chinese blockchain protocol.

The creators of NEO focus their long-term development on the "Smart Economy" which is based on a desire to bring together the traditional economy and the digital economy. This economy is completely decentralized and accessible to all.

How to get NEO tokens?

NEO currency is not available for direct purchase, unlike Bitcoin or Ethereum. To obtain them, you will have to proceed in two stages: you will first have to acquire BTC or ETH tokens then, via a dedicated platform, convert them into NEO tokens.

CEX.IO allows for the buying of bitcoin and other cryptocurrencies for low fees via credit card, Debit card. Customers can also purchase for free (no fees) with bank transfers. The best thing about Cex is that it supports fiat currencies like USD and EUR which means you can withdraw your money and deposit it directly to your bank account without the need of a third party. In conclusion, Cex allows you to trade Cryptos, deposit funds from your bank account and also withdraw your funds to your bank account, it is an All-in-one exchange.

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Hi, and welcome to my blogs :)! ​I’m Nassir, a thirty-something guy who loves to travel and write, especially about Crypto and Blockchain. I have been blogging and trading cryptocurrencies for a while. I hope that you find my articles beneficial to you.


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