So you have read up on NEO and think it will go to the moon. You are likely to have two simple questions: How to buy NEO and where to buy it? In this article we will show you our favourite ways to buy NEO.
- 1 Are You Too Late To Buy NEO?
- 2 How High Could NEO Go?
- 3 How To Buy NEO – Our Top 3 Ways Explained
- 4 Create a Coinbase Account
- 5 My Coinbase Account Is Locked & Loaded. What Now?
- 6 Setting Up A NEON Wallet
- 7 Create A Binance Account
- 8 Transferring Your Bitcoin Or Ethereum From Coinbase To Binance
- 9 How To Trade Bitcoin or Ethereum For NEO On Binance?
- 10 How To Get Your NEO Off The Binance Exchange
- 11 The Easiest Way To Buy & Sell NEO
- 12 I Want To Trade NEO But It Seems Complicated. Can I Get Help?
- 13 Conclusion
Are You Too Late To Buy NEO?
The first thing to know is that NEO only ICO’d on the 8th August 2017; it simply has not been tradable for very long at all. The coin first hit exchanges on 9th September 2017 and was priced at just 18 cents a coin. Since then, the project has seen a meteoric rise and hit an all time high of $191.85 a token on the 15th January 2017 and, at the time of writing, is trading at just $52.48 per coin. At Total Crypto, we always like buying coins at significant discounts from their all time highs and we are getting a pretty phenomenal discount on NEO right now.
The project is commonly referred to as ‘The Ethereum Killer’ or ‘The Ethereum of China’. It is still early days, but NEO already has a working product and is competing with Ethereum (unlike some of its competitors eg EOS and Cardano). The ecosystem is only in its infancy and it is already the biggest cryptocurrency to come out of Asia. We are super excited about the smart economy NEO is building and the speed it is doing so.
In short, you are not too late to buy NEO. The important thing is to choose your entry point wisely and acquire your coins at a reasonable price.
How High Could NEO Go?
Genuinely, this could be a 140 billion dollar question. The truth is no one knows what a cryptocurrency will be worth in the future. It’s possible that NEO will be worth nothing.
The way we try to value a cyptocurrency’s potential, is by looking at the market it is trying to get market share in. NEO is a decentralised application developer platform that supports smart contracts. This means that they have a public blockchain that application developers can build their apps on. This means that Neo is battling with Ethereum for this market.
Ethereum had an all time high market cap of $139 billion on the 13th January 2018. For fun we will assume that the overall cryptocurrency market doesn’t grow beyond its current all time high, that NEO takes 100% of Ethereum’s market share and valuation. In this scenario what would one coin be worth?
If NEO becomes the smart economy of the future and is widely adopted, there is the potential to see much greater returns. It all depends on if blockchain and smart contract technology is adopted by the world at scale.
We have no idea what NEO could be worth in 5 years time. What we do know is that if they are successful in creating a new smart economy, then even one coin will be exceptionally valuable.
How To Buy NEO – Our Top 3 Ways Explained
We have done the research on how to buy NEO down in the Total Crypto sweatshop – so you don’t have to. It’s completely your decision which option you think is correct for you.
- Our first option is ideal for anyone who are dipping their toes in the cryptocurrency markets for the first time and who want to buy NEO with fiat currency. This method will also show you how to store your coins safely. This will involve creating accounts at Coinbase and a cryptocurrency exchange. We will also show you how to set up a NEO wallet.
- Our second method is for those that already own Bitcoin or Ethereum and want to trade their crypto for NEO. We will show you the easiest exchange to use.
- The final method to get exposure to NEO is through a CFD Broker like eToro or IQ Option. This is actually the easiest way to get exposure to NEO, as you only need one account and can deposit fiat currency directly.
Buying NEO With Fiat
If you want to properly own and store NEO, you will need to soldier on through the whole guide. If you are looking to trade the coin or simply want the most straightforward to get exposure to NEO and do it though a single account, just skip ahead to the section: The Easiest Way To Buy & Sell NEO.
Buying NEO With Crypto
Just skip everything to do with Coinbase. We know you are likely already a Coinbase veteran.
Create a Coinbase Account
Coinbase Key Facts
- Established Track Record: Coinbase was founded in 2012 and is the world’s most popular cryptocurrency exchange.
- Serious Backers: Venture capital firm IVP, who were involved in the latest funding round, have been early investors in businesses like Netflix and Twitter. Other investors include companies like the New York Stock Exchange.
- Easy To Use: Coinbase is renowned for it’s easy to use interface. This makes it the perfect exchange for cryptocurrency newcomers.
- Small Minimum Deposit: You can invest as little as €6 into cryptocurrencies on Coinbase.
- Regulated: Coinbase is one of the few cryptocurrency exchanges to be regulated.
- Insurance: Customer funds are insured and segregated. US customers are even insured up to a balance of $250,000.
- Deposit Methods : Credit / debit card, bank transfer and PayPal for US customers.
- Tradable Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
- Customer Support Methods: Email and FAQ’s.
Looking to invest more than $100 in NEO by using Coinbase? Good news! You will also get $10 FREE by signing up through Total Crypto!
My Coinbase Account Is Locked & Loaded. What Now?
Well played on getting the first step out of the way. The bad news is that you cannot buy NEO directly through Coinbase and you will need to use a cryptocurrency exchange to get your hands on that elusive NEO. To do this, we need to convert our money into either Bitcoin or Ethereum. We will trade this for NEO on a cryptocurrency exchange later.
The fastest way to buy Bitcoin or Ethereum on Coinbase
- Head over to the ‘Buy/Sell’ page on your account.
- Add a payment method to your Coinbase account.
- Choose your deposit method: You can deposit a ‘Bank Account’ transfer – this method has lower deposit fees, but the transfer takes between 2 and 5 days to be credited to your Coinbase account. Or you can deposit instantly through a Credit/Debit card. With either method, just enter your payment details and process the transaction to fund your account. Once submitted, sit back and wait for the credit to be applied to your account. You will get an email to telling you when your deposit has been successful.
- Once your account is funded, select Bitcoin or Ethereum in the ‘Buy/Sell’ section of Coinbase.
- Enter the amount of crypto you want to buy.
- Select the currency wallet you deposited funds into as your payment method (we have used EUR in this example).
- Complete your order by clicking buy.
Check out our Coinbase guide if you are interested in buying Ethereum and Bitcoin on Coinbase with the lowest fees possible. It does take a bit more time though and involves transferring your funds to Coinbase’s sister exchange GDAX and buying your crypto there instead. We do recommend using GDAX and saving yourself some fees.
Once you have your ETH or BTC in your Coinbase account move onto the next step.
Setting Up A NEON Wallet
NEO has its own blockchain and wallet. We recommend you use the NEON wallet, developed by the City of Zion (a group of developers backed by The NEO Council). By storing your coins in a NEON wallet, you will ensure you get your GAS dividend. We have prepared a separate article showing you how to set this up and store your NEO securely.
Create A Binance Account
So, you should have some Ethereum or Bitcoin on Coinbase and have set up your NEON wallet to store your coins. The most popular cryptocurrency exchange for NEO is Binance. This is perhaps not surprising, seeing that Binance is the most popular cryptocurrency exchange in the world. The next step is to create an account at Binance and we can then finally get our hands on some NEO.
Binance Key Facts:
- Largest In The World: Binance is the biggest crypto to crypto exchange in the world!
- Huge Selection Of Cryptocurrencies: Binance offers you the opportunity to get your hands on over 100 different cryptocurrencies. Ripple is one of them.
- User Friendly: The crypto to crypto exchange is the simplest we have ever used. We think this has been one of the main factors leading to Binance’s explosive growth.
- Customer Support: Binance offers email multi language support for 🇺🇸 🇨🇳 🇯🇵 🇰🇷
Get NEO on the world’s largest crypto to crypto exchange.
Need help setting up a Binance account? Just checkout our Binance guide.
Transferring Your Bitcoin Or Ethereum From Coinbase To Binance
You should have your Binance account good to go now. Whether you have your Bitcoin or Ethereum on Coinbase or in another wallet, you will have to send your funds to Binance to trade this for NEO.
- Login to your Binance account.
- Select “Funds” and click “Deposit”.
- Make sure that you select Ethereum if you have Ethereum on Coinbase or Bitcoin if you hold BTC. If you send to the wrong wallet you may lose your funds!
- You will then see your deposit address for Binance. Just copy this address. We have used Bitcoin as an example.
- Login to Coinbase and go to the ‘Accounts’ tab.
- Click the send button for whatever cryptocurrency you hold.
- Paste your Binance deposit address into the ‘Recipient’ wallet address box and enter the amount you want to withdraw.
- Hit continue and finalise the transaction. Your Bitcoin and Ethereum should show up in your Binance account shortly.
Got Crypto In Another Wallet?
- Simply send your crypto to your Binance deposit address.
How To Trade Bitcoin or Ethereum For NEO On Binance?
It’s the moment you have been waiting for. Now we will finally get our hands on some NEO.
- Go to the Binance homepage and select ‘BTC Markets’ if you have Bitcoin on Binance or ‘ETH Markets’ if you have Ethereum. Then just search NEO in the search bar and click the NEO/ETH or NEO/BTC market.
- You will then see a trading screen. At first glance it may look tricky but don’t be put off, we will show you what to do. Just select the ‘Market’ tab (this enables you to buy at the market price). Then enter the number of coins you want to buy. You can also use the percentage buttons to use a certain percentage of your balance on Binance to buy NEO.
- Once you have clicked ‘Buy’ your trade will be processed and your NEO will be credited to your Binance account.
How To Get Your NEO Off The Binance Exchange
So, we have finally got our NEO. The question now is how we are going to store them? You could keep your coins on Binance. However, we recommend storing it in your own personal wallet and having control over the private keys. The reason is that cryptocurrency exchanges are big targets for hackers and that storing NEO in your own wallet means there is no third party risk.
- Go into your NEON wallet and copy your public address.
- Login to Binance.
- Navigate to ‘Funds’ and hit the ‘Withdrawals’ button.
- Select NEO from the dropdown. Then just paste in your public NEON wallet address as the withdrawal address and enter in the amount you want to withdraw.
- IMPORTANT: NEO is not divisible by anything less than 1. Ensure you withdraw round numbers, otherwise you will lose your excess coin.
- Once you click submit, your coins will then be sent to your NEON wallet.
💡 Note: Binance will not charge you a fee to withdraw NEO off the exchange.
The Easiest Way To Buy & Sell NEO
Do the other methods to buy NEO seem too complicated or long winded? Maybe you want to trade instead? If so, then IQ Option and eToro could be the perfect options for you. IQ Option and eToro are both contract for difference brokers. In short, this means you will not directly own or have to store NEO. Instead you are buying and selling contracts that are backed by NEO. This means you get all the exposure to the price movements of NEO, can do this with a single account and not have to worry about cryptocurrency storage considerations.
The Benefits of IQ Option
- Unlike other cryptocurrency exchanges, IQ Option is regulated.
- There is a much wider array of deposit options Vs. somewhere like Coinbase. If you want to get exposure to NEO using payment methods like Skrill or Neteller, then IQ Option is for you.
- We find customer support to be much better at IQ Option than other cryptocurrency exchanges.
- On CFD brokers like IQ Option you don’t have to worry about crypto storage considerations such as setting up wallets.
IQ Option Key Facts
- Established – IQ Option was founded in 2013.
- Global Presence – IQ Option has an astonishing global presence, serving 231 countries and counting. With over 25 million registered users, you know you are in safe hands with one of the largest CFD brokers out there.
- Tradeable Cryptocurrencies – IQ Option has the largest range of crypto currencies offered by any CFD broker we know. These include: Ripple, Bitcoin, Bitcoin Cash, Litecoin, Neo, Stellar, EOS, Dash, Ethereum Classic, Tron, OmiseGo, Qtum, Zcash and Bitcoin Gold. This makes IQ Option the perfect choice for anyone who might be interested in the opportunity of investing in a wider range of cryptocurrencies.
- Lowest Min Deposit Requirement – IQ Option gives everyone the chance to participate in cryptocurrency trading. It’s $10 minimum deposit limit is the lowest out of all the CFD brokers by a country mile.
- Deposit Methods – IQ Option supports the following deposit methods: Visa, Visa Electron, Maestro, Mastercard, wire transfer, CashU, Skrill Netller, Webmoney, iDeal, Fasa Pay and Boleto.
- Customer Support Methods – Phone, post and email.
Heard Enough? Start Buying & Selling NEO On IQ Option Now!
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
The Benefits of eToro
- Get exposure to cryptocurrencies on a fully regulated platform.
- Solid customer support.
- No need to store your cryptocurrency investments in crypto wallets. This means you can just focus on making profitable decisions.
- Social trading enables you to copy the portfolios of successful traders
eToro Key Facts
- Established Track Record – Etoro was born all the way back in 2007.
- Popular – with over 6 million registered users eToro has quite the trading community.
- eToro is Different – eToro mixes things up by offering social trading opportunities. You get the chance to see the strategies of trading experts and follow them. Thousands of people on eToro copy the
- Insurance – Balances on eToro are covered by the Financial Services Compensation Scheme. This means that customer balances are insured for up to £50,000.
- Deposit Methods – Supported deposit methods and minimum deposit limit is $200 > $500 depending on method:
- 🇬🇧 Credit / Debit card (Visa, Mastercard, Diner’s Club), Neteller, Skrill & Webmoney.
- 🇭🇰 China Union Pay
- 🇩🇪 Giropay (Sofortüberweisung)
- 🇱🇺 Webmoney
- 🇷🇺 Yandex
- 🌍 Wire Transfer
- Deposits – €2,000 max deposit for unverified accounts.
- Tradeable Cryptocurrencies – Ripple, Dash, Neo, Ethereum, Stellar, Bitcoin, Ethereum Classic, Bitcoin Cash & Litecoin.
- Leverage – eToro doesn’t offer any leverage for crypto trading.
- Customer Support Methods – eToro Friends, Facebook and email.
Like The Idea Of Copying Successful Investors Crypto Portfolios? Get Started On eToro Now!
Need help getting started on eToro? Our step by step guide shows you how.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
I Want To Trade NEO But It Seems Complicated. Can I Get Help?
We understand that trading can be daunting for beginners. We have prepared some resources to help up your trading game.
We cannot emphasise enough how important it is to know what you are doing before placing your first trade on a CFD broker. You are risking real money and it is wise to make informed decisions.
There you have it: our top 3 options to buy NEO. The Total Crypto Team is exceptionally excited about NEO’s ambition to create the new smart economy. Currently NEO can process more transactions per second than Ethereum. We are very interested to see if the project can take market share from Ethereum. This would involve applications currently built on Ethereum moving over to NEO and NEO being the platform of choice for more ICOs.
We know that EOS and Cardano will enter the application developer platform space in the near future and we expect there to be quite a battle. But right now, we reckon that NEO will a least win the Asian market.