Nowadays, there is an uncountable number of different cryptocurrency products available to pick from. Truth be told, as a result of this huge number, it is not easy to differentiate the ones that have massive potential from those that aren’t attractive.
Today, you have a chance to learn about one of the cryptocurrency projects that can be considered as the most interesting ones, and that is the NEO Coin.
And if you are new to NEO Coin, then you should not have any worries. You will find all the necessary information right here, including what NEO Coin is, how to use it for sports betting and where to purchase and store it. So keep reading to discover more.
Top NEO Sports Betting Platform
Although few bookmakers accept the NEO coin, the most important thing is that it can be wagered with the best companies:
What is NEO Coin?
Before you can discover the uses of NEO Coin and where you can obtain it, it’s important to understand the origin of this crypto product.
You need to know the basic standpoint of NEO Coin by looking into the crypto project inception point. NEO was initially established as AntShares. Its establishment dates back to 2014, and Da Hongfei and Erik Zhan were the two individuals behind this project.
In 2017, the company rebranded to NEO and has kept the title ever since. From the basic standpoint, NEO provides blockchain functionality that isn’t too different from that of Ether. The project primarily focuses on smart contracts.
As a blockchain-based platform that enables the growth of digital assets and supports its own cryptocurrency, NEO not only utilises smart contracts to create a distributed and network-based smart economy system.
In addition to the Neo Coin, the software that powers NEO operates other cryptocurrencies and decentralised apps, popularly known as dApps.
Also, users of the NEO blockchain have the ability to use the Gas Coin that allows them to complete transactions and pay the fees. NEO has some special features that make it unique.
We can say in this NEO cryptocurrency review that unlike many other long-term investment cryptocurrencies, this coin is part of the popular and larger NEO smart contracts ecosystem and decentralised apps.
The most important features that this cryptocurrency offers are data security, decentralised storage, and cross-chain interoperability, to mention just a few of them. Any other crypto product can run on the Neo network, thanks to its NEP-5 standard.
In many ways, NEO functions as Ethereum that also supports dApps and smart contracts in addition to its own currency. However, unlike Ethereum that requires Ether currency to pay all transaction fees, NEO needs a second coin, known as Gas, to pay the transaction fees.
NEO Coin Sports Betting
Many individuals refer to NEO as a Chinese Ethereum. However, this platform defines more ambitious goals than just being a perfect place for dApps. Should the developers’ plans come true, the universe will see a smart type of economy.
An increasing number of cryptocurrency online bookmakers is already taking advantage of the opportunity and offering lots of NeoGas sports betting markets.
This Gas NEO is truly a fuel for smart contracts and computations working within the NEO platform. So how can punters take advantage of NEO Coin crypto? There are some aspects that make it unique, and you’ll find them in the following section.
What Makes NEO Unique for Sports Betting
Since the NEO system works with advanced proof-of-stake algorithms, NEO coin mining isn’t possible. But if you have approximately 2000 NEO Coins, you’ll get one Gas daily free of charge.
The real flow capacity of NEO is roughly 1000 transactions a second, while its close NEO vs Ethereum competitor can only process 30 t/s.
In addition to that, NEO token is popular as it offers extra benefits that other crypto products provide since it is one of them. To enjoy all these benefits, you should be able to join one of the recommended sites.
The recommended sites are reliable, safe, fair, and offer everything that you need as a punter, ranging from quick deposits to instant withdrawals and mobile friendly sites to lots of markets to pick from. Also, sites that support NEO offer massive amounts of bonuses and promotions as well as plenty of VIP rewards.
Where to Buy NEO Coin and Store?
To buy NEO cryptocurrency is one of the easiest things that you can do on this earth. To get your coins, you only need to go through a few steps, which are:
- Create a NEO cryptocurrency wallet
- Find your NEO address
- Visit Binance or any other popular platform
- Deposit Ethereum or Bitcoin to your account
- Buy NEO crypto using Ethereum, Bitcoin or a credit card
- Find your NEO address and receive the coins
If you do not want to work with Binance, other options are HitBTC, Bittrex and Bitfinex.
When it comes to storage, there are two great options available for you; they include Ledger Nano X, one of the main leaders of the crypto wallet market and Binance, a great wallet that provides you with a safe online storage.
Once you have the coins in your wallet, transferring them to your sportsbook site account is not only easy but also straightforward.
What you just need to do is to create a sportsbook account, visit the cashier section, choose NEO as your preferred method of payment, enter the amount that you want to deposit and then confirm your transaction.
Your funds should be available in your account instantly or within seconds if there are some delays. You can use this crypto to place bets on all sports.
Conclusion
As you already know, there’re many betting sites that will allow you to place bets using different cryptocurrencies, including NEO.
While some of them are sportsbooks that have just started to accept crypto payments, others are wholly cryptocurrency sports betting websites that operate using NEO blockchain technology. The main pros of using Neo Coin to place bets are:
- Low or non-existent fees
- All transactions are fast
- Your information is as private as possible
As much as placing bets with NEO offers many benefits, there’re also some drawbacks which include:
- All transactions are irreversible
- NEO Coin is a lot more stable
- Lots of scam gambling websites are available out there
