How do you buy NEO?

Could you elaborate on the process of purchasing NEO? As a cryptocurrency enthusiast, I'm keen to understand the steps involved in acquiring this particular digital asset. Do I need to have a specific wallet? Are there specific exchanges that support NEO trading? Are there any regulatory considerations I should be aware of? Moreover, what are the key factors I should consider before making this investment? I'd appreciate a detailed breakdown of the entire process from start to finish, as I'm looking to diversify my portfolio with this emerging digital currency.