It’s no secret that Bitcoin cryptocurrency is in a competition with ETH. Which crypto coin goes up against that one? Let’s think. China has the upper hand in the business. To begin with, it is ahead of other nations regarding standardizing the blockchain. And this is so because the country first made real efforts into the application of the crypto into real life. It was made on the Trustworthy Blockchain convention in 2017, where they chose to invite Da Hongfei, the NEO founder.
So you might hear about NEO referred to as the “Chinese Ethereum”. Formerly known as Antshares, Neo is network and cryptocurrency. It has 2 key similarities with ETH: both host smart contracts; offer crypto-assets – GAS and Ether. NEO crypto generates neoGAS (GAS). You can accumulate GAS and use the money for paying transaction-related fees. So with that, we understand your wish to know how to get the coin. Step by step you will get acquainted with the process and alternative ways to make the purchase.
Set up NEO Wallet
Where do you think people hold all crypto currencies? They set up a wallet. They fall under 4 types: desktop, mobile, paper and web. At the time, we can only speak hypothetically about potential choices. However, here is a popular variant for Windows, Mac and Linux computer users – NEON. There are also 3 web versions: NEO Tracker, NEO Wallet, NEOWallet. And there are rarely used mobile NEO and paper wallets. The first is limited to Android users. The latter is accessible offline, but not allowing to claim neoGAS. Now that the wallet type is chosen, you may come over to creation itself:
- Go to the wallet site
- Choose to form up “New Wallet”
- Make a password
- Get a private key and save it.
Get NEO on the Exchange
People admitted that having no chance to deal with the coin directly is one of the major issue so far. However, one may get NEO. In case you don’t know ways, hereinafter you may find their descriptions.
Buy BTC or Other Altcoins at First
For starters, here are CEX.io or Localbitcoins exchanges to begin with. These are reputable platforms where one may purchase BTC and altcoins. Altcoins – all cryptocurrencies except for BTC. They can be bought with e-wallets, credit cards, fiat, bank transfers or ATM. Make 4 steps to buy BTC at CEX.io:
- Create a new account
- Get a BTC wallet address
- Send BTC
- Trade BTC with NEO
It is also conceivable that you buy neo with DOGE, LTC, USDT on another platform.
Swap BTC/ETH to NEO Coins
The final stage is to exchange BTC on NEO. For that, register with one more platform. To find it, you should be sure it contains such pair – BTC/NEO. Make 4 steps to complete the exchange:
- Create a new account
- Get a BTC wallet address
- Send BTC
- Trade BTC with NEO
Keep or Withdraw Cryptocoin?
Right after a single successful deal people think of recording the first profit. But one must be careful with withdrawing the coins. You should take care of 2 things beforehand. Find out about all related fees and choose a secure NEO wallet. However, we looked through diagrams of big exchanges and they confirm the strength remains on the side of NEO sellers.
That’s why, it is wise to continue trading with the crypto.