Buy GAS Crypto Currency explained by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about What Is GAS CryptoCurrency.
What Is Buy GAS Crypto Currency?
Gas is the one of the tokens of the NEO smart contracts platform (the other one is NEO token) and should not be confused with the gas fee unit of the Ethereum network. The Gas tokens are paid out as a dividend and rewards on the NEO network and can be used for paying the fees for deploying and running smart contracts on the platform.
As far as we are aware, they cannot be used as a payment method outside the ecosystem of the NEO platform, but can be used for investment purposes.
How to buy Gas Cryptocurrency?
1. Buy Gas with another cryptocurrency. If you have Bitcoin or Ether, you can buy Gas with those cryptocurrencies. If you do not, you should buy those first. You can sign up for an account with Coinbase – a large and reputable exchange that offers its services in 32 countries across the world. It is regulated by a New York bit license, but perhaps its biggest advantage is the possibility to buy cryptocurrencies with a credit or a debit card. The commission is 4%, which is a bit high, but you can get your coins almost instantly. Another option is to pay through a bank transfer – it is slower, but the commission is just 1.5%.
2. Choose an exchange that offers Gas and open an account there. The token is available at Huobi, Binance, OKEx, Poloniex, Coinnest, GateIO, Kucoin and Exrates.
3. After you have set up your account and have undergone the necessary verification procedures, if needed, you can transfer your Bitcoin or Ether to the exchange and buy Gas.
You can also buy Gas with fiat currency. It would be simpler and more straightforward than the procedure described above. The only exchange that offers this option is Exrates, where you can buy Gas for USD. However, the exchange supports other fiat currencies and has relatively competitive fees.
After you get your Gas coins, we strongly advise you to move them off the exchange and store them in your own e-wallet. Storing cryptocurrencies online is generally risky, as the hot wallets can be hacked and your funds stolen. If this happens, you are entirely at the good will of the exchange and its ability to return you your funds. Most platforms do, but it is a slow and often complicated process and sometimes you do not get refunded in full.
So, here are the wallet options for Gas: Neon Wallet (you can store both Gas and NEO), NEO GUI (it synchronizes the entire blockchan so it can be slow and cumbersome), Ansy (a paper wallet in which you can print out your token keys and store them on paper), NEO Wallet and Neo Tracker. The last two are web wallets, i.e. not very safe.
How to Buy GAS Crypto Currency Conclusion
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