Through this site, I got to know the BANANO (BAN) project that seemed really promising and interesting. Right after joining Banano's telegram groups, I started researching the NANO that I had previously known only because of my graphical analysis (usually the only thing I research about a currency before trading is whether it is centralized or not) and both nano and banana currencies have caught my attention for the reasons I will elucidate in this article.
Instant and free transactions
To begin to understand why I think these projects are so important let's talk about the key point: free and instant transactions. It can be observed in - almost - all cryptocurrencies that are mineable that the presence of miners causes inflation as well as a possibility of centralizing the creation of coins even though these aspects often go unnoticed by our eyes. NANO and BANANO have a system where, in short, each user has their own blockchain that allows quick communication between each other, without the need for miners and excluding shipping rates.
NANO wallet test speed
BANANO wallet test speed
In early 2018 NANO reached its all-time high near $ 30. The currency caused a stir in the market because it had instant and free transactions, which would solve the problem Bitcoin was going through at the time: expensive and extremely time consuming transactions. During that the hype that the community had with the coin was so much that the community began to say that this would have arrived to replace the bitcoin; Although I find the system developed by the nano revolutionary, I do not believe that statement.
NANO's price since that time has been falling until it began to float close to $ 1. Below is the current price of NANO:
Banano, for its part, had its launch in 2018 and picked a top high of $ 0.002574 in April this year and has a very interesting price fluctuation. After failing to break through the key resistance has entered a downward trend that can be observed so far, this follows the fall in the volume of trading the currency has. What could reverse the situation would be the listing of the currency in other exchange.
Below is the current quote of BANANO:
How to get
As previously mentioned, Nano and Banano are not mineable, and Nano has already reached its maximum offer, which consists of 133,248,290 coins. The coins were distributed through faucets, meaning it was necessary to participate in a small challenge to get the coins.
Banano as an even newer project can still be obtained through faucets or simply by interacting with the community via telegram, GitHub, Twitter and more. Banano's only problem is that it also has a mining business that, as I said above, I'm not so in favor of.
The community around these currencies is very active, always suggesting improvements.
Taking a little bit of background and telling you about my personal experience, the NANO and BANANO communities in my country have a lot of discussions, there was a guy who was asking for tips on how to take a banana in his trade, and it quickly became such a big discussion that we are now having a great time. a network where several trades will accept NANO and BANANO, thereby managing to sell at market value to a group of traders who in turn will trade the currency for personal profit. This brings benefits to all sides, these currencies become useful in everyday life where people can easily exchange their currencies for physical products, traders can settle the currency and experienced traders can buy the currency without having to pay fees for the currencies. exchange.
Another very interesting use case occurred in venezuela: a Reddit user was asking for donations in NANO to buy food for his community, promptly received 29 NANO worth about $ 77, so he was able to buy about 77kg of food, plus enough remedies to feed your downpouring neighborhood a while.
NANO and BANANO are cryptocurrencies with amazing designs, NANO bringing this technology, and BANANO being much more than just a memecoin, the community behind each other is solid and present at the essentials. It's getting easier and easier to use, but the biggest challenge for the moment is getting people to trust it, and even Bitcoin hasn't done it yet. That is, it is still far from reaching its true potential.
Don't take this as an investment recommendation, as I said in a recent post, I believe NANO will still take a while to get its value high, so if you are thinking of buying some NANO keep calm and do a lot of research in case of BANANO still has the possibility to get it for free by engaging with the community in the various portals, enjoy this moment and have fun too. Both have high potential for the long term.
Thank you for reading :D