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Cryptocurrencies have seen remarkable growth over time. Today, over 300 million crypto investors worldwide and more than 18,000 cryptocurrencies exist within the pool of digital money. Neo, the native currency of the Neo blockchain, sits comfortably among the top 100 cryptocurrencies. Neo is an open-source, decentralized blockchain platform that aims to transform the existing blockchain economy into a smart economy.
If this cryptocurrency has piqued your interest as well, it is obvious that you would like to know where to buy Neo cryptocurrency and how to buy Neo cryptocurrency. But if you are unsure whether Neo has enough potential to fetch you gains, this article will help you resolve your dilemma. In this article, you will learn all about Neo cryptocurrency and why you should invest in it. Also, you’ll get an understanding of where to buy Neo cryptocurrency and how to buy Neo cryptocurrency in India for you to make a well-informed decision.
What is Neo blockchain?
Neo, initially called Antshares, was co-founded by Da Hongfei and Erik Zhan in China in 2014. It was later rebranded to Neo in June 2017. Neo blockchain is often referred to as the “Ethereum of China” due to its Chinese origin. It brands itself as a platform via which anyone can transact and build decentralized products and services, similar to Ethereum.
It works on the delegated Byzantine Fault Tolerance (dBFT) – a modified Proof-of-Stake (PoS) protocol. The Neo blockchain aims to automate the management of digital assets via smart contracts and build a distributed network-based smart economy system. Unlike many other blockchains, this network has dual native tokens: NEO and GAS. While NEO functions as an investment token, GAS is utilized to pay transaction fees on the network.
The Neo blockchain provides easier digitalization of assets in an open, decentralized, traceable, and transparent manner without intermediaries and associated costs. With Neo, users can link their physical assets with a digital avatar which comes with an added advantage of Neo blockchain’s protection.
Why buy NEO Token?
The NEO coin is the native token of the large ecosystem of smart contracts, distributed apps, and other functionalities hosted over the Neo blockchain. Currently, there are 70.5 million NEO tokens in circulation — and a total supply of 100 million was generated when the blockchain was launched. These tokens were distributed on a 50/50 basis — 50% of the NEO tokens were sold in the ICO, and the other half was split among developers and the Neo Council.
The Neo network can be used to launch any cryptocurrency using the NEP-5 standard. One of the main qualities that give Neo an edge over other coins is its platform’s consistent and endless developments, which ensure that NEO cryptocurrency is future-proof and scalable.
The features that make the Neo crypto platform stand apart from the others include multi-language support, native oracles, advanced interoperability, decentralized storage, self-sovereign identity, best-in-class tooling, and a dual-token model.
Additionally, Neo blockchain supports common programming languages such as Java, Python, C++, etc., and has attracted a large number of developers. This can be a game-changer for Neo as it can easily bring a larger community of developers to contribute to its platform.
On 2 August 2021, the Neo network announced the launch of its latest and one of the biggest developments, Neo 3.0 or the N3 version, which will enhance network security and allow more transactions to be processed per second. N3 is expected to upscale the transaction speed from 1000 TPS to 5000 TPS while reducing the gas fees by 100 times.
Now, let’s move to the most-awaited question– where to buy NEO cryptocurrency and how to buy it in India?
How to Buy NEO Coins in India?
If you are wondering how to buy NEO coin in India, then WazirX can be your best choice. You can buy NEO coin in India via WazirX, India’s most trusted cryptocurrency exchange, by following the few simple steps listed below:
#1 Sign Up on WazirX
To begin with, create an account on WazirX by clicking here.
#2 Fill in the Required Details
Put in your email address and choose a secure password.
#3 Email Verification and Account Security Setup
Next, verify the email address by clicking on the verification link you received in your inbox. Following that, you have two options to ensure the security of your account – the authenticator app and mobile SMS.
Remember that the authenticator app is more secure than mobile SMS because there is a risk of delayed reception or SIM card hacking.
#4 Choose Your Country and Complete KYC
After selecting your country, complete the KYC process. Without completing your KYC, you can not trade peer-to-peer or withdraw funds on the WazirX app.
To complete your KYC, you need to submit the following details:
- Your full name as it appears on your Aadhaar or any other ID proof
- Your birth date as stated on your Aadhaar or any other ID proof
- Your address as it appears on your Aadhaar any other ID proof
- A scanned copy of the document
- A selfie of yours to finish the procedure
And you are done creating your account! Within 24 to 48 hours, the account is usually validated.
Buy NEO on WazirX via P2P
WazirX allows you to check the NEO coin price in India before you proceed to buy NEO crypto via WazirX. Check NEO coin price in INR on WazirX here. On WazirX, you can buy NEO using USDT or INR.
To buy USDT, you can use the WazirX P2P route. This is fast, secure, and free. Follow these simple steps to buy USDT and then your NEO crypto:
- Log in to your WazirX account on the web/mobile app and select “P2P” from the “exchange” option.
- Next, click on the ‘Convert INR into USDT’ option.
- Add the INR price at which you want to purchase USDT. Next, add the number of USDT tokens you want to purchase and click on “BUY”. Here, the minimum purchase should be 14.5 USDT.
Once you click on the buy button, WazirX will match you with sellers. However, if you wish to purchase the USDT from a specific seller, you can add the XID of that person and complete the transaction.
- You need to select a preferred mode of payment next. UPI and IMPS mode are the two options available. Please note that IMPS linking is mandatory on the WazirX platform; however, UPI linking is optional.
- Once you confirm and click on the message “YES, I WILL PAY’, you will get 60 additional minutes to complete your payment. In case of non-payment, after confirmation, a minimum penalty of 10 USDT or 1.2% of trade value will be levied. False confirmations can also cause your account to get locked.
- Complete the payment as per the payment details on the screen (seller’s bank/UPI details). Once the payment is complete, upload the payment proof and click on the checkbox “I HAVE PAID”.
Once the seller confirms the receipt of payment, your order will be marked complete, and the USDT purchase will be reflected in your “funds”.
- Now you can use this newly acquired USDT balance to purchase NEO crypto on WazirX exchange. Go to the “exchange” option on the web/mobile app and select NEO crypto from the list of the tokens available in the USDT market. All price charts, order book data, and an order input form are visible on the right side of the screen.
Fill out the buy order form and click on buy NEO. Wait for some time. It will only be a short while before your order is executed. Once it’s done, you will receive the NEO coins you purchased in your WazirX wallet.
Learn how to buy crypto safely and securely via WazirX P2P:
Future of NEO Cryptocurrency?
If you are searching for virtual coins with good returns, experts believe that Neo can be a profitable investment option for the long term. The upgrade Neo 3.0 is one of the leading factors that can cause the NEO crypto’s prices to skyrocket in the coming months. When Neo 3.0 started unfolding, the Neo/USD pair hit $130 from the previous price of $0.0320 during the ICO in August 2017.
CryptoGround platform predicts that the Neo will experience an uptrend in 2022. By the end of the year, the NEO coin may rise to $44.64. The NEO Crypto is at the 65th position in the cryptocurrency charts as of 07 July 2022. Experts predict stable growth for the Neo blockchain in the future.
We hope your queries about where to buy NEO cryptocurrency and how to buy NEO cryptocurrency are answered. If you are optimistic that the NEO price prediction will play out correctly in the future, make sure to sign up and create an account on WazirX and start trading NEO cryptocurrency.
If you’re new to cryptocurrency trading and investment, Wazirx can be a great place to kickstart your efforts. However, it is important to keep in mind that there is still a very long road ahead for the Neo cryptocurrency.
It is advisable that investors and traders plan and follow their own trading strategy, as per their personal risk tolerance and investing goals, and conduct thorough research before every trade.
Frequently Asked Questions
How To Invest In Cryptocurrency?
There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is considered the procedure of verifying and adding transactions to the blockchain public ledger. Another option is via cryptocurrency exchanges. Exchanges generate money by collecting transaction fees, but there are alternative websites where you can interact directly with other users who want to trade cryptocurrencies.
Is Cryptocurrency Safe To Invest In?
Cryptocurrency investments are subject to market risks, but if sufficient security measures are not taken, trading accounts can be maliciously accessed. Investments come with risks and uncertainties, and we cannot claim that any digital currency investment is risk-free. Buying and selling cryptocurrencies can be risky even if the trader is knowledgeable about the market and treats their coins carefully.
Which Cryptocurrency Is Best To Invest In 2021?
Many altcoins are flourishing to invest in. Some cryptocurrencies with great potential are Ether, Ripple, Tron, and more. Investors are trying to diversify their portfolios and are flocking to the leading cryptocurrencies. Many growing businesses are already accepting cryptocurrency as acceptable payment methods.
What Is The Safest Cryptocurrency To Invest In?
Bitcoin has had the highest market capitalization, has been around the longest, has the most experienced development team, and has enormous network impact and brand recognition. As a result, while trading cryptocurrencies, the rate of return on Bitcoin is commonly used as a benchmark. However, the risks associated with cryptocurrencies remain, and the safest cryptocurrency for you depends on your analysis.
Are Cryptocurrencies Legal In India?
In India, cryptocurrency is legal, and anyone can buy, sell, and trade it. Because India lacks a regulatory system to regulate its operations, it is presently uncontrolled. According to the Ministry of Corporate Affairs, companies must now document their crypto trading/investments inside the financial year.
Is Mining Cryptocurrency Legal?
Cryptocurrency mining can be time-consuming, expensive, and sporadically profitable. Mining has an appeal for many cryptocurrency enthusiasts as miners are paid directly with crypto tokens for their efforts. The legality of cryptocurrency mining is dependent on where you live. In India, there is no restriction on crypto mining.
Who Invented Cryptocurrency?
Satoshi Nakamoto invented cryptocurrencies and the technology that makes them function in 2009. The presumed pseudonymous individual or persons who invented Bitcoin used this identity. In addition, Nakamoto created the first blockchain database. Even though many people have claimed to be Satoshi Nakamoto, the person's identity remains unknown.
What Is Cryptocurrency?
A cryptocurrency is a digital currency secured by encryption, due to which chances of activities such as counterfeiting and double-spending taking place get close to impossible. Cryptocurrencies get created on blockchain technology ( a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are unique in that they do not get issued by any central authority. The term "cryptocurrency" comes from the encryption techniques used to keep digital currencies and the network safe.
How To Invest In Cryptocurrency Stocks?
Cryptocurrency can be purchased in two ways: through mining or exchanges. The process of confirming and adding transactions to the blockchain public ledger is known as cryptocurrency mining. Cryptocurrency exchanges are another option. Exchanges make money by charging transaction fees, but there are alternative platforms where you may communicate directly with other cryptocurrency traders.
Is Bitcoin And Cryptocurrency The Same Thing?
Bitcoin is a cryptocurrency that was designed to facilitate cross-border transactions, eliminate government control over transactions, and streamline the entire process without third-party intermediaries. The absence of intermediaries has resulted in a significant reduction in transaction costs. Satoshi Nakamoto, the creator of Bitcoin, created the first cryptocurrency in 2008. It began as open-source software for money transfers. Since then, plenty of cryptocurrencies have emerged, with some focusing on specific fields.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
