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.
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.
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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.
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.
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.
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.
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.
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
Cons
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
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
Cons
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.
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
Cons
at eToro, #1 Broker in the UK
Cryptoassets are highly volatile unregulated investment products. Proceed at your own risk.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
As a cryptocurrency token, you’ll want to know whether NEO is worthy of investment. There are many reasons why investors ask this question.
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.
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.
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.
This is notable because such a feature will likely drive more traction to the NEO project.
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.
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.
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.
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.
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.
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.
Therefore, you must contemplate this fee policy before choosing a broker.
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.
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.
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.
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.