Do you want to learn how to buy RaiBlocks?
With everyone focused on Bitcoin, it can be easy to overlook the other cryptocurrencies out there. RaiBlocks, also known as Nano, is one currency with a unique approach to the blockchain, as well as a rapidly rising value in recent months.
Its lower initial cost makes it easier to purchase than Bitcoin, but that doesn’t mean it’s a bad bargain! This cryptocurrency has seen a lot of recent interest, making it a great candidate for sky-high growth.
Admit it: you’ve been wondering about investing in a new cryptocurrency for a while now.
There are so many news articles, apps, guides and websites out there that it can be hard to focus on just one, though.
This guide is here to help!
Let’s take a look at how you can purchase RaiBlocks, and why this new cryptocurrency is worth a look for your wallet.
You might have heard about RaiBlocks when its value increased exponentially in December 2017. Then it spiked again through January 2018. Starting at a value of just $0.25, this cryptocurrency reached nearly $35 before settling back down to around $10 in February 2018.
That lull in the excitement makes this the perfect time to get into buying RaiBlocks before its value spikes again.
This brand new cryptocurrency looks a lot like Bitcoin, Ethereum, and other currencies based on blockchain technology. However, there are a few differences. Unlike conventional cryptocurrencies, this one allows fast transfers, with no fees.
These are great improvements, given that many coins suffer from high transaction fees caused by poor scalability, and long processing times. Bitcoin, for instance, experiences an average transaction time of over two hours!
It is also a minerless currency: there’s no slow, wasteful series of mathematical transactions to perform in order to uncover new coins. This means that there is also no need to buy expensive and power-hungry mining rig hardware. RaiBlocks has a low energy footprint and all of the currency has already been placed on the market.
It’s a fact: there will never be more RaiBlocks out there that are available right now.
RaiBlocks also takes a different approach to the blockchain. Most cryptocurrencies rely on a line of blocks, one after the other, that starts with a genesis block. New ones are added at the end of the chain.
RaiBlocks uses a block-lattice, rather than a chain. That means every person with an account is maintaining a blockchain of his or her own, in which each block is a single transaction. This system decreases computing load and the risk of one user spending the same currency twice.
This structure also contributes to RaiBlocks’ high level of scalability. Other cryptocurrencies, including BitCoin, run into trouble on the large scale. It becomes hard to keep track of transactions and make transfers quickly when every node has to contain the entire ledger. Distributing the ledger means that each user maintains his or her own personal history and balance, and updates can be instantaneous.
With RaiBlocks, each transaction becomes its own block.This does mean that sending XRB technically requires two transactions: one that deducts the balance from the person sending the currency, and one that confirms receipt by the person getting it. The bottom line is that this is a fast and no-fee currency that makes transactions a whole lot simpler.back to menu ↑
Best Exchanges to Buy RaiBlocks
So you know that RaiBlocks is an up-and-coming currency with readily-increasing value, and you want to get in on the market.
Where should you even start?
Bitcoin can be found almost everywhere, but not all exchanges are going to carry a lesser-known cryptocurrency. If you’re feeling like you’re lost and confused, you’re not alone. There are a lot of people who are interested in getting into alt-coins, but they’re trapped in a web of too much information.
Fortunately, there are exchanges out there that carry RaiBlocks and a lot of other smaller currencies.
Of course, as more people become interested in RaiBlocks, the best exchange will change. It also depends a bit on your personal preferences and situation. Not every investor is going to get the same thing out of any given exchange.
These can vary a lot between exchanges and could make all the difference to your budget. More advanced buyers even move between exchanges to reduce their fees and keep more of their own money.
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Step-By-Step Buying Guide
Buying RaiBlocks isn’t much different from buying any other cryptocurrency. In effect, you’re just converting from your local fiat currency to another form of money.
So what’s all the fuss about?
Well, buying RaiBlocks, or Nano, as it’s now called, is actually easier than purchasing a lot of other types of currency. Let’s take a look.
The first step to buying RaiBlocks will usually be to get some Bitcoin, some Ethereum, or another currency accepted by your exchange.
This might seem pretty backwards, but you have to remember that most of the exchanges that carry RaiBlocks also don’t use dollars or euros.
They deal only in cryptocurrency.
There are some exceptions, like CoinSpot, which lets you buy in Australian dollars. This kind of exchange usually has higher transaction fees than one which sticks to cryptocurrency.
It’s not – if your information gets compromised, then you could lose a lot of money. Several exchanges have experienced security problems in recent years, and it’s important to do as much as you can to prevent problems.
Once you have an account ready and verified, it’s time to deposit some money. If you already have a quantity of Bitcoin or similar currency, you can move it to your account on the exchange. If you don’t have those currencies, make sure you’re using an exchange that allows fiat currency such as the dollar, then transfer from your credit card or Paypal account.
After the deposit has successfully entered your wallet, you can start buying RaiBlocks. Since this currency has only recently rebranded to the name Nano, it still uses the same ticker initials, in addition to its new ones. You can find Nano/RaiBlocks listed as NANO or XRB. Choose the currency you’d like to trade for NANO/XRB and fill in the amounts you’d like to sell.
Many exchanges will recommend a price to you, or give you the option to simply sell at the current market price. Once you’ve decided what price is fair, and you submit the trade, you should be the proud new owner of one of the hottest cryptocurrencies of 2018.
You might wonder how all that can be simpler than trading Bitcoin or another better-known blockchain currency. After all, it’s hard to buy RaiBlocks directly. The answer is simple.
The basic structure of RaiBlocks means transaction fees stay low to non-existent, and transactions happen almost instantly. Instead of paying the high fees associated with larger currencies, and dealing with the associated long wait times, you can get your trade done painlessly.
Once you’ve purchased some RaiBlocks, you’re not done, however. After all, as soon as you have money, you need somewhere to store it.
That’s right: it’s time to look for a RaiBlocks virtual wallet.back to menu ↑
A lot of exchanges will give you a wallet for your cryptocurrency, so what’s the problem?
Well, since a cryptocurrency wallet is a software program that stores your coins, it’s in your best interest to control that program.
When you keep your RaiBlocks in an exchange wallet, you run the risk of losing control over your coins. If the exchange is hacked or suddenly disappears, you could lose all your funds. That makes a wallet of your own the best way to keep your RaiBlocks secure.
This currency offers a wallet accessed from the web or a downloadable one that you can run on Linux, Windows, or Mac OSes. You can also choose from a few different third-party wallets, such as RaiWalletBot and RaiWallet.
You might also want to consider beta-testing the desktop wallet for this currency’s Nano incarnation or trying out its mobile wallet on iOS.
- Nano Web Wallet
Each kind of wallet has its own benefits and drawbacks. For instance, using the web wallet provided by the main Nano website, you have no need to download the entire ledger to your computer.
This wallet still lets you keep control of your private keys, however. The downside of the web wallet is that it’s less secure than other formats. After all, a web-hosted wallet is only as safe as the Internet.
- Third-party RaiBlocks Wallets
The two main third-party wallets are designed for different systems. RaiWalletBot is a Telegram-hosted bot that is designed to help manage RaiBlocks cryptocurrency. It’s easy to access, but it doesn’t allow you to own the keys to your wallet.
The other third-party option, RaiWallet, is a web wallet similar to the one provided by RaiBlocks developers. This wallet is also called NanoWallet, and it boasts a lightweight design with the ability to make transactions before syncing. With this wallet, you maintain control over your keys.
- Hardware Wallets for RaiBlocks
A hardware wallet is just about the safest option since it maintains no connection to the internet and cannot be hacked. Usually, a hardware wallet looks like a USB drive or credit card, but it contains its own special programming to store cryptocurrency information.
No matter which approach you take to getting your own wallet, there are a few things you’ll want to do in order to ensure your money stays safe. It’s a good idea to encrypt your wallet. You probably also want to use an additional authenticator, like Google’s, to provide extra security.
If you have a wallet that’s currently storing RaiBlocks, you can rest assured that it will still work with the currency after it has been branded NANO. All wallets and funds are remaining operational, with only the addresses changing a little. The basic currency technology underlying it all remains the same.
Once you have a wallet set up and safety measures put into place, you’re ready to start trading or paying for goods and services with RaiBlocks. If you’re not sure which businesses accept RaiBlocks, check out the services page at RaiBlocks.net. There are lots of places to use your cryptocurrency for gaming, merchandise and more!back to menu ↑
RaiBlocks Price Prediction
Of course, you might not want to spend all your RaiBlocks right away. The value of XRB has been pretty volatile lately, but the trend is definitely upward.
What does that mean long-term?
It can be hard to tell. After all, current price increases are bucking the previous forecast trend. Cryptocurrency experts have been sure that the value of NANO would continue to fall, but instead, it’s doing the opposite! For the mean time, it certainly looks as though this currency is destined to rise.
This cryptocurrency is expected to hit the top 10 for market capitalization and is expected to be a reliable option. By the end of 2018, analysts suggest that the value of RaiBlocks could rise as high as $65 USD.
What makes this so special?This currency was worth far less only a few months ago, with values below $1 for most of 2017. This kind of increase in value so quickly is very impressive, indeed.
What should you do about your own investments in light of these predictions?
Stay skeptical! While predictions about the likely value of RaiBlocks are promising, they aren’t set in stone. Keep your options open, and remember that RaiBlocks was among the most volatile cryptocurrencies of 2017.
Its value can shift a lot, and a sudden downturn may be followed by an equally sudden upturn. Don’t get discouraged if things seem to be going poorly for a little while. With its instant transferability and feeless nature, RaiBlocks is ready to keep on rising.back to menu ↑
It’s possible for entire currencies to just disappear overnight. While that isn’t very likely in the case of this one, it is still important to make sure you don’t over-commit. Make sure you plan your investments so they fit your budget. Make buying RaiBlocks a hobby, not a job!
Remember that this market operates around the world and around the clock.
What does that mean for you?
It means that you can never keep up on your own. That’s why it’s important to automate your investment strategy, allowing to take action even when you can’t be there to make a decision.
Try to keep a little extra investment money to the side, too. Why?
Since you can’t take advantage of a really great drop in RaiBlocks prices if you don’t have the funds, it’s important to save some. A little bit of wiggle room is what could let you make the most out of your investment strategy. Plus, it will keep you from feeling panicked if your favorite currency suffers a plateau for a little while.
Last, but not least, when you’re learning how to buy RaiBlocks, remember that cryptocurrency goes in cycles. The recent drop in value is almost sure to be followed by an equivalent rise, and it’s important to learn to see the patterns.
That’s the best way to buy low, sell high, and get the most out of investing in this exciting new cryptocurrency. Gradually, RaiBlocks is making its way from a low-value, practically-unknown new entry to the cryptocurrency market, to a mainstream alt-coin. You could be part of the journey!