How to buy NEO – Complete guide
NEO is an exciting development in the global cryptocurrency industry. It is one of the most exciting platforms to come out of Asia, where cryptocurrencies have been warmly embraced in some quarters. NEO was developed by a Chinese-based blockchain firm, OnChain, as an iteration of Ethereum’s smart contracts. The creation of a unique Blockchain algorithm makes smart contracts on the NEO blockchain more secure against cyber-attacks than Ether contracts.
With OnChain’s bold, far-reaching plans to implement NEO as the first global universal Blockchain framework, designed for us across private and public chains, NEO’s smart contracts are likely to have a bright future in the years to come.
Why buy NEO now?
Innovation in the FinTech sector from the Far East is occurring at an impressive rate of knots. China is home to one of the fastest-growing FinTech markets on the planet. The country is investing significant amounts into blockchain technology in particular, which will help to take the security and flexibility of the cryptocurrency space to the next level too. NEO has emerged as a credible contender to Ethereum in China, with few in the Far East adopting Ethereum due to its Western roots.
For those wondering “why buy NEO right now?”, the global financial backing offered by the NEO platform should almost certainly prick your ears up. With investment coming from all four corners of the globe, including America, it is clear that the blockchain industry believes firmly in the future of NEO.
Software developers are also increasingly excited by the prospect of the NEO platform, given its support for wide-ranging programming languages. That’s unlike Ethereum, which requires its software developers to learn and perfect its own programming language and environment. Ultimately, when you consider that one of the world’s leading superpowers in the shape of the Chinese government is firmly behind the long-term success of NEO, it makes perfect sense to invest in NEO coin for the future.
In October 2018, the price of NEO stood at around $18 per NEO coin. That is markedly lower than its all-time high of $198 at the turn of 2018. Throughout the summer of 2018, there were market signs that the price of NEO had bottomed out. This was a great opportunity for cryptocurrency newcomers to get involved in a platform that could have significant global appeal.
What is the best site to buy NEO?
If you feel that now is the right time to start buying NEO coin, you’ll be pleased to hear we recently carried out comprehensive research into where to buy NEO coin. We’ve established the top three options, based on their services, reliability and the clarity of their user interface. Read through our comparison table below for a clear understanding of the pros and cons of the best exchanges to buy NEO and the leading brokers:
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A comparison of the top three brokers
eToro is one of the most fascinating platforms to use for buying and selling NEO coin, as well as other stocks and commodities. Those who choose to purchase NEO coin via an eToro account won’t physically acquire NEO tokens and have to store it in a cryptocurrency wallet. eToro is a contracts for difference (CFD) broker. Consequently, traders place ‘buy’ and ‘sell’ orders on the price of NEO if they believe the value of the asset will rise (buy) or fall (sell). Traders take their profit in the difference between their opening and closing orders. Read our eToro set-up guide for more information.
24option is another attractive platform for those intrigued by the concept of CFD crypto trading. It offers a plethora of CFD markets to trade in all manner of cryptocurrencies, as well as stocks and commodities. However, it is an unregulated CFD platform, which may pose an issue for some risk-averse investors, particularly given that eToro is regulated by the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). You can see our guide on 24option for more advice.
Finally, Binance is arguably one of the best exchanges to buy NEO coin. You can buy and sell your NEO coin for almost any other cryptocurrency, as well as other fiat currencies. The only issue with using Binance or any other cryptocurrency exchange is that it requires you to set up and secure a cryptocurrency wallet to physically store your digital assets. For more information, see our guide to Binance.
Our expert opinion: Invest using eToro due to the following reasons
- Join the eToro CryptoFund to copy cryptocurrency trading strategies from those with profitable long-term investment portfolios. Read our eToro review to find out more about the CryptoFund.
- eToro remains the sole CFD cryptocurrency broker to be regulated by both the FCA and CySEC, providing genuine peace of mind for crypto traders.
- A growing network of more than six million users worldwide.
- Trade the price action of NEO coin and other emerging altcoins without the need for a cryptocurrency wallet.
Looking to buy NEO coin? Payment methods
Credit card & debit card
It is more common than ever to buy NEO coin using a credit card. Platforms such as CEX.IO and Changelly are the most common for accepting credit card payments for buying NEO. The latter accepts debit card payments too. eToro is another platform that accepts debit and credit card deposits for buying and selling the price of NEO, with deposits up to $20,000 permitted.
Currently, no cryptocurrency exchange permits the use of PayPal e-wallets to buy NEO coin online. If you are wondering where you can buy NEO using a PayPal account, sign up to eToro, which accepts PayPal deposits into eToro trading accounts.
How to buy NEO in your country
If you want to find the best exchange to buy NEO in your country, it will ultimately depend on your country’s approach towards digital assets. Some nations have already prohibited the use of cryptocurrencies in all aspects, while others have warmly embraced them as a legitimate payment method for goods and services. The UK government has dipped its tows into the cryptocurrency water but many nations still avoid becoming involved with digital currencies.
How to store NEO coin in a wallet
Software (web-based) cryptocurrency wallets are plentiful, but they offer many security risks. Cyber-hackers have managed to compromise many software wallets in recent times. Those who wish to purchase and store large volumes of NEO coin should consider a hardware wallet such as the Trezor or Ledger Nano S to hold them in cold storage. Of course, you can avoid the stress and uncertainty of storing NEO coin by trading the price of NEO via a CFD broker such as eToro.
Other ways to get NEO coin
You can mine NEO coin using an ASIC miner. ASIC mining rigs are designed specifically to solve the cryptographic puzzles that allow the creation of new NEO blocks. Do bear in mind that NEO mining is not a cheap investment – the ASIC miner is resource-heavy.
Overall, eToro seems to be the safest and easiest way to profit long-term from buying and selling NEO. eToro’s social trading community allows crypto investors to discuss trading angles and keep a close eye on official news and developments from the NEO community.