Invest in NEO in the UK – How to Invest in NEO for Beginners
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
With an objective to create a new generation of the internet, NEO is a fast-growing ecosystem that seeks to integrate digital payments and assets. Following its launch as Antshares, the project was renamed NEO three years after and has focused on building a community of next-generation developers.
Suppose you want to learn how to invest in NEO in the UK, there are a few things to understand. These include the steps to invest in the token, the credible broker to use, and a host of other important aspects, which have all been covered in this guide.
Table of Contents
#1 Broker to Invest in NEO in the UK – eToro
How to Invest in NEO in the UK – Choose a Broker
We have provided the top 3 brokers to invest in NEO in the UK below. You can find our full review later in this guide to know more about these investment platforms.
- eToro – Best Broker to Invest in NEO in the UK
- OKEx – Invest in NEO in the UK Through a Low-cost Broker
- Binance – Crypto Exchange to Invest in NEO in the UK Alongside 100+ Assets
These brokers offer great services that you can utilize to invest in NEO seamlessly. You’ll find out more about the platforms as you scroll down.
How to Invest in NEO in the UK – A Quick Guide For 2021
Suppose you’re uninterested in a detailed guide and simply want to invest in NEO in the UK quickly? If so, this section has been prepared for you.
- Step 1: Open an eToro Account – This broker offers some of the best services for investors looking to enter the NEO market. To utilize this broker, you’ll first have to create an account. Simply proceed to the eToro website to kickstart the registration process and fill in all the relevant details.
- Step 2: Provide ID – eToro requires that all users verify their identities before they can invest in NEO through the platform. This is because the broker is regulated and must comply with KYC laws.
- Step 3: Add Funds – You’ll have to add some funds to your account. This is the investment capital with which you’ll enter the NEO market. On eToro, the minimum deposit is $50 (about £36).
- Step 4: Search for NEO – The next step involves clicking on the search box to find the NEO token. Once the broker displays ‘NEO,’ click on ‘Trade.’
- Step 5: Invest in NEO – At this stage, you’ll need to decide on the amount you’re investing. After that, you’ll enter your stake into the amount box and then open your NEO investment.
Once you’ve completed these steps, you have invested in NEO in the UK. Notably, you don’t have to withdraw your tokens to an external wallet. This is because eToro offers you a private storage facility that you can utilize to store your coins.
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
Ways to Buy NEO in the UK – Full Broker Reviews
NEO is an open-source platform that has garnered some traction in the cryptocurrency industry. As such, you can expect to find the token listed by a number of investment platforms. However, since not all these platforms will offer you a great service, we have examined the market for the top options.
In this part of our How to Invest in NEO in the UK Guide, we discuss the top 3 brokers for this purpose. These platforms have been assessed on key metrics such as fee structure, credibility, ease of use, and more.
1. eToro – Overall Best Broker to Invest in NEO in the UK
With a global reputation across many regions, eToro is the best broker to invest in NEO in the UK. Our assessment of the broker starts with the credibility of the platform itself. In this regard, eToro scores very high — as the broker is regulated by several financial bodies including the FCA and the SEC. Meaning, the broker has an established range of operations that guide the platform’s operations and promotes complete transparency to protect users.
Additionally, the broker is suitable for beginners looking to invest in NEO in the UK for the first time. With an interface designed that prompts on-screen instructions, you can start and complete the NEO investment process in no time. After creating an account, you simply have to verify your identity and make a deposit that meets the minimum requirement. Then, you can proceed to invest in NEO for as little as $25 or about £18.
Another impressive feature of eToro is that you can purchase dozens of tokens. This is notable because investors tend to expand their portfolios by adding some other tokens to mitigate the risk. On eToro, there are 30+ cryptocurrency tokens that you can add to your portfolio including Litecoin, Chainlink, Tezos, Zcash, Ethereum, and more. Once again, you can invest in all of these markets from just $25.
Furthermore, eToro provides you with different payment methods. You can choose to add funds through your debit/credit card or an e-wallet such as Skrill and Paypal. You can also complete transactions through a bank wire. For all these payment methods, the minimum deposit requirement is $50 – or about £36. Also, after you purchase your tokens, you have access to the broker’s secure storage facility. This ensures that you do not need to download a private wallet – which can be confusing for newbies.
Finally, eToro provides different tools that can be utilized to invest in NEO in an easy manner. First, the broker has a copy trading tool that you can use to replicate the open positions of an advanced investor. This is an option to invest passively, and this tool is used by millions of people on the eToro platform. Additionally, you can utilize the broker’s research section to learn more about the NEO project.
Pros
- Invest in cryptocurrencies on a spread-only basis
- Minimum investment per trade from just $25
- Supports debit/credit cards, online banking, and local bank transfers
- Regulated by the FCA, SEC, CySEC, and ASIC
- 20 million+ clients
- Highly suitable for newbies
- Features a copy trading tool and a social platform
Cons
- Advanced traders might consider the platform too basic
- No support for MT4 or MT5
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
2. OKEx – Invest in NEO in the UK Through a Low-cost Broker
When you’re utilizing OKEx for investing in stocks, prepare to complete a crypto-to-crypto exchange. This is because the platform doesn’t allow you to gain access to the token directly. This means that you’ll first have to purchase a token such as the USDT and then exchange your coin for NEO. Therefore, OKEx is highly suitable if you already have some tokens in an external wallet. In that case, you’ll only have to transfer the tokens over to OKEx and proceed to complete the investment.
For that option, you won’t have to provide the platform with any personal details since you’re not purchasing the token directly with ‘fiat’ currency. Instead, you’re making a crypto deposit, which allows you to bypass that step. Essentially, all you have to do is to create an account and initiate the transfer process from your external wallet. Investors who enjoy some level of anonymity while trading will find this appealing. Furthermore, OKEx also stands out in terms of its fee structure — as the platform only charges a 0.10% commission per slide.
Additionally, the platform offers more than 400 cryptocurrency pairs, offering you a wide range of options to choose from if you want to diversify your NEO investment. Furthermore, after completing your NEO investment, you can elect to store the tokens on the platform and earn from the OKEx savings account. This way, you can earn returns on your investment when the value of NEO increases and you also enjoy the interest on your holdings accordingly.
Pros
- Credible digital tokens exchange with 20 million+ clients
- 400+ digital token pairs
- Supported payment methods include debit/credit card and bank wire
- Low commissions that start from 0.1%
- Fully-fledged mobile app on Android and iOS
- Great reputation and super secure
Cons
- Debit/credit card fees could be more competitive
- Derivative products are too complex for beginners
at eToro, #1 Broker in the UK
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
3. Binance – Crypto Exchange to Invest in NEO in the UK Alongside 100+ Assets
The third platform on our list of options to invest in NEO in the UK is Binance. This platform grants you access to over 100 cryptocurrency tokens that you can add to your portfolio. However, to invest in NEO using Binance, you’ll have to go through a similar process to OKEx. Meaning, you’ll first have to buy another asset such as USDT and then exchange the coin for NEO.
Notably, however, the trading commission charged by Binance is 0.10% per slide. Therefore, suppose your transaction amount is £50 – you’ll incur a commission of just 50p. This is considerably low in comparison to the 1.49% trading commission charged by brokers such as Coinbase. Nonetheless, you should note that debit/credit card transactions on Binance will cost you 1.8% in fees as a UK investor.
Furthermore, Binance is distinguished in the cryptocurrency marketplace for the platform’s reputation. The crypto exchange UK has grown to become the largest investment platform in terms of trading volume. Additionally, you can also utilize the platform’s crypto savings account to make some earnings on your NEO holdings. Alternatively, after purchasing your NEO tokens, you can elect to move them to an external storage facility endorsed by the Binance – Trust Wallet.
Pros
- Facilitates billions of dollars in daily trading volume
- Supports hundreds of digital asset pairs
- Near-instant deposits via debit/credit card
- Trading commission starts at just 0.1% per slide
- Offers crypto savings accounts
- Suitable for both pro traders and beginners
Cons
- Debit/credit card payments do not apply to all supported markets
- Doesn’t support e-wallets for deposits and withdrawals
at eToro, #1 Broker in the UK
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
How to Invest in NEO in the UK – Detailed & Explained in Full
Although we’ve already outlined the steps involved in the NEO investment process, our explanation was brief and might be insufficient for beginners. Therefore, we have explained further below, to ensure you have a more in-depth understanding of how to invest in NEO online.
Do note that eToro is the best option in terms of brokers to invest in NEO – not least because the platform is regulated by the FCA and four other financial bodies. Plus, the minimum investment amount is just $25.
Step 1: Open an Account on eToro
As with any other platform, you must start your investment process on eToro by opening an account. This can be completed on the broker’s website – where you’ll click on ‘Join Now’ and provide all necessary login details.
The image above contains some of the basic details you’ll be required to provide. You’ll also need to answer some questions about your experience as an investor.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Step 2: Provide ID
You’ll need to provide some documents to verify your identity when using a regulated broker like eToro. This is because platforms of this nature are required by law to comply with KYC regulations.
For the completion of this step, you can upload your passport or driver’s license for identity validation and a bank statement/utility bill for verifying your home address.
Step 3: Add Funds
eToro has a fee policy that requires you to deposit a minimum of $50 (about £36) before you can invest in NEO.
You can complete this transaction with your debit/credit card or any supported e-wallet. You can also elect to use a wire transfer if you find that more suitable.
Step 4: Search for NEO
Find the search tab at the top of the eToro website and enter ‘NEO.’ After that, the broker will display the available options.
Then click ‘Trade’ on the NEO option to move to the final step of the investment process.
Step 5: Invest in NEO UK
The last step will be executed on the broker’s order page. Here, all you have to do is to enter the amount you want to invest in NEO.
The broker provides you with the amount box for this purpose and you can adjust it to reflect the investment stake that you desire. After entering the investment amount, open the NEO trade and the broker will purchase the tokens on your behalf.
Invest in NEO – Best Ways to Invest in NEO in the UK
So far in this guide, we have discussed how to invest in NEO in the UK and the selection of brokers you can utilize. The next aspect to cover involves the different ways to invest in NEO. Essentially, you can either choose to use a cryptocurrency exchange or a broker.
Let’s take an in-depth look at the two options that you have at your disposal.
Online Cryptocurrency Broker
When you use a cryptocurrency broker, the platform executes purchases on your behalf. Meaning, you don’t have to go through different market participants to invest in NEO. Instead, you purchase the token directly from the broker. This is a convenient option for beginners in the cryptocurrency industry.
- Here, eToro is your best option to invest in NEO — as the broker holds an FCA license, indicating its credibility.
- You can use your debit/credit card on this platform too, making it swift and easy to invest in NEO.
- With such credibility and convenience, this broker allows you to invest in NEO in the UK without worrying about the safety of your funds.
Another benefit of choosing a regulated broker is that you can view its fee policy with ease. This way, you can make accurate estimations of the cost you’ll incur on your NEO investment and crucially – ensure there are no hidden fees.
Cryptocurrency Exchange
Cryptocurrency exchanges also allow you to invest in NEO in the UK. You’ll find hundreds of these platforms in the cryptocurrency industry – so you have plenty of choices. Typically, some of the features that make these exchanges appealing is their low-fee structure and the listing of a wide range of tokens.
Notably, however, most of these platforms operate based on crypto-to-crypto trades. Meaning, if you want to invest in NEO in the UK, you’ll first have to purchase another digital asset that you’ll swap for the token. For a beginner, this might appear stressful and challenging.
Another drawback with these platforms is that they are often unregulated – meaning you won’t have the backing of reputable bodies such as the FCA. The absence of regulation makes it riskier to invest via these platforms, as there’s no assurance concerning the security of funds.
Is NEO a Good Investment?
It’s only right to be curious as to whether NEO is a good investment. After all, the goal of every investor is to make a profit. However, to answer this question, you’ll need to research the project.
Although some investors choose to follow online predictions in this regard, this step is not the best course of action. This is because speculations are not based on verifiable data. With this in mind, this section will consider the NEO project and what it’s all about.
What is NEO and What Purpose Does it Serve?
According to the NEO team, the project is designed to usher in a new generation of the internet. This will be an ecosystem where assets, identities, and payments are all integrated.
- The project seeks to support a community of developers that will build the infrastructure for a new network.
- The team working on the project leverages an EcoBoost initiative that supports many people to create DApps.
- The project has been called the Chinese model of Ethereum.
It’s also worthy of note that the team behind the project continues to update the network to ensure the protocol meets new demands and stays relevant. These are key features to understand when looking to know about this project.
Should I Invest in NEO?
As a cryptocurrency token, you’ll want to know whether NEO is worthy of investment. There are many reasons why investors ask this question.
- First, the market is volatile and it’s crucial to understand the performance of NEO in the cryptocurrency space.
- Secondly, there are numerous cryptocurrency projects without practical use problems that might impact the token’s value in the market.
Therefore, a smart investor will want to understand all these important aspects of the NEO project before putting money behind the token. We shall consider some features you might want to look at when evaluating this project. Nonetheless, the most important step to take here is to do your own research.
Enjoys Regulatory Support
Many investors consider whether or not a token can be adversely impacted by policies made by regulators. This is owing to the level of power regulators have in terms of policies that can affect the financial markets. However, NEO appears to stand out in this regard, as the team behind the project designed its network to be regulator-friendly.
Essentially, the protocol enjoys regulatory support from reputable financial bodies in China. Additionally, the network will verify the identity of all users before allowing them to utilize the protocol. For this purpose, the network leverages its ‘digital identity’ feature. This is another tool that places the protocol in the good books of China-based regulators.
Dubbed ‘Ethereum Killer’
Often, cryptocurrency projects are sustained based on the belief investors have in the network. Concerning NEO, many investors are of the opinion that the network will someday overtake Ethereum in the cryptocurrency marketplace.
- Meaning, NEO might become a large smart contract network that investors and developers will consider as the go-to platform.
- One of the key features that support this belief is the transaction speed of NEO.
- Ethereum operates at an average of 15 transactions per second (TPS). On the other hand, NEO executes an average of 10,000 TPS.
This is notable because such a feature will likely drive more traction to the NEO project.
Huge Increase in Value
When NEO launched in 2016, the token was priced at just $0.39 per token. If you had invested in the project then, you’d have enjoyed about a 50,000% increase at the token’s all-time high of $196 – which it achieved on 15th January 2018.
Nonetheless, the token trades at about $44 at the time of writing in early October, which is still a huge increase from the launch price.
Community Support
The network offers you GAS tokens when you invest in NEO. With GAS tokens, you gain access to many opportunities that you can leverage to increase your earnings. This feature has impacted the project’s community and driven more users to the network.
Additionally, holding the NEO token allows you to contribute to significant issues on the protocol. In most cases, investors consider this governance structure before deciding to put their money behind an asset. After all, you’ll want to be a part of the decision-making process of a protocol in which you’ve invested.
What are the Risks of Investing in NEO in the UK?
As a smart investor, it’s important to consider the risks associated with a project you want to put your money into. Therefore, when you’re looking to invest in the NEO project, you’ll need to evaluate the risks that come with buying the token.
- One notable challenge with the NEO project is that the aforementioned regulatory structure might also be the project’s undoing. These regulators can easily have an adverse impact on the project since the protocol is designed to comply with their demands.
- Therefore, investors might be wary of entering the NEO market owing to this feature.
- Additionally, while NEO is dubbed the Ethereum killer, this objective won’t just become a reality without the network doubling down on its effort. Ethereum still remains one of the largest cryptocurrency networks with a very large market capitalization.
- Furthermore, the price of NEO constantly fluctuates as a digital token. Meaning, you can enter the NEO market and the price will move negatively. You must be prepared for such cases and have a plan for an extreme scenario of a negative price movement.
- Finally, investing in NEO via a cryptocurrency exchange is highly risky. This is because most of these platforms do not offer security over your funds.
Nonetheless, with adequate research about the project, you’ll have sufficient information to formulate a plan for most of these risks. A notable strategy here is to diversify your portfolio to mitigate the risk that comes with NEO’s price fluctuations. You can also structure your NEO investment utilizing dollar-cost averaging, where you buy small amounts of the token regularly.
The Cost of Investing in NEO in the UK
Another important aspect to cover in this How to Invest in NEO in the UK Guide is the cost you might incur during this process. When you understand the cost of investing in NEO, you’ll be able to estimate your investment returns if the market moves positively.
Deposit Fees
Most investment platforms have a minimum deposit requirement. This means that you must add a certain amount of funds to your account before you can invest in NEO.
- At eToro, the minimum deposit is $50 (about £36). On the other hand, a broker like Capital.com requires that you add a minimum of £250 when you’re using a bank wire.
- When you make this deposit, you might be charged a fee. On eToro, this deposit fee is 0.5% for all payment methods. On the other hand, a platform such as Binance will charge you 1.8% in fees for investing in a token via debit/credit cards.
Therefore, you must contemplate this fee policy before choosing a broker.
Instant Buy
A broker might allow you to invest in a token through an ‘Instant Buy’ feature. This means that you can use your debit/credit card to buy the token swiftly. However, different brokers charge varying fees for this service. While Coinmama will charge a 5% fee here, eToro charges significantly less.
Commissions
A platform might charge a fixed commission on all trades. On the other hand, the purchase amount might determine the commissions an investor will incur. Irrespective, most investment platforms charge commissions for rendering their services to market participants.
- Notably, however, you will only pay the spread when you invest in NEO via eToro. This means you won’t pay variable commissions that might be charged on some other platforms.
- This is notable because you’ll pay a standard trading commission of 1.49% on a broker like Coinbase.
From this analysis, eToro stands out as a cost-effective platform for investing in NEO in the UK owing to the broker’s fee structure.
How to Invest in NEO in the UK – Conclusion
In this guide, we have shown you the steps you need to take to invest in NEO in the UK. We have also outlined and discussed the platforms you can use for this purpose. Among these options, eToro is the best broker to use when investing in NEO – as it’s duly licensed by the FCA and offers low-cost services.
FAQs
How to invest in NEO UK?
Best place to invest in NEO?
Should I buy NEO?
How can I safely invest in NEO?
How do I cash out my NEO investment?
