Buy NEO: Is it worth it? Analysis And Forecasts
Published: 29 November 2020 by Valentina
NEO is a new generation cryptocurrency became famous thanks to its explosive growth. But why is buying NEO so profitable? To answer this question, we must analyze the system on which NEO is based and the growth forecasts made by the main analysts.
Actually, buying NEO is pretty simple, just follow these 3 steps:
- Choose a regulated CFD Broker, which is preferable to Exchanges.
- Practice on the Demo account to familiarize yourself with the platform.
- Make the minimum deposit required and start investing in the real market.
These are essential steps to buy NEO sasfely without paying commissions.
Thanks to CFD brokers, like eToro, we can trade cryptocurrencies like NEO safely and avoiding the risks associated with Exchanges.
Here are the best platforms available:
Min. Deposit: 50€
Min. Deposit: 100€
Min. Deposit: 50€
Min. Deposit: 250€
Min. Deposit: 100€
72.30% of retail CFD accounts lose money
Min. Deposit: 250€
Buy NEO: What it is and how it works
NEO was founded with the name “AntShares” by Da Hongfei and Erik Zhan in China in 2014 and was renamed “NEO” in June 2017. It is a blockchain-based platform that supports its own cryptocurrency and enables the development of digital assets and smart contracts .
The goal of this cryptocurrency is to manage digital assets through smart contracts, in order to establish an entire smart economy.
NEO’s Smart Economy = Digital Resources + Digital Identity + Smart Contract.
Resources can be easily digitized on the NEO blockchain in an open, decentralized, traceable way, free of intermediaries and costs.
Users can register into this network and buy, sell, trade or circulate various types of assets. The network uses digital identities associated with real assets. NEO also supports asset protection. The assets registered on its platform have a validated digital identity and are protected by law.
Thanks to smart contracts, transactions can be carried out between the parties without the need for a “central control system”. These transactions are traceable, transparent, and irreversible precisely because of the network architecture.
Buy NEO: Quotation and value in real time
Is buying NEO worth it?
NEO has the potential to emerge as the cryptocurrency of choice in China, and possibly around the world. NEO’s Onchain technology was designed to be compatible with regulators to integrate with a “real” economic system.
In the graph below, we see the history of NEO that after the launch, like most of the emerging cryptocurrencies, has reduced its market price until its value reached more or less 1/10 of the price seen at the time of the initial listing.
Buying NEO is worthwhile for its innovative system, which aims an integration with the market like few other cryptocurrencies can.
While working on NEO, the founders of cryptocurrency, they attracted the attention of many companies looking for customized blockchain solutions. From here, Onchain was born, an independent technology company that provides blockchain solutions to various companies.
While NEO works like Bitcoin and Ethereum, Onchain focuses on creating private blockchains to meet the specific needs of a company or sector.
Ultimately, NEO and Onchain can aggregate the completely decentralized, unregulated, and anonymous blockchain system with the conventional economy compliant with the KYC (identity verification system), which is the current system used by banks and credit cards.
How to buy NEO
Buying NEO means buying cryptocurrencies. There are two main systems for making this type of transaction: Exchanges and CFD Brokers.
Exchanges are websites that have no regulation and do not comply with really effective security systems; in, fact they have suffered numerous cyber attacks in which many cryptocurrencies have been stolen.
CFD brokers, on the other hand, are safe and regulated intermediaries, where there is no risk of theft because you do not really get hold of cryptocurrencies, but negotiate contracts that represent them and have the same price as the cryptocurrencies.
Choosing between these two systems is quite simple, because they have very different characteristics that we will now try to summarize:
Pros > You “really” buy cryptocurriences
Cons > Commissions to be paid
> No license
> You can only invest upwards
> Serious security concerns
> Slow transactions
Pros > They are safe and licensed
> You can invest both up and down
> There are no commissions
> There is no risk of cryptocurrency theft
> Immediate transactions
Cons > You don’t “really” buy cryptocurriences
In summary, we can say that to buy NEO:
- The Exchanges are ultimately expensive (commissions to be paid), unsafe (they suffer frequent cyber attacks), and allow you to earn only in the event of a rise in prices.
- CFD brokers, on the other hand, are safe and regulated, do not charge commissions and also offer the possibility of earning when prices fall (short selling).
Buy NEO with the best platforms
We have analyzed the main methods used to invest in cryptocurrencies. At this point, we need to understand how to choose the best platform.
Having ascertained that CFD Brokers offer greater advantages over Exchanges, we can add that you must trust only intermediaries with a regular FCA or CySEC license.
The trading platforms offered by the brokers listed here do have these licences. Moreover, they are very intuitive and to trade you just need:
- To buy NEO CFDs to profit from the cryptocurrency price growth
- To sell NEO CFDs to profit from the falling cryptocurrency price
Once the desired price is reached, the transaction is closed and net profits can be withdrawn or reinvested, without commissions.
OnlineTradingCourse, which constantly analyzes CFD brokers, believes that the best platforms where you can buy NEO safely are those offered by eToro, ForexTB and IQ Option.
eToro: Intuitive platform to buy NEO
eToro has achieved unrivaled popularity in the world of trading intermediaries. Its over 7 million active users can buy NEO thanks to one of the most intuitive platforms on the market:
Security is guaranteed by numerous international licenses, including that issued by FCA. Here’s what NEO’s CFD looks like on the eToro platform in the screenshot below:
To buy NEO (or sell it), you have to click on “Invest”, decide whether to buy or sell the cryptocurrency, and how much to invest in the operation.
What has made eToro so famous is its patented automatic investment system called Copy Trading. This system offers the possibility to copy the operations performed by the best traders in the world (on eToro) automatically and for free.
- Register on eToro
- In the section “people”, you can choose the traders to copy based on the performance.
- With a click, Copy Trading will copy exactly the same operations of the chosen traders in your account.
- At this point, you will get the same returns as these trading experts (of course, in proportion to your investment), without doing anything else.
Here, you can see some of the eToro Traders that can be copied.
Both Copy Trading as well as traditional trading can also be tested on a free Demo account, without taking real risks.
For more details you can read our full eToro review.
ForexTB: Trading signals to buy NEO
ForexTB is an intermediary that has focused its efforts on the progress of its users, improving training and operational support.
On a technical level, it allows you to choose between two trading platforms that can be used for free and meet the needs of any trader:
- The web platform is easy to use and can be entered from any browser without downloading any software.
- Metatrader 4 is more technical and full of professional indicators and meets the needs of the more experienced traders.
Buying NEO is very easy, just click on buy or sell and decide how much to invest in the operation.
The security of this broker is guaranteed by a license valid throughout Europe and in the UK, the one provided by FCA.
As we have mentioned before, ForexTB focuses a lot on training. Indeed, it has created a free trading course to learn the basics of online trading. This is a really comprehensive ebook, considered the best on the market. To get it, just use the official link below:
A real contribution to traders’ operations is also provided through the free Trading Signals, useful operating instructions that have a success rate of over 70%.
IQ Option: Buy NEO with 10 Euro
IQ Option is a truly innovative broker especially appreciated by less capitalized users and novice thanks to its truly unique commercial proposal.
We all know that CFD brokers are commission free, but to start trading you need a small investment, which is the minimum deposit required to open the account. With IQ Option this deposit is only 10 Euros!
With such a small minimum deposit, anyone can start trading and buying NEO!
Despite this so cheap entry threshold, IQ Option still offers the possibility of practicing with a free and unlimited Demo account where you can trade with virtual money and risk nothing.
The IQ Option trading platform is very advanced but at the same time easy to learn, ideal for both newbies and more experienced traders. The tools and indicators available are among the most professional that can be found in a trading software.
IQ Option is authorized by FCA in the UK; therefore, you can trade in total security.
This broker is also focusing on training and has made an entire educational area for its users, full of courses and material explaining the essential strategies and concepts for online investments.
Buy NEO forecast
NEO has a lot of potential and represents a very attractive long-term investment in the world of cryptocurrencies. To offer a picture of the future of this cryptocurrency, let’s look at the predictions of the most influential analysts:
- Essere Crypto predicts NEO could reach $ 120 by the end of 2021 and in five years it could rise as high as $ 450.
- Wallet Investor has predicted that NEO could reach USD 30,381 by the end of 2020. In 5 years he believes NEO could reach $ 103.70.
- Long Forecast predicts that the price of NEO could drop to around $ 9 in 2020. But 2021 will be positive and NEO could rise as high as $ 21.
- Crypto Ground estimates growth of up to $ 195,352 within the next 5 years. In the short term, there is too much volatility to make a forecast.
- CoinFan believes that NEO could reach $ 200 by 2021 and next year it could rise to $ 783, a very optimistic forecast.
NEO pros and cons
Frequent developments make NEO one of the most coveted cryptocurrencies and one of the most attractive investments in this volatile market. Let’s analyze the pros and cons of it:
- NEO aims to provide the economic platform of the future
- Thanks to its Onchain network, it has created a link between real finance and cryptocurrencies
- Its algorithm allows for very fast transactions
- Neo was born in China and is indirectly linked to the performance of this market
Our analysis showed the robustness of NEO’s infrastructure, which unlike many cryptocurrencies, seeks to offer an integrated system based on smart contracts and digital identity, meeting the needs of governments and large companies that do not like anonymity.
The forecasts for this cryptocurrency are bullish in the long term and a little less clear in the short term. But thanks to CFD Brokers, you can invest both up and down on NEO and still make a profit.
You can start by practicing on the Demo account, without risk, and then make the minimum deposit required by the Broker and start buying NEO on the real market.
Here are the official links to access the Demo accounts of the best cryptocurrency trading platforms:
- Practice the eToro Demo account for free by clicking here
- Register for free on ForexTB and access the Demo account from this link
- Access the IQ Option Demo account for free with this link
NEO’s listing is based on supply and demand so we don’t think it’s undervalued but just still very young.
In the long run: Yes, its infrastructure is very innovative and attracts large companies.
Forecasts for NEO are bullish.
The best platforms to buy NEO are those offered by the CFD Brokers we have examined in this guide.