What was “Raiblocks” became NANO on January 2018 due to pronunciation difficulty. Apparently, there was confusion as to how the crypto company is pronounced correctly.
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NANO wants to solve three most common challenges bitcoin is facing – fees, transaction time, and high energy consumption (miners). With NANO, you have fast transactions at zero fees. This is because NANO is using block-lattice structure. This structure has its own blockchain for every account.
A good example of this block-lattice structure is when Person A wants to send Person B an amount of 1 XRB. Person A needs to set up his account to send. Person B has to set up his account to receive. By doing this process, NANO is minimizing the use of “mining”. This, in turn, removes the fees and making transactions instantaneous.
The price of XRB on December 1, 2017, is around $0.20 but it shoots up to $34.43 (and its highest) on January 2, 2018. At the time we write this, the value of XRB is around $3.06 (September 2018).
How to buy NANO in the Philippines
Step by Step Guide to Buy NANO from the Philippines Using Binance
- Register at Binance here.
- Send bitcoins from Coins.ph to your BTC wallet in Binance.
- Go to Binance’s NANO page by searching NANO on Binance’s homepage.
- Purchase NANO with your Bitcoins.
- Click here for the steps in purchasing altcoins on Binance.
*Note: Some cryptocurrency exchanges uses XRB or NANO as the ticker.
You can only have NANO by exchanging your Philippine Peso to bitcoin and using BTC in crypto exchanges to trade XRB.
What if the exchange does not accept new users?
With the increase of cryptocurrency traders, some virtual exchanges sites are turning off registrations. If this is the case, you can use other exchanges that you trust. The interface may be different but the process of buying, trading, and selling coins are almost the same.
Recommended NANO / XRB Wallets
Can I send my NANO back to Coins.ph or Bitbit?
NANO is the cryptocurrency that uses the block-lattice structure. With a blockchain unlike that of the others, a lot of crypto enthusiasts are taking and considering this new coin for usage and as a store of value.