NANO is a cryptocurrency which many can consider immaculate. For instance, the Nano blockchain does not have fees, so all transactions are processed without imposing any charges on the users. Additionally, Nano transactions take less than 5 seconds to complete, which greatly facilitates trading. These two characteristics are particularly enjoyed by merchants who accept NANO as payment for their products and services.
NOWPayments has several tools for accepting NANO that any business can deploy. Moreover, those companies that still wish to receive their payments in fiat can easily enable the NANO crypto-to-fiat conversion feature. Similarly, businesses that wish to get NANO while accepting fiat can easily do it with the help of NOWPayments.
Key Points:
- NANO is a coin that has rocket speeds and zero fees.
- Merchants that wish to accept NANO payments can do it through a fiat-to-crypto solution.
- NOWPayments’ crypto-to-Nano feature is easy to enable.
What is Nano? Advantages of Nano
About NANO
NANO is a cryptocurrency that was launched in 2015 under the name RaiBlocks. Eventually, the coin was rebranded and became what it is known as today, NANO. The Nano blockchain runs on a cutting-edge technology of Direct Acyclic Graph (DAG) which was developed to facilitate the process of on-chain transactions and significantly boost the efficiency of network operations. The technology called the Block-lattice involves granting each network user their own chain where they have the ability to write their transactions.
At the same time, every user keeps a copy of other users’ personal chains. Thus, in order to conduct a transaction, two actions must be performed. First, the sender must publish a block debiting their account for a certain amount of money. Secondly, the recipient should publish a block crediting their own account for the money they have to receive. Thanks to this methodology, the Nano public ledger is hard to beat in terms of the speed of transactions.
NANO is green
Climate issues are extremely topical these days, and they are certain to become even more of a problem in the near future. NANO was designed with sustainability in mind; therefore, the coin can easily be considered one of the greenest in the industry. Nano relies on a Proof-of-Stake protocol which does not require any enormous computational power and subsequently ungodly volumes of electricity. Nano is so efficient that 6 million NANO transactions consume the same amount of energy as one Bitcoin transaction. Such an incredible performance makes NANO an ideal candidate for the currency of the future.
Fees or rather no Fees
As mentioned above, NANO does not charge its users any transaction fees. It is hard to believe, of course, but it is a reality. Unlike banks that never miss an opportunity to subject their clients to paying another fee, Nano values its users and ensures that they have the best experience possible when using the blockchain. As a result, merchants that accept NANO as payment can significantly reduce their expenses in terms of fees and save a small fortune annually. Streamers, bloggers, and non-profit organizations also can greatly benefit from NANO and accept donations in this coin and thus get more money in their pockets.
Instant
NANO coin transactions are by far among the fastest in the industry. Perhaps, it is even hard to find any other digital asset which could boast similar settlement times. A Nano transaction takes mere seconds and can arrive even in less than two ones. A similar performance can only be observed in Visa and Mastercard, yet it is important to note that these payment processors are heavily centralized. Nano, on the other hand, is a decentralized technology.
Decentralized payments
Decentralization is at the very core of NANO, and the team of developers went to a great length to maintain it. Nano users do not need to share their personal details with third-party services. Moreover, they cannot be denied access to the Nano blockchain because there is no central authority on the network. Nano, just like any decentralized ledger technology, does not have the problem of chargeback fraud, which is a substantial issue for merchants. Once NANO is sent to an address, the transaction cannot be reverted.
How to let customers pay fiat and get Nano
It is clear that NANO is a popular asset, and there are many entrepreneurs, merchants, business owners, and freelancers that wish to get Nano as payment. Yet, the current market circumstances show that cryptocurrencies are not a very common payment method.
NOWPayments has developed a special solution for everyone that wants to be paid in NANO. The fiat-to-NANO feature available to every partner of NOWPayments allows businesses to charge their clients in fiat currencies and get their payments in NANO.
In order to enable the fiat-to-NANO feature, several steps should be taken:
- First, you need to set up an account with NOWPayments on the official website of the service.
- Then, in the settings section, you need to specify your NANO public address to which you would like to receive payments.
- In order to charge your client in fiat and receive crypto, you will need to simply issue an invoice and let the customer pay with a traditional currency.
- Moreover, if you use an e-commerce CMS plugin, the fiat option will be available for your clients automatically.
- To pay with fiat, your client will have to pick USD at the checkout.
- hen, they will be redirected to the “Buy crypto” page of Mercuryo, our partner, where they will be able to pay with fiat.
- Once the sum gets paid, we convert it automatically to NANO and send it to the wallet specified in your account.
Those who wish to charge clients in crypto and receive fiat also can enable such a feature. NOWPayments will be more than happy to exchange your crypto for US dollars using a SEPA transfer.
Conclusion
It is hard to find a coin like NANO. The mind-blowing speed of transactions and zero fees make NANO a perfect method of payment. Unfortunately, not everyone is willing to pay in NANO. Nevertheless, NOWPayments’ fiat-to-NANO feature makes it extremely easy to be paid in NANO no matter where you live or what you sell.