The world has come a long way, and so have science and technology. One of the significant changes that we have seen in the past couple of decades is how there has been considerable growth, or change, in the economy of the world.
You must have already understood from the name of the topic that I am talking about cryptocurrencies. These are the digital tokens or currencies that are made with the help of computer programing and blockchain technology, specifically with the use of blockchain.
There are many types of cryptos or cryptocurrencies in the world at present. Among them, I will be comparing the two. This article is all about Nano vs bitcoin.
So, if you are interested to know more about these two and find out which is the one that you should be investing in, keep reading this article till the end…
Bitcoin: A brief Guide
Bitcoin is a decentralized and unregulated cryptocurrency or digital token that has been around since 2009. The talented software tech Satoshi Nakamoto was the one to design it and introduce it to the market.
These digital tokens are created with the help of a process called mining. Unlike NFTs, this digital currency does not have a unique identification code. This means that you can easily trade one Bitcoin for another.
While most investors prefer it, there is one major problem that remains with Bitcoin. And that is with the transaction time. The time it takes for a Bitcoin transaction ranges somewhere from 15 minutes to more than an hour at times.
Nano: A brief Guide
Similar to all other cryptos, Nano is an open-source cryptocurrency. Colin LeMahieu launched this digital token in the year 2015, years after Bitcoin had already taken a major portion of the market.
One of the major reasons why interested investors started flocking toward Nano is because it addressed the one crucial problem of Bitcoin. This was the scalability problem of Bitcoin. In order to solve this issue, Nano claimed that it is one of the fastest cryptos in the world.
However, it became the real problem solver when it was seen that time taken for transactions as well as the transaction fees of the Nano cryptocurrency is much lesser than Bitcoin.
Fun fact: The time it takes for a Nano transaction to take place is less than 5 seconds.
Nano Vs Bitcoin: What Is Good And What Is Not About Both Of Them?
Before investing in cryptocurrencies, it is best to know about the pros and cons of both. So if you were looking for the positive and the negative factors of Bitcoin vs Nano, you have come to the right place. Keep scrolling down.
Pros: What Is Good About Nano?
- There are no or very few issues in scalability.
- The fees for transactions are very less compared to most cryptos.
- It is a sustainable and eco-friendly alternative to Bitcoin.
Cons: What Is Bad About Nano?
- The market capital of Nano (241,364,045) is much less than Bitcoin (402,185,589,400).
- The transactions made with Nano are not much secured.
Pros: What Is Good About Bitcoin?
- The anonymity of the user is maintained.
- The security of bitcoin transactions is very high.
- This is one of the most versatile and accessible currencies in the world.
Cons: What Is Bad About Bitcoin?
- The market and the price of Bitcoin are very volatile.
- As there is not much government regulation, there is no guarantee related to the minimum value.
- There is a large-scale scalability issue with bitcoin.
Where Should You Invest Between Nano Vs Bitcoin?
While it may look like a walk in the garden or park when investing in Nano, the method is not that easy. No matter which digital token you are investing in, you have to make sure that you are clear and ready to take the risk that is related to the market.
One of the major reasons for that to happen is because the nature of the cryptos in the market is very volatile.
Here is a quick comparison of Nano vs Bitcoin that might help you to decide which one you should be choosing between the two to invest in:
|402,185,589,400||Market Capital (USD)||241,364,045|
|0.0307479||1 Hour Change||-0.0499|
|-0.394||1 Week Change||2.858|
Frequently Asked Questions (FAQs)
Both Nano and Bitcoin are cryptocurrencies, and needless to say, both of them are very famous at present. However, while Bitcoin has been around for longer and is known for providing great security to investors, people are getting more and more interested in Nano.
The reason behind that is because of its faster transaction methods. Nano is also a more flexible, easier, and affordable option when it comes to investing in it.
As there is always an improvement in technology, it is quite possible that there will come a time when you may see that Nano has overtaken Bitcoin. The fact that the market and interest of people who are interested in Nano is increasing day by day.
There are many cryptocurrencies that are available for the users and investors on the market at present. Among them, Nano claims to be the fastest digital token or currency that exists in a decentralized model. And one of the main reasons why it is the fastest is because of its block-lattice technology of blockchain.
Wrapping It Up!
The world is changing, and we are all surrounded by technology of different kinds. There are many kinds of cryptos that are available at present. Some of the most common and popular ones are Nano and Bitcoin.
Investing in either of them can guarantee that you will make profits. However, which one should you stick to?
In case you were searching for the comparison between Nano vs bitcoin, I hope that you found this article to be of help. Also, if there are any other queries related to the same topic, feel free to comment them down in the box below.