The Technology Behind Neo and Its Gas Price

One of the most exciting things about neo is its great technology behind it. When you buy neo, you're actually able to stake your neo and store it in a wallet where it can collect something called gas. The gas price is currently at $9.79, but it's expected to grow as neo grows.

The Gas Price Mechanism

So how does the gas price mechanism work? Rather than mining, which involves physical mining, you actually stake your neo in the system and use it to secure transactions. By doing this, you receive a reward in the form of gas. The gas price is more stable than the neo price and is used for transactions.

Staking Your Neo

When you want to save your neo, you can actually save it in something called a wallet. This wallet allows you to send and receive neo, as well as collect gas. I'm using my own neo wallet right now, which I'll show you below. You can see my public address, the amount of neo I have, and the amount of gas I've collected so far.

My Neo Wallet

I've had this neo on my account for a few days, and already I've collected 0.015 of gas, which is approximately $0.60. This is pretty much what happens when you stake your neo by sending it into a wallet like this. You can collect gas and claim it.

How to Download the Neo Wallet

To download the neo wallet, all you have to do is type "neo" into the search bar and find the Neo website. There are different options for downloading the wallet, including mobile, desktop, and web. I've downloaded the Neon client, which is a popular choice among neo users.

Creating a Wallet

Once you download the wallet, you'll need to create a wallet. This can be done using a private key or a keystore file. The process is very simple and straightforward. Just follow the instructions on screen, and you'll have your own neo wallet in no time.

The Importance of Updating Your Wallet

One important thing to note when creating a neo wallet is that it may need to be updated. This means that you'll need to redownload the wallet to access any neo or receive any transactions. You can see this in my wallet below, where it says "update your wallet".

Conclusion

That's pretty much it for this video. I just wanted to talk about what neo is and how you can store your neo. It's easy to download a neo wallet from the Neo website and start collecting gas. By taking your neo off an exchange and sending it to a wallet, you can start making money by letting it sit in your wallet.

"WEBVTTKind: captionsLanguage: enhey guys and welcome back to another video in today's video I'm just gonna be talking very basically about neo which is a cryptocurrency much like Bitcoin and aetherium and it's very new to the market and is up and coming so a lot of people have been putting a lot of money into neo as you can see the market cap here is that 1 billion just about a month ago or less than a month ago actually was that 2 billion so it's a huge market cap for a new IC o---- or for a new sorry cryptocurrency so it's been getting a lot of hype lately and I figured I just do a video explaining very basically what it is and how it works so if you know anything about crypto currencies you understand that their form of decentralized currency so unlike a bank they're not controlled by one person or one by one organization but by a community of people and by miners and things like that so not one person controls the currency decentralized pretty much so neo is a new currency it's been coming up in the market lately and a lot of people have been speculating about it and saying that it is the new aetherium and that soon it'll be rising to huge prices and personally I do agree I'm not going to give you a whole technical analysis of neo and if you should invest or not but personally I've invested a little bit in Sydney oh and I'm holding it for the long term and I'm just gonna continually keep increasing my portfolio hoping that this thing is going to go up and from what it looks like it probably is so pretty much a lot of people are saying neo is like the Chinese aetherium and it's rooted directly into China and you can see the chart here we've had a huge growth in the last few weeks in the last month it hit up to I think the top was about $50 or here I can't quite get it's 46 right there and now we've been dropping down drastically to it the last few weeks down to I think the lowest price we got to was about $17 so yeah right now is when I'm buying my neo because it's not an all-time low and personally I believe that it's gonna keep going up and because it does have a great technology behind it now with neo when you buy it you're actually able to stake your neo and store it in a wallet where it can collect something called gas now if I find the gas price so gas price Neil we can see that the gas price actually has grows as neo grows so here we'll just go to gas and you can see that it has a value of nine dollars and 79 cents now what happens here is rather than mining so using physical mining you actually stake your neo in the system and it's used to secure transactions so by doing this you receive a reward which is in the form of gas so gas kind of follows the same price as neo for right now but it is more stable and it's used for transactions so I'm not gonna go too far into that but just know when you stake your neo using something called a wallet which I'm gonna show you in a second you collect gas so now here's the next thing that we want to talk about so we kind of vaguely talked about neo and I'm gonna do a video more in-depth on it later but pretty much what do you do when you want to save your Neil so you can actually save it in something called a wall no this is my neo wallet right here you can see my public address if any of you want to send me any neo that would be awesome and then you can see the amount of neo I have which right now is only six a very small amount its price in USD currently so add it up so about each coin is worth $20 and then the gas price are sorry not the gas price but the gas collected so I've only had this neo on my account for a few days and already I've collected 0.015 of gas so that's about 60 cents like not even 60 cents a very small amount of gas has been collected so that's pretty much what happens when you stake your neo by sending it into a wallet like this and I'm gonna show you how to download that wallet you actually can collect gas and you can claim the gas so obviously I want to claim the gas here I can click claim gas and it's gonna send it to myself and it's gonna update this number here so now let's show you how do we get this wallet well it's really easy all you have to type is neo like this and then we'll just find the Neo website so we'll look for a neo so neo smart economy right here and I'll put this link down in the description below if you want to check this out and it brings us to the Neo website so you can see there is Chinese symbols here as it was developed in China and there's some different download links here so we have mobile desktop and web so now for desktop we have three different options obviously we have one for Windows and then one for Mac and Windows and Linux and then it's a second client here so we have some different clients and they show what versions they support now the one that I've downloaded here is called neon and that's what I showed you so feel free to download whatever whichever one you like to I recommend this one neon right here so you can click download there if you want to download that and then once you do that it's gonna bring you here so first of all you're gonna have to create a wallet now I've already gone over how to create a wallet for aetherium it's the same idea here for neo you can use a private key you can use a keystore file all that kind of stuff for creating a wallet very simple just follow the instructions on screen and once you've done that you can use your private key to access your wallet here now what's great here is it does actually tell you that you need to update your wallet so I would have to redownload this if I wanted to send any neo or receive any or not receive sorry send any meal out of this account and you can see the amount of neo you have again and the gas so yeah that's pretty much it for this video I just want to talk about really basically what neo is and how you can store your neo because I was kind of wondering myself once I bought the Neo will where do I put it well you can download a neo wallet just from the Neo website right here send it to your public address which is right here your public and your address you can just copy it like that and then it stores in here and actually collects gas which is awesome of you can actually just make money by letting your neo sit in your wallet so that's why you'd want to take it off of an exchange and send it right into a wallet so you can start collecting this gas okay so that's it for this video I hope you enjoyed if you did please like and subscribe and I will see you again another onehey guys and welcome back to another video in today's video I'm just gonna be talking very basically about neo which is a cryptocurrency much like Bitcoin and aetherium and it's very new to the market and is up and coming so a lot of people have been putting a lot of money into neo as you can see the market cap here is that 1 billion just about a month ago or less than a month ago actually was that 2 billion so it's a huge market cap for a new IC o---- or for a new sorry cryptocurrency so it's been getting a lot of hype lately and I figured I just do a video explaining very basically what it is and how it works so if you know anything about crypto currencies you understand that their form of decentralized currency so unlike a bank they're not controlled by one person or one by one organization but by a community of people and by miners and things like that so not one person controls the currency decentralized pretty much so neo is a new currency it's been coming up in the market lately and a lot of people have been speculating about it and saying that it is the new aetherium and that soon it'll be rising to huge prices and personally I do agree I'm not going to give you a whole technical analysis of neo and if you should invest or not but personally I've invested a little bit in Sydney oh and I'm holding it for the long term and I'm just gonna continually keep increasing my portfolio hoping that this thing is going to go up and from what it looks like it probably is so pretty much a lot of people are saying neo is like the Chinese aetherium and it's rooted directly into China and you can see the chart here we've had a huge growth in the last few weeks in the last month it hit up to I think the top was about $50 or here I can't quite get it's 46 right there and now we've been dropping down drastically to it the last few weeks down to I think the lowest price we got to was about $17 so yeah right now is when I'm buying my neo because it's not an all-time low and personally I believe that it's gonna keep going up and because it does have a great technology behind it now with neo when you buy it you're actually able to stake your neo and store it in a wallet where it can collect something called gas now if I find the gas price so gas price Neil we can see that the gas price actually has grows as neo grows so here we'll just go to gas and you can see that it has a value of nine dollars and 79 cents now what happens here is rather than mining so using physical mining you actually stake your neo in the system and it's used to secure transactions so by doing this you receive a reward which is in the form of gas so gas kind of follows the same price as neo for right now but it is more stable and it's used for transactions so I'm not gonna go too far into that but just know when you stake your neo using something called a wallet which I'm gonna show you in a second you collect gas so now here's the next thing that we want to talk about so we kind of vaguely talked about neo and I'm gonna do a video more in-depth on it later but pretty much what do you do when you want to save your Neil so you can actually save it in something called a wall no this is my neo wallet right here you can see my public address if any of you want to send me any neo that would be awesome and then you can see the amount of neo I have which right now is only six a very small amount its price in USD currently so add it up so about each coin is worth $20 and then the gas price are sorry not the gas price but the gas collected so I've only had this neo on my account for a few days and already I've collected 0.015 of gas so that's about 60 cents like not even 60 cents a very small amount of gas has been collected so that's pretty much what happens when you stake your neo by sending it into a wallet like this and I'm gonna show you how to download that wallet you actually can collect gas and you can claim the gas so obviously I want to claim the gas here I can click claim gas and it's gonna send it to myself and it's gonna update this number here so now let's show you how do we get this wallet well it's really easy all you have to type is neo like this and then we'll just find the Neo website so we'll look for a neo so neo smart economy right here and I'll put this link down in the description below if you want to check this out and it brings us to the Neo website so you can see there is Chinese symbols here as it was developed in China and there's some different download links here so we have mobile desktop and web so now for desktop we have three different options obviously we have one for Windows and then one for Mac and Windows and Linux and then it's a second client here so we have some different clients and they show what versions they support now the one that I've downloaded here is called neon and that's what I showed you so feel free to download whatever whichever one you like to I recommend this one neon right here so you can click download there if you want to download that and then once you do that it's gonna bring you here so first of all you're gonna have to create a wallet now I've already gone over how to create a wallet for aetherium it's the same idea here for neo you can use a private key you can use a keystore file all that kind of stuff for creating a wallet very simple just follow the instructions on screen and once you've done that you can use your private key to access your wallet here now what's great here is it does actually tell you that you need to update your wallet so I would have to redownload this if I wanted to send any neo or receive any or not receive sorry send any meal out of this account and you can see the amount of neo you have again and the gas so yeah that's pretty much it for this video I just want to talk about really basically what neo is and how you can store your neo because I was kind of wondering myself once I bought the Neo will where do I put it well you can download a neo wallet just from the Neo website right here send it to your public address which is right here your public and your address you can just copy it like that and then it stores in here and actually collects gas which is awesome of you can actually just make money by letting your neo sit in your wallet so that's why you'd want to take it off of an exchange and send it right into a wallet so you can start collecting this gas okay so that's it for this video I hope you enjoyed if you did please like and subscribe and I will see you again another one\n"