I’ve been steadily investing in Nano for the past 12 months. When I started it was known as RaiBlocks, but they underwent a name change. In my opinion, Nano is one of the very few alt-coins that has real fundamental values. In this post I’m going to share some of the reasons why I think Nano is a great investment for the long term:
Nano solves one of the big issues in Cyrptocurrency – the delay in transaction processing. A bitcoin transaction can take an hour to go through. Litecoin, which is a great alternative to Bitcoin still takes a few minutes. Bitcoin Cash tried to scam us into believing they had solved that issue, but the reality is that it to will be unable to scale because it’s based on the same underlying concepts as Bitcoin.
Nano is very different. It’s built using completely different ideas. It’s more of a grid or mesh rather than a blockchain. The result is scalable, near instant transactions.
This is huge! Cryptocurrency markets are very inefficient. There are huge arbitrage opportunities. But these opportunities are only possible if you can quickly transfer funds between exchanges and markets. Nano allows this. As Nano continues to roll out to more and more exchanges, we’ll see more efficent markets.
There are zero transaction fees on Nano. This means that Nano can be used for ecommerce and even micro-transactions. Merchants are obviously going to want to adopt any payment method that will cost them less. So this will help adoption.
Nano has a great team behind it. Not some anonymous “hackers” who you’re afraid will exit at anytime dumping the currency in the process. Over the past year, they’ve been releasing quality updates and actual software. There is a great web wallet for Nano as well as desktop and mobile wallets/apps. The team have also been working hard on exchange support. When I first bought RaiBlocks, it was only available on two exchanges. It’s now available on most of the top exchanges.
I’m actually using it
It’s one of the few cryptocurrencies that I actually use. The cost of transferring Bitcoin is so high. I would much rather convert it into Nano and then send that to another exchange or wallet. It’s instant and free (although the exchange may charge fees).
So Nano has some great utility. It’s not currently a top 10 cryptocurrency, but I’m sure it’s going to get there soon as more and more people discover that it’s damn useful.
Where you can buy Nano
Nano is available through my favorite exchange CoinSpot. That’s just for Australians. If you live anywhere else then you can buy Nano through Binance. I would recommend storing Nano in the web wallet or one of the mobile/desktop apps after you’ve purchased it.