How To Buy Neo (NEO)?
A common question you often see on social media from crypto beginners is “Where can I buy Neo?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process.
Step 1: Create an account on an exchange that supports Neo (NEO)
First, you will need to open an account on a cryptocurrency exchange that supports Neo (NEO).
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In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.
Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.
Step 2: Deposit funds into your account
Many cryptocurrency exchanges will allow you to purchase Neo (NEO) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.
Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.
Step 3: Buy Neo (NEO)
This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Neo (NEO) or Neo (NEO) trading pairs. Look for the section that will allow you to buy Neo (NEO), and enter the amount of the cryptocurrency that you want to spend for Neo (NEO) or the amount of fiat currency that you want to spend towards buying Neo (NEO). The exchange will then calculate the equivalent amount of Neo (NEO) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of Neo (NEO) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.
For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out.
What Is Neo (NEO)?
It is the most feature-complete blockchain platform for building decentralized applications. Neo enables developers to digitize and automate the management of assets through smart contracts. It also provides powerful native infrastructures such as decentralized storage, oracles, and domain name service, creating a solid foundation for the Next-Gen Internet.
Neo was founded by Da Hongfei and Erik Zhang in 2014 under the name Antshares. The original source code was published to GitHub in July 2015 and the MainNet subsequently launched in October 2016.
In 2017, Antshares was rebranded to Neo as it implemented Smart Contracts 2.0. It underwent aggressive global expansion as hundreds of new developers poured onto the blockchain. Neo leadership began distributing NEO token rewards to groups and individuals that contributed to the growth of the Neo platform. Some of the earliest groups to join Neo included COZ, NeoEconoLabs, and O3 Labs.
In 2021, Neo is being upgraded to version 3.0, known as N3. As a project that began in June 2018, the N3 upgrade represents the biggest advancement in Neo’s history. It is aimed at bringing the first all-in-one blockchain development experience to the industry, packed with powerful native features such as distributed storage, oracles, and name services. Neo N3 also boasts a simpler and more modular architecture than its predecessors, along with an improved governance and economic model.
Neo was a pioneer in the early blockchain industry. Not only was it the first public smart contract platform to be founded in China, it was also the first chain to use a dual token model and the first to implement a BFT style consensus mechanism. Further, Neo is still the first and only token sale to return all the original raised funds to its participants once the project had generated enough money to be self-sustaining.
Over the years, Neo’s organizational structure matured as its Shanghai based operation grew from less than a dozen to over 50. The number of community groups dedicated to advancing Neo’s technology also increased. Today, Neo has developers all over the world contributing to core development, infrastructure, and tooling, including alumni from organizations such as Microsoft, Facebook, Amazon, Samsung, Dell, Seagate, and others.
The main groups working on Neo can be broken down as follows:
Neo Global Development
Sponsored Community Groups
In the eyes of the idealist, the overarching goal of Neo is to be a decentralized and open network for the Smart Economy. The pragmatist, however, knows that in order for this goal to be realized in a timely manner, some centralized coordination must occur.
To this end, the Neo Foundation was established as a strategic guide for the Neo platform. As an organisation, the Neo Foundation sets the overall goals for the project and provides funding to other self-governed groups to pursue these goals as they see fit.
Neo also knows that the blockchain industry cannot circumvent existing legal systems or create solutions that are wholly incompatible with existing business frameworks. Instead, we must all work together to build the Smart Economy of tomorrow.
Neo has approached this issue by founding and joining several industry groups designed to establish standards, educate law-makers, and increase access to infrastructure.
In 2021, Neo will take its biggest step forward toward decentralization with the launch of Neo N3. NEO holders will have the opportunity to vote in a Neo Council responsible for governing the blockchain, running consensus nodes, and setting critical blockchain parameters such as transaction fees.
Official website: https://neo.org/