Founded in 2014, the Neo crypto platform became incredibly popular in China. The essence of the project is to allow the tokenization of real-sector assets, and people in China especially appreciate it. Successful ICO allowed the company to raise a significant sum for the project development, and it will likely expand its adoption in European countries.
Let’s see what NEO is all about.
The Features of Neo
Neo is a distributed network with centralized governance, which means it is managed by a central authority, which does not satisfy some crypto users who cherish anonymity. However, the platform has good features:
- it supports all common programming languages;
- speedy transactions;
- smart contracts are at the platform’s core.
In December 2022, the NEO price is $6.45; a market cap is over $454
Some historical facts about NEO:
- the first name of the project was Antshares;
- modified Proof-of-Stake mechanism;
- half of tokens were sold during the ICO, and the rest were allocated among NEO council;
- During the ICO, the project received 6119 BTC which allowed the release of 100 M NEO tokens.
- In 2017, the project reached $2 billion in market cap and got to the top 20 cryptos in the ranking.
What is Leverage in Trading Crypto?
NEO tokens capitalization allows this asset to be used in trading with leverage. Leverage trading crypto is a financial instrument that allows borrowing funds from a crypto platform to enter the market with a more profitable position and multiply investments. Picking NEO tokens for leveraged trading is a good idea because its cap is not too high and not too low at the same time, which leaves many chances for the token to follow the upward market trend.
Leverage crypto trading allows for generating large amounts while putting in the minimum initial investment. For example, if you have $100 but wish to open the position on $1000, you take a leverage ratio of 1:10 and trade the borrowed sum. In the end, you receive income as if you really invested $1000.
Trading with leverage is available on large crypto exchanges; for example, WhiteBIT offers up to X20 leverage ratio. Read more about leverage trading on the WhiteBIT blog.