Neo is most commonly known as the Chinese Ethereum. This is the beginner’s guide where we will be telling you how to buy Neo in three simple and easy steps.
Neo: An Introduction
Neo is a non-profit community-based blockchain project that goes on to utilize blockchain technology and digital identity with an aim to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network.
Founded by Da HongFei and Erik Zhang in 2013, Neo was formerly known as Antshares and was launched officially as a company in 2014. To create a significant impact on the global financial market, the founders decided to rebrand the company and rename it as NEO – a Greek word meaning new, youth, and novelty.
It didn’t take NEO much time to become China’s first decentralized, open-source blockchain based cryptocurrency. Neo’s long-term vision is primarily focused on completely reinventing commerce by assimilating traditional economy with the digital economy and come up with something known as ‘Smart Economy.’
Neo aims to utilize ‘smart economy’ in order to enable businesses to manage their smart assets safely, legally, as well as effectively.
How to Buy Neo in 3 Simple Steps
Now that you have understood what Neo is and what it aims to achieve, let us get to know how to buy Neo in three simple steps.
Step 1: Get a Neo Wallet
The first step towards buying Neo entails getting a Neo wallet. The best place to get a Neo wallet is directly from the website as it highlights all the versions including desktop, web as well as mobile versions.
The Neo Project itself provides a GUI desktop wallet to the users. However, it is only available for Windows which leaves the ones using Mac or Linux look somewhere else. It is noteworthy to add that there are a few scam Neo wallets out there you should totally avoid.
Neon Wallet (desktop), Neo Tracker Wallet (web), Neo Wallet (web), the Official Neo Wallet (mobile) etc are some of the popular wallet options available.
Step 2: Find an Exchange
The simplest way to buy Neo would be through eToro’s Neo trading platform. However, the only problem you may encounter using eToro is that you won’t be able to withdraw the coins. You can only buy or sell Neo for fiat currency i.e. dollars, euros, etc.
If you intend on using eToro to buy Neo, you won’t be requiring a Neo wallet. On the other hand, if you are looking to buy and hold Neo then you can buy Neo from other popular cryptocurrency exchanges. Bitfinex, Bittrex, and Binance are a few cryptocurrency exchanges that offer Neo purchases.
Step 3: Withdraw Your Funds
We suggest you withdraw your funds from the cryptocurrency exchange as soon as you have bought the coins. Having full ownership of your coins in a wallet that allows you control over your private keys is always considered the best practice. Once the coins have landed safely in your wallet, it means you have successfully completed the process of buying Neo.