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Popularly known as Ethereum of China, NEO is the first decentralized and open-sourced cryptocurrency based in China. NEO ICO was first launched in 2014 with the name of Antshares, and the name was changed in July 2017. The platform offers users with digital assets, smart contracts, digital identities as well as decentralized apps. More importantly, NEO users are assured of safe storage for their coins with a variety of NEO wallets. NEON wallet has readily grabbed the tag of the favorite NEO wallet.
One can consider, the NEO coin as a share in the company, representing part ownership of the NEO blockchain. GAS is a dividend which is paid to NEO coin holders and is used to run apps and execute contracts on the NEO platform. Every NEO coin owned will automatically generate GAS at a rate that can earn almost 7.5% in annual returns.
How to select a NEO Wallet?
Consider the following factors when choosing a NEO wallet-
Security & Backup: The wallet should have features like and seed keys and PIN codes.
Gas-Claiming Capability: Choose a wallet which automatically claims GAS. All cryptocurrency wallets do not claim the free GAS.
Private Control Keys: The wallet must have the facility for the owner to own and control the keys to the wallet.
Ease of use: The wallet should have an easy user interface.
Compatibility: The wallet must be compatible with your operating system.
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Best NEO Wallets
NEO coin can be stored in various types of wallets namely software wallets, hardware wallets, web-based wallets and paper wallets. A user has several options when it comes to choosing the best NEO wallet. All wallets listed below except the paper wallet have GAS-generating capability.
1.NEON Wallet
- Lightweight wallet and doesn’t add entire NEO blockchain to the computer.
- Distributes GAS tokens based on the amount of NEO held.
- Left side of the platform features an area for the owner to send funds, generate GAS and convert NEO on the account to GAS.
- Right side features the transaction history.
- Wallet operates on any desktop with Max, Windows or Linux operating system.
2.NEO GUI
- The official wallet created by NEO developers.
- The platform runs on a desktop.
- It is one of the slower applications and takes up a significant amount of hard drive space.
- Windows 7 and above operating systems can be used to download the wallet.
3.NEO Wallet
- A lightweight wallet maintained by the NEO community.
- Runs only on Chrome and Microsoft browser.
- It doesn’t connect to the NEO servers and interacts only with the developer ’s blockchain.
4.NEO CLI
- Designed specifically for users with a background in coding.
- Works only on desktops with a windows or Linux operating system.
5.NEO Tracker
- The cold storage stores the majority of funds
- It guarantees anonymity to the user.
- The private keys are in control of the user.
- It only works on Chrome and Microsoft Edge Browsers.
- It uses a Web browser to generate data and claim GAS.
6.NeoWallet
- It functions the same way as NEO wallet.
- OnChain along with NEO developers created NeoWallet.
7.Ledger Nano S
- Resembles a flash drive and connects into a desktop with a USB cable.
- Priced at 79.00 €.
- Syncs to other applications for authentication by the owner, and the owner must also input a four-digit code directly into it.
Note-It is necessary that users using the Ledger Nano S must have the 1.3.1 version installed to use NEO with the wallet properly.
8.O3
- It is a NEO wallet available on a smartphone.
- Users can track the NEO fall and drop throughout the day and value of their portfolio.
- O3 consist of a hot wallet and a cold wallet. The hot wallet consists of funds for daily transactions and cold wallet stores the majority of funds.
- The application can be downloaded from Google Play or Apple store.
- O3 has made its code open source, and it can be viewed on Github.
9.Binance
- It is a web wallet which provides access to the NEO/GAS tokens on the second day of each month.
- Most rewarding in-built wallet.
10.Ansy
- Ansy is NEO paper wallet.
- NEO is sent to wallet using the public address and tokens are spent using the private address.
- Wallet cannot claim GAS.
- It is presently available through Google Chrome and Microsoft Edge.
NEO investors use these wallets. There will be more wallets in the coming future as NEO further develops its blockchain.
Supriya holds a masters degree in Applied Physics. She has a keen interest in exploring new technologies and expresses her curiosity by writing for various technology platforms. She is an avid follower of Blockchain technology. She strongly believes that blockchain will bring lasting transformations in people's lives in the years to come.
