And if with that, the Neo cryptocurrency - where to buy, everything is clear, then let's consider the question of how to store it. At the same time, cold storage of cryptocurrencies is the most reliable option, storage on the exchange allows you to simultaneously trade cryptocurrencies, and electronic wallets provide the opportunity for charging GAS tokens (read about Ava Trade).
Method 1. Electronic cryptocurrency exchange - the best option
You can store Neo cryptocurrency in the same place where you bought it - this is the electronic cryptocurrency exchange of your choice. This method is by far the most optimal, since it allows you to work with many crypto assets simultaneously. You do not need to keep a large number of wallets on your computer for each type of coin, which provides additional protection.
Here are some more features of exchanges that need to be highlighted:
Method 2. Own wallets Neo - give the opportunity to charge GAS
At the moment, there are several different wallets for storing Neo cryptocurrency, however, consider only two of them:
NEO GUI - in fact, this is the official version of the client about the developer himself. It is quite heavy, and at the moment there is a version only for the Windows operating system.
Neon - this wallet is from third-party developers of City of Zeon, who are actively engaged in the study and development of the entire Neo system. It is worth noting that this is the only third-party software that developers recommend for use. Today there are versions for all desktop operating systems.
When using these wallets, GAS will be credited to you automatically.
Method 3. Cold storage of Neo cryptocurrency - the most reliable option
The last and most reliable today is the cold storage of cryptocurrency, in the case of Neo it is also called paper storage. The principle of such storage of cryptocurrency is quite simple. The secret encryption key is extracted from the wallet and turns into a paper qr-code.
If we are really talking about large amounts, it is recommended to print several of these keys and store them in bank cells.
Cold storage of cryptocurrency has the following feature - you can safely replenish your wallet, but at the same time, in order to spend, you will need to restore the key in the system, which is not so simple.
It is also worth remembering that when storing cryptocurrency on paper, GAS is not charged. You can learn more about the methods of storing electronic currencies from the material: "Where to store cryptocurrency: wallets, exchanges, earnings."
OnChain takes quite specific steps for this:
Carrying out digital identity. This step, in fact, is the main justification for the rejection of actual decentralization. When conducting large operations between corporations, any anonymity should be forgotten.
Digitization of assets. This was discussed in more detail above, but the main difference from analogues is Neo strives to comply with all regulatory acts.
Creation of an integrated network. Today, Neo cryptocurrency is the basis of the OnChain blockchain, but in itself this is not a goal, but only a means of achieving it.
Neo GAS cryptocurrency - what you need to know?
A subsidiary of the Neo cryptocurrency network is GAS. Therefore, for completeness, it is necessary to highlight the main points regarding the second currency.
Neo GAS Cryptocurrency - Features:
GAS issuance is also limited to 100,000,000 coins, but unlike its older brother, coin issuance is gradual. This can not be called full-fledged mining, since users do not spend any resources to get GAS.
GAS mining takes place automatically, according to the results of the month, a certain amount of crypto is accrued to all holders of the Neo wallet. The calculation is not entirely transparent, since much depends on the generation of new blocks. However, for ease of calculation, it is customary to use the following formula: for every 2000 Neo coins, you will receive 1 GAS cryptocurrency token per day.
It is this currency that is spent on conducting a transaction and concluding smart contracts. As a result, it is split up to a thousandth.
GAS has its value, and almost any electronic cryptocurrency exchange allows it to trade. This is very convenient because it opens up new opportunities for those who make money playing on the difference in the rates of various cryptocurrencies.
Neo GAS cryptocurrency is not an independent unit and is very tightly attached to Neo, which is worth remembering if you decide to invest in it.
Cryptocurrency Neo - history of occurrence
It is difficult to understand what the Neo cryptocurrency is, without considering the history of its origin. The story is quite simple, but there are several important points that determined the development course of not only Neo itself, but also the cryptocurrency market as a whole.
In 2014, the Chinese company OnChain set itself the daunting task of launching a blockchain project that combines all sectors of the economy. The idea was to entangle the entire network with high-tech smart contracts, making the tokens of this network the main means of settlement between contractors. Thus, in the same 2014, a blockchain network called AntShares appeared, immediately the coins of the same name were introduced into circulation (later Neo).
It should be understood that initially OnChain did not set goals to replace the existing economic system. In fact, the creators wanted to make a larger analogue of Ripple, which they actually did. To promote your product on the international market, it was necessary to look for large partners, and they were very quickly found. Wings, a major blockchain project, as well as two such global giants as Microsoft and Alibaba entered into cooperation agreements with OnChain.
The Neo cryptocurrency received a fundamental boost in development in 2017.
It was in 2017 that two very important events took place:
It was decided to rebrand the entire platform. After that, the site and coins were no longer called AntShares and took the name Neo. It is worth noting that the market reacts to such changes very impulsively. After the news of renaming appeared, the coin rate went up almost 40 times!
The Chinese government has actively taken control of the ICO. So, a large number of sanctions were imposed on such companies. Against the background of this news, not only the Neo cryptocurrency, but the entire cryptocurrency market rapidly went down, but stopped quite quickly.
It is worth noting that the OnChain management is actively negotiating with the Chinese government on lifting all sanctions from the project and its full legalization in the country. If they succeed, then this will be a big step in the development of not only Neo, but all existing crypto money.
Cryptocurrency Neo - its history is being written right today. If all OnChain’s ideas can be implemented, then this will truly be a landmark event for the cryptocurrency market all over the world.
Today we examined in detail what the Neo cryptocurrency is, what its features and prospects are. Of course, this asset has great potential, especially given the progress in negotiations with the Chinese authorities. For this currency, 2018 will be decisive. If you are interested in maximizing profit, then you should pay attention to Neo.