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How To Choose A Wallet for NEO Coin

| January 28, 2022, 08:00 AM

NEO is one of the cryptocurrencies that are considered competitors to Ethereum. The popularity of the token has been growing steadily for several years. How do you choose the best NEO wallet for your needs?

What is NEO wallet

This is a program designed to store NEO and GAS. The main blockchain currency is the first one, and GAS is used to pay staking rewards and pay for transactions on the network. Also, users can receive passive income for storing tokens.

Both coins can be sold, bought, and exchanged, and respectively, the wallet must support both coins. When choosing software or hardware to store the crypto, you should pay attention to the possibility of staking, since not all cryptocurrency exchanges support it.

How it works

The main task of cryptocurrency wallets is to encrypt and store unique addresses that provide you with access to coins on the blockchain. There are two of these addresses:

  • The private key with 64 characters. This is the access code to your wallet, which is also needed to sign transactions.
  • Public address with 66 characters. Used to get coins.

All cryptocurrencies are completely or almost completely decentralized. This means complete independence from financial intermediaries and equally full responsibility for the safe storage of personal funds.

Therefore, you need storage that optimally combines the desired usability and maximum security.

How to choose the best wallet

There is no perfect software or hardware to store crypto, but that doesn’t mean you should be limited to one. You can do the same with cryptocurrency as with fiat money: store some in a safe, and keep some in your wallet for minor expenses.

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Best NEO wallets

Best Mobile App – O3

It is a cross-platform wallet compatible with Android and iOS. Supports NEO, GAS, ONT, ONG, and NEP-5 tokens. The interface of the application is very simple and intuitive. The application supports staking and has constant access to the entire ecosystem news feed.

The app is updated frequently and has proven itself to be one of the most reliable in its class.

Best Web Wallet – Neo Tracker

Neo Tracker is simple and easy to set up and use – it will take about 30 seconds to create it. Supports the network’s coins only and is suitable for staking. Using Neo Tracker, you will also be able to view information on the blockchain.

Best Desktop Wallet – Neon

Convenient and understandable even for beginners, and also compatible with Mac, Linux, and Windows. The desktop app supports both network coins.

Not least, Neon is compatible with Ledger hardware storage devices, which means an extra layer of protection. But it will be technically impossible to make transactions on https://letsexchange.io/ or other platforms from other devices.

Users can select nodes to sync with the blockchain and thereby troubleshoot some of the wallet issues.

Neon is tested and approved by the NEO development team.

Best Hardware Wallet – Ledger Nano S

This device is considered one of the best wallets for storing NEO and over 1250 more coins.

The gadget is very easy to use. Its functionality is provided by its own OS – BOLOS, which has an unprecedented level of security and ensures compatibility of Ledger devices with cryptographic applications.

Category: Local News, NEWS

About the Author - Stephanie Maris

Stefanie is a local blogger and social media content marketer from Maryland and most recently a wife and a mother. She has an unhealthy obsession with puns, sarcasm and caffeinated beverages.

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