GAS Coin is the native cryptocurrency of the NEO blockchain and is used for transaction fees within the network. A similar system of gas exists in the Ethereum network for transaction fees, and the name GAS Coin likely comes from there. NEO is often referred to as China’s Ethereum, and this similarity strengthens that notion. Transactions on the NEO network can be completed quickly thanks to GAS Coin, and users can choose different amounts of GAS to accelerate their transactions.
GAS maintains sustainability through constant use by NEO investors, reaching a fundamental economic model. Similar to NEO, a cryptocurrency, GAS is used within the NEO network solely for transactions, but like cryptocurrencies that perform similar functions on the Ethereum network, it has reached different uses by being listed on exchanges. Leveraged transactions on GAS can be opened or spot purchases can be made, however, it should not be forgotten that the success of GAS Coin is completely dependent on the NEO network.
The price of GAS Coin reached an all-time high on January 15, 2018, climbing up to $1.54. Despite reaching millions of dollars in trading volume, GAS Coin is still behind its all-time price record. This situation is directly related to developments in the NEO network. Significant developments in the Ethereum network increase the demand for similar tokens with rising transaction fees, while a period of stagnation in the NEO network is a disadvantage for GAS Coin.
To purchase GAS Coin, one can use Binance, which is the world’s largest cryptocurrency exchange. Binance can be considered the most liquid and secure exchange for the hundreds of cryptocurrencies listed. The significant price increase of GAS Coin after being listed on Binance demonstrates this. Being listed on Binance means significant volume for many cryptocurrencies.
To purchase GAS Coin via Binance, you need to have a certain fiat/crypto balance on the exchange or add to your balance. After sending Tether (USDT), select the “Buy-Sell” option in the upper left corner. In the section that opens, type GAS in the search button and proceed on the GAS/USDT trading pair, enter the amount you want, and complete your purchase of GAS successfully.