|Circulating Supply||133,248,289 NANO|
|Max Supply||133,248,290 NANO|
Nano (XRB) is a cryptocurrency that was launched in 2016 under its original name of RaiBlocks. It was created with the intention to solve the problems that other cryptocurrencies such as Bitcoin suffer with. This cryptocurrency was rebranded in January of 2018 and claims to have faster transaction times, no fees, unlimited scalability and uses far less energy than that of Bitcoin.
Nano currently has a market cap of more than $1.6 billion, a trading volume of around $370 million in a 25 hour period and a value of $12.31. There are more than 130 million of XRB coins in existence.
What is The Nano Coin (XRB)?
Nano was created to counter the kind of issues that Bitcoin and other cryptocurrencies have. Due to the limited scalability of Bitcoin, as its value has increased, so has the fees associated with transactions. Furthermore, Bitcoin takes an average of 164 minutes to complete a transaction due to the high computational latency that is required and also uses a whopping 260KWh of energy per transaction.
Nano uses a block-lattice structure that allows no fees, no need for energy-consuming and high-cost mining equipment and instantaneous transactions.
While this block-lattice technology works in much the same way as a traditional blockchain, it differs in each account on the network has a chain of its own. It works by sending two transactions, one from the sender and one from the receiver. Once the receiver signs a block to complete confirm that funds were received, the transaction is complete.
Whats Special About Nano (XRB)
Nano certainly promises to deliver a number of advantages over Bitcoin and should it prove to be as scalable as suggested, this cryptocurrency really could become a major player.
Check out three of the special advantages of Nano:
- No fees – Without the need for miners, there are no fees when performing Nano transactions. This is a massive improvement over Bitcoin which has seen its transaction fees increase massively in recent months.
- Lower energy consumption – Due to there being no need for miners with this cryptocurrency, the energy required for each transaction will also be dramatically reduced.
- Instant transactions – Because transactions do not need to use the entire blockchain and simply need verification from the receiver, transactions are instant.
Where to Buy Nano (XRB)
Nano is among the top twenty or cryptocurrencies at the moment so it is little wonder that there will be plenty of different cryptocurrency exchanges that will support it. Instead of having to go and find these cryptocurrency exchanges for yourself, however, we have done a lot of the work for you and found five that we know are reputable at the moment:
Binance is easily one of the most popular cryptocurrency exchanges online due to the anonymity and currencies that it supports. You will be required to already own some cryptocurrencies however as it only provides support for crypto-to-crypto trading.
HitBTC is a cryptocurrency exchange that supports dozens of trading pairs and allows crypto to crypto and fiat to crypto trading. Whether you want to trade XRB or any other major cryptocurrency, this exchange is a good option to consider.
Bittrex might not support quite as many cryptocurrencies as some of the other exchanges but it is still one that can be trusted as it has been in operation since 2014. Only crypto-to-crypto trades can be performed on this exchange.
Mercatox has been in operation since 2016 and is another exchange that only allows crypto-to-crypto trades. This exchange accepts traders from all over the globe and will even accept US-based traders.
EtherDelta is a cryptocurrency exchange that focuses on Ethereum-based cryptocurrencies and tokens. It is a relatively new exchange that launched in 2017 and one that has become very popular in a short space of time.
Any of the above cryptocurrency exchanges will be a good choice when it comes to trading Nano but you will no doubt find some more exchanges out there as well. It would pay to do your homework on these exchanges first though, as they are not always as reputable as the ones above.
Investing in Nano (XRB)
Nano is receiving a lot of support at the moment and there are plenty of traders that have full belief in the cryptocurrency. They feel that this currency will increase in value as more people realize the benefits that Nano comprises.
This makes it a very good option no matter whether you are looking for a short, medium or long-term investment. If you are thinking about investing into this cryptocurrency, it would be a good idea to first do a bit of research on what they are trying to provide before deciding if it is something you feel has real potential.
Do I Need a Nano Wallet?
The answer to this question will depend on how much you value your cryptocurrencies. If you value them greatly like many others do, there is no question that you need a wallet. Leaving your cryptocurrencies in your accounts at the cryptocurrency exchanges is always an option but definitely not the best one in our opinion.
If you follow the news in the cryptocurrency world, you will know that these exchanges have been the target for hacking on a number of occasions with hundreds of millions worth of cryptocurrencies being stolen.
Instead of taking that risk, we suggest you always move your currencies off the exchanges when you are not using them and store them in another wallet. This will prevent you from being one of the victims if a hacking ever does happen on your favourite cryptocurrency exchanges.
Hard wallets are easily the best option for the storage of your cryptocurrencies but these are not always able to store the wide range of cryptocurrencies that are available. The good news for the Nano cryptocurrency is that there is one hard wallet that you can use to store it.
- Ledger Nano S
That hard wallet is the Ledger Nano S which many traders claim to be the very best wallet available. Not only will it store the Nano but will also store many of the other major cryptocurrencies out there.
The only software-based wallets that are available for the storage of Nano is that of the official wallets that have been released by the team behind the cryptocurrency. There are three different types and they are the:
- Nano Web Wallet
This is the online wallet that they provide which is generally called a light wallet. Here you can store your Nano without needing to download anything. We do suggest you use one of the other options unless you are only going to use this for short-term storage.
- Nano App Wallet
This is the app version of their wallet and it can be downloaded for both iOS and Android mobile devices. This is a good choice if you regularly use mobile devices to do your trading. If you want to use a PC however, you should consider the next option.
- Client-Side Wallet
When using a computer, the client-side wallet will be your best option. This can be downloaded onto your PC and will let you store your Nano cryptocurrency locally. This is the best option with regards to the security and protection of your Nano.
Pros & Cons
Nano is one cryptocurrency that has a lot of eyes on it at the moment. Many are waiting to see if this cryptocurrency really can take on Bitcoin and establish itself as a major decentralized cryptocurrency.
- No fees
- Instant transactions
- Strong development team
- Not as widely available on exchanges compared to other currencies