How to Buy NEO
Although I have not been in the crypto game all that long, one of the first projects that really caught my interest was NEO. At the time only having access to a small number of coins through my local exchange, I remember at the time thinking and asking myself questions such as ‘where can I buy NEO’, ‘should I buy NEO’ and if so, what would be ‘the best way to buy NEO cryptocurrency’?
Well, before diving into that full throttle, maybe for those of you that don’t know that much about NEO a brief introduction to NEO cryptocurrency is in order.
What is NEO cryptocurrency?
Very briefly then, according to the team, “NEO is an open source project driven by the community. It utilizes blockchain technology and digital identities to digitize assets and automate the management of digital assets using smart contracts. Using a distributed network, it aims to create a “Smart Economy”. NEO was founded in 2014 and open sourced on GitHub in June 2015. Its MainNet was released in October 2016 and has been running in stable capacity for two years. Its vision of a “smart economy” was set up along with he project rebranding in 2017.” (https://neo.org/)
NEO has been around for quite some time, and as you can imagine has quite a strong community watching it into the future. Considering the state of the market as of recent, for those not yet in the know, present bear market prices may in fact be the perfect opportunity to invest in this exciting project so dubbed as the ‘Chinese Ethereum’. Please note, I am not a financial advisor and am not associated with the NEO team in any way shape or form, nor do I accept compensation for promoting the NEO project. The purpose of this article is simply a guide on how one might go about getting themselves some NEO after having done their own research and deciding this may be a project worth investing in.
Personally I believe NEO will be a solid project in the future and think that they will be around for quite some time. NEO seemingly has a strong community and a lot of support. That said, ‘should I buy NEO’ is a question that only you can answer for yourself. I would advise anyone considering buying NEO or any other cryptocurrency for that matter to do a little research by visiting the official sites of the project and looking into not just the price or potential gains, but the possible real world use cases and adoptability behind the NEO project. My personal rule of thumb is to only invest in projects that I think will not only achieve their goals but go above and beyond in an effort to remain competitive and help to shape the future landscape of the entire crypto sphere with advancements in the space that promotes adoption on a greater level.
How to buy the NEO cryptocurrency
In regards to buying some NEO coins, there are a few options. At present, the most popular options available are to buy NEO with USD, buy NEO with credit card, and trade or buy NEO with other cryptocurrencies.
How to Buy NEO with USD
At the present time there seem to be very few exchanges where you can buy NEO with USD. If you really want to purchase NEO with United States Dollars, the best place to buy NEO cryptocurrency would likely coss.io. In order to do this just head on over to coss.io read up a little on what the exchange is about, and if still interested, create an account.
Where to buy NEO coin with credit card
Although I don’t personally use credit cards to purchase cryptocurrencies, at this time it is possible to buy NEO with Visa and Mastercard withCoinSwitch. Even though I have never tried it personally, the process does seem quite easy. First, enter the amount of USD dollar value of NEO you wish to purchase and select the exchange with the best price. Next, follow the prompt and enter your NEO wallet address (please see below for more details). Finally, input your credit card details and wait for the payment to be received and your account to be credited. Once again though, this is something that I have never personally tried and have no experience with. Maybe if someone out there has tried this they could drop a comment below and let us know how it all went. For a more detailed description of this process please see here the official CoinSwitchprocess page here.
How to buy NEO coin by trading with other cryptocurrency coins
If you have some other cryptocurrencies already but are looking to trade these in for some NEO, that is also a possibility. There are quite a few exchanges offering NEO crypto pairings with Bitcoin, Ethereum, USDT (Tether), and a few other currencies. According to https://coinmarketcap.com/currencies/neo/#markets in fact, at present NEO has 162 different pairings on a variety of exchanges. As the market presently exists, the best way to buy NEO cryptocurrency is by far to use other currencies such as Bitcoin, Ethereum, or USDT (USD Tether stable coin). Simply apply for an account, inject some fiat, and trade for NEO against one of the many available options.
So then you might be asking yourself now, what is the best place to buy NEO cryptocurrency if you want to trade amongst other popular cryptocurrency coins? Because of such a vast number of choices regarding where to buy NEO through the exchange of trading other cryptocurrency pairings, for the purpose of this article I will be sticking only to the exchanges that I have used and have had a good experience with. So, In answer to your question where can I buy NEO here is my non-exclusive but personally tailored list that I have used or considered using in the past.
Trade NEO on Binance: Trading pairs include NEO/BTC (Bitcoin), NEO/BNB (Binance Coin), NEO/ETH (Ethereum), NEO/TUSD (True USD stable coin), NEO/USDT (USD Tether stable coin).
Trade NEO on Kucoin: Trading pairs include NEO/XRP (Ripple), NEO/EOS, NEO/DBC (Deep Brain Chain), NEO/DRGN (Dragon Chain), NEO/GAS (NEO GAS), NEO/TKY (The Key), NEO/TNC (Trinity)
Trade NEO on Coss: Trading pairs include NEO/BTC (Bitcoin), NEO/ETH (Ethereum), NEO/USDT (USD tether stable coin), NEO/COSS, NEO/TUSD (True USD), NEO/Ripple, as well as the ability to buy NEO with USD.
Trade NEO on Huobi Global: Trading pairs include NEO/BTC (Bitcoin) and NEO/USDT (USD Tether)
Trade NEO on CoinEx: Trading pairs include NEO/BTC (Bitcoin) and NEO/BCH (Bitcoin Cash)
Trade NEO on Bittrex: Trading pairs include NEO/BTC (Bitcoin), NEO/ETH (Ethereum), and NEO/USDT (USD Tether stable coin)
Trade NEO on OkEx: Trading pairs include NEO/BTC (Bitcoin), NEO/USDT USD Tether), NEO/ETH (Ethereum), and NEO/OKB (official OKex token)
Trade NEO on CoinSwitch: Swap NEO for over 300 other crypto currencies and fiat. This exchange is more of a gateway to swap just about every pairing imaginable utilizing the exchanges listed above and others they are partnered with. Think of it more along the lines of utilizing bookings.com or cheapflights.comwhereby CoinSwitch acts as a 3rd party finding the best real time rate to get into or out of the coins and pairings you choose.
Where to buy NEO cryptocurrency in the future
As with all things in crypto, we are presently living in a continually expanding ever changing space moving more and more towards mass adoption. Over time things should (and I believe will) become much easier in regards to obtaining a variety of cryptocurrencies, including where to buy NEO. One of the most promising projects coming out of the space is the rebranding of the NEON exchange NEX to the compliant crypto decentralized NASH Exchange later this spring. Although not operational at present, pre-registration is available with a few added benefits for those who choose to do so. If your interested in this (and you should be), please see the post I wrote about this earlier here or simply go direct to the website to read about it and register here.
Best place to buy NEO cryptocurrency
To be completely honest, this one is really all boils down to personal choice. Different people will always have differing preferences, exchanges and methods they feel more comfortable with. As I am not based in the United States, I tend not to use US based exchanges. In addition, depending upon what country you are residing in, there is always a chance that the government could force certain exchanges to cease operations in certain jurisdictions. For me personally then, although I have used the majority of exchanges listed above in some degree, my preferences lie with Binance and Kucoin, however for slightly different reasons. In the case of Binance it boils down primarily to safety. Say what you will about CZ or the Binanceexchange, but in terms of liquidity and safety they simply are one of the best exchanges around. Not only is there a lot of volume, but this volume seems at present anyway to be mostly real (i.e. much less wash trading for profits than a lot of other exchanges), but having been a member of Binance exchange for quite some time now, I can honestly say that the few times that they have faced hacks, the Binance team was quick to react and open about the reality of what was going on in every single case. As for Kucoin, although I also think that they are a decent exchange, it is actually with NEO that I use them the most – primarily because they have quite a few projects based on the NEO chain that have direct pairings with NEO. Purchasing NEO on KuCoin and later trading that NEO for Deep Brain Chain, Trinity, The Key, or NEO Gas just makes everything so much easier on Kucoin as it has one of the largest direct trading NEO markets available in the space. Furthermore, although I don’t like leaving any crypto on any exchange for very long, with Binance and Kucoin I often have some open orders sitting just in case the market moves when I’m not around – and from personal experience I have never had issues with either of these getting locked out, being hacked, or getting help via customer support when I have needed it. That’s not to say that this will always be the case, but I am the type of person that tends to put my trust in places that have been earned, and up until this point that trust has been earned, maintained, and never personally led me astray in any way.
How to keep NEO coins safe
Provided now that you have actually managed to buy NEO, whether it be having made a NEO buy with USD, a NEO buy with credit card, or a NEO trade with other cryptocurrencies, I would recommend now taking those NEO coins off whatever exchange you happened to buy them.
In order to do this you will need to generate a NEO address (key) where you can access your coins in the future. It is very important that you take caution with this step as if you make a mistake, its possible that you will lose those coins forever. There are a few options here which I won’t go into in too much detail, but I will add because I think they are worth knowing.
As I mentioned at the beginning of this post, one of the first cryptocurrencies I was interested in was NEO. At that time there were much fewer options available than today, so again, I will limit my suggestions in this post to only things that I have experience with. That does not mean that these are the only options, but from my experience I have found these are the best NEO wallets and the best places to keep my NEO.
Best NEO wallets
Ledger Nano Wallet is a hardware wallet that allows you to store and keep your NEO private keys offline and safe. Always be sure to purchase your Ledger Nano wallet direct and not from a third party via Amazon, Rakuten, E-Bay to ensure greatest security. Find out more information about the Ledger Nano S and the more recent Ledger Nano X here.
The Neon desktop wallet created by the City of Zion team. Although this team is independent of the NEO project, it has been reviewed and given approval as a very secure and easy to use option. In addition, the Neon wallet is fully compatible with the Ledger Nano hardware wallet which adds a secondary level of security. The Neon wallet also recently went through an upgrade and the new user interface is actually quite slick and pretty strait forward and easy to understand. Finally, likely one of the nicest things about this wallet is not only does it allow you to store your NEO coins, but it also allows you to claim NEO Gas and store other cryptocurrencies utilizing the NEO blockchain such as Deep Brain Chain, The Key, and Trinity all under the same address. I strongly suggest that if you have some NEO you check this out and play around a bit, it really is quite great. For the official github download please see here.
The NEO Tracker Wallet is an online light user friendly web wallet that allows both block exploration (much like My Ether Wallet) as well as a safe secure place to interact on the NEO blockchain with your account while not compromising security as you are in control of your own private keys. Although I don’t personally use this for anything more than checking block transactions, it does seem to be popular as a web based user friendly option and remain secure all at the same time.
The 03 Wallet built exclusively to host the NEO and ONTOLOGY has both desktop and mobile versions for both iOS and PC. Again, this is one that I have not got around to testing yet, but it looks very promising as 03 touts itself as the “the first wallet in the NEO/ONT ecosystem that allows users to purchase with popular cryptocurrencies, and very soon, via credit card”. I’ll actually likely be testing this out very soon, but should any of you have had experience with it please do drop some comments below and let us know how you felt about it.
The NEO Gui and NEO Cli as the name suggests are the heavy duty wallets created for NEO. In the case of the NEO GUI, it is the official NEO wallet for PC users and requires a significant amount of space to download and sync to the blockchain. The NEO Cli also created by the NEO team available for Linux, MacOs, and Windows is similar with the exception that instead of the graphical interface as in the Gui, the Cli requires a more advanced level due to the necessity of interacting with command line prompts.
Finally, because of the recent popularity of all in one crypto wallets, there are now a variety of other options available to store your NEO such as the Exodus.io and Ethos Universal Wallet App, both of which I am a fan of not necessarily for NEO, but rather because of the slick interfaces, easy usability, and multiple cryptocurrency asset support.
And just in case your still asking should I buy NEO?
In conclusion, I hope that you found this article useful and were able to glean some information regarding where to buy and what to do with NEO after doing so. Although I am not a financial advisor or associated with the NEO project or team in any way or form, NEO is one of those projects that I will always wish and hope will succeed. In regards to your personal preferences and choices I cannot say. But what I can say is no matter whether you decide to purchase some NEO or not, please do your diligence and delve deep into the project, the team, the future roadmap, the goals, the exchanges, and the wallets before diving head in. Buying NEO, or any cryptocurrency for that matter, is a personal choice and comes like any investment with some financial risk. Although I have tried to be of the utmost service in my thoughts contained within this post, it is your responsibility to understand that all information noted above is simply based upon my thoughts and experiences and by no means any authority beyond that. It is however crypto and if you don’t know by now, good or bad, anything really is possible.
As always then cryptospherians, thanks for dropping by and do trade and store safe until next we have the pleasure again,
Your Trybalist in creative arms, Jimmy D
- Interested in more guides on TRYBE.ONE regarding blockchain and cryptocurrencies? If so, be sure to check out How to Get Bitcoins, Where to Trade Cryptocurrency, Best Places for Trading Bitcoin and Cryptocurrencies, How to Trade Bitcoin: A Not So Brief Overtly Technical Overview, How to Purchase Ripple XRP, How To Buy NEO, How To Buy EOS, Is Cardano a Good Investment? Where to Buy Cardano -Pricepoint? and Is Ethereum a Good Investment?
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Jimmy D is a verified member of CryptoPilots, a community devoted to Quality Content in Crypto. Find me also on TRYBE.ONE, Minds.com, PublishOx, Twitter, Jimmy D Presents Facebook Group, and Murmur (kansaikrypto).