NEO is a blockchain platform and cryptocurrency which enables the development of digital assets and smart contracts. NEO is often referred to as the Chinese Ethereum.
NEO was founded in 2014 by Da Hongfei and Erik Zhang. The NEO project was originally called Antshares and was rebranded to NEO in June of 2017.
NEO has two native tokens, NEO (abbreviated as NEO) and GAS (abbreviated as GAS).
NEO token holders can vote for bookkeeping nodes which verify transactions on the NEO blockchain and earn rewards in the form of GAS tokens. The more NEO tokens you hold, the more GAS you earn.
GAS is used to pay for transaction fees on the NEO blockchain.
You can buy NEO on Binance with Bitcoin (BTC) or Ethereum (ETH).
1. Create a Binance account.
If you don’t already have a Binance account, you’ll need to create one. Go to Binance.com and click on the ‘Register’ link in the top right corner of the page.
NOTE: WARNING: Before purchasing NEO on Binance, please remember to do your own research and understand the risks associated with trading digital assets. Investing in cryptocurrencies is highly speculative, and you should never invest more than you are willing to lose. Additionally, it is important to double-check and make sure that you are using a secure connection when making any purchases.
Fill out your email address, create a password, and set up 2FA (Two-Factor Authentication). Once you’ve completed all of the fields, click on the ‘Create Account’ button.
2. Deposit BTC or ETH into your Binance account.
Once you’ve registered for a Binance account, click on the ‘Funds’ link at the top of the page and then click on the ‘Deposits’ tab. Find either BTC or ETH in the list of available cryptocurrencies and click on the ‘Deposit’ button next to it.
A unique deposit address will be generated for you — this is where you’ll send your BTC or ETH from your wallet. Copy this address and go to your personal wallet to send your BTC or ETH to your Binance account.
3. Buy NEO with BTC or ETH.
Once your BTC or ETH has been deposited into your Binance account, click on the ‘Exchange’ link at the top of the page and select either the ‘Basic’ or ‘Advanced’ trading interface — we recommend using the Advanced interface for this guide as it’s a bit easier to use. Find either BTC or ETH in the list of markets on the left side of the page and click on it so that it populates the trading window in the center of the page. In this window, find NEO in the list of available currencies (it should be sorted alphabetically). Once you’ve found it, select either a Limit or Market order from the ‘Order Type’ drop-down menu and enter your desired price point in either USDT or BTC/ETH; for this guide we’ll use Market orders since they’re simpler to execute than Limit orders (plus they tend to execute faster).
To place your order, click on either the ‘Buy NEO’ or ‘Sell NEO’ button depending on whether you want to buy or sell respectively; once you’ve done that, a confirmation window will pop up — check that all of your order details are correct and then click on either ‘Buy NEO’ or ‘Sell NEO’. Your order will then be placed immediately and can be found under either the ‘Open Orders’ or ‘Order History’ tab depending on its status; once it’s been filled, it will appear under your ‘Trade History’. And that’s it! You’ve now successfully bought some NEO!.
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