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What Everyone Must Know About NANO

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Nano Coin

Every single person has heard about Bitcoin. Male, and Female. The cryptocurrency is now more popular than ever before and the mainstream door is completely shattered and a success. However, not everybody is aware of the coin’s shortcomings. In this tutorial, we are going to be talking about one such altcoin – the Nano coin (XRB).

I’ll tell you all about it – what the Nano coin (XRB coin) is, how it came to be, what it’s used for, and so on. I’ll also give an XRB price prediction and tell you the best places where to buy XRB.

So, what are you waiting for? Let’s get started right into the tutorial!

The term “NANO” itself has been officially rebranded from what was known as “RaiBlocks”. At the beginning of 2018, the company officials decided to name their cryptocurrency project (and the currency itself) Nano – this marked a new beginning for the coin.

Nano coin - RaiBlocks logo

Nano is pretty self-explanatory – it is a coin that aims to replace fiat currencies and bring crypto into people’s daily lives

What is Nano?

Nano is a digital payment protocol designed to be accessible and lightweight, with a focus on removing inefficiencies present in other cryptocurrencies. The coin’s goals and aims are almost identical to those of Bitcoin.

Unlike Bitcoin, however, Nano aims to perform the tasks (mainly transactions) of its blockchain in a much faster and more flexible way.

Nano coin uses a combination of Proof-of-Stake and Proof-of-Work algorithms. The mixture is called a “delegated Proof-of-Stake”.

The way that it works is that when there is a problem with a transaction in the Nano coin’s system (let’s say, two transactions collide – one of them is legit and the other one is a robbing or infiltration attempt), there are “delegates” that are there to vote for the legit transaction and dismiss the fraud one.

To become a delegate, you must have some XRB in your wallet – this incentivizes people to participate in the growth and advancement of the Nano community.

NANO History

Nano (ex-RaiBlocks) was launched back in 2015 by a man named Colin LaMahieu (a software engineer with years of prior experience in the field of computer software). It was launched under the name RaiBlocks, but after a few years, the team decided to rebrand. Why is that?

The reason is pretty simple. The initial name simply did not resonate with the mainstream audience that the company tried to appeal to. It is worth noting that they weren’t wrong – after the announcement of the name change, their transactions increased vastly.

This is also the reason why you might often encounter the Nano coin referred to as the “XRB coin”. It is a tag left since the days of RaiBlocks, and both Nano and XRB are correct when referring to the coin itself.

Ever since the inception of what would end up to become the Nano coin, it had one solemn purpose in mind – to make peer-to-peer cryptocurrency transactions more scalable.

It is probably no secret that not only Bitcoin (although this coin especially), but a lot of other older blockchain version-based cryptocurrencies identify scalability as the biggest problem of all. This results in huge transaction fees, super slow trading speeds and so on.

Many different altcoins have tried creating their versions of blockchain that would help improve the scalability in question, and the Nano cryptocurrency is one of them. Now, the natural question that might arise for you might be – what’s so special about the Nano coin, then? My answer to that would be one simple thing – block-lattice.

Nano Block Lattice

A difficult term in of itself, block lattice refers to a mixture of two systems – the traditional blockchain and what is called a “directed acyclic graph”, or DAG for short.

DAG is a type of data structuring. When, for example, you perform a transaction (buy, sell or simply trade) with a traditional cryptocurrency, your transaction is grouped into a “block” with a predefined space and size – these blocks make up the blockchain. With the DAG structure, however, you would be able to see individual transactions and how they correlate in the bigger picture of the blockchain itself.

What’s good about DAG is that it’s extremely scalable – exactly what the traditional blockchain lacks. The downside is that it isn’t particularly safe – however, this is where the infamous security of blockchain steps in.

The Nano coin aims to unite the best of these two worlds – DAG’s scalability and blockchain’s security.

How Does it Work?

The working principle behind Nano’s coin is quite simple.

To over-simplify it, Nano simply stores incoming and outgoing transaction data into designated, individual blocks in your own, personal blockchain. This way, your wallet balance is always kept updated and secure, while also keeping the blockchain working smoothly.

The general concept and idea behind the Nano cryptocurrency is the driving goal behind this process. The company has only one single focus – scalability. They aren’t too concerned with security – that’s where the blockchain itself comes in. Rather, the team focuses on providing the fastest possible transactions in the field of cryptocurrency. In turn, the “fee” topic comes up – there are no fees whilst using Nano coin in your transactions. Yup, you’ve read that right – 0 fees.

Price

To analyze the price swings and form a possible XRB price prediction, let’s take a look at the graph below.

Nano  XRB coins - charts

As you can see from the chart, there has been one notable (or I should probably say a VERY notable) price swing that impacted the Nano coin price, and it happened back during January of 2018. If you’re familiar with cryptocurrencies and have been following them for a bit of time, you might know that the XRB coin itself didn’t have anything to do with it.

At the turn of the year (2017-2018), the cryptocurrency market experienced the strangest period of its lifetime – the prices of cryptocurrencies inflated and then suddenly crashed – some completely, others – not so much.

There were many reasons behind this crash (it would take way too long to list all of them here), but just to name a few of the main ones: some governments banned cryptocurrencies altogether, financial experts prophesized the doom of the crypto world, people started panic-selling (I should say – dumping) their coins, etc.

As you can see, this had very little to do with the Nano coin itself. And it goes to show – towards September of 2018, the Nano coin price started stabilizing and is currently in quite a good position, even showing signs of growth.

As for the XRB price prediction… A lot of experts say that if the company will keep on advancing their technology and stay focused on the “feeless, fast and scalable” goal, the price of the Nano coin might keep on slowly increasing.

Note: I am not a financial expert or a cryptocurrency advisor. NEVER invest money you can’t afford to lose in cryptocurrencies. Consulting with a legitimate financial expert before investing in cryptocurrency.

Buying XRB

If reading this Nano coin tutorial up to this point has piqued your interest in the Nano coin even more and you’re already thinking where to buy XRB, read on!

For the sake of clearance. I’ll segment this next part into two steps.

Step 1: Wallet

The very first thing that you’ll need to figure out before venturing out and buying Nano coin is the right wallet to use.

Naturally, it might be difficult to pick the right wallet for your cryptocurrency. However, you should focus only on one thing – security. If a wallet isn’t secure, then nothing else matters.

Most of the cryptocurrencies out there have their own, designated wallets. Nano coin is no exception – the Nano wallet is a great choice if the Nano cryptocurrency in the only one that interests you. It’s safe, open-source and you can use it anywhere in the world.

Step 2: Acquiring ETH or Bitcoin and Buying Nano

Well, not necessarily ETH… But that’s the most optimal way to go about it.

You see, it isn’t possible to buy Nano coin with fiat currencies. The network simply does not support that option. Instead, what you should do is find a reputable cryptocurrency exchange platform and buy some other cryptocurrency (preferably Ethereum or Bitcoin) with fiat currencies and then use that to buy Nano.

A good option would be Binance, Luno, Kucoin, Remitano, and LocalBitcoins. If you don’t hold any Ethereum or Bitcoin, you could buy it there and then use it to purchase Nano cryptocurrency straight into your wallet. Binance has proved its legitimacy as a crypto exchange platform many times already – they have low fees and fast transaction speeds.

If you do have Ethereum, however, then this makes things a bit easier. All you need to do is use the same crypto exchange to purchase Nano coins and that’s it – all that’s left to do now is wait until they appear in your wallet!

Nano coin, as a cryptocurrency platform, has very specific and straight-to-the-point goals. Ultimately, it aims to make peer-to-peer crypto trading fast and fluid. This isn’t achievable with the old versions of blockchain, but Nano coin offers a solution. The merging of blockchain and the DAG systems seems to be a great way to solve these problems.

People who are thinking about investing in Nano coin (and cryptocurrencies in general) should do extensive research on the topic. And I don’t mean only reading the latest news or watching the price charts of the past couple of weeks. You should get to the bottom of the matter – a good way to go about it is to listen to crypto experts and other, fellow enthusiasts.

Conclusions

If nothing else, cryptocurrencies like Nano prove that the crypto technology is constantly advancing and moving forward. Even after the infamous market crash of the end of 2017 – the beginning of 2018 didn’t shun people away – on the contrary, more and more people seem to take interest in the world of crypto. With that, new challenges arise every single day – cryptocurrency platforms and the teams behind them must keep constantly advancing and developing.

One of the best features that Nano coin provides is that it is simple. And by no means do I mean that from a technical standpoint – it’s as complicated as the other cryptocurrencies out there. No, what I mean is that it has very clear goals and tasks in mind, straightforward ways to achieve them and a good leader and team to back it up. With such a combo, the coin may reach interesting hights in the future to come.

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Exchanges

How to Trade on Binance P2P: The Complete Guide

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How to Trade on Binance P2P: The Complete Guide

Today, I’m going to teach you exactly how to trade on Binance P2P. buying and selling cryptocurrency can be demanding, so it is essential to pick an exchange that you can rely on. It’s additionally important to find an exchange that meets your requirements and isn’t as well made complex to trade. There’s absolutely nothing worse than opening up an account on an exchange and afterward finding it difficult to know just how it functions.

If you’re thinking about opening an account with Binance, then read on…

In this Binance tutorial, I’ll teach you everything you need to know about how to use Binance. I’ll show you how to sign up, how to trade on Binance.

Binance was founded by Changpeng Zhao in China in 2017.  Binance is the world’s largest cryptocurrency exchange by trading volume as well as customers and its cryptocurrency called BNB.

The cryptocurrency exchange first started as crypto-to-crypto exchange before including fiat currency to trade.

currently, now Binance supports 24 different fiat currencies. Binance P2P users can now trade major cryptocurrencies such as Bitcoin (BTC), Etherum (ETH), Binance coin (BNB), Binance USD (BUSD), Tether (USDT), with fiat currencies including Nigeria Naira (NGN), Chinese yuan (CNY), Russian ruble (RUB), and Vietnamese dong (VND), with zero transaction fees.

Note: Fiat currencies are the official currencies of nations.

Customers can upload trade promotions to buy and sell crypto-asset utilizing 24 fiat currencies with absolutely no ad or transaction costs on the Binance mobile app and web.

What is Binance P2P trading?

Binance P2P (Peer to Peer) trading is also referred to as P2P (customer to customer), or (Business to consumer) trading. A peer-to-peer (P2P) trading is a decentralized system where two individuals communicate straight with each other, without intermediation by a third party. Instead, the buyer as well as the seller negotiate straight with each other through the P2P service.
P2P exchanges permit the individuals of the marketplace to trade straight with each other with relying on third party to refine all trades.

Binance is a blockchain ecosystem exchange comprised of numerous arms to offer the higher mission of blockchain improvement and also the liberty of money. Binance Exchange is the leading international cryptocurrency exchange by trading volume, with customers from over 180 countries and regions.

Advantages of Binance P2P trading

Here are several of the advantages that you can anticipate from Binance P2P, which we believe can be the most effective peer-to-peer crypto platform for you.

1. Trade with privacy

Since buyers and vendors alike are proactively looking for people to match their order, a third party is not needed in peer to peer cryptocurrency trading. This supplies the advantage of privacy. Considering that no third party is entailed, just the customer and seller discuss. Interaction between both celebrations is maintained personal.

2. Binance P2P industry is cost-effective and also secure

Binance P2P offers the system for validated buyers and also sellers to broadcast their offers, and a crypto escrow service to ensure the security as well as timely distribution of crypto assets in every trade.

3. It’s very easy to run your own crypto trading procedure with Binance P2P

With the new promotion uploading function on Binance P2P, you now have a lot more methods to buy and sell your crypto asset past the usual trading platform. If you wish to establish your fiat-to-crypto price for the tokens you hold, you can establish an offer with just a few faucets on the web or Binance’s application.

4. Binance P2P supports numerous money, both fiat, and also crypto

Binance P2P is one of the fastest-growing P2P platforms today, with brand-new attributes and improvements released on a regular basis, such as the recent P2P advertisement function. currently, they support 27 fiat currencies and also six cryptocurrencies.

Before you can start trading, you need to first open an account…

How to Open an Account

Step 1. Get registered: First thing’s first, you’ll need to trade on Binance is how to get registered! Go to Binance website, on the homepage click Register. By registering through this link you earn 5% commission every time you make a trade. Click here to register.

How to Trade on Binance P2P: The Complete Guide

 Step 2. Enter your Email and Password: Once you click on register, You’ll be redirected to the registration page where you’ll need to enter your email address and create a password.

How to Trade on Binance P2P: The Complete Guide

Tick I am over 18 and I agree to Binance’s Terms and click Create account.

in the Referral field Use this code to get 5% commission kickback: YHM0FJ5I

Step 3. Verify your email: You will be asked to verify your email. Go to your mailbox, copy the verification code and past it in the Verification field

Congratulations! You’re a Binance account holder.

Step 4. Protect your account: When your login for the first time, you’ll be asked if you want to set up 2FA.

How to Trade on Binance P2P: The Complete Guide

After you’ve set up 2FA, you’ll be ready to fund your account.

How to Fund an Account

After creating an account, you need to fund your Binance account before you can start to trade.

Step 1: Login to your Binance account. On the homepage, you will see I want to spend, in the field box, fill in the amount you want to spend, and the currency you want to spend.

How to Trade on Binance P2P: The Complete Guide

 

Step 2: Input your amount. Once you have fill in the amount you want to spend, then choose the cryptocurrency you want to buy under I want to buy.

Step 3: Select the cryptocurrency you want to buy. After selecting the cryptocurrency you want to buy, click on Buy BTC

How to Trade on Binance P2P: The Complete Guide

Step 4: Select your payment method. You’ll be redirected to the Payment page where you’ll need to select the payment method you want to use.

How to Trade on Binance P2P: The Complete Guide

After selecting the payment method, click Buy BTC

Step 5. Make your purchase. Once you click on Buy BTC, you will be taking to the marketplace if you select P2P payment method but if you select Bank Card payment method, you’ll need additional information before you can fund your account to start trade:

  • You will choose your nationality
  • Select your estimate investment amount and
  • Then click confirm

Step 6. Review. Your account will go through review if your payment method is Bank Card. you will be review to know if you are eligible to use the payment method and it can take up to 2 hours in some cases to be reviewed.

Note: Please that if you select the P2P payment method, you will not have to pass through this process. You will be taken to the marketplace where you make your purchase from any merchant you want.

To create a trade on the Binance P2P platform:

  1. You will need to complete your Level 2 Identity Verification
  2. Post an advertisement

How to Trade on Binance P2P

Step 1: Login to Binance. on the homepage at the top, select spot,  a drop-down menu will show with different types of trading platforms. for the sake of this tutorial, I will use P2P you can choose anyone.

Step 2. Choose P2P: once you have select spot, click P2P, you will be directed to a new page where you can make trade

Step 3.  Select the cryptocurrency you want to buy or sell. Select the fiat currencies and cryptocurrencies you want to buy or sell. Binance P2P currently supports BTC, ETH, USDT, BNB, BUSD, and EOS against 24 currencies.

Step 4. Place your trade. once you have selected the cryptocurrency you want to buy or sell, choose any of the merchants of your choice you want to make trade with, and place your amount and the fiat currency

Step 5.  Click Buy BTC. Once you place your order, a successful message will pop up that your order was successful. You will be directed to the next stage where you will make transfer, click on transfer next.

Step 6. Click confirm. Before you click on confirm, you will need to make a bank deposit to the account number given to you. Once you are sure you have done the transfer, click transfer, Next and confirm to confirm that you have completed the payment.

Once your payment is confirmed. Congratulation you just made your first trade. You can read Binance Exchange: 10 Interesting Facts You Need to Know! You can follow us on Twitter, Pinterest Facebook, and LinkedIn

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Guide

The Best Way to Grow Cryptocurrency

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The Best Way to Grow Cryptocurrency

The best way to grow cryptocurrency is to learn how to invest in cryptocurrency.

You may be thinking is not the best time to invest, but really, you have to be discipline enough to hold on to the money you earn.

Investing allows you to significantly grow your cryptocurrency over time.

Example:

If an amount of $5,000 is deposited into an exchange at an annual interest rate of 5%, compounded monthly, with additional deposits of $100 per month, the value of the investment after 10 years is $23,827.28

If you decide to invest without monthly addition, your investment after 10 years with compounding will be: $8,235.05

Why you should invest

Thinking about cryptocurrency investment for the first time may look like such a daunting prospect, especially in the absence of investment advice. The good news is that times have changed now and there is more information than you might consume and there are fewer entry barriers than before.

For instance, Binance, the leading digital exchange, has over 30 million investors who can buy Bitcoin, Ethereum, Litecoin, Binance cash, and Bitcoin Cash at the snap of a finger. There are many market investment funds that give potential investors easy access to different cryptocurrencies. There has never been a time when investing in cryptocurrencies was so straightforward for anyone who didn’t know where to start.

When should you invest

Now that you know why you should invest, when should you invest?

Now is the best time to invest. Right now.

Investing involves risk. we’re all heards about investors who lost half or almost all of his/her money to scam. You can never eliminate risk entirely.

You can significantly reduce risk if you invest wisely.

Short-term Investment

Should you invest in cryptocurrency for the long-term or short-term? well if you look at the growth of cryptocurrency over the past 7 years, it’s clear that holding cryptocurrency seems like the best option.

What is short-term investment?

short-term investment is an investment that’s expected to be held for less than 12 months.

Short-term investing in crypto involves buying up bitcoins when their price reaches a low point and then holding on to it, waiting for the price to go up enough to fit your investment strategy.

When the price is high enough, you sell the bitcoins and pocket the profits. You use that money to buy more bitcoins or some other cryptocurrency to flip (sell) when the time is right.

You have to know a lot about the cryptocurrency market. Also, you must follow every piece of crypto news religiously. You have to be able to predict how relevant news will affect bitcoin price.

Long-term Investment

Investing in bitcoin for the long term would be similar but also different.

This simple means to hold on to your investments. Instead of sitting at your computer all day analyzing charts-you can sit back relax and wait for the price of Bitcoin or cryptocurrency to rise.

You have to hold on to bitcoins for more than a year before you sell for it to count as a long-term bitcoin investment. However, you still need to follow the news to invest in bitcoin for the long-term.

When you invest in bitcoin for the long-term, you are only interested in the long term. Years and decades instead of hours and days.
After investing in bitcoins long-term, you don’t have to sit at your computer tracking the price. You won’t be selling anyway, so what’s the point?

Trading

Many people think of trading as analysis, patterns, and technical modeling, but the trader work is actually a subjective assessment of what is happening in the market.

While you may want to hold bitcoin or cryptocurrency for the long-term, you may also wish to trade them for other cryptocurrencies or fiat currency. This is the fastest way to grow your cryptocurrency, but also riskiest.

To trade for fiat currency, you can simply sell them at the current exchange rate on the exchange you bought them at, like Binance or Kucoin.

Investing in cryptocurrencies is hard, it’s difficult, it’s risky. Once you decide that investing in bitcoin is something you’d like to do after days and weeks of careful research, take a sum of money you would not miss if lost.

Never take out a loan to invest in cryptocurrency because that is a great way to ruin your life. A bitcoin investment is best made with the extra cash you can lose.

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Guide

How to Keep Your Cryptocurrencies Safe

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How to Keep Your Cryptocurrencies Safe

How to keep your cryptocurrencies safe, the first thing you would need to start investing in cryptocurrencies is to set up digital wallet.  The wallet can be likened to a bank account, which can be stored in different devices.

There are countless stories of people losing their cryptocurrencies. In mid-2013 James Howells, an IT worker from Newport, claims to have unintentionally dumped 7,500 bitcoin.

According to a research from Chainalysis, a digital  firm that studies the bitcoin blockchain, 3.79 million bitcoins are already gone for good. Safety is paramount here – you don’t want to build up a small fortune only to lose it all.

A cryptocurrency wallet is a software program that functions to store your private and public keys and interacts with various blockchains. It enables users to send and receive cryptocurrencies as well as tracking their balance.

There are many wallets out there for you to choose from, which is all dependent on your security needs as well as whether you wish to be an active trader or a more passive buy-and-hold-investor.

A wallet has a private and a public key. The private key belongs only to you, and you should never show it to anyone. You must keep it in mind as you sign all transactions with this key.

A public key is a series series of between 26 and 35 alphanumeric characters e.g.

1MJ6Lgd7oJ6LwH1M9X1aZitanHWev1vGxH

Once you have setup your wallet, you can then proceed to purchase and exchange the digital currency of your choice on any platforms.

Read: How to Invest in Bitcoin (2020)

There are hot and cold wallets. There are also warm wallets, but they are used much less often. cold wallets are used to stored money, while hot wallets are used to send and receive the currency quickly.

How to Keep Your Cryptocurrencies Safe?

There are Four main ways to store your coins:

  1. Exchanges
  2. Offline Wallets
  3. Paper Wallets
  4. Online Wallets

Exchanges

An Exchange is a digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins.

Read: The Best Bitcoin Trading Platform for Mobile Devices

This is the easiest way because you are trading your money on the exchange. However, remember that this is where most of the hacks have taken place. This is why it’s paramount that if you want to hold your coins for the long-term, you store them safely.

Offline Wallets

An offline wallet is also a cold storage or hard storage – this is where you store your private key on a special USB stick and so it is off grid. Once offline, it is almost impossible to hack. This is ideal for those who are non-tech savvy, long-term investors or “HODLers”. Many of them also have built-in backup software in case you lose your keys. These wallets use two factor authentication or 2FA to ensure that only the wallet owner can access the data.

Types of offline wallets:

  • Trezor: TREZOR is a small, key-sized device which connects to your computer with a USB cable. It stores your Bitcoin and cryptocurrency private keys offline and signs transactions.
  • Ledger Nano S: Ledger Nano S is a hardware wallet that is used for the storage of and transactions in popular cryptocurrencies like Bitcoin, Ethereum and other popular altcoins like Litecoin, Bitcoin Cash, and ZCash
  • KeepKey: KeepKey Wallet is one of the oldest and most secure Bitcoin hardware wallets in the world. Launched in 2015, the device is used across the world to secure digital coins and tokens. It does this with the use of advanced technology which protects customers’ funds from remote theft or cyberattacks. KeepKey is a cryptocurrency hardware wallet that supports over 40 different crypto assets.

Paper Wallets

Paper wallets are simply notes of your private key that are written down on paper. Unlike fiat currency, there is no physical representation of a bitcoin or most other cryptocurrencies. They will often feature QR codes so the sender can quickly scan them to send cryptocurrency. Paper wallets are different from so-called “hot wallets” because they operate separately from the Internet. This method has a large number of downsides and should not be used.  You can use sites like bitaddress.org to create a paper wallet. If you print your wallet then store it in a zip lock bag to keep it safe from water. Treat a paper wallet like cash.

Online Wallets

An online wallet is a tool that allows a cryptocurrency owner to receive and send tokens. The bitcoins are easy to spend but are maximally vulnerable to malware or hackers. Most bitcoin wallet software out there is an online wallet.

Types of online wallets:

  • Jaxx Liberty: It syncs to your desktop and your mobile phone so that you can back up the private key. Jaxx wallet is one of the best mobile wallet.
  •  Myetherwallet: MyEtherWallet is a web-based Ethereum and ERC20 token wallet that lets you get direct access to the Ethereum blockchain. This open-source wallet lets users retain their private keys, adding an extra layer of security compared to other web-based wallets.
  •  Blockchain.info:  Blockchain.info is now (blockchain.com) a Bitcoin block explorer service, as well as a cryptocurrency wallet supporting Bitcoin, Bitcoin Cash, and Ethereum. They also provide Bitcoin data charts, stats, and market information. Blockchain.info is one of the most popular crypto wallets on the market with more than 30 million registered private wallets.

Remember that a wallet can be hacked, so any hot storage option carries a certain level of risk. You need hot wallet to add money to your account on the cryptocurrency exchange and to make transactions. They are also use to participate in the ICO.

Read: How to Make Money with Cryptocurrency

If you are planning to trade with your money (not invest), then leave it on the exchange, but if you are planning to hold it longer then it worth keeping it safe in a wallet.

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Disclaimer: 9ja Informative's content is meant to be informational and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. 9ja Informative receives compensation with respect to its referrals for out-bound crypto exchanges, crypto wallet websites and affiliate links.