- Buy NANO and 60+ other cryptos
- Spend anytime with the MCO Visa card
- Earn interest on your crypto holdings
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Nano (NANO) is a digital currency designed to offer instant transactions, have zero fees and be infinitely scalable. Formerly known as RaiBlocks (XRB), Nano uses a hybrid of blockchain and directed acyclic graph (DAG) technology and aims to offer an efficient and viable alternative to fiat currency.
This is our quick guide to just one way to buy NANO. Compare some other options in the table below.
Find an exchange to buy, sell and trade Nano by comparing deposit methods, supported fiat currencies and fees. Select Go to site when you’ve found a fit.
Here’s how to buy Nano:
There are several exchanges where you can currently buy Nano, so you’ll need to choose one of them to purchase your NANO. To register for an account, you’ll need to provide your email address and create a password, while most exchanges will also require your full contact details and proof of ID before allowing you to trade. Don’t forget to add two-factor security to your account to make sure your coins are protected.
Some crypto exchanges don’t support the direct deposit of fiat currency, such as USD, so you’ll often need to make your deposit in bitcoin (BTC) or Ethereum (ETH). If you currently don’t have any BTC or ETH, you can follow our guide here on how to purchase.
The final step is to navigate to the markets section on your chosen exchange and place a buy order. Sign into your account, go to the markets section and search for “NANO”. Click on NANO/USD and you can enter the amount you want to buy.
If you’re using a platform that only allows crypto-to-crypto exchanges, search for your desired currency pair (for example BTC/NANO or ETH/NANO), click on “Buy NANO” and then follow the prompts.
If you’d like to sell your NANO holdings, the process for doing so is essentially the same as that outlined in step 3 above, with the obvious difference that you’ll need to select sell instead of buy. It’s also important to remember that crypto exchanges don’t offer every available currency pairing, so it may not be possible to directly exchange NANO for the currency you want.
Storing coins and tokens on a crypto exchange for any length of time is not recommended. To provide a higher level of security for your funds, it’s best to store them in a secure wallet. Two of the many options available for NANO holders are:
Nano aims to overcome these three obstacles.
Built using a directed acyclic graph algorithm, Nano also employs a unique block-lattice structure. Each Nano account (wallet) has its own blockchain known as an account-chain, which is equivalent to that account’s transaction/balance history. Each account-chain can only be updated by the account owner, which means it can be updated asynchronously of the rest of the network.
Each transaction sent through the network is its own block. When you send NANO, two transactions are required – a send transaction that deducts the balance from the sender and a receive confirmation by the recipient. Think of it like the two ticks you see when you send a WhatsApp message – one tick when you have sent a message and a second tick when your recipient confirms it has been received. The result of this structure is near-instant transactions and zero fees.
Originally known as RaiBlocks, the currency was rebranded to Nano in January 2018.
Cryptocurrencies are complicated and speculative, and buying any crypto coin or token comes with a high level of risk attached. It’s essential that you’re fully aware of all the risks involved before you decide to buy. If you’re thinking of purchasing NANO, make sure you consider the following factors first:
By taking all of the above factors into account and doing your due diligence on Nano, you’ll be able to decide whether or not you should buy NANO.
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