Known as the “Chinese Ethereum”, NEO is one of the world’s most vibrant open source blockchains. Ever since its launch, the coin has had mixed price performance. This means changing its position in the cryptocurrencies’ ranks by market capitalisation. After staying in the top 20 cryptocurrencies for a long time, the coin currently is ranked 34th based on market cap. However, its price has increased significantly along with the entire cryptocurrency market.
Still, NEO remains one of the best tokens to invest in. Here is a guide on where to buy the coin for assured security and ease of transactions.
What is NEO?
Launched in 2017, NEO is a smart contract cryptocurrency that looks to rival Ethereum. In 2014 the token was known as AntShares, before a name change leading to the NEO name in 2017.
NEO supports the global development of decentralised applications (DApps) on its platform. It comes with a comprehensive suite of tools and resources for developers who wish to use the platform to develop applications. It aims to create a smart economy that incorporates both digital and traditional assets.
Where to trade NEO
Years after the launch of NEO, it remains one of the ideal tokens to invest in. This is evident by the number of top crypto exchanges that list it. Here are some of the best platforms to buy the coin.
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CoinSpot
CoinSpot is a great place to buy any cryptocurrency, including NEO. CoinSpot fees are so reasonable, making it one of the cheapest Australian crypto exchanges with premium trading services and fees as low as 0.1%. This platform makes trading NEO simple as it has the largest number of trading pairs and a variety of coins in the country. It is quite easy to deposit money to buy NEO or trade it with the tokens you already own.
CoinSpot has gained a reputation in Australia for their security (has never been hacked), their fast listing of popular altcoins, and easy to use interface. It comes with some of the biggest liquidity in Australia.
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Coinbase
Launched in 2012, Coinbase is a popular mainstream crypto exchange for international users. The trading platform is popular due to its multiple account options and simple interface that caters to different trading needs. It provides custodial accounts for institutions, and an advanced trading platform and wallet for retailers.
For international traders, Coinbase is an ideal place to trade NEO due to the multiple altcoins it also supports that you can trade between. It also comes with an easy to use platform and high liquidity.
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BTC Markets
BTC Markets remains another popular platform to trade NEO in Australia. The crypto exchange comes with straightforward tools and processes. It also allows you to choose a trading order matching your needs. The other reasons to trade NEO on the platform is the support for recurring transactions and the competitive fees.
What is the future of NEO?
As the “Chinese Ethereum ” NEO has always received massive support from the Chinese government. Therefore, its growth majorly depends on the Chinese government stance towards crypto. Following the Chinese crypto crackdown, the coin does not have the best future outlook. It will find it hard to beat Ethereum, which has already grown a wide and diverse ecosystem.
However, the coin remains a good investment. Its development is only slowed, not stopped. Currently trading at $55.81 the coin is likely to hit $120 by the end of the year. This is fueled by system upgrades from NEO 3.0.
