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Learn the Most Important Information about China Ethereum - Neo

02/19/2019
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The cryptocurrency market is growing rapidly. This can be said for sure not only because the prices for digital currencies are rising but also by a wide variety of different assets. Now, to earn on tokens and coins, it is not necessary to invest in Bitcoin or Ethereum. You may still try chasing something less popular and make more money. In this article, we will tell you about NEO. Who came up with this asset, what do its cost and prospects depend on, how to buy NEO and other information.

Creating NEO: A Brief History

Let's start with the inception of the project. The NEO coin appeared on the market in 2014. However, at that time, it had a completely different name - Antshares (denoted as ANS on crypto-counterpart). But at the end of 2016, the management decided to modernize the brand and changed its name to the current one. Da Hongfei is the creator of NEO. This is a well-known programmer in China who is well versed in the blockchain system. In addition to him, the team employs another 15 people. Developers offer users to work freely and help with the development of the project, rewarding successful ideas with NEO tokens.

The company that manages the actions of programmers is called OnChain. A well-known organization that specializes in blockchain-based startups. The main ideas of the NEO project can be described as follows: creating a full-fledged financial and economic system based on digital currencies. And the creators do not support the anonymity of payments and try to legitimize all work with cryptoactive assets. This, by the way, makes NEO a promising currency for integration into the Chinese financial system at the official level.

Technical Analysis of NEO

Now let's try to figure out the difference between NEO and other similar coins. After all, for trade or investment in these coins, you need to know about its profitable sides. On the official website of NEO, you can find information that the digital economy of the future will be based on three aspects:

  • Smart contracts to regulate financial transactions between users;
  • A new kind of digital money;
  • Blockchain as the basis of the created product.

All digital assets of NEO can be divided into two large groups. The first assets can be called global - they can be recognized by all existing smart contracts and users, as they will be brought into the common information space. Another type of NEO assets is contractual. Identification will require certain standardized conditions. And they will be recognized in private form. NEO will stay relevant because of its open source code. This allows the project's ecosystem to be improved and scaled, enabling new programmers to participate in the development of a new economy. The company not only encourages enthusiasts, but also conducts training seminars, and produces specialized materials for new employees.

NEO's technical analysis allows to highlight the following opportunities that this coin has today:

  • Work with coins. The owners of the NEO token can sell, buy or exchange currency at their discretion;
  • Official certificates. These are legal documents that can be issued directly via the Internet. Users can identify the transaction and add it to the general register in order to formally legitimize any transaction;
  • Smart Contracts. The generation of smart contracts is a great opportunity to work with finances between any users on the Internet. In addition, it is possible to work with this technology in various programming languages, which expands the capabilities of users;
  • Currency exchange. The NEO analysis showed that coin owners can exchange assets among themselves without intermediaries;
  • Virtual machine. This technology allows you to build a secure way to develop applications for NEO quicker than before;
  • The possibility of infinite asset scalability. In fact, due to the deterministic technology NEO cryptocurrency does not need scaling at all. The virtual machine can be enhanced with JIT. This will create a better, optimized NEO system;
  • The implementation of the exchange in various chains. Yes, NEO transactions can be conducted simultaneously on different networks, thanks to the NeoX technology. This is a specially designed protocol that combines various networks and ensures that all financial transactions in them are carried out.

The list of NEO’s benefits is impressive, but NEO analytics also shows that this token cannot be considered ideal. We have identified some of the shortcomings of the system, which can not be ignored:

  • The NEO network is centralized. This, by the way, is rare for this kind of currency. Almost all sites-bookkeepers with information in the blocks are owned by the OnChain company. Although the developers promise to introduce the ability to create secure sites, at the moment users do not have such an option;
  • The lion's share of assets is concentrated with the creators of the coin. This will allow them to manipulate the market and NEO trading cannot be completely safe;
  • The dBFT consensus algorithm is a technology that was previously used only in frequent blockchains. Public networks prefer to create under other conditions. And this is done for a reason. Of course, the nodes that belong to OnChain will be sufficiently protected (why should companies fool themselves?). But no one can guarantee the safety of other independent nodes;
  • A small minus, but still. Developers do not share their plans for the future. This can be a problem when investing in NEO;
  • We have already said that the creators of Coin seek to legislate their activities. And this eliminates the anonymity of users, which is contrary to one of the main ideas of cryptocurrency.

Yes, NEO has its own cons, however, developers continue to work on improving their product. And, perhaps, some of the shortcomings will soon be eliminated.

NEO’s Price

Today, the NEO capitalization is $2,130,362,000 - this figure is gradually increasing with each week. Cryptoactive takes the 12th place among all digital coins in terms of investment volumes. Now you can buy one coin for $32.77. The price of the asset began to rise in the summer of 2017. However, the largest jump in the NEO price occurred not long ago: in January 2018, it was possible to sell coins for $162 each. After that, the course normalized. Now the value of the coin is gradually dropping. But this does not mean anything - often the cost of crypto money increases over a short period several times. And up to this point, it is better to make investments in NEO.

Where to Get NEO

To earn or buy assets, you need to use one of the ways of acquiring any coin. Here are the best options for those who want to quickly invest in NEO:

  • You can buy cryptocurrency in exchange sites at any time. This can be done without registration - just look for a profitable course with a minimum commission and carry out the transaction in seconds;
  • A better option is to buy Coins from private individuals. But this is an unsafe way to make money - you may simply be deceived and left without the coins you bought;
  • Cryptocurrency exchange - another good option, if you are not in a hurry with the purchase of tokens. Before you buy NEO, you will need to find a good crypto-exchange, register, then deposit money into the account, make an exchange and withdraw funds. This can take quite a long time.

If you are not in a hurry, choose cryptographic trading. This is beneficial because the commissions on these resources are quite small.

Top 5 Cryptocurrency Exchanges for NEO Trading

  • Binance

If you were once interested in trading on exchanges, then you know about this resource. This is a great site with all the necessary tools for work. You can use margin trading to increase your profit. True, you can not use fiat money on the resource. To purchase, you have to transfer fiat money to other assets on a third-party service.

  • Bit forex

The Chinese market where NEO trading is quite comfortable. The advantage in low commissions will save quite a lot of money when buying or selling currency. A nice interface and various trading tools will increase your profits. Among the shortcomings is the unreliability of the platform. There is no exact information about the founders of the company.

  • CoinEx

A very young stock exchange, which appeared on the market at the end of last year. But today tens of thousands of traders already trade on it and there are reasons for it: low commissions, the ability to use a large number of crypto-pairs and a pleasant interface - all this allows you to work on the site with pleasure.

  • Bitfinex

Excellent resource for trade. The site has multiple-language support, as well as a special mobile application. A considerable plus is that no one has ever hacked the stock exchange - the security system of the site is very good. You can also find some shortcomings: a rather complicated verification process, as well as rather high commissions in comparison with other platforms.

  • HitBTC

The well-known exchange for trading cryptocurrency allows you to store NEO, as well as trade in these assets. Moreover, you can exchange coins for dozens of different types of cryptocurrencies, as well as for fiat money. A good security system, a browser-based version for smartphones, a multifunctional site, and other benefits will be offered to each user. Of the minuses - the support service does not respond as quickly as one would like.

Where to Store NEO

Before investing in any crypto money, you need to take care of the place where all your savings will be saved. Moreover, the situation of users may be completely different and based on the specific case it is worth choosing different types of digital wallets. We suggest you consider the following options for storing your savings in NEO currency:

  • Cold wallets. A great option for those who invest money in tokens and are not going to use them very often. After all, the coins will be stored on your computer and you will need to spend the time to transfer them to the network. But this will provide you with maximum data security - no one can withdraw your savings from outside;
  • Hot wallets. This option is not so reliable, but more convenient. If you are going to trade NEO every day, then it is better to have a part of investments online. This wallet invites you to store NEO right on the web and use coins at any time. You can use both specialized services and other sites as such wallets - for example, cryptocurrency exchanges, which we have already mentioned;
  • Hardware wallets. A great option, although not so cheap. Users can buy a separate device for storing and quickly using digital currencies. This is a kind of wallet that looks like a flash drive or tablet. Typically, it is possible to store various types of crypto-money on such devices, including the NEO currency.

Now let's move from theory to practice. The official NEO website has links for downloading wallets that were created by the development team. Typically, such resources are most suitable for storing coins. You can download the Official NEO wallet to your computer if you have a Windows operating system. If you use any other software, you should use another wallet. For example, the NEON Wallet supports other systems. NEO Tracker Wallet allows you to store Coins right on your online wallet. To do this, just go to the site from the browser of your computer.

Conclusion

It’s not possible to tell exactly whether it is profitable to buy NEO, whether the rate of cryptocurrency will rise in the future or whether their price will increase. However, it’s possible to identify some prerequisites for asserting a good future for this coin:

  • Good development team. This is very important as users can be confident that the project will continue to work;
  • Attempts to create a legal market. The creators strive to maintain relations with the authorities at the legislative level, which eliminates the risk of closing the coin due to external reasons;
  • Now we can say that NEO is a high-tech development, which has its own unique features that are valuable in the market segment.
  • During its existence, NEO has always been at the 8-12 position on capitalization among all cryptocurrencies. These are fairly reliable indicators.

These factors suggest that the course forecast and prospects can be very encouraging for NEO. But, again, the cryptocurrency market is too young to talk about any prospects with complete confidence.

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