With $NEO mooning this week I thought it would be a good time to take a little profit today. Then someone contacted me and said don't sell, put your coins in your wallet and generate $GAS coins! So I looked into it and nice, it's like staking! Gas is just like gas on the Ethereum network, it's used to power smart contracts on the NEO network. With $GAS currently trading at $18.72 lets have a look at this.
First thing you will need to do is download the wallet from Neo.
If you don't already have $NEO, you'll need to pick some up on Bittrex. Make sure it NEO and not NEOS.
ALSO VERY IMPORTANT, The NEO asset is not divisible. Please withdraw only whole numbers. Any fractions will be discarded. Bittrex charges 0.10000000 transaction fee so make sure you have at least 1+0.10000000=1.10000000 NEO to move it to your wallet.
Now, move them off bittrex to your NEO wallet and you'll be earning $GAS.
Let it sit and make you some coin!. It's that easy! If you want to sell your $GAS you'll need to sign up for the Chinese exchange Binance.
If you want to read a report of the for the Tokyo Meetup last night with $NEO's Da Hongfei here is a link to the reddit page.
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I wish I'd read this post a couple of days ago I threw .6 NEO down the drain withdrawing from Bittrex. It's cool earning gas but it's pretty slow, I've just got 0.01 gas from 19 NEO in about 4 or 5 days, still better than nothing
Ya, slow, but if you're not an active trader it's great. Park it and earn. I think for most people this is the way to go.
People have to think long term, not tomorrow's price, but next year's. Most non-traders make that mistake. If this was Ethereum and you were earning ether for every ether parked same time last year, you'd be sitting pretty right now. Same thing with mining. Everyone was saying it's not worth it to mine when Ethereum was trading at $45, then it mooned. Think long term.
This was very informative. I too have benefited unexpectedly from a small early investment in antshares, I'll be following you to see what you do with yours!
nice info
thanks for discussing.steem up.
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already can tell this is going to be a great long term hold
Yep. Read the reddit report from the Tokyo Meetup last night. Some additional info in there.