If this is not the first time you hear about cryptocurrencies, then you probably know that most decentralized applications are built on the basis of Ethereum. However, the brainchild of Vitalik Buterin is not at all unique. How many times in the media you could read about the next platform and technology that will send Ethereum to the past. And yet, the most notable Ethereum killer can rightfully be considered NEO.
What is NEO?
NEO is a China-based decentralized application platform developed by blockchain company Onchain. The project started in June 2014.
It is worth highlighting a number of important benefits and positive aspects of the NEO project:
- Energy efficiency and safety thanks to the delegated Byzantine fault tolerance protocol.
- Token holders can place bets on their tokens and receive voting rights, while receiving GAS as a reward.
- It is protected from quantum computer hacks through quantum cryptography.
- Its network is more flexible for developers as it accepts more programming languages than Ethereum.
- NEO and GAS have no transaction fees. Users can also pay transaction fees to get priority in the transaction queue. It can support 10,000 transactions per second as it has ample room to scale.
- Support from the Onchain company. With which NASA, Alibaba, Microsoft China, Hyperledger, Fosun Group also work.
A year later, the ICO allowed the NEO project team to raise such an important investment of $ 28,000,000.
Neo is very often compared to Ethereum, calling it the next "Ethereum killer". However, if you dig a little deeper, you can see that although the two projects overlap, they ultimately have different goals.
The idea behind Ethereum is to implement a cheaper, more accessible and secure Internet, which many have already named "Internet 3.0", by providing developers with a convenient platform to run dApps. Neo, on the other hand, is more aimed at the state and companies, since the main purpose of its creation was to implement a "smart economy" with a digital identification function. The orientation of the Neo cryptocurrency towards the creation of a "smart economy" is a prerequisite for the creation of a whole ecosystem of exchange of various digital assets among themselves. Cross-chain transactions are a "natural" feature of Neo. Atomic swaps have not yet been developed on the Ethereum platform.
The developers are constantly working to improve the Neo environment that allows you to run a decentralized application, and there are already a decent number of companies that have opted for Neo over Ethereum.
Where does NEO come from?
NEO has two of its own cryptocurrencies. NEO is a cryptocurrency used for platform ownership. GAS is a cryptocurrency used to pay for services on the network. GAS is also generated and earned in exchange for placing tokens, similar to placing your money in a bank and receiving interest.
How does NEO work?
It uses an optimized Delegated Proof of Stake system called the Delegated Byzantine Fault Tolerance protocol. Delegated Byzantine Fault Tolerance Protocol is a process in which stakeholders select the nodes they want to validate with transactions on the network, and then those select nodes select the "special nodes" that create the blockchain. This is necessary to build consensus on the network and avoid having to fork the blockchain to update the network.
What makes NEO unique?
To create smart contracts based on NEO, you do not need to learn a new programming language. The system supports a number of well-known languages.
Where to buy NEO in Qatar?
Anyone can become the owner of a cryptocurrency. Cryptocurrency Neo is included in the TOP-50 tokens by capitalization, so you can buy it on almost any site.
You can buy NEO in Qatar through one of the cryptocurrency exchanges by creating your account on a crypto wallet. This way of investing in NEO is more difficult, as you need to choose the right moment to buy, buy and close positions.
An alternative way to invest in NEO is to trade CFDs on an online brokerage platform. You are simply speculating on the rise and fall of NEO rates. Trading CFDs on cryptocurrencies has a number of advantages over owning the cryptocurrency itself directly. On the trading platform, you will not have a limit on transactions with CFDs for cryptocurrencies. Trading with CFDs, you can earn money around the clock.
How to start investing in NEO in Qatar?
The main feature and characteristic feature of cryptocurrencies is that, unlike any classical investment instruments, they are in reality not supported by anything and are not controlled in any way. This fact is responsible for the high volatility inherent in digital currencies, i.e. exchange rate fluctuations. Both relatively natural factors (release of updates) and artificial (news, mood of market players, trends, etc.) can affect the cost of cryptocoins.
If you decide to invest in NEO in Qatar, technical analysis is a must-have tool for you. There are thousands of indicators on the basis of which crypto traders develop their own strategies. There are effective strategies that have become very popular among novice traders due to their simplicity.
Technical indicators reflect real market indicators and help identify key support / resistance levels, overbought / oversold levels, trend direction and more.
With the help of indicators, crypto traders can find the optimal entry points to the market and receive signals to buy NEO with a certain accuracy.
Based on the indicators, traders create their own strategies. When investing in NEO, a trader must combine indicators for more accurate signals in order to better see a comprehensive picture of what is happening in the market. This eliminates unnecessary noise and allows you to retrieve the necessary information faster and better.
Typically, crypto exchange terminals contain pre-configured basic indicators that a trader can use in their trading, such as SMA (Moving Averages), MACD, Volume and others.
Traders can independently add, remove and configure the indicators they need in accordance with their individual trading preferences. If a beginner trader wants to invest in NEO in Qatar, then the standard settings will be enough for him - they are recommended by the creators of these indicators. As you gain experience, you will learn how to customize the parameters for yourself.
Popular NEO investing strategies
Scalping is not the easiest strategy for novice crypto traders, but with proper risk management it can bring good results. The essence of scalping is to make many trades throughout the day for a small profit of up to a few percent. Indicators are suitable for buying NEO: SMA; MACD; Parabolic SAR; RSI; Volume.
Trading with the trend
Another popular strategy among novice traders is trend trading. In this case, it is necessary to determine in which direction the price is moving at a given time. Trends are local and global. Global trends are suitable for medium to long term trading. Indicators: MA (SMA, EMA, etc.); Stochastic RSI and MACD.
Breakdown of the resistance level
This strategy is used when a new trend has not yet formed, but a breakout of a key level may indicate a change. Over a period of time, the price can bounce off support and resistance levels for a long time. But sooner or later the market forces are outweighed in the other direction: the price cannot move in only one direction. When the rate rises significantly, buyers weaken and bears are actively involved in the game. The converse is also true. Indicators: MA (SMA, EMA, etc.); RSI; Parabolic SAR and Volume.
Strategy for MACD
MACD (Moving Average Convergence / Divergence) is one of the most popular and simplest indicators in trading. It is the simplicity of its use that is the reason for such a popularity of the indicator. Indicators: MA (part of MACD) and MACD.
Since cryptocurrencies are not backed by anything, investing in NEO for the long term in order to generate high returns has more to do with hope and luck than anything else. However, trading at an average distance may turn out to be, albeit not so profitable, but more stable and relatively predictable.
In order for a future successful investor to start his journey, he needs to have money for an initial investment. Basic knowledge of investment and economics is desirable. With such a baggage, he will be able to assess the prospects of his investments, making them more deliberate. We wish you a successful investment!
Is it safe to invest in NEO online?
How to protect yourself:
- Link your account to a mobile phone number;
- Use strong passwords for all services. Use different combinations of numbers and numbers;
- Connect two-factor authentication.
Is NEO a good investment?
During the entire existence of the Neo, it was just a bit short of it to get to the price of $ 200 - the maximum cost was $ 196.85. Like most cryptocurrencies, the all-time high occurred in January 2018.
Should traders invest in NEO?
For a long time, NEO has been a favorite for its ability to provide secure digital management of real finances. In addition, experts praise the idea of a smart economy that rewards consumer safety through regulatory compliance.
How to buy NEO in Qatar right now?
The current trend in internet business is to learn how to buy NEO through online trading platforms. The Internet is becoming a favorite destination for traders due to its favorable business environment and growing entrepreneurial opportunities.
If you want to start making profit in the market, the easiest and easiest way is to invest in NEO through a brokerage company. The broker usually has a simpler registration procedure and replenishment of the deposit for the purchase of cryptocurrency. With the help of CFDs, you can earn on "predictions" of the behavior of the cryptocurrency rate. To do this, the investor needs to place a bet on which direction the asset price will go.
If you decide to invest in NEO in Qatar, we recommend that you immediately go through verification on the selected exchange, as this reduces all possible problems that may arise in the process. After that, choose a pair of cryptocurrencies convenient for you and replenish the exchange wallet (this is not at all difficult to do, each exchange has several payment gateways (check the commissions and limits in advance)). Now let's move on to buying NEO. If you do not want to overpay, I recommend using exchange terminals (instant exchange does not take place at the rate).
Trading itself does not cause any difficulties, since the user will carry out a small number of transactions, following the "buy and hold" strategy. You can master the terminal and the required minimum of its capabilities, as well as create a reliable wallet in just one day. I wish you success and stable profit!