The crypto markets have once again given us hope and reminded us why we love and believe in this industry. Looking at the charts, we find that most of our favorite digital assets are in the green and led by Bitcoin (BTC). The King of Crypto has regained some value and is currently trading at $6,373 at the moment of writing this. XRP has exploded due to the xRapid hype and NANO price has also rallied by 5.2% in the last 24 hours. The latter digital asset is currently valued at $2.37 but the price will not be this low for too long as shall be explained below.
Unbeknownst to many, the NANO cryptocurrency is a fee-less and fast digital asset that has wallets in the multiple platforms of Android, iOS, Windows, Linux and on nanowallet.io. This type of wallet support is unprecedented in the crypto-verse for any one project. Add the fact that transactions are free, we sort of forget about XRP for a minute with its $0.0004 transaction costs. Free is good! Free is better!
NANO is ideal for micropayments such as tipping on Twitter and Reddit. There is also the possibility of NANO making anexcellent base currency for crypto exchangesdue to its zero fees. As a matter of fact, KuCoin has updated NANO to KuCoin Plus Trading Area. The announcement was made by the exchange on the 17th of September and it stated the following:
“KuCoin is dedicated to creating a healthy exchange ecosystem, investigating high-quality projects and utilizing resources to better serve our users. We have been closely monitoring and analyzing all the projects in the KuCoin Plus Trading Area. Based on our comprehensive assessments, we have made the following adjustments: DCC, AOA, ITC, LYM, OLT, TRX, ONT, DCR, NANO and ZRX have been promoted to the KuCoin Plus Trading Area.“
Such an announcement should boost the price.
The NANO community is one of the most enthusiastic communities in the crypto verse. They have even led the adoptionof the cryptocurrency by creating a localNANOs.complatform that borrows its idea from the famous localBitcoins.com. The platform is in its testing phase and will eventually become a portal where you can exchange NANO on a peer-to-peer level.
There is also localNano.com (without an ‘s’ at the end) that promises to allow you to buy NANO with cash, bank transfers, SWIFT, e-money, Visa, Mastercard, gift cards and even set your own escrow service.
Checking the one year chart of Nano we find that the digital asset peaked to $36 in early January indicating that it has potential once the crypto markets are stable and with a strong Bitcoin to lead the pack. But the way things are going with it– as can be seen with the technical developments – its price action might be less tied to that of BTC in the future.
We might find a situation where NANO is less affected by the volatility of Bitcoin (BTC) in a manner similar or greater to how XRP has wowed us with 18% gains in the last 24 hours and due to xRapid.
In conclusion, NANO is a gem that is hiding in the number 27 spot on coinmarketcap.com. For the few who are HODLing, they have seen the future in terms of a fee-less cryptocurrency and the flexibility available with the NANO ledger. If you have not researched on NANO, now is the time to start doing so. It might be a safer bet than Litecoin (LTC).
Check out the latest video from our Editor In Chief on the Crypto Rich show!