Hi everyone, first post here on my first blog. Not a financial advisor or telling anyone what to buy, just my personal perspective on what seems to be a lesser-known coin. This is not an in-depth technical analysis.
As a new crypto investor, it is common to seek investing advice online. Getting introduced to cryptocurrency earlier this year, I have experienced this very thing. You want to know which coins to invest in that have the brightest future, the most innovative technology, or even just whatever coin will make you rich. All the big media outlets talk about Bitcoin (BTC) Ethereum (ETH) and now even Dogecoin (DOGE) and all the hype surrounding them. These coins have increased in value hundreds of percent this year, how high could they go? With already multi-billion dollar market caps, gaining another 800% increase in value anytime soon is hard for me to believe.
This is what led me to start researching smaller market cap coins. By smaller market cap, I don't mean only going so far as discovering some of the Reddit gems such as Cardano (ADA) or Algorand (ALGO) whom also have market caps in the billions. It is important for new investors to realize that just because a coin is priced at under $5, doesn't mean it could become the next Bitcoin by the end of the year. For the price to double, the market cap has to double. I was looking for coins with a market cap under 1 billion.
This quest of research is what led me to Nano (NANO). Nano is a coin designed to be a energy-efficient, medium of exchange, with get this NO TRANSACTION FEES. Nano accomplishes this by utilizing a very different design than traditional blockchains. Rather than relying on mining like most cryptocurrencies, Nano uses something called Open Representative Voting (ORV) to run it's network. This system gives Nano holders power to control the representatives' (people who run nodes) authority to vote, and the more Nano a user holds, the more power they give to the representatives.
Now for those are you like myself who aren't so keen on understanding blockchain technology, reading how Nano's network operates may not mean a whole lot to you. But for Nano, the proof of it's potential uses in the financial world lie within simply using it. The first time I sent some Nano from an exchange to my wallet, I could not believe how easy and quite literally INSTANT it was, not to mention it being completely feeless. People constantly complain about how long Bitcoin Transactions take or the extremely high gas fees for Ethereum as if they are just necessary evils but Nano seems to be free from both of these issues. My experience with sending a friend some Nano was faster and easier than any bank transfer or PayPal transaction and to an average person like me, that means something.
With all this talk of Bitcoin adoption, I can't help but imagine the awkward scenario of buying a coffee with a mobile Bitcoin wallet at Starbucks and waiting possibly 10 minutes for the transaction to clear on top of paying a fee. What would be the motivation for the average person to chose that method of payment over just swiping their credit card or just using cash? I see Nano as a solution to this issue because its the only crypto I have ever actually used that is even quicker than using a credit card. This shows Nano has an extremely high utility with a relatively low market cap. Although, Nano doesn't have things like smart contract capabilities, it does one thing extremely well: currency.
With a seemly knowledgeable development team, a great community, and tons of fun and free ways to earn and access it, I just can't believe how Nano isn't a bigger deal in the crypto space. Below I will list some helpful links to help anyone learn about Nano or fun ways to earn it for free.
Nano website - https://nano.org/
General Information on Reddit - https://www.reddit.com/r/nanocurrency/
Nault Wallet (Easy to make and use Nano wallet) - https://nault.cc/
Fun ways to earn Nano:
Nano Browser Quest (browser based Nano RPG with payout at the end) - https://nanobrowserquest.com/
WeNano (Pokémon Go like phone app with Nano hotspots) - https://wenano.net/
Quakejs (Play Quake 3 in your web browser and get a small payout for each kill) - http://www.quakejs.com/
List of Nano faucets (one time or daily Nano payouts when you enter your wallet address) - https://bestfaucetsites.com/direct-list/nano-faucets
Thanks for reading my first post if you got this far. Feel free to leave a comment below to tell me it it sucked or not. Always open to constructive criticism.
Have a good one,
Crypto Creech