In this article I am going to talk about NEO. Thanks to its amazing technology which allows building decentralized apps with many programming languages NEO has already become one of the most trailblazing cryptocurrencies of this year.
People are calling Neo as “Ethereum of China“and “Ethereum Killer”.
Without a doubt, NEO has been one of the most promising cryptocurrency investments of 2017 for its investors, which led to a steep incline in NEO’s price. Price of each NEO was $0.14 in the beginning of 2017, and has already achieved a stunning +21,000% growth. The price skyrocketed up to $51 within a period of 8 months. Now, after the correction, it has settled down to its current price of around $25.
With such great response all around, many people have already bought NEO and Gas. But while interest in the company grows, NEO’s project development hasn’t grown at the same pace. It is still lagging in basic infrastructure like NEO wallets and NEO exchanges which deal with the GAS cryptocurrency and many people are struggling to store their NEO safely. One more thing important to note is that there are some scam NEO wallets like myneowallet.io. These wallets bring in more confusion to this speculative market.
However, it would be wrong on my part to say that NEO doesn’t have any good wallets. However, many NEO users are still facing a lot of basic issues.
Here are some of the challenges that NEO users/HODLERS face:
- Which NEO wallet to use.
- Which NEO wallet generates GAS.
- Which NEO wallets support sending/receiving of NEO and GAS.
- Which NEO wallets are legit and which ones are scams.
All that said, NEO is a relatively new crypto-project. This is the reason why it doesn’t have many wallet options available yet. However, there are still a few good options out there for storing NEO.
After a lot of research, I have found these 7 NEO wallets which are safe and reliable to store your coins.
Top 7 Best NEO Wallets Currently Available
There are 4 types of NEO wallets in the market:
- Mobile Wallet: NEO Wallet
- Desktop Wallet: NEON Wallet, NEO – CLI, NEO – GUI
- Paper Wallet: Ansy
- Web Wallet: NEO Tracker, NEOWallet, NEO Wallet
(https://github.com/CityOfZion/neon-wallet/releases) (Desktop Wallet)
NEON Wallet is considered to be one of the best NEO wallets currently available in the market. This wallet has been developed by City of Zion (https://cityofzion.io/), and although it is not developed by official NEO team, it has been declared 100% by them.
It is a lightweight NEO Desktop Wallet that allows you to store, receive, and send both NEO assets i.e. (NEO and GAS)
NEON wallet is a great wallet for beginners and is very easy to use. The awesome thing about it is that if you hold NEO cryptocurrency in the NEON Wallet, you can claim your automatically generated GAS.
Remember: You won’t be entitled with the free GAS if you hold your NEO on an exchange.
You need not worry about security while using the NEON Wallet for your NEO funds, because your private keys are never stored on NEON’s servers. This means you control your funds and makes your NEO and Gas extremely safe from any theft.
Note: Make sure to store a copy of your private keys somewhere safe because you would end up losing your funds if you ever lose your Private Key.
The NEON lightweight client is currently available on Mac, Windows, and Linux operating systems (in English only).
Setting up this wallet is really very easy. You can also watch this official video (https://youtu.be/ZWZFiixYfnM) for more reference.
Download NEON Wallet for Mac, Windows, or Linux (https://github.com/CityOfZion/neon-wallet/releases)
(https://neotracker.io/wallet) (Web Wallet)
NEO Tracker is a web-based offline wallet that allows you to store, send and receive NEO and GAS. This wallet is not an official NEO Wallet. However, it has got complete verification from the NEO team.
It is officially an offline wallet because it uses your machine’s browser to generate the necessary data. Also, nothing is ever stored on NEO Tracker’s servers, which means that your NEO is always safe.
When you generate a NEO wallet, it gives you a keystore file to download. This file contains your keys in an encrypted form.
Visit here (https://neotracker.io/wallet/faq) for more specific details on development.
NEO Tracker also allows its users to claim GAS for the amount they are holding in NEO.
This wallet is extremely user-friendly. This means that is the best one for beginners. Also, setting up this NEO Wallet is very simple:
- Go to NeoTracker site (https://neotracker.io/wallet) and click on “New Wallet”
- Enter a Password
- Download Keystore
- Copy the Private Key
- That’s it!
NEO Tracker is currently available through Chrome/Edge browsers and supports English language only.
Check out NEO Tracker Wallet (https://neotracker.io/wallet)
NEO – GUI
(https://github.com/neo-project/neo-gui/releases/tag/v2.2.0) (Desktop Wallet)
NEO GUI is the official NEO desktop wallet developed by NEO developers.
As expected, this wallet also allows you to store, send and receive both NEO assets (NEO and GAS).
It is a GUI wallet. This means it will allow you to use it by interacting with a graphical user interface.
Starting this GUI wallet takes some time because this is a synchronizing wallet, which means it will take some time to sync with the entire NEO blockchain. Once the sync is complete, you can make a new wallet with password protection. But make sure to store the Private Key (https://coinsutra.com/bitcoin-private-key/) safely, because if you forget the password, you will need it.
Currently, this wallet is available only for Windows 7 SP1 and later, and supports both English and Chinese language.
Download NEO-GUI (https://github.com/neo-project/neo-gui/releases/tag/v2.2.0)
(https://snowypowers.github.io/ansy/) (Paper Wallet)
You can surely try NEO Paper Wallet if you are planning to store your NEO coins for long period of time.
NEO Paper wallet (https://coinsutra.com/make-bitcoin-paper-wallet-spend-bitcoins/) is a piece of paper with your Private and Public Address printed on it.
The public address can be used to send any amount of NEO to this wallet, and the paper also contains a private address for you to use when you want to spend your tokens.
There is no threat of loss because the keys are offline, printed, and secured by the owner. But make sure to keep this printed piece of paper very safely, because if it gets in the hands of someone else, you might lose your funds.
You can easily store and receive NEO and GAS on your paper wallet. However, you won’t be able to claim GAS generated tokens with this wallet.
There are two ways to create this wallet:
- Generate – It automatically generates a difficult Private Key.
- Convert – You enter a paraphrase that will convert into a Private Key.
You need to visit Ansy site and enter a Private Key to create a Neo Paper Wallet.
Humans are predictable, so I would recommend you to choose Generate, because this reduces the possibility of any hack. If someone guesses your paraphrase, then it would be piece of cake to get the private key and your funds would be gone.
This wallet is currently available through Chrome/Edge browsers and supports only English.
Check out Ansy paper wallet for NEO (https://snowypowers.github.io/ansy/)
(https://neowallet.cn/) (Web Wallet)
NEO Wallet is a lightweight wallet that allows you to store, send, and receive both NEO and GAS. It also allows you to claim your free GAS. This wallet is developed and maintained by the NEO community.
Though it is an online wallet, it takes care of your NEO funds because your keys are not stored on NEO Wallet.
It also allows you to backup your NEO Wallet to control the private keys of your NEO funds.
It is very simple to get started with this wallet:
- Go to NEO Wallet (https://neowallet.cn/)
- Create a new wallet by setting up your passwords
This wallet is currently available through Chrome/Edge browsers, and it supports both English and Chinese language.
Check out NEO Wallet (https://neowallet.cn/)
(https://github.com/neo-project/neo-cli) (Desktop Wallet)
NEO-CLI wallet is perfect for those who are looking for something very advanced and safe.
This is another official NEO wallet developed and maintained by the NEO team, but the difference is that this is a CLI wallet. This means it’s controlled by Command line prompts.
NEO-CLI is not at all user-friendly from a beginner’s perspective and is for advanced users who are comfortable with the Command language. However, this wallet provides top-notch security for your NEO coins.
This wallet allows you to store, send and receive both NEO and Gas, and it also allows you to claim GAS generated tokens for holding your NEO tokens here.
This wallet is currently available only for Windows and Linux operating systems (in English only).
Check out NEO-CLI (https://github.com/neo-project/neo-cli)
(http://neowallet.net/) (Web Wallet)
NEOWallet is a free, open source light wallet that allows you to store/transact in NEO/GAS. You can also claim your generated GAS if you are holding NEO in this wallet.
NEOWallet is a secured web wallet that doesn’t store your private keys.
This wallet was developed by OnChain developers, and is currently available for access through Chrome/Edge browsers. It supports both Chinese and English language.
Check out NEOWallet (http://neowallet.net/)
What is the Best NEO Wallet?
I hope by now you must have selected a NEO Wallet for yourself. However, if you are still confused then you should go with NEO Tracker (https://neotracker.io/wallet) or NEON Wallet (https://github.com/CityOfZion/neon-wallet/releases).
Both these wallets are safe to store you NEO as well as GAS, and also, both of them allow you to claim GAS.
Before selecting a NEO wallet make sure that it has the option to claim GAS. Otherwise, you would be leaving money on the table.
Always remember, never leave your tokens on an exchange for long period of time. You can transfer it to their respective wallets or Ledger Nano S.
It is important to note that with NEO, you can earn free money if you put your tokens into a wallet which supports GAS!
That’s it for today! I hope that this detailed insight will help you in choosing the right wallet for yourself.