How to Get a NEON NEO Wallet, Buy NEO off of Bittrex, and Transfer your NEO to your Wallet

in #cryptocurrency7 years ago

NEO_2.jpg

NEO, the most-recently hyped cryptocurrency to hit the scene has caught the attention of many potential investors and the cryptocurrency community at large. Deemed the 'Ethereum of China', this cryptocurrency, through a recent re-branding campaign rom 'Antshares' to 'NEO', has seen a significant spike in price since the onset of the year, recently having entered Coin Market Cap's Top 10 cryptocurrency rankings. Differences with Ethereum include that it has the ability to support multiple developer languages versus Ethereum's one (Solidity) and that its purpose isn't so much to revolutionize currency, but rather to bridge the gap of technology with the current financial system in place.

With that in mind, here is a tutorial for getting an NEO wallet, purchasing NEO, and transferring NEO to your wallet:

Setting up your NEO NEON Wallet:

[1] Go to Github (https://github.com/CityOfZion/neon-wallet/releases).

[2] Scroll down to the 'Downloads' section. If you have a PC (Windows), click to download the one labeled 'Windows.Neon.Setup.0.0.4.exe'. If you have a Mac, choose 'Mac.Neon-0.0.4.dmg'.

[3] Follow the setup. Save your private key multiple times. I like to write it down twice, and then save additionally to LastPass, or some other password protector.

[4] Next, you proceed and it'll prompt you for your private key to log in. Submit the 52-character private key and you'll be brought to the main screen of the wallet.

Setting up your Bittrex Account:

[1] Make an account using email and password.

[2] Once you log in, go to 'Settings' in the top right hand corner of the main screen.

[3] From there, complete the steps required to complete the basic and phone verification. This will be required for you to withdraw your NEO from Bittrex later on (trust me, it's necessary for you to withdraw otherwise when you go to withdraw you get '24hr withdrawal limit reached' even though you haven't withdrawn anything yet; although don't do 'Enhanced Verification' unless you really want to)

Sending your BTC or ETH to Bittrex:

[1] On Bittrex, go to the top right-hand corner tab labeled 'Wallets'

[2] Depending on whether you want to use BTC or ETH to purchase NEO, click the '+' button of either BTC or ETH.

[3] From there, it will take a few minutes for your address to generate but once it does, copy it.

[4] Next, log into Coinbase and go to 'Accounts'.

[5] From there, go to your Bitcoin or Ethereum account and click 'send'

[6] Paste the address into the 'recipient' area. Choose how much ETH or BTC you want to send to the exchange and proceed onward (NOTE: as a word of caution, you can only buy whole NEO so for however many NEO you wish to purchase, add 0.15 to that and then input that; for example, if you want to purchase 5 NEO, add 0.15 so that it is 5.15 NEO and then multiply that by the market price on coinmarketcap.com (since coinbase does the BTC-USD $ value exchange in that same dialog box for this [4] step and previous [3] step, all you have to do is see how much $ in NEO you are looking to spend including the 0.15 and it'll automatically tell you how much BTC that is).

[7] Send the BTC or ETH to Bittrex. It should take roughly five or ten minutes for it to transfer.

Purchasing NEO on Bittrex:

[1] Once the BTC or ETH transfers (you can view this in 'Wallets'), click the Bittrex home button on the top left-hand corner of the page labeled 'Bittrex'. This will bring you to the types of markets available. Choose either 'BTC-NEO' or 'ETH-NEO' and you're good to start buying.

[2] On this page, go down to 'Trading' on the left-hand side of the page. To the right of 'Units', type how many NEO you would like to buy + 0.025 NEO (NOTE: the 0.025 is for the Bittrex trading fee for withdrawing your NEO; it is EXTREMELY important to include this, otherwise Bittrex may short you a whole NEO when you go and withdraw it from the exchange. For example, if you want 5 NEO, type 5.025 units.

[3] Next, click on the 'Price' dropdown box, to the right of 'Bid'. Click 'Bid', as this is a buyer's market, and it will immediately sell (ie it's cheaper for your NEO)

[4] Once the BTC or ETH 'Total' field autofills, click the 'Buy NEO' button at the bottom.

Transferring NEO back to your NEON NEO Wallet:

[1] Go back to your NEON wallet and copy the public address, right underneath the big green 'Send' button in the top left-hand corner.

[2] Back on Bittrex, go back to the 'Wallets' tab on top right-hand corner of page.

[3] To the left of your NEO Account Balance, click the (-) button.

[4] In the dialog box, paste the address and enter the quantity that you want to send back to your NEO wallet (NOTE: if you want to send 5 NEO back, just enter 5 NEO: the 0.025 tx fee will be taken out of your remaining balance on the exchange).

[5] Click the 'Withdraw' button and you're good to go. It'll be roughly ten or twenty minutes before it transfers.

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Very good blog. I was about to post a similair thread. There's a lot of exchanges out there. I found that coinmarketcap.com gives quite a decent overview. Personally I always use: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. Go to: https://www.coincheckup.com/coins/Neo#analysis For the Neo Report.