NEO Guide
(Last Updated On: January 29, 2018)

Where To Store NEO?

There are lots of options out there for storing you NEO. If you head over to the NEO Download Page – you will see a wide selection of Desktop, Mobile and Web Wallets to choose from.

If you are holding NEO for the mid-term or long-term, a hardware wallet is your best bet to keep it secure and safe from prying eyes of the hackers. Ledger Nano S added support for NEO wallet in last quarter of 2017 and it works with the NEON wallet. The Ledger Nano S can work with the new neon wallet (0.0.7 or greater). Take a look at our Ledger Nano S review for a full, in-depth look at this hard wallet.

Neo on the nano ledger wallet

The Ledger Nano S manages Neo (NEO) tokens on  Windows (7+), Mac (10.8+), Linux or Chrome OS. It requires Google Chrome or Chromium, and one USB port to plug your Ledger Nano S. Keep in mind that it does not work on Android and iOS. For more information, read our complete Ledger Nano S review, where we cover all aspect of the Ledger – from usability, coin compatibilty, security etc.

nano ledger s hardwallet

Where To Buy Neo

Sign-Up To Binance To Get NEO

Enter your email and a strong password (that you won’t forget!) and then Click ‘Register’. You will be sent an email to confirm your email address. Click the link in the email. If you can’t see it, then check your spam folder.

You will be taken back to Binance as your email is confirmed. Press ‘Login’. On the login form, enter the email and password you just used to sign up, then press ‘Login’.

binace confirmed email

A pop-up will advise you to set up 2FA (two-factor authentication) on your account. We strongly recommend you set up 2-factor authorization (2FA) on your account.this second level of security makes it very unlikely they will be able to get into your Binance account.

Adding Funds To Binance

Hover your mouse over ‘FUNDS’ on the top menu and click on ‘Deposits Withdrawals’. This screen displays any coins which you have stored on Binance – you will need to deposit some. I would suggest using Ethereum due to the lower sending fees. However, you can deposit other coins.

binance add funds

Type ‘Ethereum’ in the search box. This will narrow the wallets displayed to just a few- in those, find Ethereum. Press ‘Deposit’ You will be given an Ethereum (ETH) deposit address. Make sure you have the correct address. If you send a currency to the wrong address, it will be lost forever. (The image below show LTC – this is for example purposes only).

binance add funds part 2

Using The Exchange To Buy NEO

The exchange page on Binance might appear too much to handle to start with, but don’t worry, you only need to use a small part of it.

There are 2 methods for buying coins on Binance:

  1. A ‘Limit’ order, which enables you to manually set the price you want to buy NEO Coin at.
  2. A ‘Market’ buy, which fills your order automatically at the best price available. The price may have spiked at that time, so be careful not to overpay. If you like the price then go ahead and use this method. Above the Buy NEO’ button, click the ‘Market’ option.

In the input box marked ‘Amount’ you now need to fill out what number of NEO you want to buy. It could be simpler to use the percentage buttons below the input box – for example, press 50% if you’d like to exchange 50% of your Ethereum for NEO.

Once you’re satisfied with the quantity, press the buy button. Your order will be filled immediately.

Withdrawing Your NEO Coins

If you’re happy with it, you can just leave your coins on Binance and they would in all probability be safe. On the other hand, exchanges have been compromised in the past, and users have lost coins, therefore we do suggest you keep them in a personal wallet. (The image below shows LINK coin – this is for example purposes only). Ensure you have selected NEO.

  1. Press ‘Funds’ along the top menu, then ‘Deposits Withdrawals’. In the search box, type NEO. You will now see your new NEO in your NEO wallet.
  2. Click the ‘Withdrawal’ button.
  3. In the boxes that appear, complete the information:
  4. Label: Write ‘My wallet’
  5. Address: Put the wallet address that you copied from your NEO wallet.
  6. Amount: Press the ‘Max’ button to send all your NEO.

withdraw from binace

When you’re positive all information is accurate (check you’ve inputted the correct wallet address!), press ‘Submit’. If you’ve set up two-factor authentication, you will be asked for a code from your phone. Enter it and press ‘Submit’. You will be sent an email to confirm the withdrawal. Go to your email and click the link that’s been sent to you.

Visit Binace Here

 

 

Not a fan of Binance? Try our second option below.

Sign Up For HitBTC To Buy NEO

In order to create a new account, navigate to the home page of the site here. Then click the ‘Register’ button in the upper right corner. By clicking this link, you’ll be taken to the registration page, where you should complete the required fields.

HitBTC Sign Up Part 2

Make sure you enter your valid current email address in the ‘Email’ field. Your email is your unique identifier on. The moment you used to create an account, it is not possible to change it.

Create a password in the ‘Password’ field. Please note that your password will have to be robust, consisting of over 8 characters having uppercase, lowercase and numeric characters. After filling all fields click ‘Register’.

HitBTC Sign Up Part 3

Your new account needs to get activated (this is necessary to confirm that the e-mail address you have provided really belongs to you). Please check your email – there’s the message from us. This message is sent immediately after registration, so if you do not receive it within 5 minutes, please check your junk mail folder.

Within the email, you’ll find a link to activate your account. Just proceed to it by clicking on the link or copy it to the address bar of your web browser.

HitBTC sign up confirmation email

After that, you will be taken to the HitBTC trading terminal. Your account is now active.

How To Secure Your HitBTC Account

Enabling 2-factor authentication is an important basic security feature. To set up 2FA on your here, you will need to open the ‘Settings’ page in the upper right corner of the website and switch to the ‘Security’ tab.

HitBTC enable 2-factor authentication

HitBTC will also offer you other features in security control centre – use them.

  • E-mail notifications about new IP logins: If the account is being logged in from a new IP, an email notification is sent. If you get one, take immediate action.
  • Terminating all your sessions: That is a way to kick potential intruders out from your account. All active sessions, except yours, will be ended. To make it happen, go to the ‘Settings’ page and select the ‘Security’ tab and click on “Terminate all sessions” button.
  • Automatic logout: To enable Automatic log out, go to your ‘Settings’ page. Then select the ‘Security’ tab and click on the drop-down menu pick the time that suits you.
  • Latest activity: HitBTC gives you an opportunity to track all actions made on your behalf. Proceed to ‘Settings’ page, on the ‘Security’ tab. Signing in, changing the password, enabling or disabling 2FA, coin withdrawing and other important events are being logged there – keep an eye on them and take action if you see anything you don’t recognize.

Deposit Funds Into Your HitBTC Account

To begin with, you will need to generate wallet address. In order to do that, please go to your Account page or just click the green “Deposit” button depicted below.

HitBTC deposit funds button

Find the currency you want to deposit and click the fund button. This will generate your wallet address. Take a look at our exchange overview page if you need to buy BitCoin or Ethereum. You don’t have to use crypto if you prefer you can deposit fiat into your account.

HitBTC wallet

 

You will have to use this address to start a transaction from your personal wallet or from a coin exchange site. Please be aware that for each of the coins in your account there is a distinct unique address. In case you by mistake send say Bitcoin Cash to a Bitcoin address – it is lost forever.

When your funds reach here, you’ll get a pending transaction notification at the very bottom the Account page, in the “Latest transactions” section. Your funds should be available shortly. Please be aware that BitCoin transactions will take longer than Ethereum transactions.

How To Trade NEO On HitBTC

To start trading, you would need transfer funds from your “Main account” to your “Trading account”. To do this, click the blue arrow between the accounts. Specify the desired amount and click “Transfer”.

HitBTC Trade

After your funds have been transferred to the Trading account, go to the trading terminal, pick the trading pair which includes your deposited funds and NEO in the “Instruments” section (i.e. ETH and NEO or BTC and NEO and other variants).

HitBTC place a order

There are 4 types of orders available on HitBTC: market, limit, stop, stop limit. The quickest option is market, which means you are buying NEO at the current market rate. So select market and click”Buy” to perform the trade. If you want to grab a better price, consider setting a buy limit. Using a buy limit is where you think the price is going to drop from the current market rate. You can save a little thjis way, however, bear in mind that if the price increases you might miss out and be forced to pay a higher price when you next login.

Withdraw NEO From HitBTC

To withdraw your NEO coins, go to the account tab. From here you need to go to the “Withdraw” column. and select NEO.

HitBTC withdrawing coins part 1

Make the amount of NEO you want to withdraw is available in the main account. If it is not, will need to transfer it from the trading account.

Specify the amount of NEO you’d like to withdraw and paste your NEO address to the “Address” field. Please ensure that you have the right address. Please take note that once NEO have been sent, you can not reverse the transaction.

HitBTC withdrawing funds part 2

Once you hit the “Withdraw” button and type the authentication code (if 2FA for withdrawals is enabled), the following notification is going to be displayed: “You withdrawal request requires a confirmation by e-mail.” Go to your email inbox and find a new message from HitBTC Support which will is titled “Withdraw verification”. That’s it, you NEO trade has been completed.

HitBTC withdrawal confirmed

Visit HitBTC Here

What Is Neo?

NEO founder Da Hongfei
NEO founder Da Hongfei

NEO is often referred to as the “Chinese Ethereum” Whilst this is used as a compliment, I believe NEO deserves to be recognized as a stand-alone project offering great solutions. NEO is a blockchain platform and cryptocurrency which enables the development of digital assets and smart contracts.NEO is the first decentralized, open-source cryptocurrency and blockchain platform launched in China, 2014 as AntShares.

NEO tags itself as a “distributed network for the smart economy”, and NEO’s goal speaks volumes about their smart economy concept.

NEO is a blockchain platform and cryptocurrency which enables the development of digital assets and smart contracts.The project is based in China and was originally launched in 2014 as AntShares.

The NEO Smart Contract 2.0 includes the following features: certainty, high performance, and expandability. The contract types include validation contracts, function contracts, and application contracts.

What Are NEO Smart Contracts?

The NEO smart contract platform is really ground-breaking. With NEO, as opposed to other smart contract platforms, you don’t need to learn a new smart contract language. A developer using C#, Java, or another popular programming language, can get started straight away and code smart contracts. NEO’s Universal Lightweight Virtual Machine (NeoVM) has got the advantage of high certainty, high concurrency, and high scalability for smart contracts based on the blockchain.

What is The Difference Between NEO Tokens & Gas Tokens?

The NEO token acts as the investment token of the NEO blockchain. It has a hard cap total of 100 million tokens that is utilized in block creation, network management, network changes, and other consensus requirements. These 100 million tokens were all pre-mined during the genesis block creation. The Neo token is not divisible, the smallest unit will always be 1.

NEO Vs Gas Differences

The GAS token also has a 100 million hard cap, is the fuel for the NEO blockchain. Unlike the NEO token, GAS is divisible by a factor of 1/10^8. The Gas tokens were not pre-mined. 100 million GAS tokens will be generated through a decay algorithm and will take another 22 years.

GAS is used for resource allocation and network charges for operations including running DApps, smart contracts, and providing incentives for sustaining the blockchain.

 

 

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