How to Buy NEO Coin (Antshares)? Where to Buy NEO Coin?
You may have heard about Ethereum and it has always been compared with NEO (Antshares). If you have missed the train of Bitcoin and Ethereum, you maybe want to invest in NEO as it is the “Chinese” Ethereum that has an enormous potential in its technology as well as its market value. If you are wondering how to buy NEO Coin and where to get them, stay with me and read on.
Brief Introduction of NEO Coin
NEO (formerly known as Antshares) – or famous for the name “Ethereum of China”, that the price surges To $50 early August this year after its rebranding process. Of all the cryptocurrencies, NEO (formerly known as AntShares) is following the path of Ethereum and becoming one of the fastest growing cryptocurrencies in the market.
NEO is an open source blockchain that is working with AdEX, an International decentralized market network which is specifically developing a blockchain-powered structure for online ad market.
NEO has earned the support of many other blockchain companies, including Bancor, Coindash, and Agrello. It also has the (rumored) support of China’s biggest e-commerce retailer, Alibaba.
In its confirmed support corner, NEO has the backing of Red Pulse, a major Chinese research company. Red Pulse wants to use NEO to build a massive research database. This project will also release its own token that will run on the NEO network.
For investors who are still trying to wrap their heads around the diverse uses of blockchain technology, all of the above are examples of why so many corporations are scrambling to get their slices of the pie.
Currently, 80% of the ANS volumes are being traded in China. There are over 1.3 billion people in China and NEO is a Chinese brand (just like Alibaba, Baidu, Wechat, etc.) it may have a distinct advantage over Ethereum in terms of rate of adoption.
Further Reading: What Is NEO (Antshares)? Should I Buy Antshares?
Where to Buy NEO Coin?
At the time of writing, there aren’t a lot of exchanges that trade NEO. If you are staying in China, you can buy and sell NEO coin at Yunbi, Jubi, and, Yuanbao. If you are residing outside of China, the only way to get NEO coin is through Bittrex.
How to Buy NEO Coin (Antshares)?
If you are totally new to the world of cryptocurrency and want to buy some NEO coin with USD or other local currencies, it is not straight forward to do it on Bittrex as you can only deposit USD via Wire Transfer. Before you can perform any wire transfer, your account has to be verified by Bittrex.
Then, fill up the wire transfer form and wait for their instruction on how to submit a wire transfer to Bittrex.
However, you could trade with your Bitcoin by sending BTC to your Bittrex account and buy NEO with BTC.
If you are totally new to this method, read on and I will show you how to get your first NEO.
STEP 1: Create A Bittrex Account
The registration process in Bittrex is super fast & easy. Less can be said about interpreting their dashboard, but it’s not the worst. Once, you’re approved here, we’ll get to the good stuff.
STEP 2: Buy Bitcoin
Buying Bitcoin is straightforward.
Registration is pretty straightforward, requiring things like your name, email, and a verification of your identity (eg: pictures of your driver’s license, etc). Once your account is created and verified, you’ll need to add a funding source like a bank account and/or a debit card. Once this is set up, you can buy some Bitcoin.
The reason I encourage my readers to buy BTC from Coinbase because you will get $10 free BTC once you trade your first $100 through Coinbase.
STEP 3: Transfer Bitcoin to Bittrex
Go to Bittrex “Wallets” on the top right menu.
Here, you’ll see a list of currencies and you need for “Bitcoin.” When you find Bitcoin, click the + icon to open a lightbox in which you will generate a Bitcoin wallet address. Once you’ve done this, copy that long string of letters & number.
Now, go back to Coinbase. Here, you’ll navigate to the Send/Request tab. Now paste the Bitcoin deposit address you got from Bittrex into the “Destination” box and type in the amount of Bitcoin you want to send. You can opt to either move all of your Bitcoin or some fraction.
Just one click and your funds should be on their way to Bittrex. It will take a bit of time, perhaps 15 minutes or more, for your Bitcoin transfer to complete.
Step 4: Trade Bitcoin for NEO on Bittrex
To trade your Bitcoin (BTC) for NEO:
- Check the price of NEO in real time (1-minute), and when you are happy with the price, say 0.011154 (BTC/NEO) as shown in the below figure.
- Click the “Price” next to “Bid” and click “Last”. This means you are calling the platform to generate the latest bid price.
- Then, key in the number of NEO you want to buy next to the “Units”
- Click “Buy”.
You just exchanged Bitcoin for NEO. Be aware that there often isn’t much NEO for sale at the very lowest price, so you may need to repeat steps 1-3 a few times until all your Bitcoin is exchanged.
You then can check your wallet again and see the amount of NEO you have just purchased.