When I first found out about cryptocurrency it was Bitcoin and that was all. I presume it’s the same for most of us. Bitcoin is the face of crypto and blockchain technology. Then as I learned more, the second face or coin of Crypto showed itself as Ethereum, and perhaps the third was Litecoin, which is an expansion or “hard fork” of Bitcoin itself. Today I want to talk about one of the lesser known of the top 20, but still one of my favourites – Neo.
Well it turns out that at present there are between 2000 and 3000 of these cryptocurrencies or tokens as they’re called. Mind-boggling it can be to the new investor or researcher. It depends where you look on the internet as to how many tokens are listed. A great website one can use as a go-to reference is www.coinmarketcap.com. They mention 2089 active cryptocurrencies, while an equally good site – some would say even more informative – is www.coingecko.com. They mention a whopping 3068 coins/tokens, including those that are no longer traded and have probably just gone dormant or extinct. Both of these websites are great places to see the overall crypto market and all the various tokens or companies that make it up. A third is www.coinpaprika.com, if you want to compare all options. These sites are essential tools for the crypto trader or researcher, and we need both because cryptocurrency is both a revolution in finance as well as a revolution in technology. Therefore it’s doubly important and significant. Not everyone realizes this. Even if you’re not interested in economics, and are not into trading or markets, still you will find in blockchain technology – the platform or software that runs cryptocurrency – the most progressive tool in the digital world today. So it deserves some investigation.
If you look at the long list of currencies on the websites mentioned above, you can see their price, increase or decrease in value over the past hour, day, week or month, which is valuable info. You can also see their inception date, find out about their use cases and also price history in general, like when was their ATH (all time high price), particularly on coingecko. Generally it is recommended to focus any potential investing just on the top ten. I would say personally at this stage that it is worth looking at the top fifteen. Among them you will find some real gems, like one called Neo. It is seen as the Ethereum of China, was founded by a Chinese expert in the field of blockchcain and has some extra features beyond that of Bitcoin.
Bitcoin is run on a system called “proof of work” (POW) which implies that it is “mined” by computers using lots of electricity, which some say pollutes the planet and is of course expensive. A better or cleaner system is used by Neo and is called “proof of stake” (POS). Dash is another coin in the top fifteen that uses the same POS system, as do some others. So not all cryptocurrencies are created equal. There is variety, so we can’t use blanket statements about them regarding efficiency, cleanliness, speed, etc. In POS coins are not mined via power hungry computers. You can buy the pre-existing coins and stake them or hold them in your wallet or on the exchange like Binance, and Neo will actually reward you just for holding them. It’s something like earning interest by having a fixed deposit in a bank account.
So if you want to avoid the criticism of cryptocurrency being a pollutant to the earth via its power hungry mining system, then don’t buy Bitcoin, rather buy Neo. The name comes from the movie classic called The Matrix, which we all know, and their headquarters are even called the “City of Zion”. They have a sister coin called Trinity. Neo is brilliant because it can be used – like Ethereum – as a platform upon which one can build and run other tokens. China is big on Neo, and as China opens up their ban on cryptos now bit by bit, Neo will go far, and climb in price. Already you are earning passive income by simply holding Neo in your wallet. You are paid in another brother token called Gas which is worth quite a lot already on exchanges, so not to be sneezed at.
So as a result I have decided to sell a lot of my Bitcoin and Ethereum and buy Neo. After all, I will receive monthly deposits of Gas coin, which I can then use to buy more Neo, which will then bring me more Gas coin, and so the cycle can continue, if you know what I mean. Here I am relaxing and simply holding Neo and simultaneously earning more as a passive income without having to hussle and day trade or try to scalp profits in this current bear market. Neo is available on Binance, a leading cryptocurrency exchange (as well as others) so check it out. If you want to know more about Neo go to their website www.neo.org and read all about the darling of China who just turned two this past month. As you know there are billions of Chinese and they are mad about crypto, so if and when they enter the market, as they do in Hong Kong already, then we will see Neo reach 10x or ten times its value and we will be off to the moon. PS this is not investment advice, just my personal experience on my crypto journey. So until next time, may you see through the Matrix and find out your true identity as the one you have been waiting for.
108Bitcoin 