Our NEON wallet guide will show you how to setup the most popular NEO wallet, how to claim your GAS dividend and finally how to store your NEO assets in the safest possible way. NEO is an up and coming application developer platform that has begun to compete with Ethereum for ICOs. This means more and more cryptocurrency investors have needed to setup wallets like the NEON wallet and we expect this trend to continue throughout 2018.
Contents
What Is The NEON Wallet?
The NEON Wallet is a free method to store and manage your NEO and NEO based tokens. Storing coins in this wallet also ensures that you get your GAS dividend for NEO coins and enables you to participate in NEO based ICOs.
It was created by the CityOfZion, a group of developers backed and endorsed by the NEO Council.
Private Key: Think of this as a complex password that proves you own the tokens and are authorised to access them. It’s exceptionally important you never share this with anyone. If anyone finds out your private key they can access your crypto and do whatever they choose. A private key is essentially the same as the pin to your bank account; you should treat it the same way. You get one private key. Do not lose it. Otherwise you will likely lose access to your cryptocurrency.
How Do I Find Out If I Need A Neon Wallet?
To do this, simply:
- Head over to Coinmarketcap.com, click the ‘Tokens’ tab and select ‘Full List’.
- Then just hit control F on your keyboard to bring up the finder in your web browser and type in the name of the cryptocurrency you wish to check. In this example, we will see if DeepBrainChain is built on NEO and if we need a NEON wallet to store it.
We can now see that we need NEON to store DeepBrainChain off an exchange.
How Do I Setup A NEON Wallet?
The first thing you want to do is to go to the CityOfZion Github and download the latest version of the NEON Wallet. The guys at the CityOfZion have ensured that MAC, Windows and Linux versions are avaliable. Simply select the download compatible with your operating system – in this example we will use MAC.
- Once the download is complete, we need to make sure it’s installed properly. With MAC, we just move the wallet to our applications folder.
- You will then see the NEON in your applications folder.
- If you try to open the application, do not be alarmed that your computer will say it’s from an unidentified developer.
- To enable the official wallet just hit system preferences and click ‘Security & Privacy’.
- Once you have drilled into ‘Security & Privacy’, you will see a message that NEON was blocked. Just hit ‘Open Anyway’.
- Once opened you will see the home screen. Just click ‘Create A New Wallet’.
- You will be prompted to create a passphrase. This protects your NEON wallet. We recommend you use a super strong password.
- Next you will get your NEON details. We recommend printing out a copy as a backup and storing this securely.
- Exit the application and reopen it. Then just hit ‘Login Using A Saved Wallet’.
- Simply choose your wallet from the dropdown and enter your passphrase to login.
- Congratulations, you are now ready to go!
How Do I Use My NEON Wallet?
Fortunately the guys at the CityOfZion have done a great job in creating a user friendly design. We will quickly go over some basic wallet functions and show you how to use it.
How To Receive NEO Tokens Or Coins?
To receive NEO or tokens built on the platform you need to find out your public address. Simply hit the ‘receive button’.
You will then see your public address. Just copy and paste this address to send NEO, GAS or NEO based tokens to your wallet.
How To Send Funds?
- Just click the send button on the home screen.
- You will then see a screen for you to enter the recipient address, the asset you want to send and the amount. Then click next and your funds will be sent.
How To Claim NEO GAS & Find Your Tokens?
To claim your GAS dividend, just click the arrow icon and this will be credited to you. If you send NEO based tokens to you wallet, these will display in the token and balance section.
Can You Make NEON More Secure?
The free NEON wallet is a great way to manage your NEO and NEO based assets. However, we are aware that some investors will only be interested in the best possible security. To get this, you will need a to combine NEON with a hardware wallet.
What makes a hardware wallet secure? These devices store your private keys and keep them safe from keyloggers and phishing attempts.
Fortunately for us, Ledger has come to the rescue by offering NEO support. Ledger are renowned for their excellent security and are highly regarded in the cryptocurrency community. We use one ourselves to store our coins and thoroughly recommend it.
How Do You Make Ledger Work With NEON?
The first thing you want to do is to ensure that the NEO App is installed on your Ledger.
- Make sure you have installed the Ledger Manager App and your hardware device is plugged into your computer.
- Install the app on your device.
- Select the NEO app on your Ledger.
- Open up the NEON application and click ‘Login Using A Ledger’.
- You will then see a login screen and you should be able to see that your Ledger and the app has been found. You can then login to your wallet.
Congratulations, you have done it!
Not Got A Ledger Nano S Yet? Want To Store Your NEO In The Safest Way Possible?
2) Heard About Insane ICO Gains? Want To Learn More? Just Jump Into Our Beginner’s ICO Guide. 3) Interested In Trading NEO? Check Out Our Beginner’s Guide To Crypto Trading.
Useful Links
- NEO To Gas Calculator – used to calculate much much GAS you will receive in dividends.
- Blockexplorer – Used to check transactions.
- Coinmarketcap – Used to check which tokens are compatible with NEON.
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