NEO and the benefits of holding it. GAS!
We all know that NEO is a Peer to Peer CryptoCurrency. NEO was formally known as ANTSHARES.
During the phase of being called "ANS", the value of the token fluctuated around $4 to $9. But as soon as the name changed from "ANS" to "NEO", the prices soared up to $51.
What NEO Is.
NEO is a Chinese Crypto Currency and unlike most of the cryptos, NEO functions the same. It's a peer to peer decentralised crypto currency. It allows smart Contract creation similar to Ethereum safely.
NEO has a current supply of 100,000,000 NEO with Market Cap of $1,135,775,00 ($1.1 Billion). The volume trade of NEO shows the popularity of the token. In the last 24 hours, the Volume traded was $54,447,500.
NEO was 6th in terms of Highest volume traded after QTUM with 2.71%. (Data As Per CoinMarketCap)
It has been trading in Bittrex the Maximum with BTC trading Pair.
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CoinMarketCap
Change In Name Effect.
After "ANS" changed to "NEO", the value started rising. This was also a part of branding. As "NEO" sounds better than "ANS". The concept of ReBranding was well picked up by the team and the effects were soon out. Think about it. When it was just ANS, the value only hovered around $4 to $9 and rarely it spiked up to $9-$10. But after the reform, it spiked up to $51.
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NEO And the GAS.
Gas was a kind of dividend paid out to the NEO holders. Gas is used as fees for the transaction for NEO and ETH. The holders of NEO got a certain amount of gas only for holding the NEO. GAS is an asset paring with NEO.
So if you were to hold 1000 NEO, you'd earn 0.3411 GAS per day. That makes 2.3880 GAS per week, 10.6 GAS per month and 124.5 GAS per year. Accumulating to 6.22% of the dividend. Current price of GAS is $10.69. So in a year, you would earn $1,295.9 in a year for holding 1000 NEO. Higher the holding, the better it get. GAS also has a limited supply of 100,000,000 GAS and the current circulating supply of 8,335,784 GAS. Till day, there are 10,800,672 GAS created. And it's market cap is $88,706,630.
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Chinese Ban Effect on NEO:
Even though the ban had some effect on neo 2 days back where the value went down to $17 from $33. After some days the value started rising and thus it's current value is $22. Considering the benefits the NEO holders receive, it get's interesting to see if the ban would affect it. As far as today, the ban did affect it for a short time, but that was applicable to all the tokens in the market. NEO has a head over all the other tokens because of its dividend benefits.
Even if the ban becomes permanent, the fact that there are other buyers from out of China that will surely take them. After all the free money keeps coming for the more you hold.
As far as the crypto space in China is concerned, the government won't be able to keep this ban for permanent. The other factor could also be is that this was done to manipulate the market which did happen.
What ever the fact may be, holding NEO can be extremely profitable in the long run.
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Thanks mate... where is suppose to keep the NEO in order to earn gas
In neo wallet. You can download by visiting neo.org
Nice post very educational!
Well done; very nice quick and easy to understand description of NEO, how it works, and the investment opportunity.
Thank you...:)
Informative, Do you know If i hold neo on bittrex where is the gas deposited, they dont have a separate wallet adress..
It is in your neo only. You only have a claim gas
How do i claim it
Transfer all your neo to neos wallet. If you have in bittrex make sure you send them to the wallet. Now make sure you don't send any decimal number like 1.5 because anything above 1 or 2 with decimal will be lost. After you send your neo to the wallet you'll be able to claim them. There's a simple claim button there.
Bittrex seems to be holding your gas at the moment and will be keeping it as they claim they have no way to retroactively know how to distribute it. A user posted their support ticket saying that they are looking into supporting it in the future - Support Ticket. So if you hold NEO you should download a wallet like the NEON one so you can hold and claim your gas! Official NEO website
Thank you for helping.. 😘
Nice write up I missed the first movement when the name was change "ANS" to "NEO" I am not happy with myself on that because i saw the opportunity them. the Chinese Ban cannot be permanent and the team behind NEO is read to meet any standard by the china. this the the perfect time to invest again.
You can't stop something that was bound to happen.. Ban will never stop the crypto space.
I am also sure that NEO has excellent prospects!
It sure has.