NEO – the ‘Chinese Ethereum’ – is a cryptocurrency which supports the development of smart contracts and digital assets. It seems like an aspirational coin, with it having many projects lined up for the near future.
GAS, the underlying crypto coin which facilitates NEO transactions, is NEO’s native token and it has created the foundations for NEO to become one of the best performing digital currencies of 2019. Since the start of the year, NEO has risen from around $7.50 and a market cap of around $490 Million, to now trading at approximately the $13 mark and an $940 Million market cap.
When you hold NEO in particular wallets, you get GAS in return. This is due to NEO deploying a Proof of Stake blockchain, meaning that it is one of the crypto coins which gives you the ability to earn currency while doing nothing. With this feature, holding NEO almost guarantees you a return of 4-6% per year and you can work out your potential returns using their staking calculator.
Neon is the recommended wallet for holding the cryptocurrency, as is allows you to automatically get your GAS rewards. Other wallets are able to do this, however you will need to hold your private keys individually.
KuCoin and Binance are also capable of giving GAS rewards regularly, however, earning and holding these rewards through an exchange can be a bad idea because of security reasons.
GAS can be claimed at anytime you require it, unless you are using one of the exchanges as they send out the rewards each month.
The ability to earn GAS while holding NEO is one of the main factors why it has become one of the best performing coins of 2019. Will NEO continue its impressive growth rate? Only time will tell.
Original Post: Why NEO has been the best performing coin of 2019