NEO (NEO) is a blockchain platform, cryptocurrency and network for decentralized apps that uses blockchain technology to digitize identities and assets and to automate their management through smart contracts. NEO wants to create a smart economy with the distributed network. NEO was initially developed by the Chinese company Onchain, after which it has become an open protocol and focuses primarily on the Chinese and Asian markets.
With the smart economy, NEO wishes to make it possible for e-commerce to take place without a trusted third party now that the agreements are written in programming code with the help of smart contracts. Such a smart contract is stored in the decentralized NEO blockchain and will be executed as included in the code. This makes it possible for everyone to enter into online agreements with each other now that there is the certainty that the agreement will only be executed as previously agreed by the parties. In addition, NEO technology makes it possible to digitize assets and identities, so that the NEO blockchain can also be accessed by physical products.
Parties must pay GAS for the implementation of agreements on the NEO blockchain. GAS is the fuel on the NEO blockchain and belongs to the NEO owners. With NEO you actually buy a right to a part of the NEO blockchain.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store NEO. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing NEO and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store NEO without any technical knowledge. Here is a brief overview of the existing wallet options to store your NEO:
Hosted wallets are wallets where the private keys to your NEO are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your NEO online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
A software wallet is a program installed on your computer or other device in order to use and manage your NEO. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your NEO, and if malicious parties have access to your device, your private keys (and therefore your NEO) can be stolen.
A hardware wallet is a physical device on which you can store your NEO offline. It is one of the safest ways to store your NEO, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your NEO is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive NEO. Once you have purchased NEO on Bitvavo, you can choose to send your NEO from your Bitvavo wallet to your own software or hardware wallet.