Lesson 2
Send money anywhere in about a second
With Nano, money moves across the world as fast as a message. There is no fee, no bank in between, and no waiting for business days. Try it: this sends a real payment, right now.
To be honest about it: both accounts belong to this website, so the money comes back to us. The payment itself is completely real. The network handles it exactly like any other. The distance also makes no difference: a payment across the street and a payment across the world take the same time.
What sending $200 home costs today
Millions of people send part of their pay to family in another country. The World Bank measures what it costs. Early in 2025, sending $200 cost:
Source: the World Bank's Remittance Prices Worldwide, first quarter of 2025 (global average 6.49%, banks 9.5%). The person receiving Nano may still pay a fee to turn it into local cash, depending on where they live.
How can it be so fast and free?
1 Your wallet signs the payment
Like signing a check, but with a secret key that only you have. Your phone does a tiny bit of work to prove it isn't spam.
2 The network votes
Computers run by people and companies around the world check your signature and your balance, and vote.
3 No miners, no line, no fee
Each account has its own chain of blocks, so payments don't wait in one line. There are no miners and no auction for space, so nobody needs to be paid a fee.
4 It's final
When enough votes agree, usually in under a second, the payment is done and can never be undone. The money is in the other person's account.