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6296254 No.6296254 [Reply] [Original]

If I want to send 10 NEO from a NEON wallet, do I have to have some GAS in my wallet for fee?

Or can I just have 10.1 NEO in my wallet and then use the remaining 0.1 NEO for TX fee?

Pls help. I'm new to NEO.

>> No.6296344

you cant divide neo, neo is only in whole numbers, exchanges are based on credit so you can divide them there, and if i remember correctly neo transactions are free so you should be fine anon, just remember u can only withdraw whole neo and there will be no fee to withdraw to neon

>> No.6296434

>>6296344
Oh yes I remember that. I forgot that NEO can't be divided.

So I can transfer NEO from and to wallets/exchanges with 0 fee? I thought GAS was there to be used for fee, like we use gwei to transfer ETH.

>> No.6296548
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6296548

>>6296344
>neo transactions are free
what is GAS for then?

>> No.6296582

>>6296434
gwei is a subdivision of ethereum as satoshi is bitcoin correct? and neo's GAS is supposed to be used for the app creators, potentially if transferring neo costs gas then withdrawls would be paid by the exchanges? ive withdrawn numerous times with literally 0 fees so

>> No.6296612

>>6296548
GAS is for running DApps on NEO platform

>> No.6296636
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6296636

>>6296434
No tx fees for NEO. NEO is the GovernanceToken, whereas GAS is the UtilityToken (e.g. ethereum). The NEO platform is like ETH, but uses a separate token for governance (rather than pow/pos)

>> No.6296798

>>6296582
Correct.

I see. So NEO has 0 fee for transfer/withdrawal or anything to do with moving NEO? That's great.

>>6296636
Thanks for the explanation, anon!

So I'll just need to send 10 NEO from binance to my NEON wallet. And then send that 10 NEO again from my wallet to participate in TKY ICO. And all of these TXs require zero fee?

>> No.6296949

>>6296548
Deploying smart contracts/registering assets. Also transactions wont always be free, and you need a drop of gas to send nep-5 tokens out of wallet.

>> No.6297156

>>6296798
I don't want to speak to the ICO because I don't know how it is operating, but if that's what they want then yes that's all you need to do. Some exchanges (e.g. Bittrex) have withdrawal fees (not tx fees) for NEO, but I know Binance and Cryptopia don't.

>> No.6297205

is there anything wrong with leaving my NEO in my kucoin? or should i store it in my NEO wallet?

>> No.6297262

>>6297205
Of kucoin gets hacked/exit scams u lose your coins

>> No.6297301

>>6297205
Just move it to Neon, it's almost instant and you can just accumulate gas in one place

>> No.6297351
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6297351

>>6297205
Is there anything wrong with keeping it in your own wallet where you actually own your NEO? At least Kucoin gives gas unlike some exchanges
*coughbittrexcough*