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Ways to invest in Nano
First, you need to sign up with either an exchange or an online broker. These services work slightly differently, though their fundamental purpose remains the same: to facilitate buying, selling and trading of cryptocurrencies like Nano.
However, your investment options aren’t just limited to brokers and exchanges. For example, you can go through a trust, or even via an ETF that holds Nano. Click the links in the below list to find out more information.
What is Nano?
Nano launched in 2015 as Raiblocks, though it is now known as Nano. It is designed to solve a major problem associated with blockchain technology: scalability. The platform uses something called a block-lattice to reduce the potential of data bottlenecks and speed up transaction times. In the long-term, the aim is for Nano to take on global payment systems like PayPal and even Visa.
If you are only just starting to learn about cryptocurrency, check out our Bitcoin 101 course for a quick overview of the basics. If you want to remain focussed on Nano, keep reading.
How to invest in Nano
The large variety of options available to you are outlined below. Click any of the links to find out more about a specific subject.
- Nano brokers. In order to purchase Nano efficiently and directly, the best option is a broker. These platforms allow you to trade Nano instantly at the current rates stated on the interface. There is an associated cost to this convenience though, with trading fees and commissions often being expensive.
- Nano exchanges. Exchanges are often cheaper to use than brokers. Think of them as giant crypto marketplaces that allow you to buy, sell and trade coins like Nano in real-time.
- Nano ETFs. ETFs are a collection of different cryptocurrencies, stocks and/or assets within a certain investment class, and they trade like an individual coin. There are very few ETFs that include Nano right now, though this page will be updated when this changes.
- Nano funds. Large institutions launch major funds for high-net-worth individuals to invest in, and there has been an increased focus on cryptocurrencies in recent years. However, Nano remains on the periphery of the investment world for now.
- Nano mutual funds. Mutual funds are very similar, though they usually require much less capital to be a part of. Investors pool their capital together, and an investment virtuoso known as a fund manager invests the money on their behalf, targeting a certain rate of return.
- Nano trusts. Trusts trade on the stock market and those that contain cryptos allow you to own cryptos through the trust. There are currently few, if any, trusts that offer access to Nano. Check back regularly to see if this changes.
- Nano debit cards. You can spend your Nano during everyday transactions using a debit card, just like you would a bank card. This means you can incorporate Nano into your daily life, making investing more practical and more rewarding.
- Nano apps. If you want to make moves on the go or from the comfort of your bed, you need a crypto app. Each app has different features, though generally, they all allow you to access and manage your portfolio via your mobile device.
- Nano wallets. To store Nano for the long term, a wallet is a good choice. They can come in hardware or software form, and they protect your coins from unauthorised access or fraud. While you can simply store coins in your exchange or broker account, a wallet provides an added layer of security.