The ultimate beginner's guide to trading Nano
What is Nano?
Nano is the new name of a cryptocurrency once known as Raiblocks. Nano is a payment currency which aims to solve many of Bitcoin’s problems, by being faster, cheaper, and much more scalable. In early tests, Nano can handle 700 transactions per second, while Bitcoin can do only about 10. Nano coin had incredible investment returns in 2017 and early 2018, but with the price below $10 again, this could be the last chance to get in on Nano. It’s even possible that Nano could one day overtake Bitcoin as the world’s #1 digital payment system
How to Buy Nano Coin XRB
Here, we’ll describe how to buy Nano coin XRB, using a popular cryptocurrency exchange called Binance. This method requires a little more work and savvy before you’ll be able to buy Nano coin, but we’ll provide a guide that shows you the way step by step.
First things first, we’re going to need a Nano coin wallet. Go to Nanowallet.io
to begin. On the Nanowallet.io homepage, click “Sign Up Now”.
Nano will now as you for a working email and a unique password, which you have to input twice. Now click “Sign Up”.
Now Nano will show you your account “Identifier” and “Seed”. This is a little confusing to some because these are not the terms usually used by other cryptocurrency programs. Here, “Identifier” is sort of like an account name assigned to you by Nano. “Seed” is the same thing as “Private Key”. It’s a code that NO ONE should ever find out but you. You can use this code to regenerate your wallet if you should ever be locked out for any reason. Write these down and store them in a safe place, preferably in two different safe locations just in case one is lost or destroyed.
Now you’re inside your Nano wallet. Have a look around. To see your account address (we’ll have you come back to this later), click “receive” at the top left of the screen. This next menu will appear.
Use the address seen under “My Accounts” to send funds to this address as we will do later. Just copy it and take it to where we tell you.
How to Buy Nano Coin with an exchange
There’s another method by which you can buy all the Nano coin XRB you please. There are many exchanges online which stock tons of different coins. Crypto investors go to one exchange or other, perhaps in search of a good Nano coin price, and trade coins like Bitcoin for altcoins like Nano coin. We’re going to show you how to use the world’s biggest exchange, Binance
, to buy Nano coin. But first, you’ll need some Bitcoin.
If you don’t have Bitcoin already, head over to Coinbase
, where you can use fiat currencies like US Dollars to buy Bitcoin, using a bank transfer or a credit card. Wait for your Bitcoins to arrive, then go on to the rest of the steps.
Now that your Bitcoin has arrived, let’s get you started on Binance. Go to Binance.com and create an account.
When you input your email and new password, you’ll be asked to complete Binance’s interesting take on the CAPTCHA. Do so, click on the links in the emails they send you, and you’ll be led to the screen where you can add security to your new Binance account.
Here, you’ll be offered the chance to add 2 Factor Authentication to your account. This means that, in addition to your password, Binance will give you a code (a new one appearing every 30 seconds on a phone app, 24/7/365) which you’ll need to input each time you login. No one else will have access to this code, so no one else should be able to get into your account or monkey with the precious currency therein.
Now it’s time to fund your account. At the top of the screen, click “Funds”, then “Balances”. This will take you to a wallet screen. Binance gives you a wallet for every coin they sell, just in case you were to buy one. All you need to pay attention to right now is the Bitcoin wallet, which you can isolate by typing “Bitcoin” into the search bar as pictured below.
Click “Deposit” beside the Bitcoin wallet, because you are now going to deposit coins from Coinbase into this wallet.
Copy the “BTC Deposit Address”, run on over to your Coinbase wallet”, and paste it into the address line in the “Send” function on your Coinbase Bitcoin wallet. Always double check addresses. In a few minutes, your Bitcoin will arrive in your Binance Bitcoin wallet and you’ll be ready to buy Nano coin at today’s Nano coin price. Click on “Exchanges”, then “Basic”.
This is the most important Nano Binance page. When you get to the trading screen, type “Nano” into the little search bar on the right, as pictured above. This will bring up the “NANO/BTC” trading pair. Click it. When you see the Nano coin price chart appear, you’re ready to buy Nano Binance. Now turn your attention to the green button below.
This little menu is what you’ll use to buy Nano coin at the present Nano coin value. You’ll see the current Nano coin price already filled in beside “Price”. Now all you have to do is choose how much Nano coin you would like to buy. You can do this by clicking the percentage buttons, which represent how much of the Bitcoin stored in your Binance Bitcoin wallet you would like to spend on this purchase. Once you’ve made this decision, you’ll see a total price on the last line. Then just click “Buy NANO” and your order should fill in just a minute or so.
Why Invest in Nano Coin XRB?
Nano coin XRB has what many other newer crypto projects do not: a working product and a tangible use case. In short: it’s money. You can use it to buy stuff in a growing number of consumer environments. You can’t use it as widely as Bitcoin, but that’s the point. Nano coin is an upstart, a challenger to the throne. If it one day takes over where Bitcoin left off, it’s current $8.48 price will seem like an inconceivable bargain.
That’s why early Nano coin XRB investors are so excited. Nano has been demonstrating steady progress, and recently got added to the largest crypto exchange in the world. People are already using Nano coin to transfer wealth across the globe instantly and with almost 0 fees. If this trend continues, Nano will become a worldwide currency system of some note, and investment rewards will be great.
If you choose to invest in Nano coin XRB, we urge you to do some of your own research. Get to know the development team behind this coin. Become a part of the community and have conversations with Nano coin investors who have been around longer than you. If you then agree with us that Nano coin is a must-buy for crypto investors in 2018, give it a go.
In the rest of this Nano coin review, we’ll talk about how to buy Nano coin, using two foolproof methods for two different kinds of customers.
How to Send Your Nano Coin XRB to Your Nano Coin Wallet
You now own Nano coin XRB! But your job is not done. Every cryptocurrency exchange in the world has hackers who are trying to break in and steal customer coins. This hasn’t fully happened to Binance yet, but you don’t want to be a victim just in case a future party is successful. Go back to your Nano Wallet and copy the address we talked about earlier. Then go back to the Binance “Funds” > “Balances” page and look for your “Nano Wallet”. Click “Withdraw” beside it.
Paste your Nano wallet address that you copied, double check it for correctness, and click “submit”. This will send your Nano coins to your Nano coin wallet. Voila! You now invest in Nano coin and your coins are safe and secure in your own Nano wallet.
Final Thoughts on Nano Coin
Nano coin value comes from technological innovations which are new to blockchain, and even though the network is still young, this has been the reason for Nano coin price growth over the past year. If you believe in the Nano coin project, consider investing in Nano coin soon. You could be amply rewarded for your foresight.
Nano coin is already faster and cheaper than Bitcoin. If widespread adoption continues, the Nano coin price will surely rise, and Nano coin value could be one of the big stories of 2018, especially as the market recovers from this recent crash. No one can tell the future, but we think that Nano coin is worth a look from every crypto investor, as it could potentially hold a special place in every portfolio.