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Is NEO a good investment for quick profits?
Our world is surrounded by cryptocurrency, and newer cryptocurrencies join frequently. NEO is one of them. So is NEO trading profitable as a trader?
NEO is sometimes called Chinese Ethereum, as it shares the same blockchain protocol to create smart contracts. Many traders are considering NEO trading as a means to increase their profit. In addition, traders are also considering NEO future trading.
It won’t be long before NEO global trading is a common phenomenon with growing popularity.
What is NEO?
NEO is a cryptocurrency that is based in China. During its inception in 2014, the developers Da Hongfei and Erik Zhan had branded it under ‘AntShares,’ which subsequently became NEO in mid-2017.
Like any other cryptocurrency, NEO is based on blockchain technology allowing users to transfer and receive NEO digitally.
Nonetheless, for several reasons, NEO stands out as a blockchain protocol and a cryptocurrency. First, like Ethereum, NEO allows users to create and use ‘smart contracts.’
Second, the NEO blockchain can handle 10,000 transactions per second, arguably superior to Ethereum.
Compared to Ethererum, it currently handles 15 transactions per second, which is bound to change once the improved second-generation blockchain is in operation.
However, NEO stands out from the rest of the cryptocurrencies as it is based on C++ and Java, which are traditional programming languages.
This indicates that its smart contract and blockchain technology is “Oven Ready” for experienced developers. Thus NEO is based on the vast marketplace of China, as its blockchain is compliant with domestic regulations.
How does NEO work?
The NEO stepped in to develop out of a smart ecosystem, sometimes known as a “smart economy.” Two or more parties enter into a NeoContract to complete a transaction, and this is the network’s version of entering into a smart contract, a legally binding agreement based on codes.
What are NeoContracts?
NeoContracts is the network’s equivalent of smart contracts, customizable agreements written in codes on the NEO blockchain. The agreement between the two parties is enforced through computers and paid through GAS tokens that are automatically executed.
In China, smart contracts should meet the government’s “Digital Signature Act” as a means of digital identification if they are considered legally binding. In 2016, Onchain, NEO’s parent company, entered a partnership with Microsoft China ensuring that digital identity was fully integrated with the network while making blockchain completely transparent.
Like most traditional exchanges, to verify the authenticity of each transaction, a third party is needed, requiring a lot of money and time. However, since NEO is a decentralized currency, the third party is avoided as the contract execution is endorsed by other participants or “nodes.”
NeoContracts are tamper-proof and need approval from most NEO users before any actions are required to record on NEO’s blockchain, a public ledger of all the transactions on the network.
How to Trade Neo?
Deciding how you want to trade NEO
NEO trading can be done in two ways, either by buying it or by trading on its price movement.
When you buy a NEO, you expect the price of NEO to increase in the future so that you can sell it at a higher profit. You are also eligible for voting rights and receive GAS tokens in the form of dividends. For this, you need an account with a cryptocurrency exchange, and this process takes a long time and requires additional costs to maintain the account.
If you wish to trade NEO without taking ownership of it, you can speculate on its price. You can use derivative products such as contracts for difference (CFDs). You can take a long position or a short position using CFDs.
When you trade CFDs, you agree to exchange the difference in NEO price from when the position is opened to when it is closed. Depending upon your correct prediction of the market’s price direction, you will make a profit or a loss.
CFDs provide leverage which allows you to make a small deposit to gain total market exposure. However, although leverages can guarantee a significant profit, a miscalculation in reading the market can also magnify huge losses. Thus you must employ suitable risk management strategies while using leverages.
Create a trading plan based on your strategies.
Before you even think of taking a position on NEO, it is wise that you create a trading plan and outline your strategies based on it. While planning, these are the things you should consider:
Your plan should include your daily, weekly, and monthly targets while trading. This would ensure what you are trying to achieve from each position. Based on this, you can outline your trading strategy.
Make a list of exchanges you’d want to use, or try exchanging NEO with other cryptocurrencies or assets from various classes.
You should also include a risk profile while developing a plan. This risk profile should consist of the maximum amount of capital you can afford to risk on each trade.
After developing a plan, you should now strategize your entry and exit of the market. Again, this depends upon your trading style, like position trading, swing trading, scalping, or day trading.
Create a risk management strategy
The cryptocurrency market witnessed massive swings in price due to inherent volatility, which the traders exploit to make an enormous profit. The higher the risk the cryptocurrency possesses, the more are the chances of making a profit.
Nonetheless, you must understand and be aware of the risk involved while trading in NEO, especially if you use leverage. Therefore, traders must develop strategies to maximize profit while mitigating the inherent risk involved. Features like stop-loss and limiting your position help you to protect your trade.
Opening and monitoring your first position while trading for the first time.
Since you are trading for the first time, you should decide if you wish to buy NEO tokens on the exchange or go for a CFD trade. Open the position if the price of NEO is surging or sell it if it is declining. Close the position when you have sufficiently made a profit.
You should make decisions based on research and analysis of the market and have a strategy in place before opening up a position.
You need to monitor the progress of your trade once you have opened up a position and be on the lookout for any fundamental news that might affect the price of NEO.
What moves the price of NEO?
The price of NEO, like most other financial markets, is driven by Supply and Demand. However, the cost of NEO is not affected by the same economic and political factors as they affect the fiat currency system, as NEO is a decentralized cryptocurrency.
Some of the critical factors that influence the price of NEO are:
Supply of NEO
Approximately 70.5 million NEO are in circulation at the time of writing. There was a 100 million total Supply of NEO tokens mined before the NEO network was created. Since the number of NEO tokens is finite, the people assign more value to the token. The value of gold keeps on surging as it is a scarce resource.
At the time of writing, there was 70.5 million NEO in circulation, and the Supply of NEO tokens has a hard cap of 100 million, which was pre-mined during the creation of the network.
The finite nature of NEO means that people could attribute more value to the tokens. Since gold is considered a precious metal and is in limited supply, one cannot increase the supply of gold with the rising demand for it. So the price of gold surges when the demand increases.
So, the demand for NEO tokens could drastically increase the price if the NEO platform is globally accepted.
The ease with which NEO may be purchased and traded on various cryptocurrency exchanges has mainly formed the widespread impression of the token.
Negative media coverage of NEO or cryptocurrency impacts the price of the crypto market. The price of NEO is heavily dependent upon the usage of people. Therefore, there is a decline in the market when the news of regulations or problems on the network floats on the social media platform.
It is advisable you were to keep yourself updated on important cryptocurrency events and announcements with news and trade ideas being floated on the social media platforms.
For many traders, NEO trading has a considerable potential more significant than any other cryptocurrency as it has a relationship with the Chinese government. Despite the government’s escalating crackdowns on cryptocurrencies, local ventures such as NEO that are ready to work within the rules have been encouraged. As China is the largest economy globally and with a more than 1.4 billion population, if this Chinese population were to support NEO, it could lead to massive global adoption. The price of NEO is bound to increase if the local people are to support it. However, if the platform fails to attract significant interest from tech companies, then it could significantly affect the value of NEO.
As the similarity between Ethereum and NEO is similar, NEO is also called “Chinese Ethereum.” Thus, both the tokens are based on smart contracts; the primary goal is to make blockchain technology as accessible as possible to as many people as feasible.
Even though NEO is not as developed as the Ethereum network, it has a lot of potential, as it is a part of China’s evolving technology sector and displays a relationship with Chinese regulators. In addition, the price of NEO is bound to increase if it becomes more widely accepted and used than Ethereum.
What and How Is NEO Trading Different From a Standard Purchase?
It would be wise if you were to remember the difference between holding NEO tokens and trading them. NEO tokens can be bought, held for a certain period, and then sold as and when you wish. On the other hand, trading NEO tokens means that you trade the token’s future price offered by the brokerage websites through derivatives. Thus instead of owing NEO tokens, you trade on the price of the NEO.
There are three derivative products available for trading NEO tokens:
Contracts for Difference or CFDs are financial derivatives mirroring the ever-changing value of NEO without the need for the trader to buy them. NEO CFDs can be purchased when the price is low and sold when the price is high, allowing you to make a considerable profit.
These financial products are time-bound where the trader needs to close the position on a predetermined date. You make a profit if the token’s value goes as per your expectations; otherwise, you make a loss.
These financial products allow the trader to close their orders or let the contract expire on the settlement date. If the trade goes as per the trader’s plan, the trader will execute the contract or discard it by paying a small fee without the risk of significant loss.
Derivatives can be bought immediately and sold, making it the quickest approach to earn profit instead of holding NEO.
You could avoid being a scam victim if you were to pick a regulated and registered broker. Furthermore, to provide a more excellent trading experience, top brokers provide you with a wide range of features.
The nature of trading instruments and their features depends upon where the brokerage service is legally registered and your place of residence.
Several traders indulge in copy-trading. Copy-trading is where the moves of prominent experienced traders on social trading platforms are copied and reproduced by several traders. Thus there are significant chances of making a profit. However, many traders tend to forget that these prominent experienced traders trade in huge volumes and can cushion their loss if the price movement of the trade does not go as anticipated by them. This is not the case for the new traders who follow these prominent traders blindly.
Our Step-by-Step Guide on NEO Trading
We have compiled an in-depth guide to help you trade NEO with detailed steps carefully laid out and explained for your understanding.
Combination of Fundamental analysis and Technical analysis.
Crypto investment strategies require a knack for collating two distinct types of information. Then, based on the data available, you need to make the best-educated decision while trading to maximize the profit and mitigate the losses.
Fundamental analysis forms the first distinct information type.
The price of NEO can be affected by numerous factors since it is traded globally. Recent news, guidelines, analysis, and so forth can drive the market price.
- Demand and Supply:
like any other cryptocurrency, the price of NEO is unpredictable. Since the number of NEO tokens is finite at about 100 million, any increase or decrease in these numbers can affect the price of NEO.
- Follow the General Rule of Economics:
The price of NEO increases as the demand increases, and when the supply increases, the price will fall.
The second distinct information you can derive is Technical analysis. The technical analysis depends upon information, numbers, and stats, making an authentic proof-based decision. Hard data provided on the trading platform is used to forecast the token’s future price. There are a few common markers mentioned below that traders widely use:
- Moving Averages:
while considering this indicator, a subset of the past value or the historical data of NEO is taken into account. A moving average “smoothes out” pricing data to reduce the impact of short-term fluctuations and provide a more accurate picture of the overall trend.
- Relative Strength Index:
This indicator gives the market’s relative strength, outlining NEO being overbought or oversold. The price of NEO will fall if there is an increase in the value of an overbought signal. A drop in oversold value suggests that NEO is likely to rise, signaling a trend reversal.
- Moving Average Convergence Divergence:
MACD determines the difference between a 12-period and 26-period exponential moving average. The combination of the MACD line and the signal line (usually a 9-period moving average) might result in “buy” or “sell” indications. For example, when the MACD line crosses above the signal line, it is a bullish confirmation; it is a bearish confirmation when it crosses below the signal line.
Suppose you wish to carry out a trade at a professional level. In that case, you can also use other technical pointers like Fibonacci levels, various diagrams and chart patterns, and depth charts.
Choosing a Trading Strategy
Even though each trader’s primary goal is to profit from the price swings of NEO, you need to identify which trading strategies will suit you the best. Here are a few prominent trading techniques to help you find your trading strategy.
‘HODL’ is incorrectly spelled for ‘HOLD,’ famous among the NEO communities. It means that you buy and hold the NEO tokens for a long time. It generally means that you buy NEO tokens when the price is low and ‘hodl’ them for an extended period, maybe years, until the price has surged enough before you end up selling it, making a considerable profit in the process.
- Day Trading:
The price volatility of NEO is relatively high throughout the day, giving traders ample opportunities to exploit it. Huge profit can be made by opening and closing orders.
- Swing Trading:
The trading approach is similar to the day trading strategy. However, the position is closed after an extended period, generally ranging from a few days to a few weeks. This strategy needs patience and the ability to read the market indicators precisely to make a considerable profit.
It is a strategy where you tend to spread your risk to make a profit. There are two positions open. You open a primary position based on your research. The secondary is the reverse of the primary position. Thus, a profit is ensured irrespective of how the price movement of NEO proceeds.
It is like day trading, but unlike day trading, where you open a position and close it before the end of the day, scalping is carried out frequently, opening and closing the positions with the minimum price difference. Each scalping trade generally lasts for a few seconds to an hour. As many small trades are carried out frequently, the trader tries to maximize profit and minimize loss.
Other trading options are available, like news and copy trading, where each strategy has its ups and downs. It ultimately falls on you to choose a strategy that best suits you.
Selection of an appropriate platform for trading.
When it comes to NEO trading, choosing the right platform is crucial. You must first choose between using an exchange and using a broker. You can buy NEO with fiat cash through a broker and avoid dealing with the problematic management of genuine NEO tokens. On the other hand, if you trade through an exchange, you will have more leverage and a wider selection of trading pairings.
However, before choosing an exchange or a broker, make sure they are reliable and follow AML and KYC regulations. These safeguard you against regulatory wrangling and con artists. Furthermore, while selecting the best services, your demand must be met by considering the pricing structure and features.
Setting Up Your Account
Join the platform once you’ve chosen it and confirm your account’s identification by email. Next, you must submit a government-issued ID such as a driver’s license or passport to authenticate your identity. KYC and AML regulations necessitate them. Next, you can deposit in fiat or digital currency, depending on your service. Finally, you must open the wallet and select the appropriate payment option.
Prepare your Trading Position
You can begin NEO trading by tapping the “Trade” button once you are done opening the account and depositing the amount. Again, there are many user interfaces to pick from, depending on your selected platform.
The History of NEO
NEO has the potential to pave the path for the new ‘smart economy’ era. The word ‘NEO’ is derived from the ancient Greek prefix ‘νεο,’ which indicates new and young. Erik Zhang and Da HongFei founded NEO in 2014 as a community-driven open source platform application. Initially, the platform was launched as AntShare, utilizing AntCoin on its network.
The project with a new vision to create a smart economy was rebranded as NEO in 2017.
With the help of smart contracts, NEO wishes to achieve this vision. Since its inception, NEO has been China’s first open source blockchain project regulatory. As a result, digital identity is a core principle of the NEO platform, which uses the Delegated Byzantine Fault Tolerance consensus mechanism (dBFT). Furthermore, the NEO platform is known to support 10,000 transactions per second.
NEO is unique as it has two crypto tokens: NEO and GAS. The NEO token, which acts as an investment in the NEO blockchain project, indicates ownership of the NEO platform. On the other hand, GAS grants access to the NEO platform and functions as a system fuel. The NEO token creates GAS tokens, which may subsequently be used to pay transaction fees on the NEO network.
Another feature of NEO is that it uses mainstream coding languages like Kotlin, C#, Go, Python, and Java. In addition, there were 100 million NEO coins pre-mined during the initial block creation and are divisible in the smallest unit of 1. Thus, in 22 years, a total of 100 million GAS tokens will eventually be generated using a decay algorithm.
Uses of NEO
The founders of NEO initiated the coin with a quest to launch the smart economy. The project was conceived to use smart contracts to transform traditional physical assets into digital assets.
These digital assets would be protected by law and will be decentralized. NEO is also in the process of creating the digital identities of corporations and individuals. Smart contracts are another popular application of the NEO platform, which uses the Universal Lightweight Virtual Machine (NeoVM), ensuring high concurrency, certainty, and blockchain scalability. NEO also supports the creation of decentralized applications and other blockchain scalability. Although Microsoft has partnered with the blockchain since its rebranding in 2017, the NEO project has gained several backers and investors.
Why Trade NEO CFDs With Blockchain Tradein?
- Blockchain Tradein offers uncompromised safety. Thanks to six regulatory authorities and segregated accounts, your money is safe at all times.
- Blockchain Tradein offers various individual cryptos; even the obscure ones are available on our platforms.
- There are no hidden fees when you use our platform for trading.
- Blockchain Tradein is among those brokers who allow around-the-clock client support systems in multiple languages.
- We offer significant leverages so that you can increase your profit margin.
- You have the option of customizing the profit and loss levels by customizing “stop loss” and “take profit” limits while trading. For future orders, options like Buy Stops and Buy Limits are also offered.
- Unlike the rest of the exchanges, which only offer their clients to trade in crypto to crypto, we allow our clients to trade crypto against fiat currencies like USD, JPY, EUR, etc.
How to buy NEO on Exchanges?
NEO is also called Chinese Ethereum, allowing smart contracts to enable the development of decentralized apps. Here are steps to buying NEO for Blockchain Tradein:
- Locate your NEO address after getting your NEO wallet.
- You can deposit your Bitcoins or Ethereum to your accounts or buy them through fiat currencies using a credit card or debit card.
- Buy NEO by exchanging Bitcoin or Ethereum.
- Search for your NEO wallet and withdraw your tokens in it.
Does it pose any Threat to purchasing NEO Through An Exchange?
Before buying NEO tokens, you should be aware of their risks. Cryptocurrency is the most volatile commodity, and you could still lose all your digital purchases even if you were to buy them from a reputable exchange. In addition, the risk of making a significant loss exists when the market moves against you, and if you don’t sell your tokens in time, you lose a lot.
The risk of cyber attacks on the exchange and your digital wallet cannot be ruled out. You also need to be aware of phishing scams, virus attacks, and other threats.
The reason you may not trade NEO
Please remember we are not giving you investment advice. Instead, we present the pros and cons of this commodity, and before you make any investment decision, we request you seek professional advice.
Due to Chinese regulations, development has been slowed down.
Being connected with the Chinese market, one of the world economy’s cornerstones, would typically evoke favorable connections for any business or trade venture. Still, in the case of cryptocurrencies, this might be perceived as a centralized point of failure.
The Chinese regulator has already spooked cryptocurrencies after banning all Initial Coin Offerings (ICO).
Furthermore, the Chinese-based NEO is exposed to potential limitations due to the closure of unregulated cryptocurrency exchanges in China.
Ethereum is a powerful competitor.
If we consider it from a platform development point of view, then NEO is competing in the same space and other networks.
Even though NEO is making the right moves by open sourcing their platform and offering bounties to the developers, we still have to see if these developers can compete with the huge developer communities of Ethereum.
What Drives NEO Prices
Many factors are involved in the price fluctuation of NEO. Factors such as total Supply of NEO, mainstream adoption, public perception, and the performance of other competing cryptocurrencies.
Currently, 70.5 million NEO tokens are in circulation, while the total cap is 100 million. Having finite tokens has its advantages as it can create scarcity, and when the demand increases, the price of the token also surges, and when it decreases, the price also drops down.
So when a piece of positive news is floating on the social media platform regarding NEO, then the price will surely increase, and when a piece of negative news is floating around, the price of NEO drops down.
Even the increase in the adoption rate of NEO in institutions and countries increases the price of NEO; if not, then the price will fall as quickly as it spiked.
What broker offers the best NEO Trading Investment Platform?
We at Blockchain Tradein offer almost all the popular coins in the cryptocurrency communities, even the rarest ones. We not only offer you to buy and invest in the NEO but also offer you to speculate on the price of NEO by trading in derivatives.
If you wish to invest in NEO by buying tokens, we even have a NEO-e-wallet where your tokens will remain safe. Purchasing these tokens is also relatively easy and offers NEO a range of buying options. For example, you could buy by exchanging your existing crypto tokens with a Debit or Credit Card and bank transfer.
If you wish to speculate on the price of NEO, then we offer CFDs (Contract of Difference). We also offer leverages for you to maximize your profits.
We assure you that we have no hidden cost when you trade NEO on our exchange when you choose our services.
We have dedicated customer service around the clock who are well versed in the crypto market. Thus if you face any problem while trading or require any trade-related clarification, we are at your service.
We also have our experts continuously writing articles around the clock to provide you with the latest news related to the cryptocurrency world. Thus you remain updated with little or no research on your part.
Learn Investing In NEO In 5 Easy Steps
It is quite easy to invest in NEO and complete the end-to-end investment process in just under 5 minutes.
- Join a regulated exchange and open a trading account.
- Using a Credit/Debit Card, bank transfer, or e-wallet, deposit some funds.
- Decide how many NEO tokens you are interested in buying.
- Confirm and buy the tokens.
- Hold on to your NEO tokens until you wish to trade or sell them.
Choosing The Right Cryptocurrency Platform To Invest In NEO
It is important to carefully choose a broker offering a platform to invest in NEO. It is important for you to do your research before choosing the right platform. We have laid below all the factors to be considered before you choose the right platform to invest in NEO.
Licensing and Reputation: While choosing a cryptocurrency platform, always check if the platform is regulated. Hundreds of third-party cryptocurrencies are available, allowing you to invest in NEO. However, most of them do not have a license to run the show. If you select an unregulated cryptocurrency platform, then you are asking for unnecessary trouble.
Opening up an account with a licensed broker is an excellent option to go ahead with.
You can apply for our services at Blockchain Tradein for investing in NEO. We are regulated and have a license for financial activities.
Fees to Invest in NEO: Like your traditional assets like stocks and bonds, a fee is levied while trading; similarly, while trading cryptocurrencies, fees are charged. Since the exchanges or the brokers also need to make money, they apply fees when the traders trade cryptocurrencies.
Brokerage fees can vary from broker to broker. However, you will generally be charged on every NEO investment you make.
Besides brokerage fees, other fees are levied on the traders, like deposit fees and withdrawal fees, and some may even ask for reactivation fees if your account happens to be dormant for a long time.
Minimum NEO Investment and Payments: The price of NEO jumped from $0.18 to $191 in just two years and now, at the time of writing this article. This, in turn, means investing in NEO, a speculative asset class with high volatility.
You should be aware of the risk involved while investing in NEO. You should check the minimum investment required for NEO by signing up at Blockchain Tradein.
Blockchain Tradein prefers debit/credit cards and e-wallets to process transactions instantly.
Storage and Cashing Out: You need a private cryptocurrency wallet to store your NEO tokens. You need to understand the requirement of private keys, security control, and wallet addresses. Although such knowledge might be sufficient for an experienced cryptocurrency user, this can prove challenging for a new user.
Thus it is in your best interest to find a regulated broker that allows you to store your NEO tokens for you. Blockchain Tradein is being regulated by three leading financial bodies requiring your assets to be kept safely and securely.
This is quite advantageous as you can cash out your NEO Tokens instantly without the need to transfer funds externally from your private wallet. Instead, Blockchain Tradein allows you to just hit on the “Sell” button from the portfolio you have created.
Regardless of the time of the day, you can rest assured that the cash will be added to your balance that can be withdrawn out of the broker’s account into your bank account.
We’re known for wealth management all across the world. We serve over 112 million customers, with 90 million actively managed accounts, 80 million invested accounts, and around 15 million monthly withdrawals. We’ve been featured on several leading financial websites and publications worldwide. In addition, we have a 24-hour support crew available to you since we believe in supporting our clients.
Our wealth managers will take care of your investments. We don’t simply manage your wealth; we also help you build it by assisting you in growing your portfolio. Our money manager will not conduct any trade without alerting you because we believe in transparency. Currently, we cater to a global customer, processing large quantities of the portfolio with the help of strong servers. Furthermore, our industry-leading total margin policy enables our fund managers to maximize your profits in every field while concurrently monitoring the various accounts you hold with us.
Why choose us?
- Our professional wealth managers evaluate the market and any chances it regularly presents to maximize your gains as we manage your portfolio.
- When you require any trading assistance from our end, our support crew is always available to you via a single phone call.
- We provide stocks, cryptocurrency, and other financial instruments that can help you increase your investment returns based on your preferences and a specialized team of professionals to help you get started with your trade.
- We strive to make your experience as the best stock trading platform for beginners as pleasant as possible when you invest or trade on our app. It’s a simple, dependable, fast trading platform with real-time data.
- To reduce your risks and maximize your rewards, we conduct thorough research on your behalf. Professionals are also available to assist you during your trading career. Practical trading tools are part of our services, and we use them to help you manage your portfolio and earnings as effectively as possible.
Frequently Asked Questions
Over the past several years, NEO has remained among the top cryptocurrencies having enough volatility for crypto traders to exploit. With substantial price swings, traders can take advantage by speculating on the price of NEO using CFDs. The advantage of using a CFD while trading on the price of NEO helps to avoid the risk associated with storing and moving tokens from the wallet.
NEO and Ethereum are smart contracts based on blockchain supporting the creation of decentralized applications. NEO carries more transactions than Ethereum per second, while Ethereum is trying to catch up. However, Ethereum has far more users than NEO. Thus, regardless of the token, a trader is only interested in the token’s volatility as the trader can make a profit due to the token’s volatility. Keeping this in mind, NEO is a far better option than Ethereum as NEO is relatively recent and is far more volatile than Ethereum.
When it comes to cryptocurrencies, we must be well versed in cryptocurrency and the crypto market, but we believe simplicity is the best course of action. Instead of worrying about crypto exchanges, private keys, wallets, hackers, and other strange crypto crosses involved while trading NEO tokens, why not simplify these matters and settle for CFD trades. With CFDs, you end up only speculating the price movement of NEO rather than owning one. You can even maximize the profit by using leverages allowed by CFDs. Thus, your trading experience is simplified and will enable you to focus only on the price movement of the NEO.
Trading NEO and other cryptocurrencies might be a good option if you consider it a secondary income source. However, it would help if you thought it was a primary source of income after mastering the art of trading NEO or any other cryptocurrency. It is very volatile, and as there are chances of maximizing the profit, the chance of making a loss cannot be ruled out.
A trader dealing in Futures is obliged to complete the commitment on a predetermined date irrespective if the trader makes a profit or a loss. However, while dealing in options, the trader has no such obligation. Therefore, if the trade does not go as the trader expected, the trader only has to pay token money and not bear the entire burden of loss.
You can Bitcoin Tokens by exchanging your NEO tokens and start trending depending on your exchange or broker.
The Smart economy: NEO aims to convert all the traditional assets into digital ones assuring all the security and perks that digital assets should have while being a part of a blockchain.
Compatible with other languages: A developer does not have to learn a new language to create a smart contract. It is compatible with most coding languages, making NEO the most desirable network for developers and thus increasing its adoption and growth.
Rapid transactions: over 100,000 transactions are carried out per second compared to 15 on Ethereum, its rival. This makes transactions being carried out at a faster and cheaper rate compared to other cryptocurrencies.
Backing: NEO trading company is regulated by the Chinese government, and other company giants like Alibaba are also backing it. Even though its sovereignty is compromised, it is prevalent in China.
Although there are many exchanges and brokers available for you to choose from, you can always try contacting us at Blockchain Tradein.
We, at Blockchain Tradein, have practically all of the currencies that are popular in the cryptocurrency community, even the rarest. We not only let you purchase and invest in NEO, but we also let you trade derivatives to bet on their price.
We even have a NEO-e-wallet where you can store your tokens if you want to invest in NEO by purchasing tokens. Purchasing these tokens is likewise simple, with various NEO purchase methods. For example, you can buy it by swapping your existing crypto tokens, paying with a debit or credit card, or sending money via bank transfer.
We provide CFDs on NEO if you want to speculate on their price (Contract of Difference). We also give you the option of leveraging to help you increase your profits.
We guarantee no hidden fees when you trade NEO on our platform when you use our services.
We have a specialized customer care team that is well-versed in the crypto market and is available 24 hours a day, seven days a week. As a result, if you run into any difficulties while trading or need any trade-related explanation, we will be happy to assist you.
Our specialists also write articles 24 hours a day, seven days a week, to keep you up to date on the newest NEO news. As a result, you stay informed without having to do any investigation.
At the time of writing this article, the price of NEO is roughly around $11. However, there have been times when NEO was as low as $0.18 and was as high as $191. NEO offers massive swings in the price movement; thus, it is ideal for traders to make the most of the opportunities while trading.
As of now, it is ideal if you were to invest or trade in NEO. NEO is relatively a new crypto and has a promising future, and is also quite volatile.
Blockchain Tradein is your answer to long term goals and short term profits, get started now.
If you are interested in investing in NEO or considering making a profit by speculating the price movement of NEO, then you might want to consider NEO CFDs. You could try contacting us today at the Blockchain Tradein, and we will be glad to assist you with all the queries you have.