NEO is the latest iteration of Ethereum’s smart contracts. Based on a unique Blockchain algorithm that enhances the original Ethereum model, NEO is less vulnerable to cyber-crime than all Ether contracts. Labelled the ‘Chinese Ethereum’, NEO was developed by a Blockchain company in Shanghai called OnChain. OnChain hopes to become the world’s first truly universal Blockchain framework, capable of utilising a variety of plug-in modules and being applied across public and private chains. NEO contracts are set to play an important part in that process.
NEO is 100% pre-mined, with 50 million NEO sold through crowdfunding and distributed to early contributors to the NEO project and another 50 million set aside to be 'managed' into the ecosystem by the NEO Council. With a price of around £38-£40 per NEO and a circulating supply of more than 65 million already, it is a cryptocurrency that’s becoming more mature by the minute. If you'd like to invest in NEO, read our guide below to find out how to buy NEO safely and easily.
1. Create your eToro account – it takes just a few minutes to join!
2. Choose your preferred method for depositing and withdrawing to and from your account (e.g. PayPal, credit/debit card, Skrill, Neteller or Wire Transfer)
3. Deposit funds (minimum deposit: £200) – Thanks to CySEC and FCA regulation, your money will be looked after properly
4. Start buying NEo today
5. Watch your profits soar!
It’s no secret that the Chinese fintech sector is one of the fastest-growing fintech markets on the planet right now. It is a nation that’s pumping millions of pounds into cryptocurrency and Blockchain in particular and is primed for 21st century innovation. If you're asking yourself 'should I buy NEO?' you should note that it is being viewed as a homegrown Chinese alternative to Ethereum, which failed to take off in a big way in the Far East, due largely to its western roots.
Most importantly, NEO has the financial backing and support of some of the largest tech firms in the massive country of China and beyond. Even Microsoft Azure has partnered with NEO in the past, with software developers worldwide bound to be enticed to the NEO platform allowing use of programming languages that developers are already familiar with. That’s the key benefit against Ethereum, which requires developers to learn its own language and environment. With Chinese tech and even the Chinese government reportedly behind NEO’s success, it’s clear that now is a good time to make a long-term investment in the cryptocurrency with the price of NEO currently well below its market potential. If, at this point, you're wondering where to buy NEO, keep on reading!
At Best Bitcoin Exchange, we have spent considerable time reviewing many cryptocurrency exchanges and wallets to provide our users with the safest and most efficient platforms to buy NEO and other leading altcoins. Of all the portals we’ve analysed, eToro continually outperforms the rest. It’s well-suited for newcomers to investing in NEO as well as more experienced investors with established crypto portfolios. It is CySEC and FCA regulated too, so you can deposit your investment funds into your eToro account with peace of mind that your funds are never touched by the company itself.
When trading NEO at eToro’s social community you can also benefit from some of the lowest commissions in the crypto marketplace. Another important bonus is that you don’t need to create a new wallet to store your NEO, with your eToro account designed to securely house all cryptocurrency investments. When you consider that over six million investors are already buying and selling cryptocurrency within the eToro community you get a sense of how committed the platform is to educating and helping investors in altcoins such as NEO. If you’re interested in reading our full review of eToro’s service, click here.
If you’re left wondering how do I buy NEO with eToro, carry on reading through this guide as we’ll demonstrate just how easy it is to start your cryptocurrency investment portfolio as an eToro member.
eToro is fast becoming one of the most popular places to buy and sell NEO online. With a market cap that’s almost five times the size of Bitcoin and the entire country of China throwing its weight behind the NEO contracts innovation, it’s easy to see why people are looking to invest in the concept now before it matures.
You can see just how social the eToro trading community has become just by visiting eToro’s NEO market page. Investors in NEO can discuss and debate price moves on the page’s social feed and keep track of its live market value as well as the percentage of eToro members currently investing in it.
- Hit the ‘Join Now’ button on the homepage to begin the application process for a live eToro trading account
- Fill out the account application form, including your username, password, email address and contact phone number
- You can also complete the eToro sign-up process using your Facebook or Google account in just one click
- Log in to your account using the username and password created
- Click ‘Deposit Funds’ on the left-hand navigation bar
- Set the amount you wish to fund your account, followed by the currency and payment method
- Locate the NEO stock page, detailing its current price and up-to-date NEO news feed
- Click on the blue ‘Trade’ button in the top right corner
- Select the amount of NEO you wish to buy
- Set optional stop loss and take profit orders to limit your risk
- Click ‘Open Trade’
NEO is now a feature of most of the leading cryptocurrency exchanges online. However, it’s not currently possible to buy NEO directly using fiat currencies. Investors that wish to buy NEO using an exchange must first purchase Bitcoin or Ethereum from an exchange and then convert it into NEO. If you are wondering how do you buy NEO through an exchange, we've listed three crypto exchanges for you to try:
Changelly makes it possible to buy NEO without having to register at a cryptocurrency exchange or undergo verification. Through the use of automated trading bots, the service sources the best possible rates on crypto trading pairs, allowing you to lock in a great price for your investment. With 80+ altcoins and crypto tokens available to trade, it’s not difficult to see why it has a customer base of over 700,000 to date.
Changelly pros: Two-factor authentication offered as standard, credit card deposits accepted
Changelly cons: Higher rates than some other sites, crypto community unsure of brand, no virtual account available
- Click the green ‘Sign Up’ button in the top right-hand corner of the homepage
- Fill in your email address and click ‘Continuing Signing Up’
- Alternatively, you can create your account using Google, Facebook or Twitter profile
- Provide your cryptocurrency wallet address where you wish to send and receive your exchanged currency
- Select your preferred payment method - debit/credit card or bank transfer
- Transfer Bitcoin into NEO from one wallet into another. Select your Bitcoin to be exchanged on the left to be transferred into NEO on the right-hand side and click ‘Exchange!’
- Check the amounts and ensure the transfer details are correct and click ‘Next’
- Specify your NEO wallet address and click ‘Next’
- Check all final details of your conversion and click ‘Confirm & Make Payment’
Bittrex is one of the larger cryptocurrency exchanges available to buy and sell NEO. They operate a number of trading pairs into Bitcoin. It does have very high liquidity which makes it easy to complete your transactions with the minimum of fuss. It also has good security for account holders with two-factor authentication incorporated.
Bittrex pros: Active in the community since 2015, 2FA as standard, one-minute price charts available
Bittrex cons: No margin trading offered, liquidity below average, community concerned about lack of transparency
- Visit the Register page to start the account registration process.
- Enter your email address and password, and agree to the Bittrex Terms of Service
- Click the link in your Bittrex account verification email
- Log in to your new Bittrex account for the first time
- Log in to your Bittrex account and click ‘Wallets’ in the top right
- Find the wallet you wish to deposit into
- Click the green icon next to the wallet
- Click ‘New Address’ to generate your address
- Send Bitcoin or Ethereum to your Bittrex account
- Click the Bittrex logo to view all available digital assets
- Select either BTC-NEO or ETH-NEO, depending on how you funded your account
- Find the Trading tab and in the ‘Buy NEO’ box enter how much NEO you wish to buy
- In front of the bid label, click on the price drop-down to select the bid option
- Click ‘Buy NEO’ once the necessary Bitcoin or Ethereum has auto-filled
Despite what some people believe, eToro is not a cryptocurrency exchange. In fact, it’s official term is a social trading community. eToro members can buy and sell cryptocurrencies, as well as stocks and fiat currencies. A plethora of crypto tokens and altcoins are available to trade. Read our table below for a detailed comparison between exchanges and eToro.
|Comprehensive range of cryptocurrencies||√||√||√||√|
|Live Chat functionality||No||√||No||No|
|Educational trading material||√||No||No||No|
|Copy successful crypto investor portfolios||√||No||No||No|
|Capable of storing cryptocurrency||√||No||No||No|
On the whole, it's easy to see why eToro is the best place to buy NEO. If you're ready to start your trading journey with eToro, read about it in our detailed eToro review.
Although NEO is a relatively new cryptocurrency, there are several ways in which you can buy NEO to add to your crypto investment portfolio:
It’s not yet possible to buy NEO directly using a credit card or with a debit card anywhere in the world. That’s because fiat currencies cannot yet buy NEO online outright. You must first use your debit or credit card to buy Bitcoin that can be converted into NEO in the space of ten minutes.
Again, at the time of writing, there is no direct method of buying NEO with your PayPal account. The easiest way is to purchase Bitcoin using your PayPal account and then exchange it into NEO using a service such as Binance.
Similarly to PayPal, to buy NEO using a Neteller account, you will have to buy Bitcoin or Ethereum first and convert it into NEO using a service such as Binance.
Skrill account holders in Europe can purchase Bitcoins at BitPanda and then convert them into NEO using Binance.
At the moment there is no way to directly buy NEO using cash. There are no ATMs that currently support the purchasing of NEO using fiat currency. You will have to buy Bitcoins at an ATM first and then exchange them into NEO using a platform such as Changelly.
There are several cryptocurrency exchanges that accept UK-based investors, such as Binance, Bitfinex, and KuCoin. You can only purchase NEO directly using these exchanges by converting Bitcoin or Ethereum into NEO. However, we recommend that you use eToro to buy.
Budding NEO investors living in Ireland can also utilise services such as eToro, Binance, Bitfinex and KuCoin to convert cryptocurrencies such as Ethereum and Bitcoin into NEO. Sites such as Changelly and Indacoin also allow you to use the euro to purchase NEO directly on these global exchanges.
Like European countries that use the euro, American crypto traders can use Changelly and Indacoin to purchase NEO on their exchanges using US dollars. However, eToro has been announced as coming to the US too.
It’s worth noting that some cryptocurrency exchanges don’t have in-built functionality to store and keep your NEO secure within an account. If that’s the case, you’ll need to find a suitable crypto wallet to house your NEO post-purchase.
Fortunately, there are many reputable web, mobile and desktop crypto wallets on the market, as well as multi-signature wallets for traders demanding the optimum security levels for the digital assets. Click here for our full guide to the best wallets suitable for investments in NEO.
Note: It’s important to remind you that as a member of the eToro social trading platform, you won’t need a crypto wallet to buy and store cryptocurrencies. The platform protects your digital assets under one roof, making it easier to keep track of your NEO portfolio.
Unfortunately, NEO tokens cannot be mined because they're all pre-mined. Nevertheless, as every new NEO block is generated, a specified number of GAS tokens are established and spread out to all holders of NEO tokens. GAS is the operational token that powers the smart contracts and tokens built on the NEO blockchain.
It might be possible to start amassing NEO tokens for free using faucets. These are reward systems created in the form of a web app or website, dispensing rewards in the form of tokens in exchange for completing a captcha or task specified on the website. There is a NEO faucet that gives away free NEO every 60 minutes. All you need to do is submit your NEO wallet address and solve the captcha.
In summary, eToro seems to be the safest and most effective way to purchase your NEO tokens. It’s an opportunity to become part of a profitable community of cryptocurrency traders and investors, discussing investment angles and even generating additional revenue based on your own successful NEO trading strategies. Combine that with no need to set up a separate crypto wallet and you’re onto a winner with eToro for all your digital asset needs.
The founder of the NEO project is Da Hongfei, who originally launched the concept back in 2014 through his development company Onchain.
The supply limit of NEO tokens is 100 million, all of which have been pre-mined. 65 million were already in circulation as of March 2018.
No, initially NEO tokens were called AntShares but were rebranded back in June 2017.
GAS is the operational token that powers the NEO smart contracts and tokens built on its blockchain. The supply of GAS grows by eight with every NEO block created.
Theoretically, the NEO blockchain could process up to 10,000 transactions per second.
It takes just 15-25 seconds for a new block to be created.