|Circulating Supply||100,000,000 NEO|
|Max Supply||100,000,000 NEO|
If you are looking for a new cryptocurrency to invest in, you might just find that the NEO is one worth looking at. Containing a market cap (as of writing) of $6,117,566,000 and with a daily trade volume of more than $200 million, this coin is currently ranked as the eighth strongest on the many cryptocurrency exchanges.
Currently worth $93.55 and with a high that reached $188 back in December 2017, this is a currency that has really grown in value since its launch in 2014. Back then and only up until as recently as June 2017, NEO was actually called Antshares (ANS).
What is The NEO Coin (NEO)
NEO is the name of both the opensource blockchain protocol and also the cryptocurrency and was actually the first to be developed in China. Likened to Ethereum, NEO makes use of Smart Contracts and thus allows users to make smart transactions.
The core aim of NEO is to become the root chain mainstream applications make use of. Through the implementation of Smart Contracts, this decentralized payment system that has no central authority has given itself as much chance as any other coin of doing so.
Whats Special About NEO (NEO)
NEO has a number of advantages over other coins but these are the ones that we feel are special and why you should think about investing in the cryptocurrency.
- Backed by China Government – There is little chance of this company going out of business as long as it is supported by the Chinese government.
- Big Names as Private Backers – Microsoft and Alibaba are just two big names that have admitted to supporting NEO in the past.
- Can be Used on Other BlockChains – NEO has developed and patented its own cross chain technology. This allows NEO to be able to use a number of the other blockchains that have been developed by other leading cryptocurrencies.
- Simple to Use – NEO has simplified the process of writing contracts via Smart Contracts 2.0. So much so that no knowledge of programming is required to do so.
Where to Buy NEO (NEO)
NEO is one of the more popular coins on the exchanges with many strongly believing in what they are trying to achieve. If you are one of those and would like to invest in this cryptocurrency, you are going to need to find a cryptocurrency exchange that will allow you to do so.
Below we have listed five that you can use to get your hands on NEO:
Binance is easily one of the most popular cryptocurrency exchanges around as it offers great anonymity without the need to verify your identity. Many other currencies can be traded here too.
Gate.io is well-liked due to the wide variety of coins that they support the trading of and also the fact that deposits can be done through the use of credit card.
Jubi is a China-based exchange that is popular due to the very low fees that it charges for each transaction. There is also no need for verification unless you are going to be using the CNY fiat currency for trading.
With competitive fees and literally hundreds of trading pairs, New Zealand based Cryptopia is another excellent choice if you want to buy or trade NEO.
Bitfinex also provides traders with the ability to work with their NEO as well as a number of other popular cryptocurrencies. No credit cards can be used here though.
Investing in NEO (NEO)
NEO has cemented itself among the ten most traded cryptocurrencies and is hugely popular in China and across the Asia region. When you consider that China has the largest cryptocurrency market right now, this can only be good news for the stability of this coin.
As previously mentioned, NEO is a coin that is very similar to that of ETH which is the second most traded coin on the exchanges. The question you have to ask yourself is, will it be able to offer anything that ETH cannot offer in the future. Where is the development going to take this cryptocurrency?
Do I Need a NEO Wallet
We have to remember that the cryptocurrency industry is pretty much unregulated and is, therefore, a risky place to be. This means that you need to be extremely vigilant and make sure that you make use of as much security as possible when it comes to your portfolio of cryptocurrencies.
Hackings at cryptocurrency exchanges are seemingly regular occurrences with there being more than 15 hackings in the past. The last thing you want to do is lose your portfolio of cryptocurrencies, so leaving them on these exchanges for too long is never a good idea.
What you should be doing instead, is using third-party wallets to store your holdings. These wallets come in various types with everything from hardware-based wallets, online wallets, wallet clients and paper wallets.
Below are a few suggestions of wallets that you can use to store your NEO:
- Hardware Wallets
If you can find a hardware wallet that supports the cryptocurrencies that you are holding, these are your best bet when it comes to security. This is because you are not going to be storing your portfolio online or even on your computer, they will be in a sort of USB stick along with the private and public keys that come with them.
Ledger Nano S
The Ledger Nano S is the number one wallet around and is our favourite choice when it comes to storing our cryptocurrencies. All of your cryptocurrencies are stored on this device along with their private and public keys. This means that you pretty much physically hold your currencies as they are not kept online or even on your computer.
- Software Wallets
If you wanted to go down the software route or cannot find a hardware wallet that supports all your currencies, you can instead opt for wallets such as the ones we have listed below. These are certainly a better option than leaving your currencies in the wallets at online exchanges and some them offer up some good security features as well.
This is a light wallet that allows users t store both NEO and GAS and the best thing about this option is that your private keys are not stored on the NEON servers. This means that even if they were hacked, your currencies are perfectly safe.
This is the official wallet for both NEO and GAS (both currencies are developed by the same people) and it works offline. This means that your keys are never uploaded to the NEO server which gives you added peace of mind.
This wallet is for desktop users only and the downloadable client and was developed by those behind NEO. It is very simple and basic but it does allow you to keep your cryptocurrencies locally on any PC that has Windows 7 or above installed.
Pros & Cons
NEO certainly has a lot going for it, especially the collaborations that it has. The Chinese government has backed it while a number of huge companies are said to be backers. Furthermore, its focus on Smart Contracts is a big bonus as this is one of the most positive developments in cryptocurrencies in recent years.
A big worry with many is that the success of this currency, while supported by the Chinese government at the moment, will depend on the stance that the government takes with regards to cryptocurrencies.
- Hugely popular in China
- Impressive corporate and governmental collaborations
- Solid Smart Contracts development
- Can it do anything that most other cryptocurrencies cannot?
- Success dependant on government