Nano coin Current Price, Market Cap, How And Where To Buy Nano Token: Due to massive adoption of the Crypto market for the past few years, A lot of developers has come up with their crypto projects and more is still coming as far as the market continue to boom. Without wasting much of your time, we will go directly to the reason you land on our page, which is to know much about “Black Diamond (DIAMONDS)” and How And Where To Buy NANO COIN.
What Is Nano (NANO)?
Billed as “digital money for the modern world,” Nano is a lightweight cryptocurrency that is designed to facilitate secure, practically instant payments, without fees, and addresses some of the major limitations of both legacy financial infrastructure, and many modern cryptocurrencies.
Development of the project began in 2014 under the name RaiBlocks, and the coin (then termed XRB) launched the following year through a public faucet, which allowed users to claim small amounts of XRB after completing a captcha challenge. Users were allowed to complete as many captchas as they liked to increase their words — effectively trading their time and effort for XRB.
RaiBlocks (XRB) was rebranded to Nano coin (NANO) in January 2018, with the new name chosen to better represent the speed and simplicity the project offers to users.
It is a peer-to-peer platform that uses a unique block-lattice data structure to allow users to easily transfer value to one another without relying on centralized intermediaries.
Unlike other platforms which typically use the combined proof-of-work of a massive mining network to achieve consensus, Nano instead uses a system known as Open Representative Voting (ORV) — which sees account holders vote for their chosen representative, who then work to confirm blocks of transactions securely.
ORV makes Nano extremely energy efficient, positioning it as a more environmentally friendly alternative to proof-of-work (POW)-based cryptocurrencies.
Who Are the Founders of Nano?
Nano coin was founded by Colin LeMahieu, a heavily experienced software developer and engineer with a wealth of experience working for prominent tech companies, including Dell, AMD and Qualcomm.
Self-described as an inventor, LeMahieu has interests that range from space technology to physics and environmental sustainability, and is a well-known name in the digital currency space. He began working full time on Nano in 2017 and remains the CEO of the Nano Foundation — an organization created to drive the development and adoption of the Nano — to this day.
Colin LeMahieu also pushed the vast majority of commits to Nano’s GitHub repo.
Beyond LeMahieu, the Nano Foundation has over a dozen other employees, including George Coxon, a graduate in Evolutionary Anthropology and experienced account executive, and the current COO of the foundation.
What Makes Nano Unique?
As we previously touched on, Nano is designed to be fast. So fast, in fact, that most Nano transactions reach absolute finality within less than a second — compared to several minutes or even longer for many other major cryptocurrencies.
This speed makes Nano suitable for commercial payments, since merchants and retailers no longer need to worry about transaction delays when accepting payments.
Moreover, Nano transactions are completely free. Since representatives do not receive financial compensation for their efforts to secure the network, there is no need for a transaction fee. This makes Nano an ideal solution for processing micro-transactions, since users no longer need to worry about fronting a potentially expensive transaction fee when making small payments.
These features are enabled by its unique architecture. Unlike many cryptocurrencies which are built on top of a distributed ledger known as a blockchain, Nano Coin is instead built around a similar ledger technology called a directed acyclic graph (DAG).
This structure is highly reliable and allows Nano to process as many as 1,000 transactions per second (tps) — without requiring an energy-intensive mining network to maintain its integrity, positioning Nano as an eco-friendly digital payment option.
How Many Nano (NANO) Coins Are There in Circulation?
Like the vast majority of cryptocurrencies, Nano has a fixed maximum number of tokens that will ever enter existence, this number is set at exactly 133,248,290 NANO Coin.
The original maximum supply was set much higher than this, but any remaining NANO tokens above the current 133 million limit were permanently burned. In total, around 39% of the original genesis supply was distributed.
Nano is unusual in the fact that its entire supply is already in circulation, this means it is fully diluted.
Because it is fully diluted, Nano is also highly decentralized, and well distributed, with the vast majority of Nano accounts holding less than 100 NANO. As of December 2020, around 20% of all Nano in circulation (~26 million) is held in one of the cold wallets associated with the Binance cryptocurrency exchange.
A total of 5% of the circulating supply was held back for the continued development of the project, this was allocated to a so-called “developer fund.”
How Is the Nano Network Secured?
Nano is secured by a network of representatives, each of which is voted into position by NANO holders.
These representatives are responsible for casting their votes when the network needs to achieve consensus, and their voting power is the sum total of the voting weight delegated to them by NANO holders. These vote on the validity of transactions on the Nano network, ensuring only valid transactions are confirmed.
This process protects the network against a type of attack known as a double spend—which occurs when an attacker is able to manipulate the network to effectively spend the same funds twice.
In addition, the Nano network features a wide variety of additional defenses against various possible attack vectors—a full overview of which can be found here.
Where Can You Buy Nano (NANO)?
Since Nano cannot be mined, the most popular way to get your hands on some is by purchasing it from one of the more than 50 exchange platforms that support it. Binance, OKEx and Huobi Global are currently among the most popular exchanges for Nano to crypto trading pairs, whereas it can also be bought with fiat on Kraken and Binance.US.
How And Where To Buy.
With the recent hike in the price of Nano, there has been a high demand from potential investors who wish to buy and own Nano, A lot of crypto investors are online trying to get the right information on how to how & where to get their Nano asset as well as storing them in a secured wallet. According to data gathered from CoinMarketCap and many other crypto websites, It’s clear that Nano is not available on many on many Crypto-Exchanges but as of the time of this writing Nano is available on Binance, Mandala Exchange, OKEx, FTX, and Huobi Global.
NOTE THAT: Nano cannot be directly purchased with fiats currency in most exchanges. However, You can still easily buy this coin by first buying USDT or any major Crypto Currencies like BITCOIN from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy Nano.
Register on Fiat_to_Crypto Exchange
Since you can’t buy Nano directly with Fiat Currency, You will have to first buy one of the major cryptocurrencies (BTC, USDT, ETH). But in this case let’s consider USDT (USDT). You can perform this transaction on fiat-to-crypto exchanges, Uphold.com and Coinbase.com you can decide to use any of them as they are widely adopted in the crypto world, They are rated among the largest crypto exchanges that accept fiat deposits in the world.
All you need to do, create account with them ( ensure you keep your password safely) after creating an account then move to the next step which is to buy USDT.
Buy USDT with fiat Currency
Once you finished with account creating and verification process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer.
PLEASE NOTE: You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer attract lower charges but slower purchases, Though it sometimes depends on the country of your residence, some countries will offer instant cash deposit with low fees.
Transfer USDT to an Altcoin Exchange
After buying your USDT, it’s worthy of note that since Nano is an altcoin that can’t be traded in most Crypto exchange, we need to transfer our USDT to an exchange that Nano can be traded. Many exchanges has their own policies as some has restrictions to some countries, for example Binance does not allow investors from USA as customers. So you have to choose an exchange that suit your location and create an account with them before proceeding to the next steps.
PLEASE NOTE: It will always be advised to set up 2FA authentication as it adds extra security to your account.
Deposit USDT to Your Preferred exchange
Depends on the policies of the exchange you might be required to go through another verification process, this usually takes minimum 0f 30 minutes and a maximum of a day, After the whole verification process you are now good to go.
Since we are now transferring our previously bought USDT on Coinbase to this wallet, click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard. Now head back to Coinbase, go to Portfolio page and click on the USDT on your asset list, then click on ‘Send’ on the right.
Under the Recipient field, paste the wallet address from your clipboard, for security and accuracy reason, you should always check if both addresses are matching and Click ‘Send’ to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to your preferred exchange.
Now go to your exchange to confirm your USDT arrival, don’t worry if you haven’t seen your deposit almost immediately, It might be undergoing some network verification in the blockchain network and this should take a few minutes for your coins to arrive. Depending on the network traffic condition of the USDT network, during busy times it may take even longer.
You should receive a confirmation notification from your exchange once your USDT has arrived. guess what? You are now finally ready to purchase your Nano Coin
Trade Your Nano Coin
At this stage which is the final of your purchase, held to your exchanging platform, then go to ‘Exchange’. make sure “USDT” is selected to be able to trade USDT to altcoin pair of your choice, in this case NANO. You should see NANO/USDT, select that pair and you should see a price chart of NANO/USDT in the middle of the page. All you need to do is to execute your order and you are done getting your NANO asset.
Some Top Exchanges You Might Love Base On Your Location
BitMart – Is one of the most trusted cryptocurrency trading platform which provides real-time trading services including Bitcoin (BTC), Ethereum (ETH) and other Altcoins. It accept American customers unlike BINANCE that doesn’t support American customers.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.
Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here.
The Last Part And Conclusion.
After Purchasing your NANO, and your plan is to hold it for long. You will have to open a secure wallet online or you make use of appropriate “Cold Wallet” as there had been too many hacking incidents associated with online and funds had lost severally.
Thank you for your time, note that this page is open for update and corrections. Please Note That, buying of crypto currencies is at your own risk, all our post is for education purpose and it’s advisable that you buy according to the dollars you can afford to lose.