NEO cryptocurrency is widely considered as “Chinese Ethereum” because it, like Ethereum, is aiming to build a platform on which other DApps or Decentralized Applications could be built by letting users execute smart contract code on their Blockchain. In fact, the first ICO on the NEO blockchain Red Pulse Token (RPX) was announced soon after the rebranding finished. NEO cryptocurrency is often referred to as “Ethereum’s Killer”.
There are two major ways to buy NEO cryptocurrency. First would be simply buying from someone who already possesses NEO coin and paying them in fiat currency.
Second way of buying NEO cryptocurrency could be buying it from cryptocurrency exchange platforms like Bittrex, Binance,etc. In this article, I have listed down the steps to buy NEO Cryptocurrency from Bittrex. Mostly all the below mentioned steps remains the same for other cryptocurrency exchanges as well. However, any individual crypto exchange may have some additional steps.
Steps To Buy NEO Cryptocurrency From Bittrex Cryptocurrency Exchange
- Step 1:Visit Bittrex and set up an account
- Step 2: Deposit Bitcoin or Ether to your Bittrex Wallet. ( Bitcoin wallet has it’s own wallet address and Ether has it’s own seperate wallet address)
- Step 3: Buy NEO in exchange of Bitcoin/Ether
- Step 4: Send NEO to Neon Wallet and earn free GAS tokens by just holding NEO cryptocurrency
Now let’s explain you in detail about each and every step for a hassle free way to buy NEO Cryptocurrency
Step 1: Setting up a Bittrex Account
- Create an account with valid username and password as directed on the registration page. After registering, you would be required to verify your e-mail id.
- After e-mail verification, log in to the platform, go to “Settings” at the top right corner of your screen and do additional verification.
- After you complete the basic requirement, you will be also needed to verify your phone number as this will be required if you want to withdraw/send out your NEO cryptocurrency to any other wallet.
NOTE: I strongly recommend you to activate Two-Factor authentication (2FA) to your Bittrex Account. 2FA adds additional layer of security to the account. Make sure you keep a backup of the 2FA phrase before activating it.
Step 2: Deposit your Bitcoin/Ether To Your Bittrex Wallet
- On Bittrex, go to your top right-hand corner tab, labeled “Wallets.” and click there.
- The cryptocurrency you plan to fund with will determine your next action, if Bitcoin, click on the “+” symbol by Bitcoin. Do the same if you are planning to deposit Ethereum.
- After a few minutes, the platform will generate a wallet address associated with your account. When that is displayed, copy it and go to your wallet where you have Ether or Bitcoin stored. Paste the Bittrex wallet address and send the desired quantity. You can also scan and send instead of copying,pasting the address.
- After a successful transfer, give some time for your Bitcoin or Ether to get credited in your Bittrex Wallet.
Step 3: Buy NEO on Bittrex
- Once your Bitcoin or Ether is successfully transferred, you can easily view to confirm that in your “Wallets,” you are good to start the process of purchasing some NEO coins.
- Click on Bittrex logo; this will take you to the page where you see all market assets available.
- Click on either BTC-NEO or ETH-NEO depending on what you funded your account at Bittrex.
- Locate the “Trading” section on the page and in the Buy NEO box, enter the units of NEO you will like to purchase in the Unit Box. Add 0.025 units to whatever quantity you are purchasing as this is Bittrex withdrawal fee. It would be charged when you want to transfer your NEO out to your NEO Wallet.
- Right in front of bid label, click on the price drop down and choose bid option.
- Once the Total section for Bitcoin or Ether auto fills, click on the Buy NEO button at the bottom of that section.
Step 4: Earn Free GAS by holding NEO Cryptocurrency
- For this, you will be needed to transfer the NEO funds from Bittrex to Neon Wallet or any other official NEO Wallets.
- A great tool to check what your earnings would be for just holding NEO is NEOtoGAS
- You can also keep NEO on Binance exchange and free gas. Or instead, you can buy NEO Cryptocurrency from Binance and hold it there. The above mentioned steps can be followed to buy NEO cryptocurrency from Binance Exchange as well.
Cryptocurrency Exchanges Supporting NEO
Apart from Bittrex and Binance, you can buy NEO from following cryptocurrency exchanges:
Hope the step by step guide helps you buy NEO on Bittrex.
Where To Store NEO Cryptocurrency?
There are a number of ways to protect your NEO coins by storing it in the official NEO Wallets. Here is a short list of NEO Wallets:
- For Neo Desktop Wallet, use NEO GUI, NEON Wallet, NEO CLI.
- For Web Wallet, use NEOWallet.Net, NEOWallet.CN, and the NEO Tracker.
- For Mobile Wallet, use O3 – Neo Wallet
- For Paper Wallet, use the Ansy.
To read full details about the above mentioned NEO wallets, read:- List of Best NEO Wallet To Safely Store NEO Cryptocurrency And Gas Coin
KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology, Cryptocurrencies and upcoming ICO’s.