Today, the digital currency market is overflowing with an offer of a wide variety of assets. Only now in the top of the best cryptocurrencies around the world, 1620 different cryptocoins are included. And each of these Blockchain projects is distinguished by its unique idea, development team and perspective.
What is NEO?
NEO is an independent blockchain platform for working with digital assets and smart contracts (Smart Contracts). Its prototype, the AntShares cryptocurrency, was created by developers Da Hongfei and Erik Zhan in China in 2014 and renamed NEO in June 2017.
According to the developers, they took care of the scalability of the network in advance. In the long run, the network will be able to process millions of operations, and blocks will be created in one second. Recall that for the same Bitcoin, it takes an average of 10 minutes to create one block.
The two native tokens of the NEO platform serve different purposes. In short:
- NEO is an investment token used to generate new blocks, manage the network and perform other tasks that require interaction with the rest of the network;
- GAS is the main currency for transactions on the Neo blockchain.
The NEO token can be compared to a stock in a company. It works in a similar way. Token holders can participate in the management of the network. For example, vote for decisions related to the development and capitalization of the platform, or propose your own options for its development. All digital coin holders are united in a community.
GAS, on the other hand, is purely functional. This token is the digital equivalent of monetary assets. It is, for example, used for retail settlements and the storage of funds converted through smart contracts. NEO cryptocurrency is a “stock” that transforms users into “shareholders”.
GAS - their cash equivalent, which serves as a means of payment within the Smart Economy.
The NEO cryptocurrency has very strong support from well-known corporations in the world like Microsoft or Alibaba. And they, in turn, will push NEO upward with all their might, increasing its scale and capitalization.
Where does NEO come from?
The digital asset is very interesting for its system based on the dBFT consensus protocol. It allows each investor to have his own vote to choose the administrator of the network - bookmakers, as well as to consistently receive additional income due to the automatic accrual of the GAS token inside the official wallet to all holders of the NEO cryptocurrency.
What makes NEO unique?
The NEO platform is unique:
- It is a network for decentralized applications and ICOs.
- It can support over 10,000 transactions per second.
- There is no transaction fee for the regular user.
- His vision is to revolutionize a new smart economy.
How does NEO work?
The NEO cryptocurrency is designed to integrate the virtual blockchain ecosystem with the real sector of the economy. In contrast to the Ethereum machine, which supports one computer language - Solidity, the NEO platform is multilingual. The user can run a decentralized application or smart contracts in one of the common programming languages. The throughput of the NEO cryptosystem is 1000 operations per second, which is much higher than that of the Ethereum or Bitcoin network.
Where to buy NEO in the Philippines?
If you are interested in investing in NEO, you should know where to buy NEO in the Philippines. It's very easy and simple!
You can buy NEO on any major cryptocurrency exchange. To start investing in NEO, open a cryptocurrency wallet on your chosen exchange. At the same time, a trader can only open buy deals and make money on the growth of the asset. Short positions are allowed only if there are already open long positions.
There are many services designed to store digital money. All services are divided into:
- centralized (intermediary, making transactions on behalf of the client): crypto exchanges and exchanges;
- decentralized (allow the user to independently conclude transactions): crypto wallets.
The choice of service depends on the applied investment strategy. Crypto wallets are suitable for long-term investments. This is due to minimal risks.
The purchase of NEO through an online brokerage platform can be carried out through cryptocurrency CFDs, which opens up more opportunities for the trader. You are not buying the asset itself, you are simply making money from price movements. Regardless of the movement of the asset price, whether it goes up or down, you can earn money without owning, buying or selling the cryptocurrency itself.
How to start investing in NEO in the Philippines?
The NEO project is not just a cryptocurrency with good developers and a common idea, but a very serious Chinese company that is determined to revolutionize the digital market. The company plans to create incredible competition for many smart contract platforms.
A review of the NEO cryptocurrency will allow potential investors to assess the prospects of investing in this coin!
The well-known Ethereum platform has many disadvantages compared to the NEO system, which is increasingly developing and capturing the market.
The positive aspects of investing in NEO are:
- strong growth prospects;
- decentralization (lack of binding to central control nodes);
- increased security;
- small commissions for expense transactions;
- confidentiality of personal data;
- protection from inflation;
- simplicity of operations (for the sale and purchase of digital coins, it is enough to have a computer, the Internet and a special program);
- accessibility (cryptocurrency mining is available to anyone);
- independence (only the account owner can control the movement of money).
During the existence of the stock market, investors have developed many trading strategies. To successfully invest in NEO in the Philippines, work out the right course of action. It is difficult for a beginner to create his own strategy, so you can use ready-made options. The most common are 3 schemes.
This method is also called "Bought and Forgot". An investor buys digital currency and expects a sharp rise in its price. For long-term investments, money is used that the investor will not need in the near future.
If you need an urgent withdrawal of funds, you will have to sell assets at a low price. The trading strategy will turn out to be unprofitable.
The method is suitable for a player who does not want to wait long for a profit from an investment. The strategy works like this: the investor divides the capital into several parts, and buys cryptocurrency for one of them. The period of falling prices is used to buy new coins. So the cost of the investment is averaged out, the acquisition becomes profitable. Periods of price increases are used to sell coins for profit.
Trading is more like a job than earning passive income. However, it should be included in the list of methods for beginners. Trading is called cryptocurrency trading according to the standard scheme: buy at a low price, sell at a higher price. Unlike previous strategies, trading requires a person's full commitment. You need to constantly monitor cryptocurrency rates, the economic situation, news in the IT field.
To implement a trading strategy, you need:
- investigate the main characteristics of the asset;
- be able to use quotes and charts;
- view trading history;
- conduct sales and purchase transactions.
When investing in NEO, try to follow these tips:
- Explore all the available information. You cannot buy without knowing how the company is doing. It is necessary to conduct analysis, make forecasts and make sure that the company will rise or fall.
- Calculate the risk. It is always necessary to have a plan of action in case of failure, for example, if you have to close a trade with a loss.
- Build an investment portfolio. This will help you reduce risks, because if some stocks go at a loss, the rest will cover it with their plus. It is important to invest in companies from different industries and countries.
Investing in NEO in the Philippines is arguably one of the most lucrative investments of yours, earning you several hundred percent through the growth of the coin during a growing market. And while NEO is still at the very beginning of its development and the price of its assets is relatively low, then you have an excellent chance to buy NEO cryptocurrency at a reduced price before it is too late. After all, soon, when the digital market begins to grow, the NEO cryptocurrency will be able to calmly grow up to $ 1,000 apiece. We wish you a successful investment!
Is it safe to invest in NEO?
The protection mechanism of the NEO crypto network is based on the Delegated Byzantine Fault Tolerant principle. The dBFT algorithm differs from PoW and PoS in the impossibility of forming parallel blockchain chains, which significantly strengthens the security system.
Should traders invest in NEO?
NEO cryptocurrency is a rather interesting and highly profitable project with very serious support. This strong support allows the NEO rate, even during the market correction, to remain relatively stable and not fall rapidly downward.
Is NEO a good investment?
NEO cryptocurrency soared into the Top 20 popular cryptocurrencies in less than two years with a capitalization of 693,682,685 USD, the new concept turned out to be really successful.
Most often, the NEO cryptocurrency rate is compared to the value of Bitcoin (BTC) or $ USD.
How to buy NEO in the Philippines now?
The current trend in internet business is to learn how to buy NEO through online trading platforms. The Internet is becoming a favorite destination for traders due to its favorable business environment and growing entrepreneurial opportunities.
When investing in NEO, you will have access to the leveraged trading option, which is also available on many cryptocurrency exchanges and trading platforms. Margin trading is an additional option, and it is up to the trader to decide whether to use borrowed funds or not to invest in NEO in the Philippines. You should always remember that leverage in the cryptocurrency market can both enrich and ruin a trader.
Buy NEO in the Philippines at the conclusion of a CFD, an investor can place bets on the further movement of assets on various trading pairs. They can be composed of two different cryptocurrencies, or a digital asset and fiat, for example, the US dollar. Depending on the current market conditions, the investor can choose one or more trading pairs to work with.
CFDs attract investors with the ability to quickly make money on predictions. There is a principle in the stock market that the earlier you start, the more you earn. Take control of your financial future now!