People who are committed to digital currencies have one major problem with the state of cryptocurrencies. They can be costly for users. The problem is so bad that with some digital currencies, a simple purchase such a cup of coffee can add more than 100% to your costs. That’s not the promise of cryptocurrencies so the emergence of a digital currency such as Nano (NANO) is really a breath of fresh air.
NANO started life as RaiBlocks, but it rebranded with a renewed focus to shake up the world of digital currencies. The promise is simple as illustrated on the coin’s website: digital currency for the real world – fast and free way to pay for everything in life.
That positioning has allowed NANO to offer instant transactions, zero fees and a platform that in the developers’ own words, infinitely scalable.
NANO has tapped into the mobile ecosystem and offers wallets for both iOS and Android. Users can download the NANO’s iOS Wallet Beta or Android Wallet Beta. Both have been developed with a modern and efficient UI that lets users send and receive payments from anywhere in the world.
But NANO isn’t just about facilitating transactions. The coin has a built-in incentive component for desktop users. NANO lets users who are keen on managing their coins locally do so by downloading its desktop client. This lets users manage their Nano (that’s what the coins are called) locally in a secure and accessible way.
The actual application of NANO is what is really driving interest in the coin. Due to its zero-fee structure, NANO is fast becoming the digital currency of choice for traders. NANO has somewhat better application over a larger number of micro transactions. NANO can be used to pay for rent or even sharing a taxi bill. NANO is also used to facilitate micropayments for digital assets, a major improvement on many of the digital currencies out there.
With such a wide application it is little wonder that NANO has been trending higher of late. NANO is currently trading at around $16 and is ranked number 18 on the popular Coinranking.com website. The coin is seeing 24-hour volume as high as $167M and has a market cap of $2.238B, a very solid market cap for a growing digital currency. As of the end of trading on Thursday, NANO has seen its price go up nearly 10% and is garnering lots of attention from the digital currency trading world.