NEO has continued to appeal to crypto investors since it launched a couple of years ago. Given its remarkable run during that last crypto bullish market, it’s no surprise to see many retail investors showing interest in this digital asset. 

In this article, we will take you through everything you need to know about NEO. We will also explore how anyone can invest in NEO online. And to ensure that you make an informed decision, we will also discuss some potential benefits and risks of investing in NEO. 

Ready to add NEO to your investment portfolio? Read on for all the juicy details. 

An overview of NEO

NEO is a robust blockchain project that has generated a lot of buzz since launching a few years ago. NEO was originally launched in China in 2014 and was called AntShares. However, the project was rebranded and called NEO in 2017. While NEO is unique in many ways, experts consider it a more advanced version of Ethereum. The project is particularly focused on the development of smart contracts and decentralized applications (dApps). 

Just like Ethereum, a leading name in the crypto industry, NEO leverages blockchain to record transactions and execute smart contracts. Although NEO shares some similarities to Ethereum, it has several major differences that differentiate it from other blockchain solutions. For instance, NEO is powered by its own consensus mechanism called dBFT (delegated Byzantine Fault Tolerance). This consensus mechanism is designed to be more efficient and secure than other popular consensus mechanisms like Proof-of-stake (PoS) and Proof of Work (PoW). 

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While NEO is focused largely on dApps and Smart contracts, its native digital currency, NEO powers transactions within its ecosystem. The NEO digital currency can be used to pay transaction fees, participate in governance, or vote on network changes in the NEO ecosystem. 

Without mincing words, NEO has proven to be a robust and versatile crypto project with the potential to revolutionize the crypto space. 

Who are the team behind NEO?

The NEO blockchain project is the brainchild of two of crypto’s most prestigious names, Erik Zhang and Da Hongfei. Da Hongfei doubles as the CEO of the NEO Foundation, a non-profit organization that supports the development of the NEO platform. Da Hongfei has a solid reputation in the blockchain industry and is highly respected for his contributions to the growth of the industry. 

Erik Zhang doubles as the chief technology officer of the NEO foundation. As the CTO of the NEO Foundation, he is responsible for the technical aspects of the NEO project. His skill as a software engineer and deep understanding of blockchain technology contributed to the immense success of the NEO project. 

While Da Hongfei and Erik Zhang played a significant role in the launch of NEO, they also had a highly experienced team of talented individuals, working behind the scenes to make the project a success. They included developers, researchers, and other professionals who contributed immensely to the launch of the NEO project. 

What makes NEO unique?

NEO is unique in several ways. Little wonder why it is a force to reckon with. Although NEO shares several similarities with Ethereum, it has many unique differences that set it apart from other blockchain projects. 

For starters, NEO has its own unique consensus mechanism called dBFT (Delegated Byzantine Fault Tolerance). This consensus mechanism has received praise in many quarters, especially because it has proven to be more effective and secure than popular consensus mechanisms like Proof of Stake (PoS) and Proof of Work (PoW). 

Besides its unique consensus mechanism, another thing that is unique about the NEO project is the programming languages supported by the platform. Some of the supported languages on the NEO ecosystem include Java, Python, and C#. This makes the platform appealing to developers. 

While NEO has many similarities with Ethereum, transactions on the NEO blockchain are quick, hassle-free, and more affordable compared to Ethereum. Plus, the NEO native token ensures that users can pay transaction fees, vote on network changes, and do so much more. 

Given all of these unique selling points, it’s easy to see why NEO is generating a lot of buzzes and appealing to many investors. 

How many NEO tokens are there?

The total supply of NEO tokens is fixed at 100 million. Of these, 50 million tokens were distributed during the initial coin offering (ICO) in 2014, and the remaining 50 million tokens were retained by the NEO Council, a group of individuals responsible for the development and maintenance of the NEO platform.

The NEO Council has the ability to use the retained tokens for various purposes, including funding the development of the platform, rewarding developers and community members for their contributions, and supporting the growth of the NEO ecosystem.

In addition to the fixed supply of 100 million NEO tokens, the platform also has a separate digital currency called GAS that is used to fuel the platform and pay for transactions. The total supply of GAS is also fixed at 100 million, and it is generated through a process called “block rewards,” in which new GAS is released as a reward for validating transactions on the NEO blockchain.

Overall, the fixed supply of NEO and GAS tokens is an important aspect of the platform’s design, as it helps to ensure that the value of the tokens is determined by market demand and not subject to inflation.

How has NEO performed since its launch?

Since NEO officially launched in 2017, it has attained significant growth, milestones, and development. 

One metric for measuring the performance of a blockchain project is the value of its native token. In NEO’s case, its utility token, NEO, also known as NEO coins has fluctuated significantly since the project launched. 

While the early days of the NEO project saw its native token NEO trade at a significantly low level, the bullish market of 2017 and 2018 saw its value surge sharply. During its peak performance, NEO coins reached as high as $190. After that bullish move, the value of NEO coins has dropped considerably, with the price now way below its all-time high. 

Overall, NEO has had a blend of mixed performance since its official launch in 2017. Despite making significant strides when it comes to adoption and development, like most digital assets, the value of NEO digital currency has been quite volatile and inconsistent. 

Is NEO a good investment?

Like most cryptocurrencies, NEO has had a mixed year. This year saw NEO lose nearly 95% of its value. While this may come off as disappointing to investors, it’s important to note that NEO isn’t the only digital asset that has performed poorly this year. 

It would be recalled that a few years ago, NEO reached as high as $190, showing just how profitable the asset was. Unfortunately, the massive sell-off being experienced in the crypto market has forced the price of NEO down significantly. 

As of the time of writing this post, NEO was trading for $6.28. Looking at the current price of NEO, there is no better time than now to add NEO to your crypto portfolio. Experts predict that the crypto market will rebound from the current sell-off being experienced. So we expect the price of NEO to rise significantly during another bullish cycle. 

How to buy NEO tokens

Are you ready to add NEO to your digital asset portfolio? It’s easy to get started! NEO is listed on many top cryptocurrency exchanges, so you can buy it from the platform of your choice. 

Simply sign up for an account with an exchange and verify your identity by providing an address, government-issued ID, and social security number. Once your identity is verified, you can deposit fiat currency and use it to purchase NEO tokens. It’s that simple! Just remember to do your research and consider the potential risks before making any investment decisions.

How to trade NEO on eToro

Frequently asked questions

How can I buy NEO online?

There are several ways to buy NEO online. One option is to buy it on a cryptocurrency exchange, such as Binance or Coinbase. To buy NEO on an exchange, you will need to sign up for an account, verify your identity, and deposit fiat currency or another cryptocurrency. Once your account is set up and funded, you can use the exchange’s trading platform to buy NEO using your deposited funds.

Another option is to buy NEO through a peer-to-peer marketplace, such as LocalBitcoins or Paxful. On a peer-to-peer marketplace, you can buy NEO directly from another person using a variety of payment methods, including bank transfers, credit cards, and PayPal.

Is it safe to buy NEO online?

Buying NEO online can be safe if you take proper precautions. To ensure the safety of your funds, it’s important to only buy NEO from reputable sources, such as well-established exchanges and peer-to-peer marketplaces. You should also be sure to use secure payment methods, such as bank transfers or trusted online payment services, to minimize the risk of fraud. Additionally, it’s a good idea to store your NEO in a secure wallet, rather than leaving it on an exchange, to protect it from potential hacks.

What are the fees for buying NEO online?

The fees for buying NEO online can vary depending on the method you choose. Cryptocurrency exchanges generally charge trading fees, which are typically a percentage of the total value of the trade. These fees can range from 0.1% to 0.5% or more, depending on the exchange. Some exchanges also charge deposit and withdrawal fees, as well as fees for using certain payment methods.

Peer-to-peer marketplaces may also charge fees for buying NEO, although these fees are generally lower than those charged by exchanges. It’s important to compare the fees charged by different exchanges and marketplaces before deciding where to buy NEO to ensure that you get the best deal.

What is the minimum amount of NEO I can buy?

The minimum amount of NEO you can buy can vary depending on the exchange or marketplace you are using. Some exchanges have minimum trade sizes, which may be as low as $10 or $20, while others have no minimum trade sizes. Peer-to-peer marketplaces may also have minimum purchase amounts, or they may allow you to buy any amount of NEO as long as it is within the seller’s limits. It’s a good idea to check the minimum purchase limits of the exchange or marketplace you are using before buying NEO to ensure that you can buy the amount you want.

Can I buy NEO with a credit card?

Yes, it is possible to buy NEO with a credit card on some exchanges and peer-to-peer marketplaces. However, it’s important to note that buying NEO with a credit card may be more expensive than other payment methods due to the higher fees charged by credit card companies. Additionally, some exchanges and marketplaces may not accept credit card payments for NEO due to the high risk of fraud. It’s a good idea to check the payment options available on the exchange or marketplace you are using before buying NEO to ensure that you can use your preferred method.

Final thoughts 

In conclusion, buying NEO on eToro is a simple and convenient way to add this popular cryptocurrency to your digital asset portfolio. While there are no guarantees when it comes to investing, NEO has the potential to offer strong returns due to its growing adoption and the increasing demand for decentralized finance solutions. 

To get started, all you need to do is sign up for an account and verify your identity. Once your account is set up, you can easily buy NEO using fiat currency or another cryptocurrency. eToro’s user-friendly platform makes it easy to track the performance of your NEO investment and make trades, and the platform’s security measures help ensure the safety of your funds. 

Whether you’re a seasoned investor or new to cryptocurrency, buying NEO on eToro is a great way to participate in the exciting world of digital assets and potentially earn returns on your investment.