Are you already tired of using bitcoins? It’s not just you. Cryptocurrency bull run has begun and bitcoin is now worth over $8,000! Big! Do you even understand what will happen next and what follows from this? This indicates a new congestion in the Bitcoin network. As more and more users accept Bitcoin, the number of transactions grows and the mempool fills up regularly. Do you realize? According to https://bitcoinfees.info, the current BTC transaction fee is over $4. You must wait for 6 more block confirmations after paying this fee in order for your transaction to be mined within the next 3 blocks.
In other words, it takes almost an hour to fully verify a transaction, and it costs a lot too. Do you think beginners will like it? I would like to introduce you to Nano if you don’t like how Bitcoin works. Download the Nano wallet for yourself and then send a tiny transaction to it. Its efficiency and speed will amaze you. Your transaction will be fully confirmed before you even blink. Plus, you don’t have to pay any fees to make transactions on the Nano network, as they’re practically free. Fascinating, right?
You must first have a Nano wallet in order to use Nano and learn how it works. In this quick beginner’s guide, we’ll show you how to make a simple wallet and how to store and use Nano coins in it. Here is a brief description of the Nano coin before this.
What is Nano cryptocurrency?
A peer-to-peer, trusted and secure open source cryptocurrency is Nano (formerly RaiBlocks). It is based on an open scalable DAG blockchain. Instant and free transactions in a decentralized secure network are made possible due to the characteristic block-lattice structure. You read it right, this currency is infinitely scalable, extremely fast and free.
As with cryptocurrencies, value transfer is the most common use case, and Nano excels at that. Indeed, there are no better coins than Nano in terms of payment methods. Do you think it’s possible that it can handle 7000 transactions per second? It is fully functional, very fast, free and completely decentralized. In addition to all these advantages, nanotechnology is beneficial from an environmental point of view. Anyone who uses it is amazed at how amazing the user experience is. What are you waiting for then?
Let’s set up the Nano wallet and get started. This quick beginner’s guide will show you how to create a wallet and use Nano.
What is a Nano wallet.
The Nano wallet is pretty easy to use and set up. You don’t need any guide.
Ledger Nano S is the best choice if you are really looking for the most secure wallet to store your Nano coins. By far, this is the safest place to store your bitcoins.
Try Natrium if you need a mobile wallet. This is an open source mobile wallet built specifically for the Nano coin. It is easy to use, fast, secure, reliable and compatible with both Android and iOS.
Natrium does not require any explanation for use. To complete your wallet setup, simply download the app to your smartphone and follow the on-screen instructions. Once Nano is set up, you can send and receive from anywhere in the world. The wallet is incredibly easy to use and self-explanatory.
Canoe is another wallet that we wholeheartedly support. In addition, it is an open source wallet that can be used on both iOS and Android devices.
Online and desktop wallets.
There are several online wallets that give you complete control over your money without requiring you to download a registry, in addition to hardware and mobile wallets.
Several desktop wallets are also available if you prefer local Nano management.
All desktop wallets guarantee you full control over them, provide a high level of security and are open source.
Let’s now see how to install and use the Nano desktop wallet.
Nano wallet setup.
We will be using the Nano Vault wallet because this tutorial is for beginners. Why then NanoVault?
The open source wallet for the Nano coin is called NanoVault. It is a fully signed Nano transfer/receive client wallet and is easy to use. Windows, Mac and Linux operating systems support it.
NanoVault is a thin wallet unlike Nano Wallet which is a full node wallet. Now you can check your balance and make transactions without waiting for the wallet to sync and the ledger to load.
NanoVault is the perfect starting point for beginners. It’s incredibly easy to use, secure, provides convenient storage, and gives you control over your private keys.
Run the wallet setup after downloading the most recent version. Add an application to the exclusion list if Windows Defender or another antivirus product blocks it. The alert you are getting is a false positive because this wallet is the most secure.
After the installation is complete, you need to set up the wallet.
Nano wallet configuration.
Click “Setup Wallet” on the main wallet screen. There are two options available, including “Create a new wallet” and “Import an existing wallet”. Click “Create New Wallet” as this is a new configuration.
A new Nano seed will be generated when a new wallet is created, and this seed can be used to create new accounts (wallet addresses) on the Nano network. The main key to all your accounts and money on them is your Nano seed!
Be sure to write down and save in a safe place the backup original phrase. Once created, it is impossible to restore it, and without it, all the money will be inside! We have warned you!
You will be provided with a seed phrase and a mnemonic phrase for your wallet once you click the Create Wallet button. Take care to record both details securely and keep them secret from everyone. If you lose the master key, all nanocoins in your wallet will be lost.
OK! Click “I’ve saved my seed/mnemonic” once you’ve saved this information safely.
Set a strong wallet password on the next screen, which is required as it is used to encrypt your wallet.
That’s all. Your wallet setup was successful. It’s time for you to transmit and receive the Nano.
Using Nano Wallet.
Let’s see how to use your wallet now that it’s set up. Using NanoVault is very easy. As you can see, the wallet has a simple design and only 4 options in the main menu, including:
Send, Address Book, Accounts and Settings.
Since this is what you see in any QT bitcoin wallet, we don’t think you need further explanation.
Go to the accounts page and select “Copy account address” to get your XRB/Nano account address. Click “Add New Account” to create a new pickup address if nothing is specified.
On the Nano network, each new account has a unique address. The Nano address also has a slightly different appearance than Bitcoin and other cryptocurrencies. Usually the address starts with XRB_ or NANO_.
Nano can be bought on Binance. However, you don’t actually need to buy from an exchange to get started and learn how things work. Instead, there are a number of online Nano faucets that will send you some Nano for free.
Keep your wallet open to see how it works before you click “Send Nano”. Click “Submit” again to complete payments in seconds. Impressive, right?
However, we are not finished yet. Nano is not only fast, but also free. You can mail any number of Nanos to anywhere in the world. You are not charged. constantly. Do you really not believe?
Simply click “Submit” in your wallet and select “From the account” that Nano is currently in. Now take the address of another account that you own and copy it from the accounts page and then enter it into the “For each account” form. Then enter the desired amount and select “Send Nano”. You have the exact amount, am I right?
Well, Nano is the mainstream. We really hope this guide has been helpful to you as you start using your Nano wallet.