Neo + Gas
Neo is an interesting currency. In fact, the “Chinese Ethereum” like people are calling it comes with a cool bonus which is adding more value to your investment. “Gas” is what you get for free when you own NEOs.
What is Gas?
Let’s make it simple. In the real world, Gas is the fuel cars need to function. Also, Gas is “almost” unlimited in the sense that we can always produce more as we need it.
In the cryptocurrency world, the idea is basically the same. Gas is what is being paid to the blockchain to consume resources. Applications running on the blockchain can be seen as cars and as such, they need to pay gas. The more processing power these applications consume, the more gas they’ll need to pay.
GAS Price and limitation
Neo-Gas has a price. Also, the supply is limited. According to Coinmarketcap, there is 11,163,816 GAS available. Obviously, the value will rise over time because of its rarity.
It is interesting to note that the price of GAS follows NEO’s ups and downs.
How to get GAS for free?
This is where the Neon wallet is needed. Neon is the software that is designed to keep your NEOs safe on your computer.
Here are the steps:
- 1. Install and setup Neon on your computer
- 2. Transfer your NEOs from your exchange market to Neon.
- Make sure you’re sending a whole number of NEOs to your Neon wallet. NEOs are shares and as such are not divisible. For example, don’t try to send 1.56 NEOs from your exchange market to Neon. Any fractions will be discarded and you’ll end up with only 1 Neo.
- Make sure you’re withdrawing to the right address.
- Save your credentials in a safe place.
You have nothing else to do in order your free GAS. The more NEOs you have, the more GAS you can claim.
It takes about a month to get 1.3 GAS with 100 NEOs so be patient.
How to use neon video: