What Is NEO?
NEO is an open-source blockchain technology with a focus on decentralized apps that was designed in 2014. It is known as Chinese Ethereum. But unlike Ether that runs on decentralized applications, the NEO network uses a proof-of-stake decentralized architecture - Byzantine Fault Tolerance (dBFT). The base asset of its blockchain is GAS tokens. GAS allows users to pay for transaction fees. You can earn GAS rewards by participating in decision-making and voting.
The project’s vision is to contribute to a smart economy, where the NEO blockchain and smart contracts are utilized to digitize assets. A smart contract is a self-executing agreement between a buyer and seller, which eliminates third-parties involvement in crypto regulation.
Unlike other crypto and blockchain projects, the NEO platform allows you to link a physical asset with its digital equivalent. The digital version is registered on the platform and protected by law and has a validated digital identity. This facilitates crypto management even in countries with strict regulations. Many believe that this is the key reason why the NEO Foundation is paving the way for the next-gen Internet.
How is the price of NEO determined?
Although a growing number of investors and institutions support the NEO project and it boasts a distributed network of participants, the coin’s value is fluctuating. To assess the market risk before issuing market orders, analyze the overall crypto market and current sentiment.
Can I buy less than 1 NEO?
Yes, you can purchase a fraction of NEO the same way as with other digital assets like Ethereum or Bitcoin. For example, if you have only $100, you can deposit the fiat money with a credit card and get approximately 0.025 NEO. The same applies if you exchange crypto to NEO.
What app can I use to buy NEO?
We make everything for your pleasant experience when you buy crypto. You can trust the Changelly exchange, we’ve got some points:
- We have no deposit storage.
- Each account is protected with 2-factor authentication and an HTTPS protocol.
- More than 2 million satisfied users.
If you have questions on how to invest in NEO, then our technical support team is ready to take care and help you with your problems. Note that you can find the answers to a burning question on our helpdesk.
Where can I store NEO?
Cryptocurrency exchanges allow you to hold NEO. However, the majority of NEO holders choose to transfer their funds to a web wallet. The safer option is a hardware wallet that isn’t as exposed to cyber threats as online ones because it’s not connected to the Internet.
What is the best NEO wallet?
Holding NEO on a hardware wallet is the most secure option. The major benefit is that your private keys can’t be accessed by hackers easily. Ledger Nano is one of the best NEO wallets.
How to cash out NEO?
If you want to take out the NEO token from your crypto portfolio, you can issue a market order to sell it and receive the fiat money. You can easily do this on the Changelly exchange: verify your account, select a trading pair (for example, trade NEO to USD), provide a crypto wallet address and banking information, and complete the transaction. The funds will be transferred promptly.