Update November 5th, 2017:
The quickest way to buy Neo is still to grab some Bitcoin on Coinbase, then buy Neo on an exchange. This page demonstrates how to do so on Bittrex. I’m always keeping my eyes peeled for quicker routes. Happy trading!
I recently started a little quest — which turned into a micro-obsession — with cryptocurrency. It’s extremely interesting — even sexy in a nerdy kind of way. It took me probably 12-15 hours of tinkering around different marketplaces and reddit threads before I found the easiest route to diving into crypto, so I figured I would make a user friendly guide on how to buy Antshares.
What are Antshares/NEO? That sounds weird.
Glad you asked. I agree. Antshares have been getting a ton of buzz in the past few months, having just recently surpassed the $10 per coin mark — which is a pretty big deal around here. Antshares/NEO is being described as the most undervalued cryptocurrency (with the highest upside) on the market currently. Myself, having just flipped a quick buck on the rapid rise of Ethereum, couldn’t resist getting in early. You should be stoked too.
You can read all you want about Antshares elsewhere, I’ll get to the good stuff.
– If you already have Bitcoin, just copy down your address and head to step 4.
– As far as multi-coin hardware wallets go, I recommend Ledger
I. Create A Coinbase Account
First, head on over to the Coinbase Signup Page. Within minutes, you’ll be rocking with a really user friendly wallet & marketplace for Bitcoin, Ethereum & Litecoin. We’ll buy Bitcoin here which you will trade to buy NEO. Note: you DO NOT have to buy full Bitcoins. You can buy small fractions of them.
Why can’t I buy NEO with USD or my local currency?
Simply not possible yet. Hopefully someday soon. The crucial part here is the ability to buy these coins with cash/credit/debit — a functionality lacking on most of the marketplaces I have found — especially where you’re trying to come up on some more unique cryptocurrencies.
- Paypal & Credit/Debit have an instant buy timeframe. However, you’re going to be capped at $200 per week until you submit a form of ID — at which point you’re only bumped up to a $500 limit. Kind of lame, but it’s a sellers market.
- Bank Transfers have a 5-9 day waiting period for the funds to be taken from your account and the coins to be available for trade. However, the weekly limit is $2000 off the bat — and bumped considerably when you verify your identity.
II. Create A Bittrex Account
Bittrex is where you’ll be actually bidding on Antshares — or any other of the currencies they offer for that matter — but more on that in next steps. First, we’re just going to create an account — so head over to the Bittrex registration page.
The registration process here was super fast & easy. Less can be said about interpreting their dashboard, but it’s not the worst. Once, you’re approved here, we’ll get to the good stuff.
III. Buy Some Bitcoin on Coinbase
Coinbase has a super sleek user interface, so you can probably figure this one out without me — but here we go. Head on over to the Buy/Sell tab, select Bitcoin from the list, select your payment method (you’ll have to set those up first under Payment Methods), set your price & make your move.
Don’t let the high ticket price of Bitcoin scare you off, you can purchase fractions of them. If you opted to use Credit/Debit/Paypal, the Bitcoins should be immediately available for your use. Easy part over!
IV. Transfer Bitcoin to Bittrex
Alright, we’re headed into funky town. This one gets a little techy, so bare with me as I attempt to weave a clever screenshot matrix below, with explanation following them. (Click to open slideshow)
First, you’re going to head over to your Bittrex account & navigate to your Wallets tab. Here, you’ll search the top list of currencies for “Bitcoin.” When you find Bitcoin, click the + icon to open a lightbox in which you will generate a Bitcoin wallet address. Once you’ve done this, copy that long string of letters & number.
Then, you’ll head over to Coinbase. Here, you’ll navigate to the Send/Request tab. Then, you’ll paste the address you just generated in the address input area. You can opt to either move all of your Bitcoin, or some fraction.
The transfer should take under an hour to complete. It will remain in “Pending” in your Coinbase account & you’ll get an email notification when the transfer is complete. You can also just refresh your Bittrex wallet page once every 20 seconds if you are me.
Boom, hard part one over!
V. Bid On Some Antshares / NEO
The moment has come. Navigate to the ANS market page:
Update: Market is now officially called NEO, please refine your search:
You can see all of the historical pricing data in the graph up top. If you like the current rate, you’re free to pull the trigger. Scroll down to the “Buy Antshares” section. There are a few knobs on this one. You can set your bid price, select the max amount, and select the conditions in which you would like your transaction to take place.
Buying them took me a couple minutes to figure out, so just read the options and see what they do to your subtotal to make sure you are happy with the transaction you’re about to request.
Now that I have these Ant things, what do I do?
That’s for you to decide. Now that you know how to buy Antshares & all. If all this buzz is true, I would recommend sitting on them until the cows come home. Some signs point to this being the #1 blockchain currency in China (which is big, ask Trump) within a few years or less.
You can watch the exchange rate on Bittrex, or on some other crypto accounting application. Once you like what you see, just do the whole process backwards & cash out.
Recommended NEO Wallet:
Download: Neon Wallet by CoZ
If this guide helps you as it has helped many already, small tips are very graciously accepted:
Good luck & BasedGodspeed.