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How to buy NEO (NEO) in Australia
Learn how to buy NEO (NEO) on 20+ crypto exchanges in our step-by-step guide.
NEO (NEO) is the 78th largest cryptocurrency by market cap, valued at US$1,417,863,955.
NEO is a highly volatile asset capable of major price swings in a single day. Today NEO is trading for $20.19 USD, which is lower than yesterday's trading price of $20.72 USD. Over the past year, NEO's price has seen an increase of 77%.
So before you buy NEO, make sure you understand these unique risks as well as its legal and tax status here in Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy NEO.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy NEO in 5 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy NEO is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
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Buy NEO
You can now exchange your funds for NEO. On beginner-friendly exchanges, this is as simple as entering the AUD or NEO amount you want to purchase and clicking "buy".
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Secure your NEO
Consider transferring your NEO to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy NEO in Australia
Find an exchange to buy, sell and trade NEO by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this NEO guide up-to-date
- NEO price data is regularly updated through data feeds so you always have the latest information.
What is NEO?
Neo is a Chinese blockchain platform designed to provide a distributed network for the smart economy. Formerly known as Antshares and often referred to as China's Ethereum, Neo enables the development of digital assets and smart contracts.
The Neo platform has a wide range of use-cases, including the following:
Through the use of smart contracts, traditional assets can be turned into digital ones and securely stored on the blockchain. Neo will enable the creation of digital identities for individuals and organisations. These identities will only be accessible via multi-factor authentication. Neo supports the creation of smart contracts using a number of different code languages, including Java, C#, Kotlin and more. Neo will support the creation of decentralised applications, such as decentralised exchanges and legal smart contracts. The Neo ecosystem has 2 tokens, NEO and GAS.
NEO tokens are used to secure the network and validate transactions. GAS tokens are used to pay for transaction fees when sending/receiving money or deploying smart contracts on the network.
How do I find the best places to buy NEO?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy NEO?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading NEO.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing NEO with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy NEO?
Once you've created an account, you will need to deposit funds to buy NEO with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy NEO:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase NEO by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for NEO on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy NEO?
The easiest way to buy NEO is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying NEO, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of NEO has been performing recently.
Best NEO wallets to store your NEO
You can keep your NEO on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your NEO below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 9,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $179 |
Price (USD) $49.99 |
See more of the best crypto wallets
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is NEO a good investment?
Cryptocurrencies are complicated and highly speculative. Before purchasing or holding any crypto, it’s critical that you thoroughly research a coin or token and familiarise yourself with all the risks involved. Here are some things worth considering prior to buying NEO:
- Use-case. NEO tokens represent the right to manage the network. Management rights include voting for bookkeeping, NEO network parameter changes and a number of other tasks. It's important not to confuse GAS tokens with NEO, as GAS is used for an entirely different purpose within the blockchain.
- Proof-of-stake. Neo operates on a proof-of-stake consensus mechanism that allows users to generate GAS by staking their NEO tokens in a wallet. It might be worth considering whether you want to stake your NEO before buying, because if you do you will need to purchase GAS tokens too.
- Indivisible. Unlike many other cryptocurrencies, NEO is not divisible. In other words, the smallest unit of NEO will always be 1.
- Competition. As a blockchain intended for app development and smart contract deployment, Neo inherently has a large number of rivals. Ethereum is the most obvious competitor, however more and more blockchains are adding smart contract capability. Cardano and Polkadot are two such examples.
Today's NEO price versus ATH
Compare today's price of NEO ($20.19 USD) against its all-time-high price of $198.38 USD on 15 January 2018. The closer the bar is to 100%, the closer NEO is to reaching its ATH again.
NEO's price: $20.19 USD
ATH date: January 15, 2018
ATH date: January 15, 2018
10.18%
NEO ATH: $198.38 USD
How to trade, convert or sell NEO
You can convert or sell your NEO with the same exchange you bought it through:- Sign in to the exchange you have NEO on.
- If you store your NEO in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of NEO you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of NEO.
- Complete your transaction and move your NEO to a crypto wallet for storage.
How to buy other cryptos
Disclaimer: Cryptocurrencies, including NEO, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of NEO is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the NEO or any other cryptocurrency discussed.
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