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How to Buy NEO - Beginner’s Guide 2021

21 Min Read
Last Updated March 26th 2021

Want to jump straight to the answer? You can buy NEO on eToro.

Want to partake in this digital currency phenomenon and learn how to buy NEO? If so, you have landed on the right page.

In this guide, we show you how to buy NEO online. We’ll walk you through the steps of choosing a broker, understanding the potential risks and rewards, and completing your NEO investment in the safest way possible.

Additionally, we walk you through storage options for NEO coins, and how to find an authentic NEO provider to purchase crypto-assets safely.

How to Buy NEO in 5 Steps

Below you’ll find a 5 step walkthrough showing you how to buy NEO right now!

Step 1: Join a regulated and licensed online broker providing access to NEO

Step 2: Fund your new account

Step 3: Buy NEO 

Step 4: Input the amount of NEO you would like to purchase 

Step 5: Confirm the information you have entered is correct 

 

How to Buy NEO Today

if you’re looking for a step-by-step walkthrough, check out the below. We show you how to buy NEO today with eToro commission-free in less than 10 minutes!

Step 1: Choose an Online NEO Broker or Exchange

As is obvious from the 5 steps outlined above, it’s recommended to use an online broker to buy NEO.

If you elect to sign up at the popular crypto platform eToro, you can buy NEO coins on a direct basis, in a secure manner.

There is no doubting how safe this online broker is, as the platform is regulated in several jurisdictions. We cover the importance of regulation in more detail shortly.

Nevertheless, you are not bound to just one method when buying NEO - as you can also purchase your digital coins through a cryptocurrency exchange. Here you can swap another crypto-asset such as Litecoin or Bitcoin Cash in exchange for NEO.

In any case, the chances are that the aforementioned crypto exchange would be free from the watchful eye of regulatory bodies. That’s bad news, are you will be entrusting your money with a platform that doesn’t answer to anyone.

Newbie favourite eToro shines bright when it comes to safety. The online broker is approved by a handful of well respected financial authorities, including FINRA in the US. It also holds licenses from the FCA, ASIC, and CySEC.

This safety net is invaluable for NEO investors because these regulators hold brokers to strict rules when it comes to customer care, client fund segregation, and KYC.

1. Regulation

When contemplating how to buy NEO online - regulation should be up there as a priority.

As we said, regulation offers a secure and trustworthy space to buy NEO - in an otherwise dubious expanse of unaccountable crypto platforms.

Although not a given, it’s highly unlikely that a third-party crypto exchange is going to be regulated. This leaves you vulnerable to hackers, as there are more stories coming out year-on-year of crypto exchanges being ransacked by criminals.

To counter this, there is also the option of storing your own NEO coins after purchasing them. This entails withdrawing NEO from an exchange and into to a crypto-wallet of your own. Although that probably sounds simple enough, this can also be considered a disadvantage.

Not only does this mean that you have to after a long private key - but you are also responsible for keeping your crypto-assets safe from hackers. This is no easy feat - as if you forget your private key, or it gets into the wrong hands - you are unfortunately powerless.

The striking difference between an exchange and a broker like eToro is that the latter will store your NEO and keep them safe. This storage comes at no extra charge, and with the various forms of safety lent from regulation - you can relax, knowing your crypto-assets are secure.

2. Payment Methods

Considering which payment types will be available when thinking about how to buy NEO is a no brainer. Although it has to be said, there is usually a multitude of payment options at modern online crypto brokers.

In a time not so long ago, it’s almost certain you would have no alternative but to pay via bank wire transfer. Even today this is one of the most sluggish payment methods for platforms to process.

Over at eToro a whole host of payment types are embraced. This includes credit and debit cards like Mastercard, Maestro, and Visa/Visa Electron.

Additionally, you can also buy NEO coins using Neteller, PayPal, Klarna, Skrill, and more.

3. Fees and Commissions

It’s important, with any new venture involving finances to make a point of informing yourself of any prospective fees.

It’s crucial for online brokers to charge these fees so that they are able to keep the ball rolling and continue to provide storage as well as access to the cryptocurrency markets. As such, if you time the markets correctly, it’s a win-win for everyone.

When researching how to buy NEO you will no doubt realize that the vast majority of crypto providers charge commission. We find that this tends to be a variable rate against the size of your position.

Like any business, you will find that online brokers vary from one another, especially when it comes to fees and commissions.

To illustrate how this works when electing to buy NEO, see below:

  • As an example, popular crypto provider Coinbase charges clients a 1.49% fee upon entry and exit of the market
  • As such, if you enter your NEO position at $1,000 - Coinbase requires $14.90 in fees
  • Ergo, if you enter the market at $500, you need to pay $7.45 - and so on

In the name of clarity, let’s have a look at an example of how this fee can affect your potential NEO profits:

  • You create a $2,000 buy order on NEO
  • You must pay $29.80 in commission (1.49% of $2,000)
  • At the time of cashing out, your position is valued at $2,800
  • Again, you are liable for a 1.49% commission, which is $41.72
  • You paid a total of $71.52 in commission alone at Coinbase

As you can clearly see, 1.49% doesn’t sound like much. But, by paying this fee on every trade you will soon notice your gains being eaten away in no time.

If you had elected to buy NEO via regulated platform eToro, you would have saved $71.52. Why? Because this online broker is commission-free!

In terms of deposit fees, there is quite a range between crypto platforms. For instance, at Coinbase clients pay 3.99% for each and every debit card transaction. This means that in our example above you would have paid $79.80 to enter your NEO position - had you used a debit card. Then, when you exited your position, the standard 1.49% commission would have kicked in.

Over at eToro, you can deposit using a variety of payment types, and will only be liable to a 0.5% fee if not paying in USD.

4. Other Important Factors

By this point, we have covered the bare bones of how to buy NEO - including regulation, payment methods, and fees.

Before we move onto the next step of our beginner’s guide, we are going to make you aware of a few other important factors.

  • User-Friendliness: It’s important to feel comfortable in the space you are buying cryptocurrencies from, meaning you find the website user-friendly. This is going to make placing NEO orders a stress-free and uncomplicated affair.
  • Minimum Investment: Before committing to an online broker, it’s crucial that you check what the minimum investment is to buy NEO. The reason being, if the platform requires a large minimum on each purchase, this probably isn’t going to be a viable project for you. At eToro, you can buy NEO coins from just $25!
  • Storage: We touched on storage, and how trusting an unregulated exchange or broker with your NEO coins is risky business. If you elect to buy NEO at eToro, you are able to store your purchases at the platform under strict regulation from highly respected financial bodies.

Step 2: Come up With an Investment Plan

investin in neo

It’s a good idea to come up with an investment plan when considering how to buy NEO. Just think of the 6 P’s - ‘Proper Planning and Practice Prevents a Poor Performance’.

When buying digital currencies in such a volatile environment, this makes all the more sense. As such, investors of all skill levels create an investment plan to try and stay on the straight and narrow, keeping trading emotions at bay.

If you don’t know where to start, see a list of purposeful strategies below:

1. Long-Term or Short-Term

When deliberating how to buy NEO - do you see yourself investing in the long or short-term?

Those who engage in short-term investing look to make use of short-term spikes in the price of crypto-assets.

Modest but regular gains are achieved by buying NEO and then cashing out within minutes, days, or weeks - depending on market sentiment and your chosen strategy.

Cryptocurrencies are well known for fluctuating by as much as double digits in a single day. This very volatility is what attracts many investors to NEO coins. In other words,  the ‘risk-return tradeoff’ principle is strong in this game.

In a nutshell - the higher the risk - the higher the potential reward.

On the contrary, a long-term ‘buy and hold’ strategy - as its namesake suggests - entails holding onto NEO.

Depending on the general feeling of the market - you will be holding onto your crypto-assets for months or years. This cuts out the need to keep an eye on short-term price spikes in a highly volatile market - making is ideal for beginners.

2. Target NEO Price

We talked about having an investment plan being a wise idea, so it makes sense that adding a target NEO price is a sensible strategy.

To explain further, if you bought NEO at $15.15 with the vision of increasing your investment two-fold, the digital currency would need to rise in value to $30.30. As such, if you wanted to quadruple the same investment, NEO would have to rise to a price of $60.60.

Although this might sound somewhat improbable - the value of this particular digital currency went from a value of $0.18 in 2016 to an all-time high of $191.00 in 2018. This shows that quadrupling your investment is entirely possible after all.

3. Consider Regular Investments

As is now crystal clear, cryptocurrencies can shift in price by huge amounts.

With this in mind, you should think about including regular investments in your plan, when considering how to buy NEO.

Instead of ploughing your life savings into buying cryptocurrencies - we recommend investing small amounts on a regular basis. Thus building up your portfolio in a risk aversive way.

Some people opt to buy NEO on a monthly or weekly basis, This enables you to grow your cryptocurrency collection without risking too much money each time.

As we touched on, eToro affords you the convenience of purchasing NEO, and any other digital currency, from as little as $25. This makes adding regular amounts to your investment plan effortless.

Step 3: Open a NEO Broker Account

Those of you who have traded commodities, stocks or forex will notice that opening a NEO broker account is the same routine. Go to the website of the crypto provider of your choosing and look for the ‘sign up’ or ‘join now’ button.

Now, of course, you need to tell the online broker who you are. Enter the details asked for in the relevant boxes. Usually, this will be your full name, address, telephone number, email, and date of birth.

Next, you will be asked to provide proof of who you are, so simply upload a clear copy of your passport or driving license. You will also be asked to send proof of your address, which can usually be an official government-issued letter, bank account statement, or utility bill from the last 3 months.

All of the above is standard with any regulated crypto broker as per rules on KYC (with the view to prevent financial crime).

At the risk of repetition, we recommend only ever signing up with a licensed broker, rather than risking your capital at an unregulated exchange. This is because there are hundreds of shady online providers waiting to scam unsuspecting investors.

If you are still unsure of how to buy NEO safely - doing so via crowd-pleaser eToro is a no brainer. The online broker is regulated and serves over 13 million clients.

Not only that, but where some platforms take days to process ID documents - eToro uses modern automated tech, meaning you can usually buy NEO within minutes of depositing.

Step 4: Deposit Some Funds

Having already made sure your payment method of choice is compatible with the crypto platform you have chosen - you are good to go.

As such, you can begin your journey by depositing some money into your account to buy NEO. Undoubtedly,y the most convenient and speedy way to do this is via credit/debit card or e-wallet.

Making a deposit is a walk in the park at eToro., At this platform, you can buy NEO using a variety of methods like Mastercard, Visa, Paypal, Neteller, Skrill, and more.

eToro also accepts wire transfer, but if you are wondering how to buy NEO instantly - this is not the way to do it. After all, bank wires take several days to clear.

Almost all online brokers will stipulate a minimum deposit amount. This How to Buy NEO Guide found that the minimum deposit required from brokers can range from nothing to hundreds of dollars.

Again, regulated broker eToro only asks for a $200 minimum deposit, and you can buy NEO from $25 upwards!

Step 5: Set up a Trading Order

Now that you’ve completed steps 1 through to 4, you can go ahead and set up a trading order to buy NEO.

This order is informing the crypto provider of where you stand with NEO, and how the broker should proceed.

Take a look at a list of the most commonly used orders when purchasing digital currencies.

1. Buy Order

Starting with the ‘buy’ order - this will be the order you use the most when considering how to buy NEO.

If you have a feeling the price of NEO coins will rise - this is what a buy order represents.

If the platform offers the option of ‘going short’, you can make gains from NEO losing value by simply creating a sell order.

2. Limit or Market Order

As you know, many investors take advantage of short-term price shifts of cryptocurrencies. As such, let’s look at ‘limit’ and ‘market’ orders.

If you are happy with the price on offer for NEO - place a ‘market order’ with your online broker. The platform will action this order immediately, meaning you can buy NEO at that price.

Due to the nature of supply and demand, there will almost always be a disparity between the price seen upon placing your order, and the price you get. This is usually inconsequential, like a shift from $15.00 to $14.99 or $15.01.

When it comes to a ‘limit’ order you are able to be more specific with the price at which you wish to enter the NEO market.

See below an example of how you may use a limit order:

  • NEO is priced at $15.50 - but you aren’t interested until it hits $16.00
  • As such, you place a $16.00 limit order
  • If NEO rises to $16.00 - the online broker will execute your order
  • Failing that, your position will remain pending until either a) you cancel it, or b) your price target is achieved

As is clear, a market order is a fast order with no-frills and so it’s simple for newbies. Limit orders enable you to buy NEO at a price selected by you.

3. Stake

Each time you place an order to buy NEO, your broker will need to know how much you want to stake before your order can be actioned. In other words, how much NEO would you like to buy/sell?

As we mentioned, investing little and often is a sensible option for beginners, and a superb way to build your cryptocurrency portfolio.

At eToro, you don’t have to throw wads of cash at purchasing NEO, as you can invest from just $25 each time. This makes a regular investment strategy achievable, whilst learning the ropes.

4. Confirm Order

When you are happy that the information entered in the previous steps is correct, you can confirm your choices with the platform.

Now, the broker will action your orders such as buy/sell, limit/market - of course, at your selected stake amount.

Once your order is executed, your newly purchased NEO coins will be added to your eToro portfolio.

Step 6: Storing Your NEO

We have touched on storage a few times throughout this page, largely because it is an important factor when thinking about how to buy NEO.

Unlike the fiat currencies we pay our bills with, digital currencies are kept on a decentralized ledger. As we said, when it comes to storing your NEO coins online, you can do so via a cryptocurrency exchange or a broker.

To reiterate, although it’s not always the case - most crypto-exchange spaces aren’t under the rule of any regulatory body.

Not only does this mean you are handing your money over to a potentially shady company, but it also means you will probably be forced to store your own digital coins in a personal crypto-wallet. 

This can leave investors rather vulnerable to theft. Alternatively, eToro will gladly store your NEO coins in a safe and secure manner, at no extra fee.

The popular online broker is regulated by ASIC (Australia), the FCA (UK), and CySEC (Cyprus). Not only that, but eToro is also registered with FINRA (US).

Step 7: Selling Your NEO

The obvious goal when electing to buy NEO is that you will sell it later on for more than you initially paid - thus, making a profit.

We mentioned that it’s much more convenient to buy NEO via a regulated broker, but it’s also the easiest and safest route when looking to sell your digital currencies.

After all, clients often have to jump through a few hoops to sell crypto-assets via exchanges. You would likely be required to swap your NEO for a crypto asset like Bitcoin, with a fee for the service. Next, you would need to make a withdrawal request and follow instructions from there.

When it’s time to cash out at eToro, you simply need to sign in and opt to sell your NEO coins. The cash will be sent to your initial payment method, as per KYC.

Other Ways to Buy NEO in 2021

Below you will find a list of alternative ways to buy NEO.

1. Buy NEO Debit Card

Debit cards are well known for being fast and safe and are often used for online shopping. You can also buy NEO using a debit card.

All you have to do is enter your debit card details at your online broker with the amount of NEO coins you want to buy. At eToro, when you want to cash out, hit sell and the proceeds can be sent back to the same debit card.

2. Buy NEO Credit Card

As eToro, you can also buy NEO via a credit card if you wish.

It’s important to be aware that many credit card providers charge a ‘cash advance fee’ when using your card at an online brokerage platform. This is also the case when you use a credit card to withdraw cash from an ATM or at a gambling site.

We find this fee is usually between 3% and 5% so always enquire before making the purchase.

3. Buy NEO Paypal

Whilst not many online brokers allow you to buy NEO with Paypal, eToro does. Not only that, but the platform accepts various other e-wallets like Neteller and Skrill.

PayPal is known around the world for its speed and convenience, not to mention safety.

4. NEO ATM

There are cryptocurrency ATMs scattered around the world,  enabling you to enter fiat cash into the machine in exchange for digital currencies.

Our guide found that NEO isn’t yet available to at crypto ATMs. Having said that, these machines can charge in excess of 20% in some cases - so we find eToro wins every time for convenience and cost nonetheless.

How to Buy NEO 2021 - The Verdict

investing in NEO

In this beginner’s guide on how to buy NEO, we have covered the ins and outs of what you need to know. From the bare basics to fees, strategies, and how to find a trustworthy broker.

We think that whether you are experienced or a complete novice in the world of digital currencies - sticking with a regulated provider is paramount.

eToro offers the protection of regulation, an easy to navigate website, and you can buy NEO on a commission-free basis. There is an impressive amount of payment methods accepted and you can sign up, deposit funds, and buy NEO in less than 10 minutes.

eToro – Best Broker to Buy NEO

etoro broker

eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.

Virtual currencies are highly volatile. Your capital is at risk.

FAQs

How easy is it to buy NEO?

Super easy. Sign up with a broker like eToro. Deposit $200, place an order, and buy NEO from a minimum of $25 upwards.

What is the safest way to buy NEO?

The safest way to buy NEO is via a regulated broker like eToro. The platform is regulated by respected organizations such as the FCA, ASIC, and CySEC. It is also registered with FINRA in the US.

Can I buy $100 of NEO?

Yes, you can. However, if you are a beginner we recommend investing small amounts. At eToro you can get started from $25

Can you lose money on NEO?

Yes, as you can with any financial asset. If you predict the future price of NEO correctly, you will turn a profit. If you don’t, you will lose money. Never stake more than you can realistically afford.

What is the most NEO has been worth? 

The most NEO has ever been worth is $191, which it hit in January 2018.

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