Staking NEO to earn GAS

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staking-neo-for-gas-image

Staking NEO to earn GAS.

In this article we will explain how holders of the cryptocurrency NEO can be staking NEO to earn GAS. They need to hold their NEO coins in a Neon Wallet that can be downloaded here. With Staking NEO you can earn GAS, which means that you are earning a “passive income.”

GAS will be a sort of dividend which will be payed out to holders of the NEO coins, if they are held in a private wallet and not on a public exchange. The only Exchange that I know right now will be Binance. 

GAS is paid to the blockchain network by Applications for consuming processing recources. The more processing power they will consume from the blockchain network, the more gas they will have to pay to the blockchain network.

 

NEON Wallet

The new NEON Wallet will store your NEO coins plus it will “stake” the coins for you. The NEON wallet can be used with a Ledger Nano S. 

NEON Wallet

Staking is the process that generates ‘GAS’ coins, which are used to fuel transactions. In short, everyone will earn GAS just for having NEO in their private wallets! The price of GAS is currently around $35 U.S. Dollars

Click here for the latest price

How Much GAS will be generated depends on how much NEO coins you will hold inside your private wallet.

Here is a calculator, to calculate how much GAS you can earn.

 

Can GAS be Sold?

Yes, GAS can be sold. Therefor you will have to transfer it to an exchange which supports GAS and you will be able to convert it into BTC.

I personally choose to hold my GAS right now as I believe that NEO will see a significant growth in 2018, the demand for NEO will grow, so will the demand for GAS. There will only be a finite amount of gas produced so the price of GAS will rise over time.

 

 

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