NEO has set the crypto world abuzz and if many experts are to be believed it’s the next Ethereum. It is faster and can easily overcome Ethereum’s scalability issues and top it all, it is China’s only existing blockchain as of now.
With so much expected out of NEO in the coming years I am sure a lot of new investors are looking to throw in a few chips and in case you’ve already done it the next step is to know how to store it safely.
So we picked out the 5 best NEO wallets for 2018. Here’s everything you need to know about them.
#1 Pick: Ledger Nano
In my opinion, NEO is a long-term investment and thus safety and security are of utmost importance making a hardware wallet the ideal wallet type. Ledger Nano works in tandem with the NEON Wallet and thus enables you to claim gas at any point in time.
And since you won’t have any data stored on your computer chances of getting hacked are none and the only way to access the wallet is through a PIN. Also, your data is regularly backed up and can be restored using any compatible wallet.
#2 Pick: NEON Wallet
Worried you might lose your hardware wallet? Well, with the NEON Wallet (developed by the City of ZION) you can safely store all your NEO on your desktop itself. It allows you to send or receive or simply store NEO or gas anytime. It’s compatible with Windows, Mac, and Linux but here’s the best part.
Holding NEO in this lightweight wallet automatically generates gas which can be claimed within seconds at any point in time and since the private keys aren’t stored anywhere it is all decentralized, so you’re still in charge. Also, since installing and using the wallet is easy peasy, it’s perfect for newbies.
NEON Walltet Tutorial for Newbies
#3 Pick: NEO GUI (The Official Wallet)
It hardly get’s any safer and better than the official wallet. Yup, the NEO GUI is a desktop wallet that has been developed by the NEO blockchain developers itself. The GUI feature i.e. Graphical User Interface allows the wallet to work in sync with the blockchain and though syncing takes up some time, it comes with its share of benefits.
Once completed you can set up a new password-protected wallet that can be backed up by importing the private keys in HEX or WIF format. Also, the more NEO you hold, the more gas is generated which can be collected anytime.
Currently, the wallet is only compatible with Windows 7 SPI and is available in English and Chinese.
Step by Step NEO GUI Guide
#4 Pick: Ansy
While not quite popular yet, paper wallets like Ansy are the best way to store your NEO and Gas coins offline, especially useful if you’re in for the long haul as they are not prone to hacks. These are printed copies of your public and private codes that need to be stored safely (don’t want these to be in the wrong hands).
You can access your currency using QR codes but remember there are no gas rewards for holding NEO. The wallet can be set up using the Generate or Convert option. I’d recommend the Generate option as it is a random sequence and thus safer.
The wallet can only be used by Chrome/Edge browsers and is available in English.
#5 Pick: Binance Wallet
Binance is fast growing to be one of the biggest exchanges and for NEO holders it’s the ideal pick. That’s because unlike most exchanges Binance lets you collect your accumulated gas on every 2nd of the month.
Note: I wouldn’t recommend you leave any of your crypto investment on an exchange wallet for too long as it is prone to hacks and latest the DDOS attacks on BitFinex being the latest example of it so in case you haven’t yet, switch to one the top 3 picks now.