www.banklesstimes.com
HomeCryptocurrency HubNEOHow to Buy NEO Online in 2022

How to Buy NEO Online in 2022

Last updated 30th Nov 2022
Disclosure

Neo (NEO) is a blockchain platform that many people like to call the “Chinese Ethereum”. It offers cheap and fast transactions for users all over the world. If you’re looking for more information on this cryptocurrency, then you’ve come to the right page.

In this guide, we cover how to buy and trade NEO, along with some other important considerations such as how to keep your accounts safe. Read on to find out more.

Best Brokers to Buy Neo in 2022

Given the rise of cryptocurrencies, there are plenty of platforms to choose from when it comes to buying. Picking the right platform for you can be a long and daunting process.

To save you time and effort, we have listed the top providers below to help you get started right away.

1
eToro
Minimum Deposit
$10
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

What Is the Difference Between Buying and Trading Neo?

In this section, we will discuss the difference between buying and trading Neo as oftentimes users get confused about what they mean.

Buying: Buying a cryptocurrency simply means using a cryptocurrency exchange or broker to purchase digital assets such as Neo. It is then up to you what you want to do with the assets. You can hold on for the long-term or use it to pay for other services.

Trading: Trading cryptocurrencies involves buying and selling crypto for profit, usually in a shorter period of time. If you use a broker, you can even speculate on the price without even owning the underlying asset.

How to Buy Neo Online?

Buying Neo is a relatively straightforward process that we have outlined below:

Step 1: Sign up for an account
Step 2: Verify your account
Step 3: Deposit funds
Step 4: Find the NEO markets
Step 5: Confirm the transaction
Step 6: Your account balance will have the NEO holdings

How to Trade Neo?

Trading NEO coin follows generally the process and the steps involved have been outlined for you below:

Step 1: Sign up for an account
Step 2: Verify your account
Step 3: Deposit funds
Step 4: Confirm the transaction
Step 5: Your account balance will have the NEO coins
Step 6: Enter the number of tokens you would like to sell
Step 7: Your account will show the USD with profits

What Are the Different Ways to Pay for Neo?

You can pay for the Neo coin through these methods:

Credit Cards: You can buy Neo Coin with fiat using your credit card. This popular method of payment is accepted by most crypto platforms.

Debit Cards: They work just like credit cards and are supported by most crypto brokers and exchanges as well.

ATMs: You can buy Bitcoin at a crypto ATM and exchange it for NEO on exchanges.

PayPal: Many platforms have now started accepting PayPal as a payment method so if you are familiar with this platform, you may want to check if the platform you have chosen accepts it.

Other Cryptocurrencies: Naturally, you can also trade one crypto for another on exchanges, e.g. NEO for BTC or vice versa.

What to Consider When Buying Neo?

Before investing in cryptocurrencies, there are some things you should keep in mind. Here are some important considerations:

Deposit Fees: Some platforms charge you fees when depositing funds. It may be worth looking around to find the best rates.

Trading Fees: Most, if not all, platforms charge fees when you buy or sell your tokens. Again, if you are going to be trading frequently, it’s worth finding platforms that suit your needs.

Volatility: Cryptocurrencies are volatile assets and this of course applies to NEO as well. Make sure you know what to expect before putting money on the line.

Regulations: Most reputable exchanges and brokerages require you to provide an ID when signing up for regulation purposes. Avoid platforms that do not ask this from you. Furthermore, make sure you check the laws on crypto in your country to ensure you stay on the right side of the law.

Long or short-term holding: Make sure you have a strategy in mind before investing. That way you can be better prepared if something goes wrong.

Is It Safe to Buy Neo Online?

When it comes to investing of any kind, there are risks involved and this is especially the case with cryptocurrencies.

Firstly, stick to regulated platforms, that way you’re more protected if something goes wrong.

Secondly, activate 2-factor authentication on all your accounts as this adds an extra layer of security.

Finally, if you have a substantial amount of money on these platforms, consider withdrawing and storing them in a private wallet so that your funds are unaffected if the exchange gets hacked.

How to Store Neo?

When it comes to storing NEO coins, there are two types of wallets you can choose:

Cold Wallets: Ledger hardware wallets support hundreds of cryptocurrencies including NEO. These are small flash-drive-shaped devices that require you to physically approve transactions before they are made.

Hot Wallets: These are applications that you can download on your phone or PC for free. When setting it up, make sure you keep the private keys safe as you need them to access your assets.

How to Sell Neo?

If you want to cash out by selling your NEO, you can do it through any of the following ways:

Exchanges: Using the same exchange where you bought your coins, you can sell them in a few simple steps. Sign in to the exchange, enter the desired amount you want to sell, and complete the transaction.

Broker: The steps are generally the same for brokers. Use the search bar to find the NEO markets and click ‘sell’. The USD should appear in your account balance shortly after.

P2P Service: You can sell your NEO coins directly to another person using peer-to-peer platforms such as Binance P2P. Just follow the onscreen instructions to get your funds.

Is It Worth Buying Neo Right Now?

Cryptocurrencies are highly volatile assets and NEO is no different. This means that the price of NEO can fluctuate significantly in a short period of time. That said, Neo has some hugely intelligent developers helping to build the project so it may have some room to grow in the long term.

Even though NEO is no longer as popular as it once used to be, the project still has a lot of support from the community. Of course, though, gains are not guaranteed.

Final Thoughts

The best way to buy NEO is using a cryptocurrency broker such as eToro as this allows you to speculate on the price of the coin without owning the underlying asset. That way, you can make gains if the price goes up without having to worry about the hassles of storing the assets or paying transaction fees to move them. Remember to activate 2-factor authentication on all your accounts and only invest with money you can afford to lose.

FAQs

Can I buy Neo in any country?
Is there a limit to how many Neo coins I can buy?
Can I buy Neo without an ID?
Can I buy Neo instantly?
What is Neo?
How does Neo work?

Find Out More About Smart Contract Tokens

Amala Pillai

Amala Pillai

Amala is custom content and news editor based in London. She is a former financial journalist based in Singapore with 7 years of experience covering a range of business and financial topics. Now she focuses on crypto and macro-economics. She has also covered feature profiles, tech, business politics and ESG— she was the Environment Editor for the Solutions Newspaper, 2016 and worked in an editorial capacity at both News corp (Dow Jones) and JBN. She also has experience as a content creator, strategist and brand editor for various financial institutions and banks.