How to Open a Neo Wallet in 5 Minutes – Best Neo Wallets 2019

NEO is the 20th cryptocurrency by market capitalization and a popular investment choice for many crypto users. It has been in the market long enough to carve out its own niche in the smart contract platform market.

For anyone who is thinking of investing in NEO, one of the first things you might ask yourself is how to store your funds safely. Admittedly, there are numerous wallet solutions. But not each one is appropriate.

They offer varying levels of convenience, features, security and many other aspects that could impact your trading experience. In this guide, we will help you choose the best NEO wallet to suit your personal needs and preferences. Let’s get started.Quick Search Box

 Quick Guide: Create a NEO Wallet in 5 Minutes

  • Create an account at eToro
  • To choose a payment option, click “Deposit”
  • Make a deposit (recommended initial amount $250)
  • Wait for payment to process and then click “Overview”
  • Initiate an open trade by clicking the “Buy” button
  • On your mobile phone, download the eToro app
  • Download the eToro app for your mobile device
  • Sign in to your account
  • NEO will now appear in your “Portfolio”

Buy NEO

Find in This Article

  • What is an NEO Wallet?
  • The Wallets Comparison
  • The Best NEO Wallet
  • Best NEOWallet for Mobile
  • Best NEO Wallet in Your Country
  • Differences Between Exchange, Hardware, Software Wallets
  • FAQ

Compare For purposes of assisting you to choose the best NEO wallet for your needs and preferences, we have included a comparison section. The section assesses popular NEO wallets highlighting their strong points and weaknesses. If you want to learn more about how to buy NEO and other cryptocurrencies, check out this guide.     What is a NEO Wallet?

What is a NEO Wallet?

NEO is both the name of a blockchain platform and a cryptocurrency. It was initially known as Antshares after its launch by developers Da Hongfei and Erik Zhang in 2014. But in 2017 it rebranded to NEO.

Everyone who owns NEO uses a digital NEO wallet to keep track of it. Cryptocurrency wallets can be used to:

  • Send Cryptocurrencies
  • Receive Cryptocurrencies
  • Trade Cryptocurrencies
  • Spend Cryptocurrencies
  • Withdraw Cryptocurrencies

Each NEO and cryptocurrency uses blockchain technology to complete transactions. However, crypto wallets cannot:

  • Send NEO to any non-NEO crypto address
  • Share user information with 3rd parties (not recommended)
  • Withdraw or access bank funds (only Bitcoin ATM)

  Create a NEO Wallet      

Just like Ethereum, the platform is designed to run smart contracts, which are known as NeoContracts within its ecosystem. Unlike Ethereum though, it makes use of popular programming languages like C++, Python and Javascript.

The platform supports asset digitization, decentralized commerce and identification. Its overall objective is to create a foundational framework over which developers can build decentralized applications by executing their own smart contracts.

Another differentiating feature is the use of a consensus algorithm known as Delegated Byzantine Fault Tolerance (dBFT). This algorithm consumes less electrical energy and reduces the chances of a chain split.

If you are interested in making an investment in NEO, you need to buy NEO coin and store it appropriately. There are numerous NEO wallets in the market that offer storage and transactional facilities for NEO holders. Which one should you choose? Read on to find out.

Compare NEO and Crypto Wallets

4,9/5 Buy Now

4,9/5 Buy Now

4,5/5 Buy Now

4,2/5 Buy NowPayment Methods

  • PayPal
  • Credit/Debit Card
  • Wire Transfer
  • Neteller
  • Cash
  • Skrill

Payment Methods

  • PayPal
  • Credit/Debit Card
  • Wire Transfer
  • Neteller
  • Cash

Payment Methods

  • Credit/Debit Card
  • Bitcoin
  • Cash
  • PayPal
  • Wire Transfer
  • Skrill

Payment Methods

  • Credit/Debit Card
  • Wire Transfer
  • Bitcoin
  • Cash
  • PayPal
  • Neteller
  • Skrill

Minimum Deposit$250 USDMinimum Deposit$100 USDMinimum Deposit$1 USDMinimum Deposit$10 USD

Best NEO Wallet Providers

eToro

Create a NEO Wallet on eToro

eToro stands out in the sea of wallet service providers for a number of reasons. First, it is one of the oldest cryptocurrency platforms globally. It has been around since 2007, longer than the oldest digital currency, Bitcoin.

Originally, it was a financial trading platform, but when the crypto market came into existence, it expanded to offer crypto services as well. Though at the start it only offered crypto traders the opportunity to use CFDs for trading, it currently supports actual digital asset trading.

Another outstanding feature has to do with the fact that it is a regulated entity. A majority of cryptocurrency organizations steer clear of regulations, but eToro is different.

It is regulated in almost every market where it operates. For instance, in the UK, it is regulated by the FCA while in Australia it falls under ASIC and FinCEN in the US.

To buy your NEO coins on eToro and start trading or store them, here is what you need to do:

Step 1: Registration

Creating your new account on eToro is free.

Just go to the eToro website and select ”Sign Up”.

You will get a form requesting for personal information, fill it up and then submit to have your account set up in minutes.

Another option is to link the new account to Facebook or Google to automatically populate the details.

Step 2: Verification

As an internationally regulated service provider, eToro adheres to stringent AMC and KYL requirements.

Therefore, you will need to upload verification documents like your ID, driver’s license or passport for this step.

Though you can buy NEO without doing this, you cannot sell crypto on the platform without going through the process.

Step 3: Fund Your eToro Wallet and Buy NEO.

Fund your account using a credit card or bank transfer and then buy NEO within the eToro wallet.

Note that eToro also supports eWallet options such as PayPal, Skrill and Neteller. Choose the most appropriate means f payment and then make your initial investment.

It is advisable to start off with a small investment of about $250 as you learn how the platform works.

Step 4: Buying NEO

You can buy NEO or any other listed crypto as soon as your funds reflect.

To do so, type “NEO” into the search bar that appears on the top of the screen so as to view NEO/USD trading pairs.

Select “Buy” next to the NEO chart and then click “Open Trade.”

Step 5: Holding NEO

After buying NEO, you should download the eToro mobile wallet app for your phone. eToro can be used in different ways.

To do so, register your account and then get the wallet, and you will now be able to buy, sell, receive and store crypto.BinanceCoinbaseExodus WalletInfinito Wallet

Best NEO Wallets in Your Country

UKCanada & USAustralia

UK residents have a bevy of options when it comes to cryptocurrency wallets, but our top recommendation is eToro.

As mentioned at the onset, its main differentiating features include the fact that it has been around longer than most and that it is regulated.

During all its years of existence, eToro has never once been compromised, suggesting a robust security framework. Indeed, the platform uses among other things, a proprietary security algorithm to keep user funds secure.

Furthermore, since it is regulated by such authorities as FCA and MiFID in the UK and Europe as a whole, it adheres to strict security and operational requirements. This further enhances its safety.

Currently, it offers a wide range of trading options for all manner of users, new and experienced. Additionally, it has a good number of digital assets to choose from for your trading needs.

Differences Between Exchange, Hardware and Software Crypto Wallets

As you may have noticed, there are a number of different types of wallets, each one suited to different forms of use and storage options. Let us go through these different types to help you get the hang of it and make a safe choice for storing your NEO coins:

Exchange Wallets

Neo exhange wallets are cryptocurrency storage facilities accessible on crypto exchange platforms. They are meant for short-term storage, when one is trading or after the purchase of digital coins.

However, since they are hot wallets, always online, they are not safe for long-term storage. Always move your NEO from exchange wallets when not using them.

Here are our favorite NEO exchange wallets:

  • Binance Wallet
  • eToro Wallet
  • Coinbase Wallet

Hardware Wallets

Neo hardware wallets have made a name as the safest long-term storage options for cryptocurrencies. They resemble flash disk drives and store your private keys offline.

You may only need to connect them to an online device periodically to transact but they spend most of their existence offline.

To make sure you keep your NEO coins safe, always buy your hardware wallets from authorized distributors to avoid counterfeit products.

Here are some good examples of NEO hardware wallets:

  • Ledger Nano S
  • Trezor
  • KeepKey

Software Wallets

Neo software wallets come in the form of PC or mobile device apps that you download and install on the relevant device to store NEO.

Though they do not have to be online to function, anytime your phone or PC is online, your NEO wallet is vulnerable. But they are extremely convenient for frequent transactions as you only need to launch the app to access your wallet.

If you use NEO and other cryptocurrencies for everyday transactions, it is advisable to keep small amounts in software wallets. But most of your funds should remain in cold storage for long-term security.

Here are some good examples of NEO software wallets:

  • Infinito
  • Exodus
  • Jaxx

Best NEO Wallet on Mobile

AppleAndroidApple x Android

Best NEO Wallet Apple

For Apple device users, Infinito is a great choice of wallet. Not only does it offer support for a wide range of cryptos which you can trade against. But it also has a robust security system which includes touch ID.

It is also a convenient wallet to use as it can access contact information and save you the hassle of copying long crypto wallet addresses when transacting.

Another one of our favorites is eToro, which is one of the very few regulated wallets. It is thus one of the most secure. It also offers lots of trading options, making it highly versatile.

If you are just starting out in the cryptocurrency space, you might feel overwhelmed by the sheer number of crypto wallet options. But knowing what to look for in a wallet will make the last less intimidating.

For instance, frequent crypto users and traders will look for a convenient option that allows easy access to funds. But for “Hodlers” getting the ideal long-term storage solution would be a top priority.

In both cases however, you need to pick a wallet service provider with a reputable name. Conduct research on the history of any given wallet before placing your funds in storage. Platforms with a solid security background are your best bet.

Another important factor to consider is what other users have to say. Wallet services at times have hiccups, but what matters is how the team handles such situations. Read reviews on discussion forums like Reddit before settling on any wallet.

Finally, keep your password, recovery seed, PIN code and any other security feature out of harm’s way so as to protect funds at all times.

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