How to start trading NEO with Capital.com?
To start investing in NEO with Capital.com, Open Capital.com CFD Account and log in to the Capital.com Official Website.
Then you need to make a deposit to your account before starting trading NEO.
On the Capital.com platform, you can trade NEO Contracts for Difference (CFD) anytime, anywhere.
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Why are we optimistic about NEO?
NEO was co-founded by Da Hongfei and Zhang Zhengwen in 2014, formerly known as AntShares. YI is a cryptocurrency and blockchain platform, aiming to create a scalable network of decentralized applications (dApps). NEO (Little Ant) tokens cannot be split, that is, it is impossible to buy or sell half of the tokens.
As a project to create dApps, NEO’s competitors include cryptocurrencies such as Ethereum (ETH) and grapefruit (EOS). The currency circle regards NEO as a public token, that is, a token with access rights to project services. NEO holders can access the decentralized development system.
According to the founder of NEO, the project aims to create a “smart economy” where digital assets, digital identities, and smart contracts coexist in the same blockchain network. Currently, NEO is one of the top 20 cryptocurrencies by market capitalization.
How to start trading NEO?
In the cryptocurrency market, you have two trading methods. The first is to buy directly on a cryptocurrency exchange. For example, if you buy NEO on the Bitfinex exchange, the transaction is the ownership of NEO. This type of transaction is regarded as a long-term investment, and is mostly used to hoard coins and wait for the price to skyrocket and then sell them for profit.
The second trading method is to choose NEO Contracts for Difference (CFD) and speculate on price changes. CFDs are financial instruments and are a type of contract signed by brokers and traders. Both parties to the contract agree to pay the other party the change in price on the expiry date of the contract based on the opening and closing price of a certain security. Traders can choose to open long positions (foreseeing price increases) or short positions (forecasting price drops). For example, you can choose NEO/USD trading pairs to speculate on NEO price trends. Because of the short duration of the difference plus contract, this trading method is regarded as a short-term investment.
So, what is the biggest difference between buying cryptocurrency and trading cryptocurrency CFDs? The purchased cryptocurrency will be stored in the wallet, and the CFD transaction is the position in the account, which is supervised by the financial regulator. Trading CFDs is not restricted by trading assets, and only one contract is bought/sold, so it has greater flexibility. Moreover, CFDs are mature and regulated financial products.
Now, all you need to do is choose a trustworthy CFD broker. In just three minutes, you can register for a Capital.com trading account for free and start your cryptocurrency CFD trading journey. Since its launch, Capital.com’s trading platform has won numerous awards and is the best trading assistant for CFD investors.
What is NEO? What is cryptocurrency?
NEO, formerly known as XiaoYi, is the basic cryptocurrency of the NEO network. NEO network is a decentralized application development system with the goal of creating a “smart economy”. Cryptocurrencies can be divided into the following two types: one is public tokens, which are used to obtain service usage rights for projects and security tokens or to replace the value of the underlying asset; the other is payment tokens, such as Bitcoin. Encrypted currency is a digital asset that serves as a medium of exchange. Encryption technology is used to ensure the security of transactions, control supply and guarantee transfers. In short, cryptocurrency is a decentralized electronic currency. All kinds of cryptocurrencies can be stored in “electronic wallets”. For example, you can deposit Litecoin in an online or offline e-wallet, or even store it in hardware.
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History of NEO
In 2014, the Chinese company Onchain launched the Antshares project and cryptocurrency. The goal is to create a platform that transfers all economic transactions to a virtual environment through smart contracts. In other words, any real asset can be bought and sold in the form of digital tokens. YI blockchain is very popular in China and other Asian regions, commonly known as “China Ethereum”. In 2017, Xiaoyi changed its name to NEO. In March 2018, Onchain distributed Ontology tokens (ONT) to NEO holders at a ratio of 5:1 as voting rights for NEO system upgrades, identity verification and other management matters.
What is a wallet? Why use a wallet to store coins?
Before buying NEO, you need a place to store it, this is the wallet. The wallet is composed of two elements: a private key and a public address. Only by entering the personal private key can you enter the wallet and access the NEO address stored in the wallet, which is the public key. The existence of the wallet guarantees the security of cryptocurrencies such as NEO.
Essentially, traders use the public key to transfer NEO, and only the private key can obtain the public key information. Some traders choose to store their tokens in the wallet provided by the cryptocurrency exchange, because the exchange’s application makes buying and selling and trading cryptocurrencies more convenient and faster.
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What are the risks of hoarding coins?
Cryptocurrency exchanges and electronic wallets cannot completely prevent online theft. The notorious Mt Gox Bitcoin exchange is the best proof.
Mt Gox used to be the world’s largest bitcoin exchange, but later lost all bitcoin due to a security breach and declared bankruptcy in 2014. The hacker stole a total of 850,000 bitcoins from the Mt Gox exchange, which is approximately US$450 million in February 2014 prices. It is believed that the exchange’s e-wallet private key was stolen as early as 2011.
However, NEO CFD transactions do not require an electronic wallet, which avoids the risk of private keys being stolen.
What happened to the collapse of the cryptocurrency market in 2018?
The 2018 crypto market collapse was the largest selling event in the history of the cryptocurrency market. From January 6th to February 6th, the price of Bitcoin dropped by about 65%, and then almost all cryptocurrencies collapsed. The market value of cryptocurrencies lost at least $342 billion in the first quarter of 2018. But earlier, Bitcoin broke through $20,000 in December 2017, and most other cryptocurrencies also peaked soon after.
So what caused the collapse of the cryptocurrency market?
First of all, South Korea’s Attorney General banned crypto exchanges from creating new trading accounts, which directly led to a 12% devaluation of Bitcoin. Soon after, the Japanese Bitcoin wallet and exchange Coincheck was hacked and about 500 million NEM tokens (worth $530 million) were stolen, making it the largest hacking attack in the cryptocurrency market at the time.
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Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...