Best Wallet for NEO – Which Desktop and Hardware Wallets are the Best?
Neo (NEO) is a top 25 cryptocurrency that has a total market cap of over $9 billion. There are currently over 70 million NEO tokens in circulation. Initially known as Antshares, Neo is a rapidly developing blockchain ecosystem that aims at becoming the next generation of the internet.
Best NEO Wallets On The Market
The team behind the project wants to bring together digitized payments, assets and identities and encourages developers to build decentralized applications (dApps) and smart contracts on its blockchain.
If you buy NEO tokens at a cryptocurrency exchange like Binance or Huobi Global, transfer your funds from the exchange to a NEO wallet as soon as possible.
We have made the process of choosing a NEO wallet easier for you. Here are the best cryptocurrency wallets to store NEO tokens.
Best NEO wallets on the market
We have prepared a list of the best desktop and hardware wallets for NEO.
Here are the best desktop wallets to store NEO tokens:
Developed by the City of Zion, NEON Wallet is one of the best desktop wallet solutions to store NEO coins.
Here are a few of NEON Wallet’s primary features:
- NEON Wallet is open-source.
- The crypto wallet is available on Windows, Mac OS and Linux operating systems.
- You can integrate your wallet with all Ledger-based devices. This amplifies the security of your private keys and boosts the number of crypto tokens you can access.
- You have complete control over your private keys.
- NEON Wallet is a lightweight wallet solution – you do not have to download the entire Neo blockchain. This saves computer space and ensures that the speed and battery life of your device is not compromised.
- You can import and export your private keys and save them offline in the form of a paper wallet. Alternatively, you can save them offline on a USB device.
- To access the wallet, you must input a password.
- The wallet’s code is tested and approved by NEO developers.
- While the wallet is free of cost, you will be charged a fee in GAS every time you initiate an outbound transfer.
- The wallet is secured with a password and is non-custodial in nature.
- Ledger support on offer.
- You can send and receive NEO cryptocurrency, GAS tokens and Nep-5 tokens.
- You can earn free GAS tokens by storing your NEO tokens on the wallet. In addition to receiving free GAS, you are also eligible to participate in NEO-based ICOs.
- The wallet’s utility as a paper wallet makes it a viable option for cold storage.
- The wallet does not offer two-factor authentication (2FA) or multi-signature support.
- Does not offer a recovery seed
NEO GUI is the official NEO wallet.
Here is all you should know about the desktop wallet.
- We have enlisted NEO GUI’s primary features:
- NEO GUI directly connects to the Neo network’s graphical user interface (GUI), as the name suggests.
- The wallet is a full-stack client. This essentially means that you will have to download the entire Neo blockchain onto your computer.
- The wallet is compatible with Windows and macOS operating systems.
- The wallet is open-source and non-custodial in nature.
- You have to create and enter a password to access the crypto wallet.
- The wallet will never ask you for personal information.
- The wallet encrypts your private keys and you have sole ownership over them.
- NEO GUI offers two offline backup options. You can either download the decrypted version of the synchronized blockchain or note down your wallet credentials on a piece of paper.
- Other wallets use remote nodes to connect to the Neo network, while NEO GUI directly links to the mainnet’s user interface (UI). This means all transactions are recorded on the Neo blockchain instantly.
- NEO GUI is led by the Neo community and has no central governing body.
- NEO GUI is non-custodial.
- The wallet allows for anonymous trading.
- NEO GUI is a full-stack client. This means that the wallet does not offer a recovery phrase.
- The cryptocurrency wallet is not compatible with Linux systems.
The NEO CLI wallet too was created by Neo developers.
Mentioned below are some of NEO CLI’s principal features:
- NEO CLI is a command line interface (CLI) wallet. Crypto users that are comfortable with the language can use the wallet.
- You can send, store and receive NEO and GAS tokens.
- If you store NEO tokens on the wallet, you can claim GAS coins.
- The wallet is compatible with Windows, macOS and Linux operating systems.
- The wallet is ideal for advanced users.
- The crypto wallet is compatible with multiple operating systems.
- You can earn a passive income by storing NEO tokens on the wallet.
- Given the fact that the wallet is controlled by command line prompts, it is suited to users that are comfortable with the CLI language. The wallet is not for beginners.
- In order to cater to NEO and GAS withdrawal requests, the wallet must be open at all times. This essentially means that a transaction will only be approved if your NEO CLI wallet is open.
- Not very safe.
NEO Tracker is the best web-based wallet for NEO token storage.
NEO Tracker wallet is a web wallet that allows you to store, send and receive NEO and GAS coins.
Here are some of NEO Tracker’s primary features:
- The lightweight web-based wallet is open-source in nature and offers great ease of use.
- Your private keys are stored locally in encrypted form.
- Officially, NEO Tracker is an offline wallet as no information is ever stored on the wallet’s servers. The wallet uses your computer’s browser to generate the data necessary to explore the Neo blockchain.
- You have to enter a password to access the contents of the wallet.
- NEO holders will receive free GAS tokens if they store NEO coins on the wallet.
- The wallet is currently available through Chrome and Edge browsers.
- Open source wallet that is non-custodial in nature.
- You can earn a passive income in the form of GAS coins.
- The wallet functions as an offline wallet.
- Lightweight solution.
- No 2FA or multi-signature support on offer.
- Limited browser accessibility.
Ledger Nano S is the best hardware wallet to store NEO coins.
Ledger Nano S
Ledger S the best hardware wallet.
We have listed some of Ledger Nano S’s key features:
- Your private keys and cryptocurrencies are held on a physical hardware device. This means that your crypto tokens are stored offline and cannot be accessed remotely.
- The multi-currency wallet supports over 1,500 coins and tokens. These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Neo.
- You have to enter a 4-8 digit PIN code to access your device.
- A 24-word recovery phrase allows you to recover your wallet in case of a mishap.
- The hardware wallet is one of the safest crypto wallets on the market.
- Supports an enormous number of crypto-based digital assets.
- 2FA on offer.
- You have full control over your private keys.
- A Ledger Nano S wallet costs $59. If you want to use a free crypto wallet, Ledger Nano S is not for you.
- You have to link your Ledger Nano S wallet to NEON Wallet to store NEO coins.
- The cold wallet is not as user-friendly as some desktop wallets.
How to add NEO to Ledger Nano S?
- Open the Ledger Manager application on your computer.
- Connect your Ledger device to the computer and unlock it.
- Find Neo in the application catalog and click on the Install button.
- Download the latest version of the NEON Wallet and open it.
- Click on the Login using Ledger option followed by the Use Ledger device option.
- At this stage, you are ready to go and can send and receive NEO coins.
If you don’t want to mess around with software wallets, you should check out the Ledger Nano S. This affordable hardware wallet is a great way to keep your coins safe and secure. With support for nearly every coin on the market, it’s tough to go wrong with the Nano S.
To get your hands on this high-quality, affordable hardware wallet, visit the Ledger websiteVisit Ledger Nano S
We have answered some of the most frequently asked questions (FAQ) about NEO and NEO wallets.
Where can I store NEO?
If you intend on becoming a serious crypto investor, there is no better option than Ledger Nano S. If you purchase a Ledger Nano S wallet, you will have to fork out $59.
Given the supreme security that a Ledger Nano S wallet offers, each penny of your investment in the wallet is worth it.
If you want to use a desktop wallet that is free of cost, there are several available options. These include NEON Wallet, Neo GUI, Neo CLI and Neo Tracker.
How do I access my NEO wallet?
The first step to accessing a NEO wallet is to download it. Once you have downloaded and installed a NEO wallet of your choice, create an account and make use of all the security provisions on offer.
Write your backup seed phrase on a piece of paper and keep it in safe storage.
If you want to transfer funds from a cryptocurrency exchange or any other crypto marketplace, locate your NEO wallet address or NEO wallet QR code.
Once you have found your NEO wallet address, you can transfer funds to your crypto wallet.
How much is NEO worth?
At the moment, the NEO coin is worth $126.73. The cryptocurrency has experienced a remarkable start to 2021, as its value has risen nearly ten-fold since 1st January.
The Neo blockchain can support up to 10,000 transactions per second.
In comparison, Neo’s biggest rival, Ethereum, can process up to 30 transactions per second.
Bitcoin can only handle up to 7 transactions per second. In fact, Neo is popularly known as the Chinese Ethereum!
The Neo blockchain has a bright future and investors should keep an eye on the crypto token. It could not be long before the NEO token surpasses the $200 mark in valuation.
One of Neo’s biggest selling points is the fact that it is continuously developed.
This ensures that the blockchain network can handle sudden increases in demand.
Neo also provides extensive support for high-potential blockchain projects. It is clear to see that Neo has several use cases.
If you want to invest in the NEO coin or have already invested in it, choose a crypto wallet of repute.
Ledger Nano S is the best NEO wallet, hands down. The best desktop wallet/paper wallet for NEO coin storage is NEON Wallet.
You can explore O3 Mobile Wallet if you are looking for a mobile app that is compatible with Android and iOS systems.
Neo is one for the present and the future and the project’s native token, NEO, is set to play a big part in the ecosystem’s further growth and acceptance.