Nano is a cryptocurrency that serves the same purpose as many other cryptocurrencies; revolutionize traditional money. On this page, Knaken explains what nano (NANO) is and you'll get some useful tips for when you decide to buy or sell Nano.
Nano was launched in 2015 and was then called RailBlocks. The creator of the cryptocurrency, Colin Lemahieu, tried to develop a fast, free and scalable network with Nano. To achieve this, Nano looks very different under the hood than, for example, bitcoin (BTC).
For example, everyone who uses Nano has its own blockchain instead of a single blockchain in which all transactions are stored, as is the case with bitcoin. Nano's architecture maintains the balance sheets of the wallets, where traditional blockchains track every transaction and their values. This means that, among other things, less free storage space is required to use Nano.
This revolutionary approach leads to a processing time of transactions of just 1 to 10 seconds. In addition, no transaction costs are charged. The result is a cryptocurrency that is fast, scalable and free! Moreover, Nano is much more efficient because there is no mining needed. Miners ensure the security of the data within the Bitcoin network, a disadvantage is that it takes a lot of power. Nano's unique approach eliminates the need for miners.
Buy Nano (NANO) safely and easily via Knaken+
Buying Nano is easy and fast via cryptocurrency exchanges such as Binance and Coinbase. There you can buy Nano for its current market price. The Nano will be placed in your exchange account after purchase, after which you can send it to your own cryptocurrency wallet.
You can also buy Nano via so-called over-the-counter (OTC) platforms. These are often local companies that send the Nano directly to your own wallet. This offers more privacy and security. An advantage of these OTC platforms is that customer service is often easier to reach because they are local companies where the staff speaks your language.
Sell Nano (NANO) safely and easily via Knaken+
Selling Nano is often just as easy as buying Nano. Do you have your Nano in your exchange account? Then you can sell it with a few clicks on the open market of that same exchange for the current price. You can also sell your Nano to the aforementioned OTC platforms. They will convert the cryptocurrency directly into euros.
Knaken helps you buy or sell Nano safely and easily. It doesn't matter if you are a beginner or a veteran. These three simple steps apply to everyone.
• Select your cryptocurrency
• Pay via payment methods such as IDEAL.
• Receive and manage your crypto in your Knaken dashboard or your own wallet.
Why do people buy or sell Nano?+
One of the most common reasons for buying Nano is as an investment. It is possible that the technology will be used more and more, which means that the cryptocurrency can increase in value. If that is the case, you will generate profit.
You can also decide to actively trade with Nano. This means that you buy the cryptocurrency at a time when the Nano price is low, and sell it again when the price is higher. However, this comes with many risks because cryptocurrency prices are often very volatile.
Finally, you can of course also use Nano for what it is intended for; making transactions. Once you have your Nano in your wallet, you can quickly send transactions to other Nano wallets!
Why choose Knaken?+
• Safe & Easy
• No extra costs
• Manage crypto via your Knaken Dashboard or your wallet
• Knaken has its own exchange
Important tips when buying/selling Nano+
If you want to buy Nano, there are a number of things that are important to keep in mind. For example, it is important that you have a good Nano wallet. In case you buy Nano through an exchange it is advisable to send your Nano to your own wallet.
Do you want to buy Nano through an OTC platform? Then investigate the company that offers the Nano. Unfortunately, scams are common in the cryptocurrency world. So look for reviews from other users, ask about experiences of friends with the company and use your common sense. Does a website look cheap or bad? Then you need to be extra careful. Important: Never give your private key to anyone!
Wallets come in different shapes and sizes. There are online wallets, these are wallets that can only be used with an internet connection and browser. This type of wallet is considered to be the most unsafe. You can also use software wallets, this is software that you install on your PC or laptop. In this case, you basically save your Nano on your hard drive. The safest option, however, is a hardware wallet, which is a sort of USB stick on which you can store your Nano. These wallets are not connected to the internet and therefore offer the most security.