What Is NEO?
NEO is one of the fastest growing cryptocurrencies, having achieved a whopping 49,000% growth between January and December 2017. No wonder the question “What is NEO?” is popping up everywhere.
NEO is often described as the “Ethereum killer” or the “Chinese Ethereum,” but there is a lot more to it than being a copycat. In fact, NEO describes itself as a “distributed network for the smart economy” with a goal to convert traditional assets into digital ones using smart contracts.
The great thing about NEO, unlike other smart-contract platforms, is that you doesn’t have to learn a new smart-contract language. You can use “C#,” “Java,” or any other mainstream programming language to code the smart contracts.
NEO has two tokens in its ecosystem: NEO (formerly called Antshares) and GAS (formerly called Antcoins).
Below we’ll focus more on how to select the best NEO exchange and how to trade NEO and GAS.
Factors for Selecting the Best Exchange to Buy NEO Coin On
Selecting an exchange for NEO is no different than selecting an exchange for any other cryptocurrency. The following are the factors to consider.
It’s good to know things like the name of the founder, location of the exchange, and the market it focuses on. The location of the exchange is important because every country has (or will eventually have) a different set of laws regarding cryptocurrencies.
Supported Currencies and Liquidity
It’s important for the trader to ensure that the exchange not only trades in NEO, it supports the trading pairs you want. For example, if you are interested in trading NEO for Ethereum (ETH), the exchange should support the NEO/ETH pairing.
To further narrow down your options, select the exchange with the highest liquidity (highest trading volume). However, remember that high liquidity often has a negative bearing on transaction times.
Ease of Use/User Experience
Choose exchanges that have user-friendly interfaces, quick loading times, and support for mobile devices. Check NEO blogs and forums. The best NEO exchanges are likely the ones with the fewest complaints.
Usually, an exchange charges a small percentage of the amount traded as a transaction fee. In some exchanges, the percentage is linked to the volume of monthly trading. These are the exchanges you should select, because the decrease in percentages can save you a lot of money as you start trading more.
Since NEO is a little more complicated than ordinary cryptocurrencies, new traders can be clueless about the simplest of processes. An experienced customer support team can save a lot of time, GAS, and money.
Even the best exchanges are at risk to hacker attacks. Look for exchanges that offer more cybersecurity features.
In addition to the above factors, a good NEO exchange should have the added advantage of claiming GAS on the stored NEO funds.
Trading NEO and GAS: NEO Exchanges List
There are many exchanges that allow you to trade NEO and GAS, but note that not all of them allow you to claim GAS.
The NEO exchanges list below shows which currencies each exchange allows you to trade NEO with. The exchanges with “(+ GAS)” indicate that they also support GAS.
- AllCoin: Bitcoin (BTC)
- AnycoinDirect: euro
- BigONE: BTC
- Binance: BTC, ETH (+ GAS)
- Bitfinex: U.S. dollar, BTC, ETH
- Bittrex: BTC, ETH, USDT
- BCEX: BTC
- Changelly: Multi
- CoinEgg: BTC
- CoinNest: South Korean Won (+ GAS)
- CoinSpot: Australian dollar (+ GAS)
- CoinSwitch: BTC
- CoolCoin: BTC
- Cryptopia: BTC, Litecoin (LTC), Dogecoin
- Cryptomate: U.K. pound
- Exrates.me: BTC, USDT
- Gate.io: USDT (+ GAS)
- HitBTC: BTC, ETH, USDT
- Huobi: BTC + GAS
- KuCoin: BTC, ETH, USDT, Kucoin Shares (KCS) (+ GAS and NEO quote currency)
- LBank: BTC
- OKEX: BTC, ETH, USDT (+ GAS)
- Poloniex: (GAS only) BTC, ETH
- Quoine: BTC, USDT
- ShapeShift: Multi
- TDAX: Thai baht
- UpBit: KRW, BTC, ETH, USDT
Best NEO Exchanges to Buy and Sell NEO Coin On
As you can see from the list above, there are many exchanges to buy NEO on, but, if you consider all the factors listed above, the best exchange to buy NEO on will be either Binance, Bittrex, Bitfinex, or Cryptopia.
Depending on your personal preference, the best exchange to sell NEO on will also be one of these four exchanges.
Best Exchange to Buy NEO With Credit and Debit Card
As of this writing, there are no exchanges that allow you to directly buy NEO with a credit card or buy NEO with a debit card.
The only way to use a credit card is to first purchase either BTC or ETH on a reputable exchange like Coinbase. Once you have the BTC or ETH, you can use one of the four best exchanges listed above to convert your BTC or ETH to NEO. (Note: Cryptopia does not support ETH.)
Best Exchange to Buy NEO With U.S. Dollars
There is no easy way to buy NEO with U.S. dollars directly. And unlike some of the more popular altcoins, there are no ATMs that support NEO as of yet. As with credit cards and debit cards, you will first have to buy Bitcoin with cash and then convert the BTC into NEO using an exchange like Changelly or one of the four best NEO exchanges listed above.
Best Exchange to Buy NEO With Cryptos
When it comes time to buying NEO with cryptocurrencies, one cannot find a better exchange than the popular Chinese exchange Binance. There are three reasons why I favor Binance:
- Binance offers support for a substantial number of coins.
- Binance has low fees.
- Binance offers two options for digital currency trading: basic and advanced. The main difference between the basic and the advanced version is that the advanced one offers more in-depth technical analysis of a digital currency’s value over time.
The following chart compares the four best NEO exchanges.
|Company Location||Japan||Las Vegas, United States||Hong Kong||Christchurch, New Zealand|
|Customer Support||E-mail, Social Media||24/7 E-mail, FAQ, Forum||Chat support, E-mail, Forums|
|Has It Been Hacked?||No||No||Yes||No|
|Tradeable Coins||AirSwap, ARK, Bancor, Binance Coin, Bitcoin, Bitcoin Gold, Bitquence, CTR, Dash, District0x, Enigma, Enjin, EOS, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, and Zcash||Bitcoin, Ethereum, and Litecoin||Bitcoin, Ethereum, Ethereum Classic, Litecoin, Monero, and Zcash||Bitcoin, Dogecoin, Ethereum, Litecoin, and over 400 other digital coins|
|Trading Volume||High||High||High, But Declining||High|
|Trading Fees||0.05% to 0.1%||0.25 %||0% to 0.2%||0.2%|
|Withdrawal Fees?||No||Yes||No, Except Wire Transfers||Yes|