How to Buy Nano Online

Founders term Nano as “Digital money for the modern world.” It is used in making payments efficiently and quickly globally. 

This guide looks at how Nano is positioned in the crowded space of cryptocurrencies that want to become global payment mediums. We also explore the trading opportunities.

Best platforms to buy Nano – 2021

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

What is Nano?

Nano is a decentralized cryptocurrency designed to facilitate global payment while countering the shortcomings of the current financial systems. Low fees characterize this digital currency, and transactions are completed fast.

Nano was launched in 2015 and was first known as Raiblock.  The founder and the current Nano Foundation CEO is Colin LeMahieu. The name change from Raiblock to Nano happened in January 2018. Nano has a roadmap for the development of new features such as network upgrade 4. 

The market cap for Nano is currently north of $650 Million, with a circulating supply of 133M. At the time of writing, Nano ranks at position 111 with a healthy trading volume.

There is a growing ecosystem that accepts Nano as a paying method. Some of the merchants and online stores include Travala, Coinsbee, Digitec, and Galaxus.

Is Nano a worthwhile investment going forward? Market volatility and competition seem to work against Nano at the moment. The lack of widespread adoption is also a significant concern. However, the prices may go up in the long term once adoption grows. In May 2021, after a tweet from Elon Musk on the power demands of Bitcoin, Nano prices soared by 60% due to its environmentally friendly nature.

The price forecast suggests that the value will climb, although steadily in the coming years, due to its eco-friendly characteristics. 

Buy Nano now at our preferred partner

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Some of the pros and cons of Nano include:

ProsCons
Fees-less– Nano has zero transaction fees in a bid to foster inclusivity in the financial system.Voting rights – The use of delegated proof of stake(DPoS) assigns voting rights depending on the account balances of the nodes. The lack of master nodes may make it possible for bad actors to control the Nano blockchain.
Fast – Transactions on the Nano blockchain are almost instantSecurity – Previous attacks on the Nano network resulting in the nodes going offline.
Eco-friendly – Unlike Bitcoin, Nano looks to be a sustainable cryptocurrency and does not rely on mining or minting.
Scalability – Nano was developed for scalability to facilitate its global payment system goal.
Community – Nano has a vibrant community with active involvement and engagement in both Reddit and Discord.

How does Nano work?

Nano native token is called NANO. The Nano blockchain has characteristics looking to provide a viable option to other cryptocurrencies like Bitcoin and Ripple. It uses little energy, provides scalability, and is easy to integrate and use.

The network gives every account its account chain, which forms a block-lattice when collectively considered. Transactions on the network require a send block and a receive block.

Nano utilizes a consensus algorithm known as Open Representative voting (OPV). Representatives vote on the network to get consensus. This is achieved by voting on the validity of individual blocks. Each representative who can vote has a “weight” based on the amount of Nano an account holds. The OPV helps Nano avoid mining; instead, voting by the representatives allows for confirmation of transactions on the network.

How to Buy Nano online

You can buy Nano using Fiat currencies or Swap them with other Cryptocurrencies like Bitcoin and Ethereum. Here are the steps to buy Nano:

Step 1: Find a suitable Wallet

Find a digital wallet compatible with Nano.  Some of the recommended wallets include NanoWallet, Nantrium, Exodus, WeNano, and Atomic wallet.

Step 2: Find a reputable exchange

When searching for a reputable exchange, consider the fees, geo-restriction, ease of verification, and order fulfilment speed. 

Step 3: Register and fund your account

Registration involves signing up and completing the verification process. Note that this step will require the provision of KYC(Know Your Customer Details) information.

Deposit funds into the exchange account. The core methods for funding accounts include bank deposits,  credit, and debit cards. 

Step 4: Purchase Nano coins

Specify the amount of money you wish to spend for Nano. Check the fees and finalize the purchase.

Please note that other exchanges may require you to fund the account during this step.

Step 5: Transfer Nano to your wallet.

Some exchanges may require you to input your wallet address during the purchase process.

Nano is popular on third-party exchange services. Some reputable exchanges where you can buy Nano include Wirex, Coingate, Swapzone, and Changelly.

Congratulations, you’ve just bought your first Nano!

Top platforms to buy Nano

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

How to trade Nano

Trading Nano involves price prediction to try and make positive margins as a trader.

Step 1: Finding a suitable broker

Find a suitable predictable platform that offers good fees and is easy to use.

Step 2: Funding your account

After choosing the right trading platform, deposit your cash. Some of the main methods of funding include bank deposits, credit and debit cards. Consider bank deposits for funding due to the lower fees.  You can start trading with a small amount.

Step 3: Decide the trading method

Traders can use spread betting or contracts for differences (CFDs). These methods will require the trader to stake whether Nano’s price will rise or fall over a given period. 

We advise beginners to set up demo accounts at first to practice trading.

Step 4: Start trading

Set up the trade by selecting whether prices will increase or decrease. If your analysis shows that prices will increase, take a “long” position, otherwise take the short position (sell).

When trading, we recommend that traders Take note that there are real possibilities of losing money.