A total of 100 million NEO was issued and it represents the ownership of the chain. 100 million was created in the Genesis Block and distributed according to distribution mechanism as described in its white paper. The total amount of NEO shares is fixed at 100 million and can not be increased. The smallest unit of the NEO is 1 NEO and can not be divided.
A total of 100 million GAS will be produced and it represents the right to use the chain. GAS will be generated with the formation of each new block, in accordance with a decreasing rate of generation, it will take around 22 years for the amount of GAS to grow from 9 to 100 million.
Read the full Neo Whitepaper here.
The reason you must fund Coinbase first is the company accepts FIAT currencies, i.e USD, EUR, etc. From there, you can take your FIAT converted to ETH and purchase Neo, or any other coin at Binance.
Alt: Transfer for free to your Neo wallet for gas – instructions below.
Look for the market pair you want to exchange. In this case, locate the NEO/ETC pair and click (search for NEO/BTC if you funded your account with Bitcoin).
The page loads the NEO/ETC pair, and you are set to exchange your coins for NEO.
Beneath the chart, locate Buy NEO section.
The first box shows the value of ETC per NEO to be purchased.
The second box is for you to enter the amount (number of coins) of NEO you want to exchange for your BTC or Ether you funded.
Below the Amount box, you have options to use 25%, 50%, 75%, or all of your deposited funds to buy the NEO cryptocurrency.
The total box shows you how much BTC or Ether you are paying to buy the quantity of NEO you entered.
Click the Buy NEO button.
Within some few seconds, you should have the NEO you have exchanged credited to your NEO wallet on the Binance platform.
Your NEO cryptocurrency is now available to be sent out to your wallet outside the exchange.
Keeping your NEO cryptos on an exchange like Bittrex or Binance might not be the best idea as having it on your NEON wallet gives you GAS for holding NEO.
To get started, you need to download and setup NEON wallet on your computer.
Download NEON Wallet – view up to date guides on on the latest versions of Neo here.
The installation is straightforward and easy. It’s just merely unpacking and clicking on the executable file you see in it. The interface should pop up for you to login or create a new NEO wallet.
Hit on the New Wallet button, and print the next screen as this displays your public and private key addresses.
Note: You don’t need to have a printer to have it printed. Depending on your operating system, you could have the option of printing to PDF. Your keys then get saved on your PC as a PDF file which you can access at any time.
Copy the private key displayed by clicking on the small icon in front of it.
Click on “back to login” button.
Enter paste the private key you just copied then click the login button.
Now we’ll need to head over to Bittrex, Binance or wherever you have your NEO cryptocurrency stored.
Copy your address, your public key address this time and enter on the exchange platform you are transferring from.
Enter the amount you are sending and click the send button.
Wait some minutes for your NEO to reflect in your NEON wallet.
It’s that simple. For as long as your NEOs stay in your NEON wallet, you will earn GAS for the value of NEOs you are holding.