The world of digital currencies keeps on expanding, and while new ones are being introduced, you’ll also find old ones reinforced with better features and improved functionalities, like Neo. This is a crypto that was first launched under a different name, and had a few bumps in the road but was relaunched stronger than ever, offering the most cost-efficient, effortless and speediest transactions you’ve ever seen. It is a direct competitor to Ethereum, one of the world’s best cryptocurrencies, and it works on its smart contracts, so you can only imagine the perks you could get using it. What is Neo and why choose it to make deposits and withdrawals with it across Canadian casinos?
About Neo
As introduced, when it was first launched, this digital currency was known as Antshares. Two guys, with a powerful background in the crypto scene, Da Hongfei and Eric Zhang, launched it in 2014 with the aim to offer the most incredible digital asset management system, using the most useful blockchain tech implementation and smart contracts which were first introduced by Ethereum.
However, it had a few bumps in the road, as explained, and it disappeared from the scene for a while. When it made a comeback, it was better than ever. It started offering way more improved features, becoming one of the most attractive digital assets traded by crypto enthusiasts all over the world.
Based on a proof-of-stake protocol and using Byzantine mechanics, the crypto is incredibly safe to use, even though decentralized like any other. It was created with the aim to facilitate the job of developers regarding the launch and use of smart contract apps on the chain. And while this might not be exciting to you as an online casino player, if a crypto developer, you’d be psyched to hear about it.
Nevertheless, it runs on its own blockchain that works on Ethereum’s smart contracts. If you’re unfamiliar with these, smart contracts are like deals you make with a party, where one of you pays for and the other one provides a certain service. Once both of you have done your share of the deal, fueled by the native token Neo, the transaction is successful. The process, fueled by the token, creates GAS tokens in an instant, which are essentially the fuel fees like the ones charged for Ethereum transactions, called “gas fees”. So, gas fees apply when transacting with Neo, too, and we’ll elaborate more on them later. But, you should know right away, this digital asset is one of the most cost-efficient there is.
The crypto, however, is yet to reach its peak. If interested in investing in crypto, this is the one to go with, therefore, to be at the front rows when you see it reach the spotlight. Meanwhile, you can use the coins you possess to make deposits with it across Canadian online casinos. While it is still not offered across too many casinos, there are a decent number of sites that already offer it. So, if interested in getting started with it, continue reading to find out how.
Getting Started with the Solution
Considering Neo is a direct competitor to Ethereum, since not only it works in a similar way to it, but also offers improved features, you’d find it interesting that getting started with it would be a bit of a difficult task since it is not offered across the top exchange platforms as most cryptocurrencies. While you’ll find Ethereum, Bitcoin, Litecoin and Bitcoin Cash on top exchanges, Neo can be traded on Binance only, and a few other platforms, but not all.
So, say, you decide to go with Binance, since this is one of the best exchanges that offer the token. You’d need to create an account with it by pressing the Sign Up button and entering your personal details. Once your account has been created, proceed to link a payment method to it, be it an eWallet, a credit card or any other option available on the platform.
The next step would be purchasing your coins. You can do that using the mentioned payment methods and some of the world’s most-used fiat currencies, like Canadian dollars. Once you have your coins, you’d want to store them. Create an account with a crypto wallet, get your public and private keys and store your coins. You have plenty of crypto wallet options to explore, so stick with the one that offers the best terms. And finally, once everything is in order, you can start transacting with your newly-bought coins.
Depositing and Withdrawing
As said, you won’t find Neo across too many online casinos, because it is yet to reach its peak. Luckily for you, there are enough decent Canadian casinos that offer it, such as the following, listed and reviewed here at casinoreports.ca, Casinos Dazard Casino, FairSpin, and LynxBet Casino. Explore other options if you want, or go with one of these; your choice. Create an account with the chosen casino and you’ll be ready to start depositing.
To make a deposit with Neo, you’d need to do the following:
- Go to the casino’s Banking/Deposits page.
- From the list of offered methods, press Neo’s logo.
- In the pop-up, the casino’s address will be displayed; you need to copy it.
- You’ll be redirected to a page where you’d need to log into your crypto wallet.
- Specify the amount you’d wish to deposit and paste the casino’s address.
- Confirm the transaction by pressing Send and the coins will arrive instantly on your casino balance.
Withdrawals are as easy, and pretty much done the same way. Only this time, in the designated fields, you’d need to paste your wallet address and tell the casino how much you’d want to withdraw. The operator will review your request and if all is in order, approve it and send your coins back to your crypto wallet.
Applicable Fees
The gas fees we mentioned are charged for each transaction you make with Neo, but these are only a tiny fraction of the entire amount, so you’ll barely notice them.
You should be aware, though, that exchange platforms also charge fees for buying/selling crypto. That’s why before you decide on the exchange to go with, make sure you discover more about the fees involved.
Accepted Currencies
First of all, you should know that, even though you can purchase Neo with Canadian dollars and many other mainstream currencies like US dollars, UK pounds, Australian dollars and euros, you can also trade it for a different cryptocurrency you might own.
If you’re holding Dogecoin, Bitcoin Cash, Ethereum or Bitcoin coins, you can easily trade them for some Neo coins. So, you can purchase them with crypto, too, with no effort.
Coverage
Neo is, of course, a global cryptocurrency of decentralized nature, with no one to oversee the transactions you’re making with it. It can freely be used by anyone from a country where crypto is legal and allowed for transactions, Canada, Malta, Finland and Germany being some such countries.
But since there’s a regulatory framework bringing drastic changes to the crypto gambling industry, and there are countries like Turkey or Russia, where crypto transactions, and online gambling for that matter, are strictly forbidden or banned, players from such countries should opt in for another way of playing online casino games.
Customer Support
Considering this is a decentralized crypto, as you’d assume, no Customer Support is offered. There is, however, an official website run by the communities, where you could learn how to get started with it, use it and how it really works.
If you’re still in need of a human touch, you’d need to get in contact with the casino’s Customer Support team. Casinos usually offer really friendly and trained agents who are there to help players out with anything, from getting started to withdrawing with a payment solution. Any payment solution, including cryptocurrencies. So, if you’re having difficulties with your deposits or withdrawals, make sure you contact the team, via any of the available communication means, be it Chat, phone or email. They’d be happy to respond the moment they can.
Conclusion
As a Canadian player, you should have no doubts regarding whether or not to try Neo. This is a solution that is perfectly allowed and encouraged to use in your country. Not only that, but this crypto is offered across a decent number of Canadian casinos, for both deposits and withdrawals, and cost-efficient ones! If you’re a crypto enthusiast or developer, you’ll be amazed by the things it has to offer, which could not be possibly covered here, but you’d need to visit the official website to find out more.
Nevertheless, this is a super-easy to get started with, a super-fast and safe cryptocurrency that comes with low fees that you should seriously consider investing in and using across Canadian online casinos.
FAQs
Sure thing. When you visit the official website, you’ll see that you could get in touch with the community via Telegram, Facebook and Twitter.
The site is available in Chinese and English only; these are the two navigating languages, so you won’t be able to explore the site in French.
No. As you would assume, considering transactions with all cryptocurrencies are irreversible, due to their decentralized nature, transactions with this crypto are not reversible. This is a digital asset, like any other, with no one to oversee or regulate the transactions, so no one to reverse them either. Once the transaction has been approved and sent, there’s no way of getting it back.
No limits apply on its part. Limits do apply, however, for deposits and withdrawals across online casinos. Due to online gambling regulations, to prevent problem gambling, transactions across online casinos with all methods are limited, not only with cryptocurrencies. So, before you decide on the casino to go with, make sure you check these limits to see whether you’re okay with them.
Of course, it does. Again, since this is a digital asset like any other, its value fluctuates by the minute, so before you decide to invest in it, make sure you observe the market for a while. Purchase your coins at the best price, and rest assured, the crypto is yet to reach its peak, so it is a good investment at the moment.
