Where and How to Buy NEO Coin Complete Guide

Suppose you are staking $100 on NEO, and make 2% profit, which amounts to $2. If you increase your stake to $1,000, your profit will also be directly proportional, giving you $20 gain. Below is a list of essential orders that you need to know about when learning how to trade NEO online. One such option is to do this via CFDs – which are derivatives that reflect the market value of NEO. To capitalise on NEO, a trader should be able to predict the market’s attitude correctly.

• As such, you can begin your journey by depositing some money into your account to buy NEO.
• This is also the case when you use a credit card to withdraw cash from an ATM or at a gambling site.
• If NEO’s price does hit $10.92, your position will be closed with a 4% profit.
• Unlike Bitcoin, cryptocurrencies like Ethereum and Neo let developers build financial products directly on the blockchain.
• Moreover, it is easier to calculate the profits and risks while trading against a fiat currency.
• Binance also offers the option to purchase cryptocurrencies with your debit/credit card through their partner, Simplex.

As given, if you are able to take advantage of market variations at the right time, trading NEO can leave you with significant profits. On the other hand, if the market goes against your NEO prediction, you will end up with a loss. With the rapid advancement of the internet, a great deal of attention has shifted from traditional financial instruments to digital assets such as NEO. At the forefront of this is NEO – which is now a hugely popular digital currency to trade. They can contribute to some salient decisions regarding the network’s future.

Can you lose money on NEO?

If you don’t think Ethereum will be able to scale in a timely manner, then Neo may be a good investment for you. Right now, Ethereum’s market capitalization is about 75 times more than NEO’s, and most blockchain developers use Ethereum to build smart contracts. Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in to help you choose the one that’s right for you. The NEO network facilitates the exchange of digital assets without the need for intermediaries, through smart contracts. The primary thing you need to do is choose whether you need to go with a devoted broker or a derivative exchange.

After verifying your information, you’ll get to see your coins in the assets section of CoinEx. Once you’re done, you will need to go through some verification process, and finally, you’ll get your coins in the Binance wallet. To use any of the payment methods, it’s necessary is to register an account on Binance. Currently, the most popular NEO exchange is Binance, which handled $ 3.16M worth of NEO trades in the last 24 hours. For more information about purchasing, storing, and selling NEO, check the step-by-step guide on how to buy NEO.

Buying NEO with fiat currency

Developed in China in 2014 by Da Hongfei and Erik Zhan, Neo was originally known as AntShares. A platform that’s an extension of the blockchain, Neo supports its own form of cryptocurrency. It also allows for the creation of digital https://www.tokenexus.com/ assets, as well as smart contracts. When investing in NEO (or other cryptos), you must hold them in a secure digital wallet. These digital wallets, such as the best bitcoin wallets, allow you to keep your crypto holdings safe.

• Tradimo helps people to actively take control of their financial future by teaching them how to trade, invest and manage their personal finance.
• You can also consider a software wallet if you want to access the tokens regularly.
• While Neo may be similar to ETH, there are distinct differences between the two.
• The best crypto exchanges will ensure that all users are verified and that payment methods are legitimate so that the platform is as secure as possible.
• Now that you’ve completed steps 1 through to 4, you can go ahead and set up a trading order to buy NEO.

The most popular NEO exchanges are HTX (Huobi), Binance, KuCoin and OKX. There are many other crypto exchanges where you can trade NEO, but make sure to do your own research before making your choice. NEO and other cryptocurrencies are highly volatile and speculative. So, when buying or holding the token, it’s important to understand that prices can change at any time, leading to massive gains or great financial losses.

Entry Price

BitDegree Learning Hub aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. If you invested in NEO and the price decreased, you would suffer a loss on your investment. There is also a safety risk when buying NEO (and other cryptocurrencies), but you can combat this by holding your coins in a crypto wallet.

For instance, say your trading account has $2,000 in it, better not stake more than $40 on your NEO trades. With a longstanding reputation in the trading sector, eToro facilitates easy cryptocurrency trading with almost 100 pairs. Trades are executed at zero-commission, and you can hold your NEO coins in a secure eToro wallet. Moreover, it is easier to calculate the profits and risks while trading against a fiat currency. That is, perhaps, why NEO-fiat pairs are recommended to trading novices when compared to NEO-crypto pairs.

Is it possible to trade NEO with Leverage?

Those of you who have traded commodities, stocks or forex will notice that opening a NEO broker account is the same routine. Go to the website of the crypto provider of your choosing and look for the ‘sign up’ or ‘join now’ button. Although this might sound somewhat improbable – the value of this particular digital currency went from a value of $0.18 in 2016 to an all-time high of $196 in 2018. This shows that quadrupling your investment is entirely possible after all. To explain further, if you bought NEO at $15.15 with the vision of increasing your investment two-fold, the digital currency would need to rise in value to $30.30.

Unfortunately, NEO is competing with platforms like the well-established Ethereum, and other ones like LISK, EOS, and Cardano. NEO is a community-based blockchain project that uses blockchain technology to digitize assets. It also uses the network to create a smart community with a distributed network. Finder.com is an independent comparison how to sell neo platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services.

Which Wallets Can I Use To Hold NEO?

Before we move onto the next step of our beginner’s guide, we are going to make you aware of a few other important factors. It’s important, with any new venture involving finances to make a point of informing yourself of any prospective fees. However, despite the exchange’s exclusivity and hack, the exchange is in the top 5 NEO exchanges by volume, so I felt it should be included in the list. Yet, Upbit has left some questions in investors’ minds because they are the only major exchange in Korea who is not in support of self-regulation. The recommendation for self-regulation came from the South Korean government, so it was a bit surprising that Upbit did not participate.