🎓 Trading Guide Andrew Strogoff

NEO Trading Guide For Beginners

Trading Guide
NEO trading guide, main features of the cryptocurrency, and why NEO attracts investors’ attention
NEO Trading Guide For Beginners

NEO is a ratherpopular cryptocurrency that attracts investors’ attention. This crypto entered the top 20 and stays there. Daily volumes are high as well as the liquidity. We are going to figure out the reasons for such popularity and cover them main aspects influencing NEO’s price in this guide.

The roots of NEO Blockchain

Nowadays, NEO is the first Chinese Blockchain with an open source code. It was launched in August 2017. However, the history of this project started earlier, three years ago in 2014.

Da Hongfei, founder of this Blockchain established the Onchain company AntShares. This project had its own crypto ANS, which is abbreviation from AntShares.  

The main task of Onchain was to create a totally new financial service, which would connect virtual and real economics. The main tools for this are smart contracts. ANS was initially designed to be payment mean for smart contracts.

Later, developers decided to rebrand their product and have written new technical docs, changed their website and conducted an ICO. According to the developers, NEO is able to beat Ethereum.

How does it work

The main goal of the company is to create an economic model (so-called Smart Economy) including three main features:

  1. Platform for smart contracts execution
  2. Digital assets
  3. Digital Identification

You can digitize your real estate documents and sell it using cryptocurrency without mediators. Developers underline that NEO allows to digitize and exchange different types of assets including gold, cars, houses etc. The only thing you need to do is to connect them with digital assets and to make an appropriate smart contract.

card

NEO main advantages and disadvantages

NEO offers the following advantages to all users:

  1. Special Virtual Machine. It allows businesses to create complex smart contracts. The network has high speed allowing to conduct 10,000 transactions per second. However, tested speed does not exceed 1,000 TPS. Anyway, this is far faster than within the Ripple network where the speed is 70 TPS or within Ethereum system with 30 TPS capacity.
  2. High security level. NEO uses dBFT protocol, which protects the system from the majority of cyberattacks.
  3. Smart contracts are easy to set up. NEO supports several programming languages including Java, C#, F#, VB.Net, Go, Python. Ethereum, for example, uses a very complex language Solidity.
  4. Commissions free service. Those who hold NEO on their wallets are given GAS (utility token to conduct transactions) for free.
  5. Mining free system. There is no traditional mining within NEO network as the system is based on Proof of Stake meaning no significant expenditures for ASICS or graphic cards are needed to earn NEO coins.

Have this system any issues? Are there any disadvantages of the project? Sure there are several. Find them below:

  1. ThebNEO community is disappointed with lack of anonymity. Developers think that there should be no anonymity and all the transactions should be transparent. Onchain has direct access to the transactions history. Developers control over 60 percent of all Blockchain nodes in the system.
  2. Lack of decentralization. The above mentioned 60 percent of all nodes controlled by NEO team means that the system is more centralized than decentralized. NEO plans to cooperate with Chinese government and this is the main reason why there will be no anonymity or decentralization.

How to mine NEO

Those who want to trade NEO, need to know that this coin has no mining procedure. We have already mentioned this above. The project use Proof of Stake consensus mechanism instead. The main feature of PoS is that it requires no computational power. Users need to run nodes instead.

card

The total emission of NEO is 100 mln units. It is already distributed among investors and developers team. There will be no new coins but “stakers” will have an opportunity to earn. There are GAS tokens inside of the system and those who stake NEO within their wallets will be given this inner utility token.

History of NEO price changes

The first significant price growth was fixed during rebranding after transfer from ANS to NEO. Currency reached seven USD and later went upwards again and reached $30-$40. Investors were interested in NEO as developers started to cooperate with Microsoft and develop a new operational Blockchain based system.

NEO’s capitalization reached $2 mln in August 2017 but one month later the Chinese government banned all ICOs and obliged the company to give the money back to investors. This money flow lead to price decline. NEO costed $7 per coin again.

Team worked on the project and managed to win back their previous positions. They have started cooperation with governmental bodies, listed NEO on Bitfinex and created the next generation NEO 2.0 platform, which may adopt for different services including banking payment systems.

GAS was listed at Poloniex on September 2017. This fact allowed NEO stakers to earn money on tokens that are automatically transferred to their wallets. The price of GAS was even higher than $50.

card

Factors affecting NEO price

One of the most important factors why several coins’ price grows is their inflation model. Limited emission will likely to create rise of demand in future. How does this work? In time, the number of businesses will increase and this will create additional demand on NEO. The price is likely to rise in this case.

However, there are many other things that may positively or negatively influence NEO’s price. They are the following:

  1. General situation in the industry. When Bitcoin goes upwards and the other cryptos follow it, we can say that the general market situation is positive.
  2. News and events. Positive news from NEO team as well as new partners are likely to increase coin’s price. However, bad news may lead to the controversial result and to press the currency down.
  3. Experts and community opinion. NEO benefited from many famous crypto industry experts in the past. Community criticize the team, but remains loyal to the coin as NEO has shown great result as compared to other projects.
  4. Decisions of different governments on cryptocurrencies and ICOs. The more countries will adopt them, the more the price of the coin will be.

The main differences between NEO and Ethereum

Those who want to start NEO trading need to know, that this crypto differs from Ethereum. There are several aspects including consensus mechanism that are worth attention. The first main aspect is protocol.

Ethereum uses Proof of Work protocol (the same consensus mechanism that is used in Bitcoin). NEO is based on Proof Stake. The main disadvantages of Proof of Work are known but we are going to refresh them again.

Experts say that Proof of Work systems “eat” to much electricity. This is true as mining rigs are huge nowadays and they consumer much energy. However, Ethereum is going to transfer to Proof of Stake in the nearest future.

Another difference between Ethereum and NEO is transaction speed. NEO works on Proof of Stake, which allow to conduct more transactions per second than within Ethereum network. NEO allows to conduct 10,000 TPS as we had already mentioned previously. However, in practice, NEO users do only 1,000 TPS as compared to Ethereum’s 15 TPS.

card

This huge difference is the main advantage of NEO over Ethereum. However, NEO is less decentralized as Ethereum is. In addition, Buterin and his team are working on improving the network and those plans are included into the roadmap already.

Another big difference is in forks and scalability. Ethereum allows to create forks while there is no such an opportunity in NEO. Onchain coin has its finality meaning the information that is written once will not be changed. This is a huge advantage for future users especially for big businesses and financial markets.

Reasons to invest in NEO

Why do traders and investors buy NEO? There are several reasons for this. They are the following:

  1. NEO offers innovative technologies, which allow to make this platform outdated.
  2. This project allows users to work with smart contracts, which are treated by many experts as future of blockchain technology.
  3. Among partners and investors, we can see famous companies including Alibaba, Microsoft, LegalChain, Wings. NEO is currently working on creation of NEST FOUND foundation, which is likely to attract even more investments in this project.
  4. Onchain make attempts to legalize cryptos and has all chances to become the official mean of payment in China. This is one of the hugest markets in the world.
  5. NEO increases its capitalization and holds its position in the top 20.

NEO trading and technical analysis

Most of time traders who prefer NEO investments and speculative games use technical analysis in order to predict coins’ price. Market participants often use the whole set of tools in order to find entry points.

The first thing to do when using technical analysis is to find closest levels in order to understand where the price is likely to stop and to reverse in the nearest future.

The next step is to find trends if there is one. You can use trend line or MA’s with different periods to do this. Finally, you can use other indicators or price action patterns in order to find entry points.

card

Brief guide on how to start NEO trading

Now it is time to sum up and to give the latest recommendations before you are going to start NEO trading. There are several steps to do before placing your first order. Here they are:

  1. Find an exchange where you can trade NEO. Nowadays, there are several trading places where you can buy and sell the coin. You can choose between Binance, Cryptopia, Bitfinex, HitBTC, Livecoin, KuCoin, Bittrex. Before you make your final decision, pay attention at the liquidity, the security level and the fees that you will have pay when depositing or withdrawing money as well as when trading. Those figures may differ significantly.
  2. The second step is to take a decision. You can analyze news, pay attention to technical factors and use all your tools in order to find entry points.
  3. Risk and money management. Every professional trader has its own money and risk management strategy. Plan your trades in advance, protect your risks and calculate your profits.
  4. Choose order type. There are several orders that one can use nowadays. The easiest one is the market order, which allows you to open trades at the current market price. However, in many cases it is better to use limit orders, for example, in order to trade with better price.

card

🎓 Trading Guide
views
Coins Guide George Shnurenko

How to Store Stellar Lumens (XLM) Offline (on USB)

🎓 Coins Guide
The most trustworthy are Stellar Lumen Wallets
How to Store Stellar Lumens (XLM) Offline (on USB)

There is no problem with storing lumens. Perhaps the owners of this digital currency should become aware of the safety – that is a concern. We can suggest that the easiest way to save your lumens is to store them on the exchange. You can do it, but this place is not the safest one. We’d rather say that when you store your digital money on the exchange, you take risks because you leave your money in the trust of its administration, which is not interested in your prosperity as you understand or we’d rather say that it cannot guard your property against thieves and hackers completely.

There is another reason to be aware. Remember that the current cost of lumens can be not very tempting, but they might be worth hundreds of dollars tomorrow as far as the Stellar is developing and attracts more investors increasing the value of its tokens. So, you should think over the way to store your lumens safely and that means that only you must know the private key allowing access to your account and as you understand this is not possible on the exchange.

Our recommendation: you should choose the appropriate and reliable wallet where you can store the cryptocurrency and create at least one backup of your private key and keep them separately. The case may be when you lose your laptop where there is the key and, if you lose the key, you say goodbye to your digital money holdings. We’d like to give one more recommendation: do not tell anybody of your wallet with lumens. The fewer people know about them, the more chances you have to save them. And on the contrary: the more you speak about your storage, the bigger chance of them being stolen.

💼 Related Article
Where to Spend Your Crypto Earnings in 2018
🔥 Hot
6 months 4 weeks
256
Where to Spend Your Crypto Earnings in 2018

The Best Wallets

Of course, the most trustworthy are Stellar Lumen Wallets. There are personal digital storages for any cryptocurrency as you know and lumens are of no exception. They can be kept in personal wallets created within the system itself. There are lots of them intended for desktop, mobile devices and web resources.

If you choose the Lumen Desktop Wallet, you will store your funds on your own computer. These wallets are created for various operating systems like Mac (Stellar Desktop Client, Stargazer), PC (Stellar Desktop Client, Ledger, Stargazer, and Stellar Portal), and Linux (Stargazer, Stellar Desktop Client, and Stellar Portal).

When you prefer to have the lumens always about you, you can store them on Lumen mobile wallet – a perfect solution for those, who are continuously moving. It is easy to have access to lumens just using your smartphone both operating within Android (Stargazer, Lobstr, and Centaurus) and iOS – that is Lobstr only.

And at last the Lumen Online Wallet, which, being online personal one, is not such reliable compared to mobile or desktop due to the high chances to be hacked. You can draw from a rather large pool: Ledger, eBitGo, Stronghold, BlackWallet, StellarTerm, Lobstr, LuPoEx, SAZA, Stellar Portal, Stellarpay, Papaya, and Luuun.

As you see the choice is rich and it is reasonable to find out the details of each wallet before to make a decision. As to prevent your confusion, we offer the brief description of five wallets mentioned above, which are the most popular ones at the current moment.

To summarize we should say that the Stellar Lumens is another blockchain project being an open-sourced, distributed payments system, which tries to make a worldwide financial network available to everyone. It unites the individual investors, traders, financial organizations, and payment systems via its platform where they can make reliable, cheap and quick monetary transactions. You can compare it to PayPal or a bank.

Converting currencies for a transfer, the system uses the lowest exchange rate. In order to benefit from the offer of the Stellar Lumens, you are suggested the built-in cryptocurrency called Lumens. As far as the platform is launched as a fork of Ripple project, its coins are often confused with Ripple, but they are different.

The experts say that Lumens have high potential. Now this is one of the strongest altcoins at the crypto market being in rather aggressive competition with Ethereum. We should underline that it lives on IBM blockchain applied as a bridge asset. It took off from there! The current collaboration of the platform with banks makes the Stellar to be employed for issuing fiat-supported cryptocurrencies with high probability. We should not rush things but there are public talks concerning such perspective. Indeed there is a large supply of these digital coins.

 

Coins Guide
views
Coins Guide George Shnurenko

What is Litecoin (LTC) - Simple Explanation for Beginners

🎓 Coins Guide
This well-known cryptopcurrency with the acronym LTC has become one of the most popular digital coins based on peer-to-peer system.
What is Litecoin (LTC) - Simple Explanation for Beginners

This well-known cryptopcurrency with the acronym LTC has become one of the most popular digital coins based on peer-to-peer system. Entirely decentralized open-source network under MIT/X11 license allows everyone easy mining and coins transfer. The cryptocurrency was inspired by Bitcoin and created in order to improve BTC’s shortcomings. It has no central authority and, being BTC fork, features 4 times faster block generation rate - 2.5 minutes against BTC’s 4 minutes: “lite-” the name talks!

Litecoin Main Features

Litecoin Features

But not only higher speed makes difference between Litecoin and Bitcoin. When mining LTC the adaptive cryptographic key generation function (scrypt) for primary hashing applies. For Bitcoin it is SHA-256, and Litecoin uses the special proof-to-work algorithm competitive to Bitcoin.

Litecoin’s proof-to-work scheme is based on scrypt adds algorithms that work more intensively with memory, new energy efficient graphics processors have been able to enforce the hashing of the network. A transparent process facilitates independent verification of binary files and their corresponding source code.

The operation is fully confirmed only after 6 blocks since confirming after one block mining the network can be vulnerable. Due to this delay, intruders are out of topic: the network would require accumulating at least 10% of the network processing capacity. In 2009 Colin Percival of Tarsnap Inc. developed this scrypt that shows the contrast with Bitcoin’s SHA-256d. Inhibiting the hardware scalability LTC calculation requires a plenty of memory.

{"preview_thumbnail":"/sites/default/files/styles/video_embed_wysiwyg_preview/public/video_thumbnails/q7B7S88RtV8.jpg?itok=fwUX-W_K","video_url":"https://www.youtube.com/watch?v=q7B7S88RtV8","settings":{"responsive":1,"width":"854","height":"480","autoplay":0},"settings_summary":["Embedded Video (Responsive)."]}

The hardware that could be adopted for any purpose turns to be not reasonable to “collaborate” with Litecoin. The need to develop ASICs is completely eliminated due to scrypt use. Litecoin follows the policy of decentralization in mining. A decentralized currency still remains so valuable and resilient! The 2.5 minute creation of a new block is one more important feature. It is 4 times faster than the BTC transaction confirming (when waiting for a couple of hours is often recommended as reasonable security measure). LTC users can enjoy faster access to their earnings especially when they suffer with the lack of time.

💼 Related Article
Different Types of Cryptocurrencies, Explained
🔥 Hot
7 months 1 week
256
Different Types of Cryptocurrencies,  Explained

Other parameters of Bitcoin are the same in Litecoin. We mean the number of years between block reward halving events. The number of blocks between difficulty changes is the same too. As for summer 2017, Litecoin miners are currently being awarded with 25 new Litecoins per block. This amount would be halved approximately every 4 years (or every 840,000 blocks). The total emission is expected to be 84 million coins - 4 times more than Bitcoin units of currency.

Coins Guide
views
Crypto Gags Heewon Jang

Blockchain Helps Queen To Save Her Pennies ????????????

Crypto Gags
God Save The Blockchain
Blockchain Helps Queen To Save Her Pennies ????????????

Check out the related article

Share it with your friends and don't forget to subscribe!

Сheck daily our Instagram: cryptosharq,

Twitter: CryptoComes

Telegram: @cryptocomes

Crypto Gags
views
📈 Pricewise Daniel Osten

Cryptocurrency Market Stays Green Promising Further Growth

Pricewise
No bad news today: market stays green, Ripple is dominating in the race toward global recovery.
Cryptocurrency Market Stays Green Promising Further Growth

The end of last week was marked by several successes in the cryptocurrency market. First of all, Bitcoin buyers were able to keep the price above $8,200 (the importance of which we addressed in the previous review) and second, the price of digital assets has been showing a better tendency than that of the global stock indices. On Saturday and Sunday we observed healthy volatility, when some coins were appreciating faster than others, reacting to positive news. In general, the media cycle is becoming more encouraging: the Arizona Senate proposed a bill on the use of cryptocurrency in tax payments and JP Morgan (previously opposed to Bitcoin) suddenly admitted that digital assets are likely to stick around for a while. At the same time, expert opinions about the "the bursting of the bubble" are heard less often, which confirms our conclusions about the end of the correction.

By Monday, the total capitalization of the market continued to increase and reached $415 bln, but the dominance of Bitcoin decreased to 34.3 percent, which indicates the flow of funds from the main asset to altcoins. The best results in the top 10 were shown by NEO and Ripple, with an intraday price increase of 10 percent. While NEO has been going sideways in the last few days, XRP became the absolute record holder for gains. Just on Friday, Feb. 9 its price was $0.76 and today, it’s trading at $1, having reached up to $1.23 over the weekend. A significant role in Ripple’s success was played by the news of its agreement with foreign exchange giant UAE Exchange. Although, it is not yet clear whether the agreement implies the actual use of XRP tokens, or once again everything will be limited to xCurrent software.

BTC/USD

Over the weekend, Bitcoin price reached a maximum of $9,000, later descending to refuel at $7,800. We do not regard this decline as a threat to further growth because without drops there can be no new heights. The main limiting factor is still the upper boundary of the long-term descending channel, marked on the graph in red.

01_11.02

At the same time, we are again observing the "inverse head and shoulders" figure, the exit from which coincides with the boundary of the channel. We expect that in case of activation, the figure will work out only at half-size, which happens quite often in active struggles between bulls and bears. The target growth zone is at the $10,000 level, coinciding with the 1.618 Fibonacci extension and the strong resistance. As before, Bitcoin price is supported from below by the curve marked in green.

XRP/USD

After showing an impressive 50 percent growth on Friday and Saturday, Ripple went to local correction and fell to the $0.9 level, formed by the mirror support-resistance, as well as the 0.382 value of the Fibonacci grid. We expect further growth from the cryptocurrency because the main resistance levels in the form of descending channels (with upper boundaries marked in red on the graph) have been overcome. The target value is the range $1.3-$1.35 (green area on the graph).

02_12.02

At the time of writing, XRP is trading near the $1 mark, which coincides with fair price for the period since Jan. 17. In the case of a negative scenario, a decrease to $0.9 is possible, where the channel boundary will be retested.

ETH/USD

During the global correction, ETH price dropped to $570, but over the following days, it showed an increase of 60 percent to $900 confirming high investor interest in this asset. It may seem at the time that many of the top 10 coins are outrunning it in gains, but we know from experience that for Ethereum slow and steady wins the race.

03_12.02

From the beginning of the year, the maximum volume of ETH was traded in the $970-$980 range, which is a fair price. This same value is also indicated by the 1.618 of Fibonacci extension and a strong mirror level of support-resistance. At the bottom, the price is protected by the $785 level. However, even in case of a decline, we do not expect the price to stay there for long.

📈 Pricewise
views
George Shnurenko

Cryptocontrol.io News Aggregator Review

News aggregators are useful tools for anyone interested in the crypto markets to keep an eye on the comings and going and Cryptocontrol is another useful tool
Cryptocontrol.io News Aggregator Review

Cryptocontrol.io is a news aggregator that presents the latest cryptocurrency-related posts and press releases and provides users with ample information about virtual coins. The platform would be interesting for traders, investors, analysts and advisors, i.e. everyone who needs up-to-date information about Blockchain, virtual coins and the world of crypto.

What is Cryptocontrol.io?

The website primarily functions as a news aggregator– it displays the latest publications from a wide range of popular news portals, including cryptcomes.com, coininsider.com, coingape.com, cointelegraph.com, and many other authoritative sources. With the help of this website, you can track the news from tens of different portals, including social media, online magazines, and mainstream blogs. To top it off, Cryptocontrol.io displays the information about the cryptocoin value and allows you to check the latest posts about particular coins from different sources.

The homepage of CryptoControl.io website
The homepage of CryptoControl.io website

What Cryptocontrol has to offer?

Cryptocontrol offers a few basic tools, with news aggregating panel serving as the central point. On the main page, you can see the news feed comprised of various posts. By default, they’re shown in the chronological order. You can also filter the news by the source and type:

In Heatmap section, the most popular crypto-related news is shown. The color of background denotes the theme– the darker it is, the older the article and the size of the block depends on the popularity of the post. This website option is one of its main distinguishing features– a puzzle of news blocks looks unique. However, it’s not the most convenient design from the readability standpoint: with so many different moving blocks and different sizes of fonts, it’s hard to focus on something particular.

Heatmap – the most popular posts combined together
Heatmap – the most popular posts combined together

Additionally, Cryptocontrol has iOS and Android applications, which means 50-60 percent of users preferring mobile search will enjoy a fast and simple access to their favorite platform. That’s the way to go!

Navigation and customization

How to sort out the news? As other similar platforms, Cryptocontrol offers a few personalization options. Let’s observe them:

  1. You can select favorite coins by clicking on the starts on the homepage header.

  2. Follow social news connected with your favorite coins.

  3. The heatmap can be customized, as well– you can select and deselect the themes of posts shown.

  4. Crypto News APIs can be integrated to receive fresh news.

  5. Crypto-related news can be sent to user’s inbox.

  6. Using the search field, you can find some certain coin and coin-related news.

  7. Users can also have the news sent on their preferable messaging applications by the CryptoControl bots.

Therefore, you can select the preferable way of receiving the news. Additionally, CryptoControl has a well-established community in social networks – it embraces Telegram, Twitter, Facebook and Medium. You can subscribe and be among the first to track hot crypto news.

Should I use CryptoControl?

Minimalistic design and simplicity of use make CryptoControl.io a suitable platform for both professional and amateur users. It serves the main purpose – offering a lot of news from various reliable sources. However, its functionality can be extended for more satisfying user experience. For instance, more personalization options can be introduced (portfolios, forecasts for favorite coins, favorite filters). Besides, CryptoControl should consider introducing a Knowledge Base with information about virtual coins, which may attract a flow of new users.

If you simply want fast access to the world’s most recent cryptocurrency-related news, CryptoControl is a perfect choice. It’s not cluttered with widgets and advertisements, and navigation is intuitive– you’ll know what is what from the first seconds.

views
👓 Recommended articles