NEO was initially launched as Antshares in 2014 by Erik Zhang and Da HongFei. The application was rebranded to NEO in 2017 and, since then, has aimed to build a smart economy by using smart contracts and blockchain technology. The cryptocurrency works on a decentralised open-source blockchain which uses a Proof of Stake mechanism to carry out transactions. 

Cryptocurrency is a great investment, and you can easily convert your tokens to traditional money using any of the methods discussed below.

Use NEO Cryptocurrency Exchanges
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Use NEO Cryptocurrency Exchanges

One of the most common ways to exchange your NEO tokens for fiat currency is by using a cryptocurrency exchange. Most cryptocurrency exchanges work similarly, so follow these steps to complete the process of exchanging your tokens for traditional money:

  • Create an account on the cryptocurrency exchange of your choice. 
  • Next, link your bank account to this account.
  • Transfer your tokens from your crypto wallet to the account on the cryptocurrency exchange.
  • Select the fiat currency you wish to exchange your tokens for. 
  • Once the transaction is processed, the due amount will be reflected in your account. 
Sell NEO to Another Person
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Sell NEO to Another Person

Another easy way to exchange your NEO tokens for traditional money is by selling your tokens to another person. Broadly speaking, there are two types of platforms you can use to sell your tokens to another person.

P2P platforms make it possible for people to conduct transactions with others directly. There are no intermediaries involved in these transactions. Instead, the buyer directly contacts the seller and makes the deal. Once the deal is confirmed, enter the buyer’s crypto wallet address and transfer the tokens. In return, the buyer will pay you the due amount, which will be credited to your account. 

Brokerages are platforms which employ a third-party institution to overlook their transactions. A broker looks at the transaction details, selects the buyer and decides on a good time to sell the tokens. So, you don’t need to worry about anything regarding the transaction. You just have to pay a brokerage fee for using their service.

Use NEO ATMs
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Use NEO ATMs

Using cryptocurrency ATMs is an increasingly popular method of converting your cryptocurrency tokens into fiat currency. They allow users to buy and sell their tokens for traditional money. Yet, there are no NEO ATMs at the moment of writing this article. 

FAQ

Can I exchange my NEO coins for traditional currency?

Yes, you can exchange your NEO tokens for traditional money by using cryptocurrency exchanges or selling your tokens to another person. 

How do I sell my NEO tokens to another person?

Two kinds of platforms allow you to sell your tokens to another person: P2P and brokerage platforms.

Are NEO tokens limited in number?

Yes, NEO tokens have a limited supply. The maximum number of tokens is fixed at 100,000,000. 

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