Quick summary: Our recommendation is to use eToro to short NEO. They have the most popular cryptocurrencies on offer, great support, and have an easy system for shorting cryptocurrencies in general.

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NEO

While there are a lot of options out there for buying NEO, shorting is a different story. Luckily for us here in Australia, we do have a few crypto brokers and exchanges that allow for CFDs and shorting.

One of those brokers is eToro, which we’ll be using for this guide. Let’s get started!

How to Short NEO in Australia

A quick recap first on what shorting actually is: The main objective of shorting or short selling is to make a profit (of course). The idea is to sell a stock/cryptocurrency hoping it will drop in value so you can buy it back later for cheaper, thus creating a net profit.

Shorting NEO can be done in 4 easy steps:

  1. Choose a crypto broker or exchange
  2. Create an account
  3. Fund your account
  4. Short NEO

1. Choose a cryptocurrency exchange

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other crypto broker to follow along, they all work very similarly.

2. Create an account on the cryptocurrency trading platform

Let’s start with just signing up with eToro.

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The sign-up process is very easy, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your account

Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short NEO

Now for the actual shorting:

  • Starting off at the search bar at the top, find NEO by entering the name or symbol.
  • Then on the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  • At the top of the trading interface: Click on sell to short sell the stock.
  • Enter the amount for which you want to sell NEO and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of NEO has dropped, go to your Portfolio, find the NEO trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short NEO!

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Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

Where to Short NEO (NEO)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more complex compared to eToro, they do have more cryptocurrencies on offer.

Frequently Asked Questions

Can I short NEO on Binance?

Yes, you can short NEO on Binance. They have over 300 cryptocurrencies on offer and specialise in the crypto market. They also have a great app and competitive fees.

About NEO

NEO, also known as Antshares and China's first open-source blockchain, is the next generation platform for smart economics. It was created in 2014 and is sometimes called the "Ethereum of China".

NEO employs smart economy to implement its distributed networking concept. Its primary goal is to digitize assets via the decentralized network that uses blockchain technology and digital identities.

Neo's principal goal is to be a distributed network that supports "smart economies". According to their website, "Digital Assets +Digital Identity + Smart Contract = Smart Economics." Neo was developed in Shanghai by blockchain R&D company OnChain. It was funded through two crowdsales. On October 2015, 17.5 million NEO tokens were sold for $550,000. On October 2015, the second crowdsale brought the remaining 22.5 millions NEO tokens to $4.5 million.

The NEO platform provides a unique way to identify and register assets. This allows tangible assets, such as real estate, company stock, and even fiat money, to be digitalized, traded on the NEO network, and thus creates a new economic system.

Its digital identification system allows for seamless integration between the platform, real world economy and it. It offers custom digital identity standards that allow for the creation electronic identity data for individuals and entities. These electronic systems are multi-layered authentication models that use facial and voice recognition, as well as fingerprints.

All digital assets on the platform are protected by digital certificates that are stored on its public blockchain. This creates trust because the system keeps an unalterable and indestructible record of all assets.

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