Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Nano, and is trustworthy!
You can find our top 3 exchanges for buying Nano here, alternatively you can also check our comparison of the best Australian crypto trading platforms if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy Nano
And of course, the final step is to find Nano on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy Nano (XNO)
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How to Sell Nano
- Sign into the exchange
- Find where you stored your Nano, either on a hardware wallet or on the exchange.
- Transfer your Nano to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Nano.
Considerations when looking to buy Nano.
What is Nano (XNO), and how can it help you? Nano (XNO) is described as "digital currency for the modern age". It is a light cryptocurrency that allows secure and almost instant payments.
The project was originally developed under the name RaiBlocks. In 2014, the coin (then called XRB) was launched through a public faucet. Users could claim small amounts of XRB by completing a captcha challenge. Anybody with a phone or computer could solve captchas and receive RaiBlocks. Over time, the number of XRB people who solved captchas varied.
In January 2018, RaiBlocks (XRB), was rebranded as Nano. The new name was chosen to better reflect the simplicity and speed of the project's offerings to users.
It is a peer to peer platform that utilizes a unique block-lattice information structure to allow users transfer value easily to one another, without the need for centralized intermediaries.
Nano uses an Open Representative Voting system (ORV), which allows account holders to vote for the representative they choose. This confirms transactions securely.
Nano is extremely energy-efficient thanks to ORV, making it an environmentally-friendly alternative to proof of work (POW-based) cryptocurrencies.
Nano adopted a new symbol and ticker in November 2021 to make nano more accessible to the real world.
Nano is fast, as we have already mentioned. Nano transactions are so fast that they reach absolute finality in less than one second, compared to several minutes for major cryptocurrencies.
Nano is a fast payment option that allows merchants to accept payments at their convenience.
Nano transactions are also completely free of charge. Representatives do not receive any financial compensation for their efforts in securing the network. There is no transaction fee. Nano is a great solution for micro-transactions because users don't have to worry about paying a transaction fee.
Its unique architecture allows for these features. Nano is not built on top a blockchain-like distributed ledger. Instead, it is built around a similar ledger technology known as a directed acyclicgraph (DAG).
This structure is extremely reliable and can support 1,000 transactions per minute (tps) using the right hardware. It does not require an energy-intensive mining network to keep its integrity. Nano is an eco-friendly option for digital payments.