There is no need to be afraid of investing money on the Internet. Anyone can become an investor. The main thing is to have a sufficient amount and strategy for investments. To invest, you do not need to have a specialized financial education. It is enough to familiarize yourself with the rules, read books and watch video tutorials. Often, even a person who is not familiar with market realities can start investing. Try it and you will definitely succeed!
What is NEO?
NEO is China's first open source decentralized blockchain platform for asset digitization. And also managing them using smart contracts. The goal is to create a distributed network with a smart economy.
NEO was originally called Antshares, but went through a massive rebranding campaign in 2017 that promoted it as the next Ethereum Killer. NEO has some significant differences from its predecessor, and its respected team has made efforts to promote the project and create a positive attitude towards cryptocurrencies and blockchain in the Chinese market.
NEO runs on a specially designed algorithm that many experts consider to be the best in the block technology environment.
The project's team is very professional. Judge for yourself: Da Hongfei is the co-founder of NEO and CEO of Onchain. Hongfei is considered the pioneer of cryptocurrency in Asia and one of the most respected cryptocurrency experts. Eric Zhang is the co-founder of NEO and Onchain. Zhang is credited with the author of the Byzantine Delegated Fault Tolerance protocol.
NEO has many partners, including large and influential companies and even an entire state:
- Alibaba - the company is an investor in Neo, and there are also agreements regarding the use of certain blockchain tools.
- Microsoft China is a partnership similar to the above partnership with Alibaba Corporation.
- AdEx is a new decentralized ad exchange platform. As part of the collaboration, AdEx will use Neo smart contracts.
The main advantages of NEO:
- Digital assets on the platform will be protected by law through the use of virtual certificates.
- The system aims to create digital identifiers of organizations, people and information, as well as many factors for access authentication. For example, fingerprints, face recognition and voice recognition.
- The platform will take into account different programming languages when writing smart contracts. Virtual Machine (NeoVM) provides precise scaling and concurrency.
- The blockchain of the coin is focused on the development of decentralized applications such as distributed cryptocurrency exchanges and legal smart contracts supported by artificial intelligence.
Where does NEO come from?
The NEO platform has three main components that will define the smart economy:
- smart contracts;
- new digital asset model;
- blockchain-based structure.
NEO has two forms of digital assets: global and contractual. The former can be recorded in the system space and identified by all smart contracts and users. The second type registers in the private storage area of smart contracts and requires recognition by a compatible client. Contract assets can adhere to specific standards to ensure compatibility with most clients.
How does NEO work?
NEO is a platform that uses two types of tokens at once. One of them is the manager (NEO) and the other is the subsidiary (NeoGas). NEO tokens are slowly generating gas tokens. Used to pay for any transactions on the network.
Neo tokens provide holders with management rights. Including voting to change network parameters.
What makes NEO unique?
The NEO project is promising and can be a good option for organizing payment for goods or services. The developers, on the other hand, fell in love with the platform for its accessibility, thanks to the ability to choose a convenient programming language.
Where to buy NEO in Kenya?
It's easy to buy NEO in Kenya online! The most popular ways to invest in NEO are an exchange or online brokerage platform, which allows you to earn money regardless of the movement of the asset price, whether it goes up or down.
When buying NEO through the exchange, a trader can only open buy deals and make money on the growth of the asset. Short positions are allowed only if there are already open long positions.
Investing in NEO in Kenya on an online CFD brokerage platform opens up more opportunities for the trader. This will allow you to buy or sell a certain number of units of a certain asset, depending on the decrease or increase in its value, and thanks to the leverage. Simply put, you are simply speculating on the rise and fall of NEO rates.
How to start investing in NEO in Kenya?
The number of traders who trade digital assets on a daily basis has long surpassed the several million mark. Some users bought cryptocurrency and keep it in their wallet until the value increases, some monitor the market every day and trade assets.
In principle, based on the reviews of traders, we can say with confidence that trading in cryptocurrencies is a very profitable activity, but only for patient people who are able to devote time to market research, technical and fundamental analysis. To start investing in NEO requires a special approach on the part of the trader, both in choosing a place to trade and in choosing a strategy.
According to traders, digital asset trading is a process that provides a unique opportunity for a profitable investment of funds.
Analyzing the market and understanding what events can affect the value of a digital currency are the main skills that every trader should have. Otherwise, due to the unexpected drop in the price of the coin, users risk losing all their savings. Basically, the cryptocurrency trading strategy is very simple - you need to buy cheap and sell high.
Beginners in this regard do not have the patience and, as a rule, sell coins almost immediately after the price has risen by a few cents. For investing in NEO to bring profit to a trader, you need to prepare for the process and have the following list of knowledge:
- Learn to work with cryptocurrency charts, understand values such as "bullish candle", "rain", "closed candle", etc. - these terms, if they do not predict the future price of the coin, then at least give the trader an idea of the direction in which the asset's rate is moving at the moment;
- Work with the so-called “order book” of quotes. This is a kind of graph that includes information about transactions carried out by users, both buying and selling cryptocurrencies. Based on this chart, you can predict further market behavior and understand which of the assets will continue to grow. If a large order to buy a coin is found, then there is the likelihood of its rapid growth; if a large sell order is placed, it means that the cryptocurrency may soon fall in price;
- Use data on daily trading volume in market analysis. Having found out the amount of daily trading for a particular cryptocurrency over the past week, you can find out how much interest in it from other users. Typically, coins that are very popular and have a large trading volume show small but steady growth.
Based on such analyzes, analysts predict the growth of cryptocurrencies and create so-called signals to buy or sell assets. Newbies pay a lot of money to subscribe to the distribution of such signals in order to buy and sell a coin on time. Having learned how to independently analyze the market for the above points, you can eliminate all risks and possible losses by trading on the exchange. Moreover, in the future it will be possible to make good money on creating signals by selling them to less experienced users.
Today, according to the CoinMarketCap portal, there are about 2,467 cryptocurrencies.
Is NEO a good investment?
NEO is in the top 25 on an ongoing basis and is commonly referred to as "China Ethereum".
Should traders invest in NEO?
At the end of 2020, when the storm began on the entire cryptocurrency market, NEO also gave a strong round of growth, which, although it did not reach the previous maximum, stands out strongly on the chart. So, at its peak, the NEO rate was just over $ 122.
How to buy NEO in Kenya right now?
If you decide to invest in NEO in Kenya on the stock exchange, then often it follows one scenario:
- creation of a cryptocurrency wallet (cold), since it can be dangerous to store funds over a long distance on a crypto exchange;
- replenishment of the account with real money (fiat);
- purchase of the necessary coins at a suitable rate directly on the exchange website through a browser;
- withdrawing coins to your wallet, or to reduce costs in the form of commissions, the amount can be divided into two parts;
- the stage of waiting and monitoring news, quotes until the desired price mark occurs, when it will be possible to fix the profit;
- coins are again introduced to the exchange and sold at a new, increased price.
When buying NEO on the exchange, follow the general guidelines:
- Access accounts on exchanges only from your computer and with a VPN enabled;
- Don't use public Wi-Fi. Hackers can specifically organize a point to intercept your traffic and use it for their own purposes;
- Think about your savings. If something happens to you, loved ones should know how they can access your savings.
The method of investment must first of all be chosen based on the amount of free time and money that you want to spend on making a profit. Those people who consider themselves to be newbies should not choose mining or an exchange, since these options are more risky.
Investing in NEO in Kenya on the CFD trading platform does not require large investments, you only need free time. You are not buying the asset itself, you are simply making money from price movements. Regardless of the movement of the asset price, whether it goes up or down, you can earn money without owning, buying or selling the cryptocurrency itself. So go for it, successful bidding!