Lesson 2: How To Buy NANO

Great to have you here! This is the second lesson of a series of super easy lessons that will help YOU getting started with cryptocurrencies.

Currently, these lessons are available, be sure to start with the first one and check back for new lessons coming up!
Lesson 1: Getting started with NANO (online since April 14, 2018)
Lesson 2: How To Buy NANO (see below, online since April 22, 2018)
Lesson 3: How To Get Free NANO (online since April 22, 2018)
Lesson 4: How To Get BANANO (online since April 26, 2018)
More will follow soon! Follow us at Twitter for updates!

Content of Lesson 2: How to Buy NANO
This lesson will describe how to buy Ethereum (ETH) at Coinbase, transfer it to Binance or Kucoin and exchange it to some real NANO which you then finally can transfer to your personal wallet. After this lesson you will be still one of the first to own some NANO – the currency of the future. I know all this may sound a bit more complicated than Lesson 1, but if you follow those steps everything should be fine:

Step 1: Buy Ethereum at Coinbase
Coinbase.com is one of the few places that sell cryptocurrencies like Ethereum for “real money” like Euro or USD. You cannot buy NANO directly at the moment.

If using the link below to register at Coinbase you will get a 10 USD bonus in Bitcoin (BTC) after you bought Ethereum (ETH) for at least 100 USD.

  • Go to Coinbase.com and register an account. Keep your password safe!
  • Follow the instructions to verify your identity. Coinbase is legally required to identify you, like a bank would. This involves uploading a scan or image of your ID or passport. You can also download the coinbase app to your smartphone after registering and use it for verifying your identity as well.
  • At the beginning, you should not invest too much, 100 USD or EUR would be a reasonable amount to handle. Smaller amounts would result in too high fees. Higher amounts might make you feel uncomfortable for the start.
  • After your coinbase account is verified, follow the instructions to buy Ethereum. The easiest way is to use a credit or debit card. You might need to contact your card provider to enable the transaction.
  • It might take a few minutes after the transaction is done, then the Ethereum should show up in your Coinbase Ethereum wallet!
  • Shortly after you also will be notified about your free 10 USD bonus (paid to your Coinbase account in Bitcoin).
  • It worked? Congrats! Step 1 completed! You now have bought some Ethereum!
  • Ethereum is a rather well-known, well-accepted and valuable crypto coin, that’s why it nowadays is used as a trading tool or trading pair at many exchanges.

Step 2: Send Ethereum to Binance
Binance and Kucoin are exchanges for cryptocurrencies. You can’t buy crypto there for Euro or USD, but you can exchange your Ethereum for NANO there. Or for many other crypto assets, coins or tokens, if you like. We recommend to create accounts at both to have more flexibility in the future.

  • Create an account at Binance.com. and Kucoin.com
  • Follow the instructions on the websites, and be sure to keep your password and account information safe!
  • Still at Binance: You need your Binance Ethereum wallet address now. Go to >Funds >Deposits >Select deposit coin >ETH >copy the Ethereum address shown in bold. It should look similar to this: 0x3f5ce5fbfe2e9af3571dd833d26bc9b5c936f0be. The same procedure applies for Kucoin. Take your time to get used to the websites.
  • Now go back to your Coinbase account. Go to your Ethereum wallet and click “withdraw/send”. Click on maximum and paste in your Binance or Kucoin Ethereum address. Double check everything and click “send”.
  • Now give it some time, it can go fast but might take around 1 hour, or even a bit longer, to complete the transfer.
  • Check your wallet at Binance: Go to >Funds >Balances >Ethereum. Once the transaction from Coinbase has completed it will show up there.
  • It worked! Step 2 is completed! Congrats, you now know how to buy Ethereum at Coinbase and send it to Binance/Kucoin!

Step 3: Exchange your Ethereum for NANO

Now you know how to buy Ethereum and send it to an exchange like Binance or Kucoin. Here, you can exchange it to many other coins, including NANO.

  • To exchange your Ethereum (ETH) to NANO, start by clicking on >Exchange on the top left.
  • On the top right, click on ETH, and then search for NANO with the search box below.
  • Click on NANO/ETH. This is the trading pair we now will use to exchange Ethereum (ETH) to NANO.
  • Then go to >Buy NANO, click “100%”, and click “Buy NANO”. This will convert your ETH into NANO at market value.
  • You now successfully bought NANO! Congrats!
  • Almost done! But one last important step needed, to be sure YOUR NANO really is under YOUR control. You will learn more in future lessons why that is so important. Do not keep YOUR NANO for longer time periods on an exchange account, but transfer it to your NANO wallet (yes, this is the wallet you created in Lesson 1):
  • Go to >Funds >Withdrawals >NANO. Now put in your NANO wallet adress (starting with xrb_…), the amount you like to send and click submit.
  • The NANO should then show up in your personal NANO wallet! This step might take a few minutes or sometimes longer.
  • It worked? Awesome, you now belong to the first to own some NANO – the currency of the future!

Congrats! Lesson 2 complete! You now know how to buy Ethereum and exchange it to NANO. Tell your friends how to do this, or send them the link to this website! Of course you can apply the same method to buy other crypto currencies!

Next lesson: Lesson 3: How to get free NANO

Remarks:
This is a very simple guide to buy some NANO. There are some details regarding security that you should be aware of. Be careful and inform yourself before investing more money, there are some mistakes you could make that might result in loss of your money. In case of any questions I recommend to ask for help on the subreddit of NANO. Please be always careful and follow the instructions since there are some mistakes you can make that might result in loss of your money. Also be careful if you see some “great” offer online – if it is too good to be true it is most likely is a scam. The risks of using crypto currencies and the technology behind it will be explained in more detail in future lessons. Until then please don’t handle higher amounts of value before you have learnt more about how it works, otherwise you might lose money.

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Disclaimer:
All information on this website is for educational purpose only. All information provided on this website is not intended to be a source of advice or investment analysis with respect to the material presented, and the information contained on this website does not constitute any investment advice. Especially cryptocurrencies cannot be considered a safe investment at the current stage, so please never invest more than you are willing to lose, diversify your investments, and always keep in mind that chances for huge gains also include possibilities of huge losses. Please also always keep in mind that if you lose your password and seed to your wallet, nobody will be able to help you to recover your funds. Please be sure you understand what you do before handling bigger values in cryptocurrencies.