It isn’t necessary that if you know about NEO staking, you are entitled to know about NEO too. Those who have heard these two terms may have also heard about GAS. If you want to know more about these, then this article is the right choice for you. If you are also interested in cryptocurrency and wondering about which crypto wallet will be the right choice for you, then you can consider using neo coin walletfor that.
According to research, we have learned some basic facts about NEO and how it is possible for people to use cryptocurrencies as a way of passive income for them.
Just like any other cryptocurrency, NEO is also one. NEO can be considered as a platform build with a smart contract which also can be called ‘Ethereum’. Studies show that NEO has a motto and that is to run an economy of blockchain which can fully support a bunch of cases like decentralized finance, decentralized crowdfunding, and secure digital identity management, etc. In many ways, NEO works like the Ethereum.You have to follow some basic protocols to own a neo coin wallet.
Now let’s talk when NEO has begun. Know that China has invented this cryptocurrency. After inventing this digital currency, the company hasn’t stopped and has already accomplished so many high-profile blockchain tasks.
Research shows that the company has also worked with Microsoft China to improve the legality of digital signatures. They had to use the transparency and dependability of the blockchain technology to make the improvement.
You will experience the advantage of using NEO for another reason, and that is how it can earn the GAS. You can consider GAS as fuel in the economy of NEO. The time when you will decide to use the NEO network, you will see how it works.
The term GAS is not at all relevant to the word we know in our real life and use it daily. This GAS, as a matter of fact, is quite reachable but you will have to follow some primary steps for that.
Again, we would like to remind you that by using the neo coin wallet,you can store the NEO and use them as a transaction process too.
Primary information about NEO
Do I have to keep my PC on all the time for NEO staking?
When it comes to mining the ‘Bitcoin’ or ‘Ethereum’, it might need your computer, server, or any specialized mining device to stay on. It is natural in order to mine any type of cryptocurrency.
Fortunately, you won’t have to do this with NEO as it doesn’t require your computer or other suitable devices to stay on for the NEO stake and receive GAS.
Will I need GPU to stake NEO?
Among many other benefits, the interesting one is that you won’t need any vital computing equipment with high-tech GPU (graphics processing unit) to stake NEO.
Is there staking pools needed for NEO staking?
People usually need powerful computing equipment whenever they need to mine cryptocurrencies like Ethereum or Bitcoin. In the matter of mining NEO, you won’t need this because as mentioned-above NEO staking doesn’t need computing power. That’s why you won’t need any staking pools either.
Tell us the differences between NEO with other cryptocurrencies
The NEO units
Know that in the matter of NEO units, the smallest one will be one share. You won’t be able to share these units as you can with other currencies like bitcoin. The reason is that NEO isn’t capable of dividing itself into fractions like shares of a company or any other service. Also, in future, if the value of NEO increases, it can be a problem.
The main difference between NEO and GAS is the ‘two-tiered’ system. This particular system is what is responsible for GAS production. Know that you can sell or buy this GAS via different types of exchange forms. Typically, users use the neo coin wallet.
The contracts are smart
Know that the third essential reason that differentiates the NEO from all other cryptocurrency is the ‘smart contract’ part.
Informative buying guide of NEO
In the world of cryptocurrency, people call NEO as Chinese Ethereum often. After NEO’s launch, it was trading at the amount of around $7. But after just one month, the price range has grown spontaneously and it was $12 at that moment.
If you are wondering about when will be the perfect moment for you to invest in NEO, know that you must do your fair share of research about NEO, so that you can finally decide. Make sure that your facts are right about NEO coin. See what the price prediction of NEO in 2020 is. Studies tell us that the NEO 3.0 has been released and the focus of the Chinese cryptocurrency has renewed on it.
Can you buy the NEO?
If you want to buy NEO, the first thing you should do is to open your neo web wallet. This wallet is a digital wallet which will store your NEO coins and GAS. Also, you can make transactions with it.
NEO digital wallet or NEO web wallet
It is not that hard to open a neo web wallet where you can mine the NEO coins. Let’s see some NEO wallets below.
The official NEO wallet
You can find the official NEO wallet quite easily because they are available. Browse through your mobile, desktop, web, to download the app.
Those who prefer having the trading and storing benefit of cryptocurrencies, for them, Binance will the ultimate choice. This web wallet is also an exchange form of your cryptocurrency.
Know Neo tracker
It is considered to be a light web wallet. NEO developed this app and the NEO holders are allowed to do interactions with it. It also lets the holders explore the NEO blockchain through web.
Ledger Nano S
The NEO holders know this one as a cold wallet or hardware. It might be the best option for you if you want your cryptocurrencies in a safer place.
When you will own this wallet you will experience various benefits. The web wallet will securely store your NEO and holders can claim their GAS too from this.
What do you think about NEO’s future endeavor?
According to research, after the Chinese version of Ethereum or NEO was invented, it has drawn a lot of attentions from so plenty of users in the past year. It is also performing quite well in this ongoing year. After this, the market will be interested in NEO and will look for more partners along with the existing ones like Microsoft.
Theoretically, NEO is new compared to other cryptocurrencies like Bitcoin and Ethereum. However, professionals claim that they can foresee a profitable future on those who will invest in it. There are many investors who are pretty convinced already and have realized that NEO will be welcomed by the corporate industries. So, if you decide to invest in it, it will be good for your future. Make sure to check out the neo web walletoption too.
Now let’s know about some very basic features and advantages you will experience by using the NEO coins.
NEO will be Indivisible
If you ever feel like you want to combine your current NEO with any other form of cryptocurrencies like bitcoin, ethereum, etc, know that you will not be allowed to transfer 0.5 or 0.2 NEO in that case.
Many call the GAS as the crypto-fuel of NEO’s
According to plenty of research, GAS is considered to be the additional crypto asset of NEO. After NEO was invented, the GAS was created to fuel the NEO network. You should know that it is divisible up to 0.00000001. Another interesting fact is that GAS is allowed to pay fees through the NEO network.
It has different programming language
Those who are familiar about cryptocurrency world might know that the Ethereum has one code language which is known as Solidity. But NEO is not like that and it has allowed its developers to use different kinds of coding languages like C+, C++, Java, etc.
It offers an open network for the smart economy
While using the NEO, you will experience the concept of a smart economy. Because it can only be progressed by NEO.