- Are you a fan of smart passive online income?
- Do you like your money to grow while you are sleeping?
- Are you curious enough to know about such legit ways of making money?
If your answer to any of the above questions is Yes, this article is apt for you.
It was not as easy to be at the receiving end of passive income while you were asleep before the crypto-mania hit the world. However, with us in the midst of the crypto mania, it is a living reality.
One of the ways of receiving passive income is by HODLing good cryptocurrencies that give you regular dividends just for holding on to them.
I have already written about such cryptocurrencies previously, the link to which is below:
In the aforementioned article, I have talked about NEO, a cryptocurrency that pays you regular dividends in the form of NeoGAS for holding the NEO currency. But in that article, I deliberately did not reveal how to claim your NeoGAS dividends because I wanted to share that with you in a dedicated, detailed article.
And that’s why here I am today – to share how to claim GAS dividends for holding your NEO coins.
How To Claim GAS On NEO?
There are a few popular yet safe ways to claim GAS on NEO which I am going to share with you. You can claim your GAS on exchanges, hardware wallets, and software wallets.
1. NEON Wallet With Ledger Nano S
NEON is a popular NEO wallet developed by an independent team of developers that go by the name City-of-Zion.
Recently, the Ledger Nano S also started supporting NEO cryptocurrency via the GUI interface of the NEON wallet which looks like a smart move by the NEO team to help users secure their NEO in a rather robust way.
Once you have your NEO on Ledger, it is rather simple to claim your GAS by connecting your Ledger device with the NEON wallet. Here is a short video by Harsh that will help you connect your Ledger with the NEON wallet and also tell you how to claim your free GAS.
How To Use Neo Wallet on Ledger Nano S With GAS Claim Feature
To get started:
- Connect Ledger wallet to your computer
- Open Ledger manager chrome app
- Install NEO app on Ledger by clicking on Installation button in front of NEO wallet on Ledger manager app
- You need to confirm installation on your ledger wallet by clicking on the right button
- Now, Download Neon Wallet for your OS and install it
- Click on NEO icon on Ledger wallet and it should show Wake up, NEO
- Open NEON Wallet and select the option that says login using a Ledger
- On the next screen, you will see the message that says “Found USB Ledger Nano S Success. NEO App Found on Hardware Device. Click Button Above to Login”
- Click on Use Ledger Nano S and from here you will be able to access NEON wallet.
- Even when you claim GAS or do any kind of transactions which require you to send NEO or GAS, you need to authorize it from Ledger Nano S. This feature makes keeping your NEO and GAS secure.
From now on whenever you need to access your NEO or GAS, you just need to open the NEON wallet and log in using Ledger. Being a long time user of Ledger and holding some NEO, I heartily welcome this move.
2. NEON Wallet Without Ledger Nano S
- What to do if you don’t have a Ledger Nano S to claim your Neo GAS?
Well, in that case, you can claim your GAS directly from the NEON wallet. For this, you need to keep your NEO in the NEON wallet for at least some time.
Once, you have kept your NEO in the NEON wallet, you will see your GAS is being built-up in the app which you can claim anytime later.
As a general approximate rule, roughly 1 GAS token is generated if you hold 100 NEO for a month in a wallet like NEON.
If you are new to the NEON wallet, use my detailed step by step guide on the NEON wallet. However, if you are already using NEON, follow the steps below to claim your GAS on the NEON wallet.
- Log in to your wallet and check if you have GAS to be claimed.
- If you have sufficient GAS build up automatically, you may see something like this:
- In the wallet, the green button reads ‘Claim X Gas’. To claim, simply click the button, sit back, and relax for the back-end magic to happen.
- Once claimed you will be able to see your updated free GAS balance.
3. Claim NEO GAS On Exchanges like Binance and KuCoin
Another way of claiming your free GAS is via exchanges that support NeoGAS.
However, this method is not recommended for security reasons. That is because centralized exchanges are susceptible to hacks and you should use this method only if you plan on storing your NEO on an exchange temporarily.
Therefore, it is better to hold your NEO on an exchange that gives you free NeoGAS because exchanges like Bittrex, HitBTC etc don’t reward you with GAS even if you are holding your NEO on these exchanges.
The exchange that allow you to claim your NEO GAS is:
To claim your GAS on these exchanges, you are not required to do much as GAS will appear in your exchange wallets on a daily basis if you are on KuCoin and on a monthly basis on Binance.
Both these exchanges are good for trading but I don’t recommend keeping your NEO on them for longer periods considering hardware wallets like Ledger Nano S are better and safer to secure your coins.
Conclusion: Gas Claim Process of NEO
Having NEO is a smart way to earn your regular dividends in the form of GAS, a cryptocurrency token that has performed exceptionally well in the recent past.
At the time of writing, each GAS token is trading at $53 which is a decent amount to gain for just holding on to your NEO coins.
The methods listed above are the easiest ways to claim your NeoGAS. There are some NEO wallets that require you to send your NEO coins to yourself manually for claiming the free GAS tokens which also adds the risk of losing your NEO coins if you enter the wrong sending address.
Therefore, if you want to safely claim your GAS, it is recommended that you use a NEON wallet. If you want added security, use the NEON wallet with Ledger Nano S to claim your GAS in the safest, most secure way.
Once you start using the pair of Ledger Nano and the NEON wallet, do share your experience with me in the comment section below.
That’s it for now. I hope you liked this article.
Here are a few hand-picked articles you should read next:
- NEO vs. Ethereum: How Is Neo Different Than Ethereum?
- Bitcoin Wallets That Support Custom Transaction Fees
- Best Ways To Buy Bitcoins Without ID (How To Buy Bitcoins Anonymously)
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Harsh Agrawal is the Crypto exchange and bots expert for CoinSutra. He founded CoinSutra in 2016, and one of the industry’s most regarded professional blogger in the fin-tech space.
An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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