How to Buy GAS – Complete Guide

There are few crypto projects more exciting than NEO (the so-called “Ethereum of China”). NEO is making huge advances into the smart contract and dapp spaces, with footprints in other sectors within cryptocurrency. If improvements continue being made on this blockchain, it will surely be one of the top 2 or 3 cryptocurrencies in the next couple of years.

NEO runs on GAS, a coin that pays for transaction costs of the blockchain. GAS is given incrementally to NEO holders, but it’s also sold on various exchanges like Binance.

(GAS)

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The Difference Between Trading and Buying

1

Ownership:

To buy cryptocurrency, you must create a wallet for yourself to hold the tokens. Trading does not require this.

2

Different Goals:

If you wish to support the ethos of the cryptocurrency, buying is better. If you are looking to profit on investment, trading offers more options.

3

Regulation:

Trading through a CFD is much more likely to provide more regulation to protect investment. Buying does typically offer this added security.

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The ultimate beginner's guide to trading Gas

Why Buy GAS Now?

From where this author is sitting, a market recovery might just be in the works. After languishing through the first half of 2018, crypto prices have been in the dumpster. Just a fraction of all time high prices, even the best blockchains have seen investors flee in recent days. Today, in mid July, the markets are in the green by 10% or more, depending on the coin. It may prove to be a fleeting recovery, but it feels good nonetheless. But what if it’s not a “bull trap”? What if this is just the beginning of a major crypto rebound? If so, the prices that are available today are going to disappear. As GAS is integrated in one of the world’s most exciting blockchains, why not invest in the currency which fuels it? GAS is tethered to the price of NEO. NEO (at around $40 today) once exceeded $200. If GAS hits its all time high again, $50 will be a low price to pay. Just sayin’, if you’ve got a few spare bucks lying around, consider buying GAS!

How to Buy GAS Through Exchanges

There are plenty of other exchanges that sell GAS, especially when considering those who make ownership based investment possible. Here are a couple of the best options.

Binance

Binance platform Binance allows you to trade Bitcoin, Ethereum, and Tether for GAS. Just sign up and deposit your first crypto. Then go to “Exchange” > “Basic” and look for the trading pairs with GAS. Buy as much as you like. Interesting fact, if you store NEO on Binance, they will collect your GAS for you.

Buy GAS with Binance

Binance
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Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

KuCoin

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How to Store GAS in a Wallet

The NEON wallet may be the best way to store GAS. NEON is developed and maintained by the City of Zion – a team of amateur engineers who has proved to be more than capable. They volunteer for the NEO blockchain and have developed some of its best assets. The NEON wallet is free and stores both NEO and GAS, as well as new NEO coins.

Other Ways to Get GAS

Want GAS but don’t want to pay for it directly? Here’s a great method that’s worthy of your consideration.

Buy NEO

As we’ve stated already, people who hold NEO get GAS for free. NEO is a coin that allows you to vote on the NEO blockchain, along with other privileges. GAS pays for transactions on the NEO blockchain. For every NEO coin, there is one GAS. Each GAS coin will be released in a trickle over the next 20 years. The trickle is fastest at the start. If you were to buy up a bunch of NEO, you would eventually have a bunch of GAS as well. Many people think of this as a buy one get one free scenario, and they’re not wrong. As there are those who believe that GAS will one day be more expensive than NEO, it’s a deal that you shouldn’t carelessly pass up.

Conclusion

It goes without saying at this point that GAS is an exciting investment option with a lot of potential upside. Its integration into the NEO ecosystem of blockchain, dapps, and enterprise gives it immediate use cases. Its utility will only become greater as time goes on and the NEO network expands. Whether you buy GAS directly with Coinbull or Binance, or get it through ownership of NEO, you are very likely to be pleased with your GAS investment.

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FAQs

  1. NEO is giving off GAS pretty quickly these days. If you had, say, 500 NEO, you'd get around 5 or 6 GAS for free every month. Of course, most people aren't just going to buy up 500 NEO in one go. But even with more modest volumes, GAS will eventually accumulate into an explosive holding.

  2. Many people don't understand why a blockchain needs two coins. Why not have one coin serve all functions, like Ethereum does with Ether? There are some important differences in the coins. Most notably, NEO is indivisible (for now). It can only be transferred in integer values (1, 2, 3 - no 4.284). Gas is divisible to 8 decimal places, like Bitcoin. NEO has always been the "elite" coin, so to speak, as it confers voting rights and new GAS when it's introduced into the system. There has been discussion of making NEO divisible just like GAS, in which case who knows how their purposes would change. The community has largely fought against this development, so it'll be interesting to see which way the NEO team goes.

  3. GAS sounds cool, but if you're not from China, why bother? Well, blockchains are international, and NEO is one of the best of them. The Chinese government has allowed NEO to blossom with little negative restriction. NEO also has corrected some of the problems with Ethereum and other older smart contract platforms. Thinking of NEO as a Chinese coin is to kind of miss the point. Its ambitions are global.