Where to Store NEO: 2020's Best Options
in NEO (NEO)
NEO gained popularity in 2017 as a competitor to Ethereum, the most popular blockchain platform for launching decentralized applications.
For a time, it was even called the "Chinese Ethereum", despite differences in the underlying fundamentals of both projects.
If you’d like to learn more about NEO, we’ve put together a full guide on it here.
But where to store NEO? Here are the best options available.
Where to Store NEO: Best Options
In brief, the best places to store your NEO are the following:
- NEON Wallet - NEO-only wallet for desktop (Windows, macOS, Linux)
- Exodus - multicurrency wallet (100+ cryptos) for desktop (Windows, macOS, Linux) and mobile (Android, iOS)
- Ledger - hardware wallet that works with NEON Wallet to provide additional security
Where to Store NEO: Best Options (More Detail)
There are a couple of options for storing NEO safely. First, there is the NEO Neon wallet. The Neon wallet is a light wallet, meaning you don’t have to download the full NEO blockchain in order to use it. The Neon wallet is available to download for free, and it’s a popular choice among NEO users.
In fact, many people in the cryptocurrency community feel that the NEO Neon wallet is one of the best single-coin cryptocurrency wallets out there. It works well, there’s rarely any buggy behavior, and the Neon wallet looks awesome!
If you’d rather use a different wallet there are lots of choices; the NEO website lists more than a dozen wallets which support NEO.
One of the wallets listed on NEO’s website is the Exodus NEO wallet. While the Neon wallet works great for NEO, the problem is that it doesn’t support any other cryptocurrencies.
The Exodus wallet on the other hand can be used to store more than 100 different cryptocurrencies. That means you can keep all of your favorite coins in one place without having to access multiple wallets.
Other advantages that users love include:
- Focus on premium design and ease of use
- Is the only wallet to support desktop, mobile, and hardware wallet (Trezor) integration for 90+ assets (NEO support not yet available 😔)
- Gives you the ability to exchange cryptos for other cryptos right from your wallet - without creating an account! (desktop guide, mobile guide)
- Supports the best decentralized applications like Compound Finance
- Allows you to stake some of the hottest cryptos for crypto passive income
- Lets you sync your wallet between desktop and mobile
- and has 24/7, fast human support if you ever need help
How to Store NEO on Ledger Nano S Hardware Wallet
Besides using Exodus, one of the most secure ways to store your NEO is by keeping it on a Ledger Nano S. The advantage of using a Ledger is that it makes it almost impossible for a hacker to steal your crypto. A physical button must be pressed on the device in order to approve a transaction. This is what makes a hardware wallet so secure.
Unfortunately, Exodus doesn’t support the Ledger Nano S yet so if you’d like to use this hardware device you can do so with the Neon wallet.
The Neon wallet has native support for the Ledger Nano S which means that it’s plug and play, no complicated setup necessary. The Neon wallet supports both the Ledger Nano S as well as the newer, bluetooth enabled Ledger Nano X.
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Hopefully now you know where to store NEO so you can sleep at night knowing that your valuable NEO is safe.
As for NEO’s future, NEO is an interesting project because it’s not yet clear which smart contract platform is going to end up dominating the space. All signs point to Ethereum due to developments like its large community and working on things like DeFi (decentralized finance).
Nevertheless, it’s still impossible to say for sure which platform will be the winner (or if there will be multiple winners).
NEO sacrifices some decentralization, but makes up for it with a very high number of transactions per second. This speed advantage over Ethereum could help it to gain mass adoption going forward, which would be great news for investors, users, and other members of the NEO community.
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.