Investing in NEO has become lucrative, after its’ rebranding from AntShares (ANS) to NEO; the cryptocurrency as of October ranked in the top ten after reaching a $3.4 billion market cap, which now stands at $7.3 billion.
- 1 What is NEO?
- 2 Should I buy NEO?
- 3 Buying NEO or Ethereum – Who wins?
- 4 Where to buy NEO / How to Trade NEO?
- 5 CFD vs. Exchanges
- 6 How to buy with Etoro:
- 7 NEO Crypto Wallets
- 8 Top NEO Exchanges:
- 9 Can you Buy NEO on Coinbase?
It’s easy to see why there has been plenty of NEO news as of late; a meteoric rise always catches the speculative imagination of would-be buyers and traders. For those who are wondering how to buy NEO, take a look at one of the regulated broker platforms below. Regulation for a brokerage simply means high accountability and an increased number of safeguards and security to better protect your money.
Creating the Smart Economy
And so NEO was born, after AntShares rebranded and updated the platform’s user-interface, NEO began taking strides towards its goals as a functioning blockchain solution. The currency and the NEO platform function as an ecosystem for smart contracts, which allow users to create an automated exchange of stored digital assets; there are plenty of other smart contact solutions available already established within various industries and blockchain niches, NEO competes by utilising the ever-advancing technology in cooperation with governing bodies in China towards creating a ‘smart economy’.
Should I buy NEO?
NEO has demonstrated that it indeed has the capacity to be a great cryptocurrency which will be at the forefront of China’s expedition into blockchain and crypto technologies. NEO investment has erupted and China, the second largest economy in the world, has managed to pull through two major financial crises in the past through innovative means.
For a population as large as China’s, it is only suited that their eager adoption of blockchain technologies is rallying huge amounts of support, from government, industries including the financial sector and the public; this has a significant impact on the question as whether to buy or not.
Simply put, the Chinese government by and large are encouraging the innovation of blockchain and regulations and if this is the case, it is highly likely that many of these cryptocurrencies and their accompanying platforms/ecosystems will have some if not many interactions and implementations of the smart contract 2.0 technologies that NEO brings.
Like any product or tradable asset, having faith in its ability to deliver is a wildly huge contributing factor to their successes and while yes cryptocurrency markets are generally rather volatile, it is something to take advantage of sooner than later.
Buying NEO or Ethereum – Who wins?
NEO uses ‘smart contract’ technology much like Ethereum which has consistently had the second-largest market-cap of all cryptocurrencies. Both NEO and ETH share the ultimately ambitious goal of becoming platforms ready for the new internet, aka internet 3.0, which will serve DApps (Decentralised applications), ICOs (Initial Coin offerings) and as mentioned, smart contracts.
DApps vs Smart Economy
Ethereum’s goal to create a DApps development platform for the utopian vision of a ‘globally accessible, more free, more trustworthy internet’ is noble at best; Ethereum has the DApp market largely under their ownership as their roadmap is intent on giving developers and users ownership, control and a tonne of options in their application development. NEO on the other hand is working to create a platform ready for the ‘smart economy’, a new economic system for the future.
The most Important Distinction between NEO and Ethereum
Smart economies have already had some implementations and real-world uses, for example DAOs which are essentially decentralised companies without a single leader. Within these smart economies, digitised physical assets are the mainstays of the new system; assets will have the blockchain provide proof of ownership, all of which can be traded, leveraged and sold through the mutual trust of a smart contract.
The ‘smart economy’ will be serviced by platforms that are indeed regulated by governments so there needs to be considerable thought put in to how these platforms can accommodate government regulation. To be straight to the point, smart economies are going to be a part of the future and NEO, unlike Ethereum, is actually developing towards that purpose.
Where to buy NEO / How to Trade NEO?
There are a few avenues to explore when it comes to acquiring this cryptocurrency; there are exchanges such as Bittrex and Poloniex which allow users to exchange their Bitcoins or Ethereum into many other alt-coins including NEO. Buying NEO directly requires you to first buy bitcoin and exchange for NEO.
CFD vs. Exchanges
They are also purchasable as CFD’s (Contract for Difference) through other brokers that which are presently a popular choice for buyers and traders due to their medium / long-term price protection. CFD’s are agreements that are entered into with a broker, the agreement in the context of NEO would make it so that for cent that NEO moves, you receive or give them X amount.
A contract may represent a figure of £10 per cent, so if you were to buy ten of these contracts then they will give you £100 per cent increase of NEOs price; on the flip side of this you will give them the same amount per cent decrease.
Brokers typically make their money from CFD agreements in their bid-ask spread, juggling long and short CFD positions to balance them against one-another to remain neutral which is great for NEO as in this ‘exchange’ you don’t actually take the risk of owning a single NEO token so there is no actual connection between the CFD and the underlying asset which in this instance is NEO, keeping the market value of NEO steady.
Lots of people are now investing in NEO through CFD brokers because the liquidity is higher, which means they can get in and out of a trade quicker.
Can you Buy NEO on Coinbase?
Coinbase is very much a western exchange, the fact that is only allows you to buy four cryptocurrencies with three fiat currencies shows you how hard it is to break into the Coinbase club.
Currently you can only use Euros, British Pounds or US dollars to buy one of the four cryptocurrencies. So given that NEO is Chinas first attempt at blockchain technology, it is not surprising that the two are yet to be compatible. With NEO being very much an Asian cryptocurrency, you cannot buy it directly from Coinbase just yet.
Will we see it on Coinbase in the future?
You cannot rule it out however there are plenty of other cryptocurrencies in line ahead of it and given the fact that NEO is basked by Chinese authorities, I don’t think they are all that bothered right now with Coinbase. They are likely looking to get into the Chinese, Korean and Japanese exchanges before they begin to migrate west.