All you need to know about Neo Coins
Since the inception of Bitcoin in 2009, there have been many emerging coins that have come out as an alternative to capitalize on the hype. The most famous cryptocurrencies – Bitcoin and Ethereum have a lot of demand, thus it is hard to acquire them. This is why people come up with alternative options that work in a similar manner.
NEO – like all its contenders – is a digital currency that is known as the Chinese take on Ethereum or rather an alternative to it. Ethereum and NEO use the process of smart contracts but, NEO is better with an improved order of networking.
The main objective of the coin is marketed as a globalized system for smart economy – or a concentrated faucet to manage digital assets. The idea was received well by the audience and gradually, NEO made it to the top 20 cryptocurrencies around the world. The status was achieved after NEO capitalized the market by 5 billion USD.
The process of tokening on NEO is divided into two categories. NEO and neoGAS. The creators of the coin had a well-thought plan as they capped it at 100 million tokens that circulate in the circle and help people gain profits.
Price of NEO
The pricing model of NEO replicated the famous model of the well-known cryptocurrencies. Thus, in case the market is at a low and the prices fall – NEO will take a hit too. The value of the NEO coin is highly volatile but it goes up eventually, which can be used by short-term traders.
Users of NEO
The majority of the people that use NEO are located in China. This indicates that the prices and regulation would depend upon that region. Hence, people who want to start off with cryptocurrency in China should start with NEO, as it will be a better fit for locals.
Regulation of NEO
The case of regulation of NEO is fairly strong – unlike Monero and Dash as they keep the users anonymous. This is why the governments are reluctant to regulate them.
But NEO is very open to work with the government to initiate the regulation process. This will make a strong point for NEO to be regulated in the foreseeable future. Another important aspect of the NEO coin is that the booming economy of China and the incorporation of cryptocurrency will make the coin grow by leaps and bounds.
According to analysts, the NEO coin has a tremendous proximity to grow but it mostly depends on whether the Chinese government regulates the coin.
Trading of NEO
Acquiring a NEO coin is not as simple as getting a Bitcoin. The easiest way to get your hands on a NEO coin is to trade Bitcoins for it. However, you can buy them off of some famous cryptocurrency exchanges even in Africa.
Then the trading can be done on platforms that are either automated or manual. If you are in Africa, it’s better to trade NEO using a yuan pay app. The main reason why it is beneficial to trade NEO is that it works seamlessly with Chinese corporations. Moreover, the interface is user-friendly and the processes are simplified so it is easy to use for people.
NEO is an alt-coin that is marketed as the Chinese take on Ethereum. The blockchain is programmed similarly to the Ethereum coin but the networking system is claimed to be better than Ethereum.
There are two tokens that drive the whole process, NEO and neoGAs – that have been capped so that a particular amount of coins circulate the market. The coin has a lot of potential and it can be manifested if the Chinese government decides to regulate the coin. The regulation is likely to happen as the creators of the coin are open to negotiations with the Chinese government.
Finally, the trading can be done on any platform after acquiring the NEO coins. The cryptocurrency trading websites are gaining popularity and are able to produce profits that are more than other applications.
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