NEO is really catching on more and more in the market and the price is reflecting this gain in popularity by going up. So its no wonder that you are looking to buy some. In this short post I’ll be going over how to buy NEO the easy way. This is how I buy NEO and this is how I recommend other buy it. Its safe, easy, and you will have your NEO shortly.
I’m guessing at this point you have already done your research on NEO and are looking to buy it for good reason. Personally I think its a great investment but I still always recommend that everyone do some of their own research before getting involved.
But anyway… lets get to it…. how to buy…
Step 1: Get Bitcoins
I know this may sound weird but you will need bitcoins first. After buying these bitcoins I will show you how to exchange them for NEO. Its not the most straightforward process out there but its the easiest way to go about it at this point.
So if you have bitcoins already then you can go to step 2, but if not I’ll show you how to get some.
I always recommend buying bitcoin at Coinbase. Why? Well because they are based in the US, they have a professional staff with a good reputation, and I have been using them for quite a while and know they can be trusted. Oh and also they have a good insurance policy in case of getting hacked or something like that.
The first thing you will have to do is create a Coinbase account. If you use my referral link here www.coinbase.com/join you will be able to get $10 in your account for free.
Setting up your account is pretty easy so I won’t go into detail here.
The next step would be to add a method of payment, which is what you will use to buy the bitcoin. To do this you will have to go into Settings > Linked Accounts > Link a New Account. Then you will be able to add either a credit/debit card or link your bank account. Debit/credit card transactions are much faster and happen instantly which bank transfers take longer.
Coinbase is very safe and you will have to go through the verification process in order to use your payment method. Once you have done that you can then go to Buy/Sell, click on Bitcoin, choose your payment method, enter the amount you want to buy and click buy…
If you used a credit/debit card you will have your bitcoin right away, if not it will take longer.
Step 2: Transfer Bitcoins to Exchange
Now you are going to want to transfer your bitcoins over to an exchange. First of course you will have to open up an account at one of these exchanges.
I recommend using Bittrex. They are another trusted company and I use them more than any other. So you will have to go to Bittrex.com to do this.
After opening your account and going through the verification process and all of that you then need to go to Wallets and go to your BTC wallet, which you will automatically have. Then click on the + sign of your BTC wallet.
After clicking on that + sign, you will get your wallet address where you can send your bitcoin to from Coinbase.
You will have to copy that address, which will be a series of numbers and letters, and then head on back over to Coinbase. You are going to want to click on Accounts, find your bitcoin account and click on the Send button. In my example I don’t have any bitcoin to send but you will be able to click on that.
After clicking on it it will give you an area where you can paste in the destination address that you just copied from Bittrex and you are good to go. Just enter the amount you want to send and click to send.
Step 3: Exchange Bitcoins for NEO
Ok so after that transfers on over to your Bittrex account you then are ready to exchange it for NEO. To do this go to bitcoin markets at the top and search for NEO, then click on it. This will take you to the trading page.
Then once you get to the page scroll down and you will see the Buy NEO area…
As you can see I have labeled 1, 2, and 3 to make it easier to understand.
The units (#1) are the amount of NEO that you are going to buy. You can choose to enter that in or you can enter in the bitcoin you are willing to spend later. So you could leave this Units area blank if you would like.
The Bid (#1) is the ration or NEO/BTC that you are willing to pay. Its the price of NEO/BTC. If you click on Price there will be a dropdown and I would suggest choosing “Latest”. This will give you the current bid price that NEO is being sold at. You could choose lower than this but then your order might never get filled. If you choose the latest price someone is going to sell to you right away.
What you have to remember is that an exchange like this just matches sellers up with buyers. So you are buying from someone that is trying to sell. Of course buyers want to buy low and sellers want to sell high. The price in the middle is where these both meet and that is the current or “Latest” price.
The Total (#3) is the total amount of bitcoin you want to exchange for NEO. If you enter this and you already entered the Bid price then the amount of NEO you will get will be automatically calculated.
Then all you have to do is click on buy NEO and your order will be filled. Simple as that.
What to Do Now
Now you have your own NEO. If you are going to be holding onto it for a long time I would seriously look into getting a cold wallet to store it. This way it isn’t able to be hacked. I especially suggest this if you just bought large amounts.
There are different ways you can go about doing this but I’m not going to get into that here.
Summary of The Process
Ok…. so first you need bitcoin. If you don’t have any then go to Coinbase and buy some with your debit/credit card or your bank account. Use my referral link here www.coinbase.com/join if you want free $10 of bitcoin in your account. Then transfer your bitcoin over to Bittrex and exchange it for NEO. Simple as that!
If you have any questions or comments be sure to let me know in the comment section below. I’ll get back to you soon 🙂