How to Exchange Bitcoin to NEO at the Best Price?
There is Ethereum and there is the Ethereum killer what people call it. However, the NEO coin is more than just being an Ethereum killer. In fact, the protocol is never built to be the Ethereum killer. NEO’s blockchain has its own setup and function, which makes it different from the Ethereum blockchain even though they share certain similarities.
NEO started as AntShares before it was rebranded as NEO in 2017; the NEO coin crypto was created in 2014 by Erik Zhan and Da Hongfei. As mentioned earlier, NEO, just like Ethereum is capable of hosting smart contracts and digital assets development on its blockchain. The protocol also has its own cryptocurrency NEO coin. This is why some users also call it the Chinese Ethereum. NEO’s focus is to make digital assets management automated via the utilization of smart contracts culminating in the creation of a distributed decentralized smart economy ecosystem based on the blockchain. Time to go into better details of what is NEO.
What is NEO?
The NEO blockchain provides a network on which developers can build decentralized products and services and users can carry out transactions. Sometimes it is called the “Ethereum of China” owing to the similarities between NEO and the more famous Ethereum. One of the similar features between them is the ability to create DApps for DEX, social networks, prediction markets, and many more.
To add to that, NEO is capable of many other features, which include hosting an identity system, a decentralized file storage system as well as an oracle system that acts as a feed for external data such as price data.
The NEO crypto has a unique governance mechanism known as the Delegated Byzantine Fault Tolerant consensus mechanism (dBFT). Also, its blockchain operation is tied to its dual token system that uses both GAS and NEO as its native token. NEO is the governance or utility token while GAS is used for transaction fees. NEO coin holders can vote on changes to the NEO protocol and also perform many other functions on the NEO blockchain.
Delegated Byzantine Fault Tolerant
The NEO protocol secures its network using the Delegated Byzantine Fault Tolerant. It ensures the synchronization of its distributed network of nodes. The dBFT consensus mechanism operates in a similar way to Delegated Proof-of-Stake. The dBFT controls a real-time voting system that is used to select which nodes operating the software will make the next block on the NEO chain. This means that you have to hold NEO to be able to run the NEO network.
For every NEO coin or token staked, it gives the NEO token holder voting power. The more you stake your NEO tokens, the more voting power you will get on the NEO protocol. So, every NEO staker gets to vote on the consensus nodes that serve the function of blocks creation. These consensus nodes are rewarded for block creation through GAS tokens paid as transaction fees.
What gives NEO its value?
Although the NEO blockchain is a dual token system, the cryptocurrency NEO coin is its main crypto. It serves various functions from staking to sending them as payments, etc. However, its main function is to enable the NEO coin holders to stake them to gain voting rights on changes that may occur to the protocol.
When you stake your NEO, you become eligible for a part of the block rewards distributed in GAS tokens. The creation of new blocks will continue to generate GAS until the NEO protocol has reached its maximum supply of 100,000,000 NEOs. This means that the supply of GAS and NEO is not infinite as we have in most crypto. Just like Bitcoin, this will induce scarcity and is sure to drive up the value of the NEO token. So, NEO and Bitcoin are on the same path in terms of capping maximum supply.
Is Neo the next Bitcoin?
Although both cryptos take the same path of scarcity-induced inflation to value derivation. Many other things point out that NEO is in fact its own cryptocurrency and not the next Bitcoin. However, we can still ask whether NEO is the next Bitcoin in terms of the path to the top of the blockchain ladder. That is highly likely for NEO given that just like Bitcoin, NEO has a finite amount of NEO coins that can ever be in circulation, which is 100 million. So, the NEO coin crypto could turn out to be the next big thing to see a massive pump in price in the future as scarcity of the token begins to bite hard.
Neo vs. Bitcoin
Users will inevitably begin to pit NEO vs Bitcoin given some similarities between them. However, for the sake of the Bitcoin vs NEO debate, we will take a look at how they differ and why NEO is unique in its own right.
One thing that makes NEO stand out from Bitcoin is indivisibility. Unlike Bitcoin that can be further subdivided into smaller units less than 1 called Satoshi. On the other hand, NEO smallest unit, which is 1 NEO is not sub-divisible into smaller units
To take the Bitcoin vs NEO debate further, Bitcoin has always been positioned as a kind of store of value and digital payment vessel. That is different for NEO, which serves more as a host for building DApps and smart contracts as well as a cryptocurrency that can be used to facilitate payment.
Where Bitcoin owns the NEO vs Bitcoin debate is the market size, dominance, and market cap. All of which Bitcoin is the bigger dog. For example, the market cap for NEO as of July 29, 2021 is $2,402,672,722 while Bitcoin is $742,590,835,910. Additionally, the value of both coins differs with Bitcoin clearly ahead of the queue, for example, 1 BTC to NEO is 1165 NEO
That is a lot of gaps; however, a crypto’s relevance in the market isn’t just about its market cap and all but about the sheer value it can deliver of which NEO is purposely built to deliver value. One thing you can get out of this part of the debate is that no crypto can beat Bitcoin for market cap size for now. So for the NEO Bitcoin debate, the argument may never finish but clear is what each coin brings to the market and has to offer users.
Why is Swapzone the best place to exchange BTC to NEO?
Swapzone is an exchanges site aggregator where you can get the best BTC to NEO or NEO to BTC conversion done. The website aggregates the best Bitcoin NEO exchange sites for you to choose from for converting your coins.
Step 1. On Swapzone, you select the BTC NEO pair from the list of tokens then the site will pull up all the BTC to NEO exchange with good value for your money where you can exchange BTC for NEO.
Step 2. Input the amount of BTC you want to exchange then you can select the exchange that suits you by clicking on the exchange button.
Step 3. You are prompted to input the address where you want to receive the NEO coin. There is also an option for a refund address, which is the address where your BTC will be refunded to.
Step 4. Click on the “proceed the exchange” button to carry out the exchange.
Why exchange BTC to NEO?
Traders have several reasons for exchanging one coin for another. However, most times traders exchange BTC to NEO to take advantage of the market. For example, if NEO is positioned to make serious gains in the market then you will find traders exchanging some of their BTC assets for NEO to benefit from it. Users could also exchange BTC to NEO for staking purpose on NEO to get rewards and participate in the governance of the protocol
What is the real-time BTC to NEO exchange rate?
You can check the real-time BTC to NEO exchange rate on Swapzone. As of July 29, 2021, the real-time exchange rate for 1 BTC to NEO is 1156 NEO.
Why is Swapzone the best place to exchange BTC to NEO?
Swapzone gives users options to select the best rate for swapping their assets without compromising the security of their assets as Swapzone is non-custodial.
What are the other options to buy Neo?