Neo competes directly with Ethereum as a platform to create financial products on a blockchain. The company is seen as the “Chinese Ethereum” as its foundation is based in China. Neo is an attractive investment for investors who believe that another crypto will eventually replace Ethereum as a platform to build decentralized applications on. Coinbase does not support the trading of NEO. The most popular exchange that supports Neo is Binance, but there is also https://immediate-connect.com. A limit order or a market order are the two ways to buy and sell NEO. Because a limit order is more difficult, we’ll start there. You can manually set the price at which you want to buy or sell NEO with a limited order. Select “limit” in the exchange section of the buy or sell page to place a limit order. Enter the price in USDT you want to pay or receive for Neo, then enter the amount of Neo you wish to buy or sell. You’ll see how much USDT you will be charged in total or how much you are set to receive in the event of a sale. Select “purchase NEO” from the drop-down menu. Your order will only be filled if the price of NEO falls to the price you set. A market order, on the other hand, automatically fills your order at the best price available at the time. Select “market” in the exchange section of the buy page to buy using a market order. Enter the number of NEO you want to buy or sell; it might be easier to use the percentage icons next to the input space, such as 25%, 50%, 75%, and 100%. This simply means that 25% of your coin will be exchanged.
How to Buy NEO
NEO can be purchased on major exchanges like Binance. Binance allows not only USDT but also BTC, ETH, TUSD, PAX, and BNB to be exchanged for NEO. With Binance, you have to first register on the platform. After registering with your email address, you will then need to verify the account. To verify your identity, you need to submit several KYC (Know Your Customer) documents to verify your identity and additionally set up secure two-factor authentication to protect your account. Once your verification has been approved, send Bitcoin, Ethereum, USDT, or any of the coins listed above to your Binance account. To do this, click on “funds” and then “deposit”.
Choose the coin you wish to send and a wallet address will be given. Make sure any coins you send to this address are only in that currency. As soon as the transaction is gone through, it will be confirmed. The confirmation time depends on the network load. Make sure the deposit has gone through before navigating away from the page. Once the deposit has been received, you may now move to the “exchange” menu by exiting the “deposit” menu. Once you are in the exchange, locate the NEO pair for the coin you deposited earlier. To do this, just search for NEO and you will see NEO/USDC, NEO/TUSD, NEO/PAX, NEO/ETH, NEO/BTC, and all the NEO pairs. Click on the desired pair and buy NEO.
If you plan on day trading your Neo, then you’ll need to keep your crypto on an exchange. Binance has a wallet for its users, but it is only advised if you have a small amount of crypto.
How to Sell NEO
If you keep your Neo in a cryptocurrency wallet, you’ll have to send it back to an exchange to sell it. Some high-tech wallets, on the other hand, allow you to exchange cryptocurrency using smart contracts. Enter your exchange’s neo address in your crypto wallet and send it on its way to send Neo tokens from your crypto wallet. The purpose of buying a tradable asset is to make money. If you don’t want to lose money, it’s just as important to know when to buy an asset as it is to know when to sell it. Take advantage of the trading charts that are frequently provided to assist you in analyzing past and current price movements in various time frames. Once you’ve decided to sell, close your trades. This entails converting all or a portion of your NEO to USDT, after which you can proceed to your withdrawal page and make a withdrawal.
Another way to sell NEO is to find someone who wants to buy it and send the NEO to their address, after which the person will deposit fiat into your bank account.