What is Neo?
Neo is a Chinese-based blockchain platform and cryptocurrency launched in 2014. Originally known as AntShares, Neo has been widely referred to as the ‘Chinese Ethereum’. In this article we will learn Step by Step where and how to buy Neo
This is mainly because of the platforms ability to allow other decentralised applications to be created using smart contract code on the blockchain, much like Ethereum.
Where to buy Neo
For anyone that is unsure of how to buy Neo, the process is quite straightforward. First, you need to select an exchange platform that sells the cryptocurrency. There are several options to choose from, with some of the best exchanges including:
How to buy Neo with Bitcoin
Unfortunately, there is no way to buy Neo using dollars. However, you can buy the cryptocurrency using another more common crypto, such as bitcoin or Ethereum.
Bitcoin is probably the best option for beginner’s, as it’s simple enough to purchase and exchange for Neo. You need to visit an exchange platform to do this first.
How to Buy Neo on Binance
Step One – Registering with Binance
Before buying any bitcoin, register an account with Binance. This allows you to send your bitcoin directly to this exchange, making the process of exchanging bitcoin for Neo that bit quicker.
Simply register an account on Binance, log into your account after it’s confirmed, and select the deposit/withdrawal tab.
Select BTC from the options on this menu. You should then be given a deposit address to send your bitcoin.
Copy this address and keep the tab open – you’ll be coming back shortly.
Step Two – Buying Bitcoin at Coinbase
The easiest way to buy bitcoin is to visit Coinbase. It’s a popular website and one of the easiest for purchasing a variety of the most common cryptocurrencies, including bitcoin and Ethereum.
Register an account at Coinbase – be sure to bring some form of ID to verify all your personal information you register.
Coinbase accepts credit cards and bank transfers as payment methods, so it’s the easiest to use for beginners.
Also, the fact it follows strict rules regarding ID verification makes generally the most reliable and secure exchange site for this step.
After registering with Coinbase, take the following steps:
- Select the buy sell tab at the top menu
- Choose bitcoin (or Ethereum if you prefer) and choose an amount to spend in dollars
- Select the buy button and then confirm your purchase
- When you are at the payment option, you will be asked to provide a wallet address to store the bitcoin – copy the bitcoin address from your Binance account
Step Three – Buying Neo with Bitcoin Using Binance
Now that your bitcoin has transferred to your Binance wallet (it should take about 30 minutes at most) your balance should appear in your account.
This means you can exchange bitcoins for Neo using Binance. It’s quick and easy taking the following steps:
- Select trading exchange tab on the left side of the screen, click on basic
- Search for BTC/NEO on the search bar on the right side of the screen and hit select
- Look in the BUY NEO box found centre-left
- Enter how much bitcoin to use to pay for Neo
- Select the BUY NEO button
Your order should now be complete, having exchanged bitcoin for NEO. Your NEO balance will appear on the top right screen of your Binance account.
Now, you can store the NEO in a wallet of your choosing. It’s not a good idea to leave it in your online Binance wallet. Consider downloading or buying a more secure form of storage for your cryptocurrency
Neo has a list of compatible wallets for their cryptocurrency on their website, with mobile, desktop, web, and hardware recommendations available.
Also, learn how to buy neo on bittrex