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What is NEO?
Many may be interested in such currency as NEO. Another of its name was “Chinese broadcast.” Note that during the deep correction and the fall in value in 2019, this currency perfectly resisted the downturn in the market and kept its value. At the same time, Bitcoin rapidly collapsed to a cost of 6 thousand dollars.
Naturally, this currency, under the pressure of falling popularity of cryptocurrency, slipped in price, but nevertheless, it can definitely be attributed to promising projects that have quite strong support, both from developers and large investors, who did everything possible to save prices, and they succeeded.
What is NEO cryptocurrency
The main issue when considering the prospects of the currency is its essence. NEO is considered an independent platform for building a decentralized future economy. More simply, it can be said that this is a non-profit project that contributes to the development of a smart economy. The company’s asset management is performed using smart contact technology. In addition, you should definitely mention the fact that the protocol works on the “Proof-of-Work” system, with the principle of “Proof-of-Stake”, which are far from being known to everyone. A more refined name sounds like dBFT (Delegated Byzantine Fault Tolerance).
NEO and GAS Tokens
In order to confirm the transaction in the network, Gas coins become necessary. These tokens are issued on a par with the main cryptocurrency, with the same amount. While the NEO coin itself is a kind of company stock, GAS is a calculated currency, without which it is impossible to make transactions.
Getting this type of token is easy. When you register a wallet and purchase NEO, you automatically start receiving the second type of coins daily. Thus, earnings can be based not only on the appreciation of the currency but also in the passive version of the accrual of GAS coins.
Currency history
The project itself was founded in 2014, with the initial name it had AntShares, and later was renamed. Da Hongfei, a Chinese entrepreneur and part-time head of OnChain, became the founder. His partner in this was the technical director of the organization, Eric Jan.
And since the cryptocurrency is directly connected with the company OnChain, it is worth considering separately and her. The company itself was also founded in 2014, and now it is a large corporation that is developing the project DNA (“Decentralized Network Architecture”), which means “decentralized network architecture”. Another name might look like a private blockchain system.
Why is NEO interesting and why?
The first feature that distinguishes the project from other cryptocurrency services is the creation of the first, and so far the only, independent CoZ community, which has been able to combine the designers, developers, and translators who daily work on developing the project system.
And today there are many ideas for improving the service and the company as a whole. And already now, cryptocurrency has its own personal wallet for injuring NEON coins, as well as Blockchain-explorer.
Where can I buy a cryptocurrency and how to store it
Already, cryptocurrency is available for purchase on almost all well-known exchanges. It is considered a reliable asset that is time-tested and has a promising idea because it is actively added to all the best selling services.
Tokens can be purchased on such exchanges as Binance, Bitfinex, HitBTC. It is on them the largest amount of coins, and you can buy them without any labor. A full list of exchanges with the current value of the currency can be found on the Coinmarketcap service.
Should I invest in NEO in 2019?
Having reviewed the available information about this cryptocurrency, we can conclude that NEO is not just a currency with a good idea and reliable developers, but a whole corporation with a bright future that is tuned, and most importantly, is able to arrange a revolution in the digital market. The plans of the organization to become good competitors for many smart platforms.
Thus, investments in NEO will probably become one of your best investments and will bring in several hundred percent profits for the period of market growth. And if today the company is young and only developing, then with the time of growth of the market its value.
Should you purchase cryptocurrency?
While the people of the “old school” carry their savings to the bank in order to place them on deposit at a meager interest, the more advanced invest their money in the cryptocurrency, since they are well aware that this asset will bring a good income that no other investment asset will provide.
Suffice it to recall 2009, when investors who believed in Bitcoin bought it for a few dollars, or even cheaper. Today they have billions of dollars in their accounts, and the rate of Bitcoin has grown thousands of times compared to its original value.
Many of these cryptocurrencies are much more affordable for purchase than Bitcoin. It is in them worth investing your money, but you should not forget about the risks. After all, some cryptocurrencies have appeared today, and tomorrow they can also simply and quickly disappear, bringing to the investor, albeit minor, but still losses.
Биткоин и долларовые банкноты. Сараево, 27 сентября 2017 года. REUTERS/Dado Ruvic/Illustration
Which cryptocurrency is best to invest in?
You have the means to invest in cryptocurrency. This is great, only now you have to decide which cryptocurrency is worth investing in. After all, it is no secret that investing in cryptocurrency is not only a possible income, but also no less risk. If you are just starting your way to invest, and you have enough money to buy the most popular cryptocurrencies, it is best to focus on digital assets in the top 10 by capitalization.
They are more expensive, but at the same time, more stable, and their price will not collapse as sharply as it can happen with no one known altcoin. Make a choice in favor of the most popular crypto active assets – Bitcoin, Ethereum, Bitcoin cash, Lightcoin, Dash, Ripple.
And investing in cryptocurrency is not too risky?
Any investment activity is risky, and the purchase of cryptocurrency is also no exception. However, even when you place money on a deposit at a bank, no one will give you guarantees that your bank will not go bankrupt tomorrow, and you will not have to take a long line of depositors to receive funds from the deposit guarantee fund, which will take more than one month.
As for the risks of investing in the purchase of cryptocurrency, the investor himself can reduce these risks to a minimum if he does not invest all the money in the purchase of one cryptocurrency, and distribute them among several assets. In addition, he should be able to determine the best time to buy an asset, as well as its sale, and analyze the possible development of the market situation.
Do not assume that having bought a cryptocurrency once, tomorrow you will wake up as a millionaire. You need to keep a hand on the pulse of the market, not to panic at a time when the value of your asset is sharply reduced. Remember – a fall in the value of a cryptocurrency is always replaced by its growth if we are talking about crypto active assets that are in the top 20 by capitalization.
Any other reasons?
The popularity of Bitcoin led to the emergence of other cryptocurrencies. Sometime later, after the appearance of Bitcoin’s, other similar systems began to appear. Nowadays, people who want to invest in non-traditional assets have a large choice in this market, because now you can find a dozen strong and fast-growing Bitcoin competitors on the exchanges.
Especially among Altcoins (as all cryptocurrencies that are different from Bitcoin today are called), I would like to highlight DASH and ETH. For 2016, the courses of this “digital money” increased by 12 and 8 times, respectively. The difference compared with even Bitcoin is huge: probably, not a single asset of the world brought in the past year the same profit as altcoins.
What Is Crypto Margin Trading?
Margin trading is one of the most profitable and at the same time the riskiest strategies for a trader. This tool is designed for professional traders, and therefore inexperienced players who are not aware of the possible risks and intricacies of margin trading can lose all their funds as soon as possible.
Let’s start: What is margin trading?
However, in margin trading by doubling or even tripling of assets you will not surprise anyone, so many give up their previous work for the trade of Bitcoin and other cryptocurrencies – this is really an analogue of the 1849 Gold Rush, but instead of shovels and trays for washing – computers and software. If you haven’t bought Bitcoin yet and haven’t traded it on the exchanges, it may be difficult at first, but just have patience. So, let’s take a look at the basics of cryptocurrency trading, and then consider the advantages and disadvantages of margin trading.
How to trade on exchanges
On any exchange, the process looks about the same (with the exception of Shapeshift, everything is radically simpler there) – there is a book of orders with orders for buying and selling.
Buying a sales order
The simplest strategy is to buy cryptocurrency at the sale price. This means that another trader placed his order in the book and is ready to sell at this price. The price, in this case, is slightly higher than the purchase price, but the order will be executed immediately. Just enter the desired number of bitcoins, see how much they will cost, then click the Buy button and confirm the order. That’s it, now you have bitcoins.
Purchase order placement: If a trader wants to buy coins at a better price, he usually places an order for purchase and waits for someone to sell. This is what most professionals do because patience allows them to buy cheaper. True, this approach does not guarantee a purchase, because your order may not be satisfied – especially if it implies a price that is noticeably lower than in the order book.
Recommendations for margin trading
Risk Management – When trading with margin, it is important to have clear rules for managing risk and not be greedy. You need to know the amount you are willing to risk and consider that it can be completely lost. Set clear levels to close positions, taking profits or cutting losses.
Be careful – Cryptocurrencies are considered extremely volatile assets. Margin cryptocurrency trading doubles the risk. Therefore, try to use the shoulder to open short-term positions. In addition, although daily commissions are negligible, significant amounts can accumulate over a long period.
How to make a trade with leverage profitable strategy
The trader should decide how aggressive the strategy he wants to choose. It should be borne in mind that leverage allows you to earn much more than the use of equity capital, and an investor with good margin trading experience can significantly benefit from successful transactions, writing off losses to bad ones. Is margin trading suitable for you personally? There is only one way to understand this: start small and try to feel where the market is moving.
Mining Ethereum
Many people often question how to mine Ethereum. They wish to understand the procedure involved in its mining and how it works. For starters, those who are aware of the procedure needed to mine Bitcoin will not find it very different. In fact, it is very similar to how Bitcoin is mined.
Despite popular opinion, blockchain miners don’t just collect cryptocurrency tokens. They are individuals who fill the function of the transitional people –a systematic approach, we don’t find in decentralized systems.
To fully understand the role played by an Ethereum miner, we first need to visualize how an orthodox monetary system works. PayPal and banks consist of checks and balances that ensure no fraud is being committed or mistakes made. Although very exceptional, these institutions run everything from one central point. All the transactions made or to be made have to run through this center in order to be processed further.
Now, one may again question, how these Ethereum miners differ from these institutions? In Ethereum mining, it is upon the miner to verify any changes in the established network. Whenever any modification or transaction is made, there are more than one computers that need to verify that modification or transaction.
For example, let’s assume there are ten computers that need to verify any modification made by a client. If nine of the ten computers verify the modification but one doesn’t, it is very easy to detect which computer didn’t. This makes spotting mistakes easier. Sadly, we don’t see any such system in banks. Whenever a mistake is made, there is no one to rectify it. This approach is what differentiates Ethereum miners from financial institutions. The record keeping model is far more superior to the one we see in centralized models.
Earning of Ethereum Miners
All banks charge a fee for the services rendered. These are usually charges spent on the internal confirmation system. However, when using Ethereum, clients pay the Ethereum miners for the verification services. Each of the modifications or transactions made by the clients are organized or tape-recorded in the form of blocks. Every time a block is completed on the blockchain, a miner earns 5 ETC.
So, how does the mining work? All the modifications made by the client on the DApp takes space –similar to an image storing on iCloud. Since data can be numerous, each set is compressed in the form of a hash. The hash is a string of the code containing all the information –like a zip file on a desktop.
Miners compete to determine the best hash for that specific block of information on the blockchain. This means that more than one miner can work on the same block of data simultaneously. Whichever miner cracks the hash code first is given the 5 ETC. All the other miners than stop working on that code. You can also calculate profitability here.
The Journey from Proof-Of-Work to Proof-Of-Stake
No one can really predict the future of Ethereum mining. Even though the current systems work well, the minds behind Ethereum are on the lookout to find a replacement. The current mining system is labeled proof-of-work. This label makes perfect sense since only Ethereum miners who have, in fact, hashed a block of information are given Ether for their contribution.
As predicted, proof-of-stake might be the future. This new approach may seem a bit harsh as it will limit miners in favor of Ether holders. This means that only those who own Ether towns will reach a consensus.