How to Buy Nano
Nano is a form of cryptocurrency that aims to offer the same benefits as Bitcoin, but attempts to address the issues that Bitcoin faces. The developers of Nano coin hope that is will become a more viable and efficient solution to fiat currencies.
By using its own block-lattice structure, Nano intends to improve the downsides of Bitcoin. It states that there will be no fees for transactions, and that transactions will be completed in real time without less energy consumption.
What is Nano?
While the popularity of cryptocurrencies has soared in recent years, there are definite issues that plague the most popular forms of digital currencies, including Bitcoin (BTC) and Ethereum (ETH). Namely, they aren’t scalable, as they require a great deal of energy, which slows down transaction speeds, and transaction fees are high.
Because of these issues, cryptocurrencies aren’t as widely used as they should be. The developers of Nano intend to solve the above-mentioned problems that plague BTC and ETH. They offer an alternative option that is backed by a vetted and tested model of the blockchain, referred to as the block lattice.
On the block lattice structure, each node is assigned its own blockchain, which spreads the work and processing throughout the network. This not only increases the speed of transactions, but it also reduces the cost of transactions, as it costs virtually nothing to execute these individual chains.
As a result, Nano charges zero fees and instant transactions, which creates a highly scalable form of cryptocurrency. The developers of Nano claim that their goal is to be the solution to the scalability problems that so many have been experiencing with cryptocurrency.
As stated, Nano works on a block lattice structure. This structure allows the blockchain of every account to only authorize work on its own block; not blocks that are created by other users. As a result, every account chain on the block lattice can update instantaneously and synch up to the rest of the block lattice, allowing for transactions that take place almost immediately.
Every users account on the Nano platform is given its own blockchain. These blochcians are a part of a bigger directed acyclic graph. As such, the whole chain doesn’t need to update with each interaction; instead, each independent blockchain updates when it needs to. This frees up a tremendous amount of processing power.
Every user on the Nano network offers the computational power that is needed in order to verify their own transactions. In other words, the entire network does not need to be update the whole blockchain ledger when transactions are made.
Where to Buy Nano
Nano tokens can be purchased on several popular online cryptocurrency exchange platforms. Some of the available options include:
- Coin Direct
Nano can also be purchased with fiat currencies on Changelly.
Why Buy Nano?
As mentioned, Nano intends to provide a solution for the scalability issues that exist with many of the more popular forms of cryptocurrency, including Bitcoin and Ethereum. It aims to improve the speed of transactions and reduce the fees that are associated with transactions by making transactions completely free.
Due to the improved scalability that Nano is projected to offer, it is believed that the value of Nano coins will increase significantly, making it a sound investment. Add to that the fact that transactions will be much faster and there will be no fees associated with transactions and it is certainly a viable investment.
How to Sell Nano
Nano coins can be sold for other types of cryptocurrency. It can also be sold for fiat currencies, in exchange for more widely accepted forms of digital tokens, such as Ethereum and Bitcoin. If you would like to sell Nano for fiat currency, such as the US dollar or Euros, follow these steps:
- Create an account on altcoin exchange
- Fund your altcoin account with Nano tokens
- Sell Nano tokens for ETH or BTC
- Sell ETH or BTC for a fiat currency
- Withdraw the fiat currency from your altcoin exchange account and deposit it into your bank account
Which Wallets Can I Use for Nano?
Currently, there are two online wallets available for Nano coins, including:
- Nano Wallet
- Nano Vault
There are also three mobile wallet options:
- Nano Wallet Company
- Nano Blocks
Nano Coins can also be stored on Ledger Nano S