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How to buy Nano coin online
Known as the ‘Chinese Bitcoin,’ Nano is a cryptocurrency project that is attracting plenty of interest. This page delves into the process of purchasing Nano, explaining what to consider and what to look out for.
Compare where to buy Nano coin, and open an account
Below, we have listed three of the best places to buy Nano tokens online. Click on one of them to sign up, or scroll down to continue learning about the Nano story.
How to buy Nano online – a step-by-step guide
Step 1. Find an exchange
Without a doubt, the easiest way to purchase cryptocurrencies like Nano is through an online crypto exchange. These are like giant marketplaces for cryptocurrencies and most have low fees and a good reputation. To save you from searching for the right one, we have listed a few of our favourites below. Simply click on one of the links to check them out:
- Binance: You can’t really go wrong with the most reputable crypto exchange around. Binance’s popularity is unquestionable, and with low-fee access to a huge number of different digital assets, it is easy to see why. Create a Binance account today >
- KuCoin: With a blossoming community of crypto investors, KuCoin is a rapidly growing crypto platform that is easy to use of beginners and experts alike. Create a KuCoin account right now >
Step 2. Sign up and fund your account
Once you have selected an exchange to invest with, you need to set up and validate your account before you start investing. This usually involves providing a few basic contact details and potentially a copy of your photo ID.
Once you’ve finished setting things up, it is time to fund your account. Back in the day, crypto exchanges required you to deposit crypto into your account. However, most now accept fiat money from a bank transfer too; the choice is yours.
Step 3. Purchase
Once you have completed steps 1 and 2, your account should be primed and ready for you to purchase Nano crypto. To do this, head to the search bar in the interface of your exchange platform, then type in ‘NANO’ – the coin’s market denotation.
You will be met with a variety of pairs, and the one you want matches up with the currency your account is funded with. So, if your account is filed with GBP, find the NANO/GBP pair. Conversely, if you have Bitcoin funding your account, choose the NANO/BTC pair. Finally, enter the quantity of Nano you want, check you are happy with the price and the trading fees, then execute your transaction. Congratulations, you now own some NANO!
Step 4. (Optional) Get a suitable wallet
If you’re only interested in trading NANO, then there’s no need to set up a wallet as you’ll simply be predicting whether the price of NANO will go up or down.
However, if you are storing your crypto coins for the long term to speculate on their future value, keeping them in a wallet can make them more secure. There are lots of NANO-compatible wallets to choose from, and we’ve picked two of our favourites to help narrow down your search:
- Ledger Nano S: If you are looking for a hardware wallet, Ledger Nano S is one of the most popular on the market. It allows you to store your cryptos completely offline, safe from potential online attacks. Get your Ledger Nano S today >
- CoolWallet: Coolwallet is a physical storage unit for your crypto coins, and it also has a connected mobile app for quick and convenient access. Open a CoolWallet now >
How to trade Nano – a step-by-step guide
Step 1. Find a CFD broker
If you want to trade effectively, you need to be able to open and close buy and sell positions quickly to take advantage of market volatility. Brokers are an online service and they allow you to do this. We have listed two of the top options below for your convenience:
- eToro: Most people have heard of eToro because it is one of the world’s most popular brokers. It supports a wide variety of digital assets and has low trading fees, making it a strong choice. Open an eToro account today >
- Capital.com: Combining an AI trading assistant with great customer service and an easy-to-use interface, Capital.com is a good choice for all traders, regardless of your prior experience. Create a Capital.com account now >
Step 2. Deposit money
Once you’ve chosen a broker, you’ll need to put some cash down as a deposit. The process is fairly straightforward and minimum deposit requirements are usually pretty low, so you can start with a relatively small amount of capital. Nearly all brokers accept bank transfers and some even accept PayPal, making the process extremely convenient.
Step 3. Learn how to perform technical analysis
If you want to generate significant, consistent returns when trading, it is integral that you have an awareness of technical analysis. This is the practice of reading charts to identify the indicators and trends that tell the story of the market, allowing you to adjust your positions and make informed decisions. Check out our short-term trading course for an extended overview of this.
Step 4. Start trading
Once you’ve put down a deposit, you’ll no doubt be raring to go, though we recommend you set up a demo account with your crypto broker before you start trading for real. It’s easy to win and lose money very quickly when trading, so it makes sense to get a feel for the platform you’ve chosen as well as the ebb and flow of the cryptocurrency market.
Essentially, all you need to do is take a position on whether the price of your cryptocurrency will increase or decrease. If you think it will increase, take a long position (buy), and if you think it will decrease, take a short position (sell).
You may opt to take advantage of leverage, which is a feature of most trading platforms. Leverage enables you to put down a fraction of your trade’s total value as a type of deposit called a ‘margin.’ However, this is a high-risk strategy, so it is definitely not for beginners. Experienced traders understand this and use stop-loss orders to mitigate risk.
Should I invest in Nano?
The main topic that you should consider when asking this question is the overall health of the cryptocurrency market. If it is in the midst of a bull run, an altcoin like Nano is likely to perform well. However, in bearish market dynamics, expect Nano to lose value.
Nano makes crypto transactions fact, simple and efficient, so if you buy into the wider cryptocurrency macro story, and you buy into the DeFi credentials of Nano, it could be a project to consider closely. However, if you don’t believe cryptocurrencies are a fundamental part of the future world economy, and thus enhanced crypto transactions are not crucial, Nano may not be an investment for you to make.
If you do decide to purchase some NANO crypto, we highly recommend employing a strategy known as dollar-cost averaging. This protects your investment from volatility by extending your entry into an asset over an extended period of time, meaning you invest the same amount of money into Nano at set intervals.
- Nano is refreshingly straightforward in its objectives. Simple aim to be a fast, accessible crypto payment system is easy to grasp
- Removes scalability issues
- No transaction fees
Before we conclude this guide, here are three more questions to help you decide whether to invest in Nano.
1. Is now a good time to buy Nano?
This really comes down to your own personal investment strategy. If you plan on holding Nano for the long term, the coin’s ability to make crypto transactions fast and friction-free could allow its price to flourish in the future. Its mission is straightforward and easy to understand, meaning that if you buy into the crypto macro story and the need for improved transactions to power the economy of tomorrow, Nano could be a wise investment.
By contrast, if you are a short-term trader, these intriguing themes are not as significant. Instead of worrying about the fundamentals, you should learn how to conduct strong technical analysis so you can read the market effectively. This will enable you to make smart decisions as the price of Nano fluctuates.
Regardless of what you choose to do, make sure you keep yourself up to date with the latest analysis on Nano from our team of experienced financial experts. Click any of the links below to be directed to one of today’s trending pieces:
Nano (NANO) price continues to trade in a bull market. Here’s the next target for buyers
Nano (NANO) price has exploded this January. Should I invest in February?
2. What problem does Nano solve, and what are its investment prospects?
Nano solves the scalability issues that have plagued some of crypto’s most prominent projects, allowing transactions to happen quickly on a large scale. No longer do transactions take a long time, require lofty gas fees, or consume huge amounts of energy via a proof-of-work (PoW) consensus.
There are two many potential issues with Nano: security concerns, and the ubiquity of rivals. If Nano can prove it has not compromised on security by increasing transaction speed, it could have the product and the brand to triumph over the competition.
To find out the latest developments that concern Nano and the market it occupies, check out any of the news pieces below. Our team is hard at work every day finding the key breaking stories you need to know about when making an investment:
Litecoin, Stellar, Nano price analysis roundup
Nano has stabilized above $6 support, is it the right time to buy it?
Nano seeks a $701K sanction against Alec Otto after dropping his suit
3. Do you want to hold Nano for the long term?
There are two ways to profit from exposure to the price of NANO: holding it for the long term to speculate on its value, or trading it in the short term to capitalise on price fluctuations.
Considerations for a long term investment strategy
If investing in Nano for the long term is your goal, you should find a reliable exchange with a good track record of reliability and sign up so you can purchase NANO. Then, you may want to store it in a wallet for added security and protection from online theft.
Considerations for a short term trading strategy
For those of you who are interested in trading NANO for accelerated rewards, you need to find a broker with low fees so you don’t have your profits eaten into by regular transaction costs. You should also think about what kind of trader you want to be since there are many different types, including swing traders and day traders.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >