In 2014, Da Hongfei and Erik Zhan founded AntShares. They rebranded it in June 2017 and named it as NEO.
Launched in China, NEO is a cryptocurrency made to set up a scalable network of decentralized applications. Aside from the NEO coins, NEO has another token called GAS (known as ANC-Antcoins). GAS tokens will be for transaction fees on the NEO network. It will generate when holding non-divisible NEO assets.
When NEO entered the market, it is said to be the “Ethereum Killer” based on its development structure. Cryptocurrency experts dubbed NEO as a major competitor for Ethereum which was built based on a single development code. NEO, though, has the capability of supporting many development languages. Those developers using NEO have the freedom to set a diverse ecosystem.
In storing your NEO assets, there is a wide range of wallets that offer different features and components. Make sure to check out which one suits you.
What is a NEO Wallet?
When you have NEO assets, always make it a point to store them securely. The NEO community have been working relentlessly to develop a range of wallets that provides secure storage for NEO. At the same time to be used to store and claim your GAS.
As with any other cryptocurrencies, it is important to keep your private keys somewhere safe.
The Challenges NEO Users Deal With
When you use NEO it has some challenges, too.
- Users cannot identify which NEO wallets are legit and which are harmful.
- Users are not confident in choosing the right NEO wallet to use.
- Users don’t know which NEO wallet support NEO and GAS transactions.
- Users are not sure which NEO wallet generates GAS and which do not.
With that said, NEO is a new project, thus not a lot of wallet options around. But that doesn’t mean there are no trusted wallets available for your NEO and GAS. There are still quite a handful of reliable wallets for NEO.
What to Look for in a NEO Wallet
When you want to get a NEO wallet that fits your needs, don’t forget to keep these features in mind:
- NEO and GAS Support – Not all wallets have every single cryptocurrency on their platform. Make sure the wallet supports both NEO and GAS tokens.
- Generating GAS – NEO holders can earn a passive income like earning dividends. When you hold NEO in an official wallet, you can get GAS tokens with every new block generated.
- Security – How does the wallet secure your funds? Does it feature elite security? Offline wallets provide the best protection. In using a desktop, mobile or web wallet, it is best to have security features like two-factor authentication, advanced encryption, and multi-sig functionality.
- Private Keys – Another important feature you need to consider is whether a wallet allows you full control of your private keys. You need these to access your investments. Make sure the wallet will let you always maintain possession of any private key.
- Simple User Interface – Is the wallet easy to use even for beginners? Cryptocurrencies are complicated in nature. Look for a wallet that has a simple interface and is user-friendly. This will help you manage your funds without a hassle.
- Development – Does the wallet have a strong development team? Are there continuous upgrades and improvements to the wallet?
- Customer Support – What support is available when you will encounter problems while using the wallet? Does it have chat, phone or email support that is readily available?
Best NEO Wallets
#1. Ledger Nano S Wallet (hardware wallet)
Keeping NEO for long term storage calls for a secure wallet. Hardware wallet is the best choice to keep it safe. Ledger Nano S started supporting NEO in the last quarter of 2017 and it works with NEON wallet. You can claim the earned GAS using Ledger Nano S and NEON combination.
After using this combination, you don’t have to enter the private key or keep it on the computer. This helps reduce the chances of getting hacked. Aside from that, one can send NEO or GAS only when they have access to the Ledger Nano S hardware device. This makes Ledger Nano S the most secure wallet for holding NEO.
#2. Atomic Wallet
Atomic wallet is a desktop wallet that is available for different systems like Windows, MacOS, Fedora, Ubuntu, and Debian. New in the market, it is a multi-asset custody-free solution for secure storage and management of BTC, ETH, LTC, NEO, XRP, and over 300 other cryptocurrencies. It secures your private keys by encrypting your device and giving you full control of your funds.
Aside from an intuitive user interface, Atomic wallet offers a wide range of features like:
- Decentralized storage for private keys
- Built-in option bank card named Atomic Swaps for buying crypto
- Instant exchange via Changelly or Shapeshift
- Interface for custom tokens
Android and iOS versions for handheld devices are also available.
#3. NEO GUI (desktop wallet)
Known to be as one of the official desktop wallets for NEO is the NEO GUI wallet. Formulated by NEO developers, this is a synchronizing wallet that downloads the blockchain onto your system. Though this will take time and a lot of space on your hard drive. But once the sync is complete, NEO GUI will permit users to create a new wallet with password protection. Users can also create a backup of their wallet by importing their private key in WIF or HEX format.
This wallet will also allow you to store and transact in both NEO and GAS. There is GAS generation rewards for holding NEO tokens.
As of now, NEO GUI wallet is available for Windows 7 SP1 and later in English and Chinese languages only.
#4. O3 Wallet (Mobile wallet)
The O3 Wallet is a mobile-based wallet for both Android and iOS devices. It is a hot wallet where your private keys are stored in the iOS keychain through touchID or PIN. The information is stored on your mobile device, but the private data is never sent remotely.
The wallet was developed exclusively for NEO. It allows real-time monitoring of your portfolio which is perfect for on-the-go people. You can even split your holdings into two wallets, a hot wallet for day-to-day use and a cold wallet for storing the bulk of your investments.
This free, open-source wallet has a simple user interface and convenient to use. Making its reputation as one of the best iOS wallets for NEO.
#5. Neon Wallet (Web Wallet)
City of Zion is the developer of Neon Wallet. Though it is not developed by official NEO people, NEO developers have reviewed it meticulously. The NEO team found this wallet to be 100% safe. Thus, touted as one of the best NEO wallets available in the market right now.
Neon wallet is a lightweight desktop wallet that allows you to store, send and receive both NEO and GAS tokens. Once you are holding NEO cryptos in the Neon wallet (not on an exchange), you can claim your generated GAS.
For beginners, this one is simple and easy to use. It has a user-friendly interface and has all features for a desktop wallet.
Another positive thing about this wallet is that it does not store information about your private keys. Thus, you have total control of your funds.
Neon Wallet is available on Mac, Windows, and Linux operating systems.
#6. Neo Wallet (Web Wallet)
Another web wallet developed and maintained by the NEO development team, NEO Wallet is considered as an “offline wallet”. This means that no wallet files or private keys are uploaded and saved onto the NEO wallet server.
NEO Wallet is based on Application Programming Interface (API) that allows all message to be encrypted before transmission.
In this wallet, you can store, receive and send both NEO and GAS. At the same time, NEO holders can claim the generated GAS.
NEO Wallet is currently available through Chrome and Edge internet browsers in English and Chinese languages.
#7. NEO Tracker (Web Wallet)
NEO Tracker Wallet is another web-based wallet that was developed independently from NEO. Though not an official NEO wallet, it uses NEO’s best methods to guarantee the safety of your funds. When you generate a NEO using this, it gives you a keystore file to download. The keystore file is where your keys are, but in an encrypted form.
This wallet allows NEO owners to connect and explore the NEO blockchain through the Internet. NEO Trackers let you store, send, and receive NEO and GAS. It is also possible to claim your generated GAS with regards to the amount of NEO you are holding.
As of present, NEO Tracker wallet is only available through the Chrome and Edge internet browsers and in the English language.
#8. Ansy NEO (Paper Wallet)
When you are planning to sore your NEO coins for long-term, NEO paper wallet is a great option.
NEO paper wallet is literally a piece of paper with your public and private address printed on it. Since the private keys are stored offline, there is no chance of hacking. Unless your piece of paper is stolen or into the hands of someone else, losing your funds is impossible.
This wallet can be used for storing and spending NEO and GAS. But you cannot claim GAS generated tokens.
With the QR code that applies to the public address, people can send any amount of NEO to this wallet.
Ansy paper wallets are available for download through the Chrome or Edge internet browsers and in the English language only.
#9. NEO CLI (desktop wallet)
NEO development team have created another wallet making NEO CLI another official NEO wallet. The main difference between NEO CLI and NEO GUI is that this wallet is a CLI wallet which means it is controlled by Command Line prompts.
NEO CLI is complicated and not suitable for beginners. Users that are already comfortable with CLI language will benefit from this wallet.
Same as other wallets in this list, NEO CLI lets you store, send and receive both NEO and GAS. At the same time, NEO shareholders can claim their GAS generated tokens.
Currently, NEO CLI wallet is available for Windows and Linux in English language only.
#10. Aphelion Wallet
The Aphelion Wallet is one of the latest to support NEO tokens. It functions as a peer-to-peer trading platform for cryptocurrencies. At the same time, it runs on the NEO blockchain.
With its impressive user interface, this wallet is appreciated by traders and proving to be one of the best NEO wallets available in the market.
The Aphelion wallet serves both desktop and mobile users.
#11. InWeCrypto Wallet
InWeCrypto wallet is a multi-asset wallet for cryptocurrencies. It supports NEO and ETH based tokens. Having a multi-asset wallet allows users to manage their portfolio smartly.
When it comes to security, InWeCrypto has the mnemonic backup together with private keys.
The wallet also provides room for the trading of NEO assets in one click.
How to Securely Store Your NEO
In securing your NEO, GAS or other cryptocurrencies, remember these things:
- Research – It is important to do your research before choosing any wallet. Check on its features, level of security, and ease of use.
- Choose the perfect password – Create a strong, unique password to help you secure your investments.
- Keep your private keys – Make sure your private keys are stored in a secure place. Do not share them with anyone else. You can’t access your wallet without your keys or somebody else can get hold of your wallet once they know your private keys.
- Update your protection – Your antivirus software adds an essential layer of protection against hackers. Keep them all updated on all your devices.
- Watch out for Scams – Before clicking on that URL, double-check it and download files from reputable providers. There are fraudsters trying to con crypto holders by setting up scam wallets.
- NEO is indivisible – This means that the smallest unit of NEO will always be one. It is important to remember this, especially when transferring tokens between wallets.
What are the Things to Consider When Using a NEO Wallet?
Now that you have selected a wallet for your NEO coins, keep these things in mind when using it.
- Backup your wallet.
- Keep your backups in a safe place.
- Storing coins on your wallet means you have total control of your funds.
- Make sure you don’t leave tokens on the exchange.
- Holding NEO in a compatible wallet that generates GAS can give you passive income.
- It would be best to use a NEO wallet that is created by NEO developers or are recommended from their
NEO is tagged as trying to outplace Ethereum, and it is nearly there. NEO is the only platform that is competent to challenge Ethereum. The thought of having a passive income when holding NEO coins in a compatible wallet thus gaining GAS in return is an advantage. This project also provides the perfect ecosystem to deploy DApps and smart contracts. It can handle the high number of transactions that is usually happening in the real world.
Choosing the perfect wallet for NEO coins can be tricky as there are bogus platforms in the market. Better to have conducted a thorough research where to store your assets. Offline wallets are one of the most secure way for storing your cryptocurrencies more so with NEO.
The list above has different purposes and varies in style. It is still up to you what suits you best. Best to check on the wallet that you have chosen.
1. Are there fees in making NEO transactions?
None. You can send NEO from your wallet with zero fees. However, exchanges charge you a fee and are collected by them.
2. Will NEO overtake Ethereum success?
NEO is known to be more efficient than Ethereum right now. Yet, it is still a long way down from gaining support to dethrone Ethereum.
3. How to earn GAS from NEO coins?
In storing NEO coins on the official NEO wallet, you can earn GAS automatically.
4. What is GAS?
GAS is the secondary token on NEO platform.
5. If I keep my NEO on an exchange, can I get GAS?
It depends on the exchange your using. Binance, for example, is an exchange that distributes GAS generated to its users on a monthly basis. This is not a typical occurrence.
6. Is it possible to buy GAS coins without NEO?
Yes, you can buy only GAS tokens on an exchange. NEO and GAS are two separate entities.
7. What to do to receive GAS dividends?
Nothing. GAS dividends are automatically calculated and sent out to NEO holders.
8. Is there a minimum amount or times I must use NEO?
None. No need to do any certain amount or volume of trades to use the services for NEO. There is also no minimum trade you are required to make.
9. Can you buy NEO with fiat currency?
You can but it depends on the exchange. Only a small group of exchanges will accept fiat in buying NEO. The simple and preferred method in buying NEO is using other cryptocurrencies.
10. Do I have to keep the wallet open to generate GAS?
No, you don’t have to. The minute you moved NEO away from exchanges it will automatically generate your GAS.