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Ants in the pants - Jumping the gun with my NEOS coin purchase.

If you've been following my portfolio you may have noticed that I purchased a lot of NEOS coin recently.  It actually has been doing extremely well the past few months and has done well for me.

Well, the thing is, I didn't really mean to buy NEOS, I meant to buy NEO.  The names are very similar but they are two totally different coins, totally unrelated to each other.

Neo, the coin I meant to buy, is the re-branded name of the coin called ANTShares (ANS).  ANS has been on a tear lately.  ANS is a very big coin in China. They call it the Chinese version of Ethereum because just like Ethereum it is a publicly accessible open source blockchain.  Just like Ethereum you can deploy smart contracts on ANT and create your own coins.  I have high expectations for ANS, so I'm trying to load up on it, as is everyone else.

What is really interesting about ANS is that if you own the ANS coin you get paid dividends in the form of ANT coins.  Note that one is AntShares (ANS) and the other is AntCoin (ANC).  If you own ANS you get dividends in the form of ANC.  Think of it as owning shares in a company (ANS) and getting paid dividends (ANC).

Two things make this all the more confusing.  Not all exchanges carry ANS and ANC.  Additionally, they are in the process of changing the name from AntShares and AntCoins to NeoShares and NeoCoin.

The 2 "Neo" coins are not carried by Poloniex, but NEOS coin is.  That's where I made my mistake.  Lucky for me, NEOS coin has been performing great and in fact I plan on holding on to a little of it.  It might only be performing so well because other people are making the same mistake I did.  When they figure it out, NEOS may crash - then again maybe it won't because NEOS has a pretty good product too.  Just search on Neos Coin to see for yourself.

So, I sold most of my NEOS coin on Poloniex, moved that BTC over to Bittrex, and bought several thousand Ant Shares with it (yes, it is still called "Ant" on Bittrex).  Now that I have my coins (shares), in the right place, we'll see how it does.  Even at it's current price of about $7.50 per coin, I'd still give it a strong "Buy".  It's even a stronger buy if it falls back to the 0.0018 BTC range.

Comments

  1. neowebwalletNovember 22, 2017 at 4:30 AM

    NEO is the use of blockchain technology and digital identity to digitize assets, the use of smart contracts for digital assets to be self-managed, to achieve "smart economy" with a distributed network.
    neo web wallet

    ReplyDelete
  2. UnknownMay 1, 2018 at 11:13 PM

    Nice Blog. NEO tokens represent the ownership of the NEO blockchain. They are used to create blocks and manage the network, and when you hold NEO in your wallet you’ll be rewarded with GAS tokens. For More information visit: NeonBeginner

    ReplyDelete

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