Is NEO a Strong Buy at 50 Dollars?

NEO Smart Economy

The ongoing market turmoil has been a real party pooper - destroying all the surrounding hype around cryptocurrencies that was there in 2017. A lot of people have sold their holdings, giving in to fear, uncertainty and doubt (FUD)

If you got into crytpo without understanding the technology, then the drop in prices might have promoted you to sell and that's totally understandable. You don't want to be left holding the bags. There's also no reason for you to hold on to your coins since you have no interest in the technology. 
Every crisis has an opportunity and in this case, it allows you to buy good coins with well thought out use cases and whitepapers at a fraction of the price it was selling at just a few months ago. One such opportunity for me is NEO. 

There are already many articles out there explaining what NEO is and what it aims to achieve, so i'm not going to rehash all that. I'm just going to explain why i think it's worth buying a few at the current price of $55.

NEO Price Charts


Current NEO price

The price of NEO peaked in January 2018, like pretty much the entire crypto market did and had a price that was in the $160 to $180 range. It has come a long way down since then and is hovering at about a third of what it was at the peak.

Historical NEO Price



Some cryptocurrencies may never see the prices seen at the peak of 2018 as there was a lot of fear of missing out (FOMO) back then and a lot of the projects had no substance to back the hype.

There are a ton of projects out there and only the ones with real use cases and adoption will succeed. This is why NEO's best days are ahead. For one, NEO already has many decentralized applications (dApps) running on its network. If you think about the network effect, the more dApps running on the network and the more users that network has, the more valuable the network, and consequently, the coin, is. You can check out the NEO dApp list here: http://ndapp.org 

NEO Marketing

The other big plus for the NEO economy is marketing. If a tree fell in a forest and no one saw it fall, did it fall at all? For NEO at least, a lot of effort is put into marketing and because they have the substance to back it up with, it doesn't come across as vapid shilling. You can check out the event list at https://neo.org/event and see how many events that are out there.   

There are many nice projects but not all of them will be successful and used. Only projects with real use case will have high price of their tokens. This is why I think NEO price will be higher, because NEO already has many DApps on it's platform. You can see at http://ndapp.org/ DApps on NEO. They are working really hard to promote NEO Smart economy and you can see at https://neo.org/event how many events they had to spread a word about it.

GAS Dividends

Another big benefit of buying and holding on to NEO is the dividends in the form of GAS. You get around 5% annually (theoretical). So if you have $10,000, that's $500 annually, assuming that prices remain the same. In practice though, GAS dividends are around 3% now, not too bad compared to what's on offer at the bank over here. You also have potential upside if the price of NEO rebounds.

The good thing about NEO, compared to some of the other staking coins is that you can get the GAS dividends by leaving them on an exchange like Binance or KuCoin instead of running your own wallet on your computer. That being said, you should never leave too much on an Exchange. What's too much? Personally, I wouldn't leave more than 20% of my portfolio on any single Exchange but that's your call to make.   

That's enough NEO for now

I would definitely like to hear your thoughts about the situation in crypto markets right now as well as what you think about NEO. 

I'm not a financial adviser by any means. You need to do your own research when deciding whether to buy any coin mentioned or even stocks/currency in general. 

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