Best Neo Wallets: Top 9 places to Store NEO & NeoGas
Neo is a smart contract blockchain project developed in China. Besides its similarity to Ethereum in being used to develop smart contracts and release digital assets, it also uses two different tokens.
The first is NEO and the second is GAS. Each has a specific use case and one is used to generate another (similar to staking). They both will also need to be stored in a wallet of which there is quite an extensive selection.
In this post, I will take a look at the best Neo wallets which can also be used to store your Gas. I will also give you some top tips when it comes to storing your crypto securely.
NEO vs. GAS
Before we can take a look at all the wallets that you can use, it is important to take a quick look at the difference between the two assets. These two tokens provide different purposes on the blockchain:
- The NEO tokens are representative of ownership of the blockchain in a similar manner to how shares represent ownership of public companies. The NEO tokens are used to secure and manage the network, and as a reward for doing this users receive GAS tokens. Holding NEO in an appropriate wallet automatically begins generating GAS. Every new block generated creates 8 GAS and these are evenly distributed to the 100 million NEO in existence. NEO tokens are not divisible to sizes smaller than 1.
- GAS tokens are utility tokens that allow the use of the NEO blockchain. It is the fuel that powers transactions in the NEO network. Unlike NEO tokens, GAS tokens are divisible .
NEO vs. NeoGas. Image via Steemit
Because GAS has a value it is important to find a wallet that is capable of staking NEO as well as holding both NEO and GAS. Exchange wallets cannot do this, and it isn’t secure to hold your assets at an exchange anyway. And there are several challenges that NEO holders face:
- Users may not know if a wallet supports staking NEO;
- Users may not know if a wallet supports sending, receiving, and holding both NEO and GAS;
- Users may not know if a wallet can be trusted;
- Users simply don’t know which wallet is best to use.
Top 9 Best NEO Wallets
Now that you have a rough idea of how NEO and Gas differ, we can dive into some of the best wallets. In order to come to this selection, we used a number of criteria. These include security, developer and community support and usability.
With that in mind below is a list of 9 of the best NEO wallets that can be used for both NEO and GAS storage, to generate GAS when staking NEO, and are trustworthy.
Ledger Nano S (Hardware Wallet)
Many people call the Ledger nano S the safest wallet available and for good reason. The Ledger company has worked tirelessly to make their hardware wallets as secure as possible for storing all manner of cryptocurrencies.
While NEO isn’t supported by Ledger Live, you can connect wallets like NEON and NeoTracker. This not only keeps the NEO tokens secure, it also allows for claiming GAS tokens in the software wallet. Plus it keeps the NEO tokens far from the grasp of hackers and other bad actors.
Another benefit of this combination is that it becomes impossible to send any of the NEO or GAS from the software wallet unless the person has access to the Ledger hardware wallet. This minimizes the chance of getting hacked and makes it nearly impossible for a hacker to access funds stored this way.
It’s also useful to have a hardware wallet that can accommodate thousands of other tokens, and can store over 30 of them at the same time. This helps to keep an entire portfolio of coins and tokens safe.
And the wallet is quite simple to set up and use, with a single OLED screen to present information, and two physical buttons that need to be pressed simultaneously to complete any transaction, which eliminates the chance of getting hacked.
The only downside to the Ledger hardware wallet is its cost, but that’s been dropping steadily and at a current cost of just $59 the Ledger is a great bargain for securing NEO/GAS and other coins and tokens.
NEO GUI Wallet (Desktop Wallet)
The NEO GUI wallet was developed by the NEO community and is considered the official desktop wallet of the project.
Unlike the command line NEO wallet this one works through a graphical user interface (GUI), making it accessible for everyone. It is a full node wallet, so it needs to download and synchronize the entire blockchain before a user is able to create a new wallet.
NEO GUI v3.0 Screenshot. Image via Neo
Once the full blockchain is downloaded a new password-protected wallet can be created easily, and it can be backed up by importing the private key. Those who are impatient can save the time required to synchronize the blockchain by downloading a copy of already synchronized data and then copying that data directly to the root folder of the wallet client.
This wallet has been perfectly crafted for holding, sending, and receiving both NEO and GAS. Plus it works as a staking wallet, allowing users to generate GAS by holding their NEO in the wallet. The current production version is version 2 of the wallet, but version 3.0 is also available as a beta.
The NEO GUI wallet has support for both English and Chinese languages and is an excellent alternative for those who want an officially sanctioned NEO wallet, but aren’t comfortable or familiar with the command line interface (CLI). This is a wallet that easy to create and just as easy to use.
NEO Tracker Wallet (Web Wallet)
While the wallet generates all the necessary data to operate within the user’s browser, it is important to note that the wallet is actually an offline implementation. This means there is no data transfer to the wallet servers, and the private keys remain solely on the user’s device. This allows the user to maintain complete control over their funds.
NEO Tracker Wallet Overview
The wallet was not created by NEO developers, but it does use best cryptocurrency wallet practices to keep funds secure and has been approved for use by the NEO team.
The wallet is a lite wallet, meaning it does not need to sync fully with the blockchain. When creating the wallet for the first time, a key store file is created which keeps the fully encypted private keys solely on the user’s device.
As you might expect from a web-based wallet, the NEO Tracker wallet is quite easy to create and use. And it is extremely helpful as it allows users to interact fully with the NEO blockchain. In other words users can send, receive and store NEO and GAS, they can claim GAS, they can view their own transaction history, and they can even store other tokens from the NEO blockchain.
NEON Wallet (Desktop Wallet)
The NEON wallet is considered by many of its users to be the best desktop wallet available for storing, sending, and receiving both NEO and GAS. Critically the wallet is useful as a staking wallet, and users will automatically begin receiving GAS when holding NEO tokens in the NEON wallet.
The wallet is also considered very secure as it keeps funds completely within the control of users since the private key for the tokens never leaves the device running the wallet.
The User Interface of the NEON Wallet
As a desktop wallet the NEON is available for Windows, Mac and Linux operating systems. It is considered to be a light wallet since users do not need to download the full blockchain. It is also open-source and the NEO developers have looked at the code and said the NEON wallet is safe to use.
It is also easy to use. Pretty much anyone with a desktop computer should be able to download the wallet and install it. It’s crucial that the software for the wallet only be downloaded from a trusted source in order to avoid any potential malware or software bugs.
Exodus Wallet (Mobile & PC)
This is one of the best third party multicurrency wallets for holding Neo. It has a long security track record and was started all the way back in 2016 and currently supports over 100 additional cryptocurrencies.
In terms of device support, it is available on mobile and desktop devices. There is support for it on Mac, Linux and Windows devices. This wallet actually also has some well known backers in the likes of Roger Ver and Erik Voorhees.
One of the most popular features of the wallet has to be its sleek and simplistic user interface. It is also easy to manage your portfolio and watch all of your positions. Most importantly though, you are in full control of your private keys on the device.
The NEO Wallet on the Exodus
Something else that you will no doubt appreciate about the Exodus wallet is their in-built exchange function. This allows you to swap your NEO and Gas right there in the wallet without having to send your tokens to a centralised exchange. This is through a ShapeShift integration which is a simple non-custodial exchange.
And, speaking of NeoGas, as is the case with the other wallets here, you can earn gas by staking NEO on the Exodus wallet. You will also be happy to know that Exodus is one of the few wallets that offers customer support. They usually take about 2 days to respond to any questions on this.
The Mobile wallet is just as slick and intuitive as the desktop client. There has also been quite a lot of positive feedback from the community on the Mobile Client. If you head on over to the Apple iTunes store or the Google Play store you will see that the product averages close to 5 stars on both - always good to see.
NEO Wallet (Web Wallet)
Users who want a simple solution to storing their NEO and GAS might want to consider the light-weight and intuitive web-based NEO Wallet.
As you might guess from a web-based wallet it is designed with a simple user-interface and is meant for ease of use. Both seasoned cryptocurrency users and beginners to the space will find the NEO Wallet a breeze to setup and use.
The wallet was developed by the NEO community, and one of the overriding principles in its development was security. That means everything stored or sent by the wallet is encrypted by default, making this one of the more secure options to consider when looking for a NEO wallet.
Simple Web Interface of Neo Wallet
The wallet keys remain securely on the user’s device, and there is no information or data passed to the wallet servers at any time. In addition to security it was also designed to be light and fast, with ease of use as a key feature.
Naturally the NEO Wallet can also be backed up to further ensure the safety of funds. And NEO tokens can be staked so that GAS tokens are automatically claimed and swept into the wallet. The wallet is also multi-lingual, with support for both English and Chinese. For those who want a simple way to hold and stake NEO this is an ideal solution.
Atomic Wallet (Mobile & Desktop)
Another third party multicurrency wallet that seems to get a lot of coverage these days is that of the Atomic Wallet. This is supported on both Mobile and Desktop and can hold over 500 different cryptocurrencies including NEO and NeoGas.
As is the case with the Exodus wallet, this is non custodial and you have full control over your private keys. It also has an in-built exchange function and you can use either ShapeShift, Changelly or ChangeNOW to swap your NEO right there on the wallet.
The wallet itself though is really user friendly and is one of the go-to multicurrency wallets for those that are just entering the crypto waters. You can easily toggle between the various features on the left and have a full breakdown of your broader crypto portfolio in the main screen.
Desktop and Mobile Interface of Atomic Wallet
Something else that you may find handy about the Atomic Wallet is that you can easily buy crypto right from within the wallet. If you do not already have Neo then you can whip out your card and buy it there. Do take note though that the fees are really quite high as they are using a third party payment processor.
The mobile wallet is listed in both the iTunes store and Google Play. It is rated at 4.6 in the former and 4.4 in the latter. What is quite encouraging about this is even in those cases where users had a problem with the wallet, their support team was quick to follow up with a reply.
If you checkout their website you will also notice that they have some pretty well known backers including the likes of Konstantin Gladych. For those that don't know, he is the founder of Changelly.com which is another really well known non-custodial cryptocurrency exchange.
O3 NEO Wallet (Desktop/Mobile Wallet)
The O3 wallet is the one for those who need to keep their NEO with them while on the go. This is a multi-platform wallet, with a desktop option for Windows and MacOS users, as well as a mobile option for both the Android and iOS mobile operating systems.
It’s a highly rated NEO wallet, and has received much praise from mobile app users. Plus the wallet is open source, meaning the programming code can be viewed by anyone, ensuring there are no malicious activities being carried out by the wallet.
The wallet provides complete encryption for users private keys, and as long as user devices are secure and malware free before installing the wallet they can be sure that funds are secured.
Besides the practical features, the wallet also has a simple and intuitive user interface, which allows users to store and manage their tokens easily. In addition to accommodating the storage of NEO and NEP-5 tokens it also supports the Ontology network.
Plus users are able to claim their GAS and ONG rewards automatically in the wallet. It is a great wallet for beginners and experienced cryptocurrency users looking for a mobile wallet solution.
ANSY Wallet (Paper Wallet)
One final option for NEO holders is the storage of assets in a basic paper wallet. The paper wallet is little more than a physical piece of paper that has the public and private addresses printed on it.
The public address gives users a way to have NEO sent to the wallet, while the private address gives them a way to send NEO tokens or to spend them. With the paper wallet the keys remain forever offline, which enhances the security of this type of wallet.
There are several downsides to the paper wallet. One is the threat of physical damage to the paper. The paper wallet must be kept secure from damage by fire and water, or even from simple tearing of the paper. Most experts recommend storing several copies of the paper wallet in safe locations in case of damage to one or more.
Generating a Paper Wallet to Print
The other downside is that users are unable to claim GAS tokens from the NEO stored in a paper wallet. This is the only wallet in our list that does not support the automatic collection of GAS for staked NEO. One final downside is that the wallet is currently only available in English.
The best feature of the ANSY paper wallet is that the user remains in full control of the keys and the coins. As long as the paper is kept safe and secure there is no way for a hacker to access the funds, since they remain fully offline at all times.
There have been cases where users would store their NEO in wallets where they weren’t able to claim the GAS rewards, or they simply didn’t even know if the wallet would generate GAS.
There were other times when users weren’t aware if they could send and receive both NEO and GAS, or they might struggle to recognize when a wallet is legitimate or not.
Hopefully the list above will do away with any of these struggles, letting everyone know which wallets are safe and secure, and which ones support storage, sending, and receiving both NEO and GAS, as well as GAS generation.
Which wallet you choose will really depend on your own personal preferences. You can't really beat the security of a hardware wallet like the Ledger. However, provided that you take the right precautions then one of the desktop or mobile wallets could be a good alternative.
Whichever wallet you do choose to use, make sure that you are practicing wallet security 101. Keep backups of your seeds and store them in a secure location. If you are using a desktop wallet then don't download any suspicious attachments.
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Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.