A Comprehensive Guide on How to Buy Neo Cryptocurrency in 2018

Introduction:

In the rapidly evolving world of cryptocurrencies, Neo has emerged as a popular digital asset with a promising future. With its unique features and strong community support, many individuals are looking to invest in Neo. This guide will provide you with a step-by-step process on how to buy Neo cryptocurrency in 2018.

Step 1: Understand Neo Cryptocurrency

Before diving into the buying process, it's essential to have a clear understanding of what Neo is and its potential benefits. Neo is a blockchain platform that aims to digitize assets and enable smart contracts. It was founded by Da Hongfei and Erik Zhang in 2014 and has since gained significant attention in the cryptocurrency community.

Step 2: Choose a Cryptocurrency Exchange

To buy Neo, you need to have a cryptocurrency exchange account. There are numerous exchanges available, each with its own set of features and fees. Some popular exchanges include Binance, Coinbase, Kraken, and Bitfinex. Research and compare different exchanges to find one that suits your needs in terms of fees, security, and supported cryptocurrencies.

Step 3: Create an Account and Verify Your Identity

Once you have chosen an exchange, you will need to create an account. This typically involves providing your email address, creating a password, and filling out a registration form. Additionally, most exchanges require you to verify your identity by providing government-issued identification documents. This process ensures the security of your account and complies with regulatory requirements.

Step 4: Deposit Funds into Your Exchange Account

To buy Neo, you need to have funds in your exchange account. You can deposit funds in various ways, such as bank transfer, credit/debit card, or other cryptocurrencies. Choose the method that is most convenient for you and follow the instructions provided by the exchange. Keep in mind that some exchanges may charge fees for depositing funds.

Step 5: Buy Neo Cryptocurrency

Once you have funds in your exchange account, you can proceed to buy Neo. Here's how:

1. Navigate to the trading section of the exchange and select the currency pair you want to trade. For example, if you want to buy Neo with Bitcoin, select BTC/NEO.

2. Choose the type of order you want to place. You can opt for a market order, which executes immediately at the current market price, or a limit order, which allows you to set a specific price at which you want to buy or sell Neo.

3. Enter the amount of Neo you want to buy or the amount of your chosen currency you are willing to spend. Review the transaction details and confirm the purchase.

Step 6: Store Your Neo Safely

After buying Neo, it is crucial to store it securely. While you can leave your coins on the exchange, it is generally recommended to transfer them to a personal wallet. There are various types of wallets available, including software wallets, hardware wallets, and paper wallets. Choose a wallet that suits your needs and follow the instructions to transfer your Neo.

Frequently Asked Questions:

1. What is the best way to buy Neo in 2018?

The best way to buy Neo in 2018 is by creating an account on a reputable cryptocurrency exchange, depositing funds, and purchasing Neo using your preferred payment method.

2. Can I buy Neo with credit/debit card?

Yes, many cryptocurrency exchanges allow you to buy Neo using a credit/debit card. However, keep in mind that this method may be subject to higher fees compared to other payment methods.

3. Is it safe to store Neo on an exchange?

While exchanges offer convenience, storing your Neo on an exchange is not considered the safest option. It is recommended to transfer your Neo to a personal wallet for enhanced security.

4. How long does it take to buy Neo?

The time it takes to buy Neo can vary depending on the exchange and your chosen payment method. Generally, it takes a few minutes to complete the purchase once you have funds in your exchange account.

5. Can I sell Neo for cash?

Yes, you can sell Neo for cash by transferring it to an exchange, placing a sell order, and then withdrawing the proceeds to your bank account or other preferred payment method.

Conclusion:

Buying Neo cryptocurrency in 2018 is a straightforward process that involves understanding the asset, choosing a reputable exchange, creating an account, depositing funds, and executing a purchase. By following the steps outlined in this guide, you can securely acquire Neo and potentially benefit from its future growth. Remember to prioritize security by storing your Neo in a personal wallet and staying informed about the latest developments in the cryptocurrency market.