Cardano (ADA) is a project of decentralized blockchain based cryptocurrency. It is a smart contract platform, completely open source, providing advanced solutions. Its philosophy is based on scientific approach and methodologies. It is distinguished from other major concepts by the fact that Proof of Stake has been practically implemented and Cardano wallet allows local application to be run on ADA blockchain.
Cardano uses UTXO method to avoid double spending. This innovative implementation differs from, for example, Ethereum, which uses account based method. Cardano draws a tree with assets, and with each transaction new branches appear. Original owner and receiver of ADA are owners of the new branches. Benefits of this approach is e.g. keeping only essential transaction on the original blockchain. It allows upper layer of application building and taking care of the other activities.
What happened with Cardano coin price so far?
Cardano is often compared to Ripple and Litecoin in the investment context. This is sensible, because cryptocurrencies are similar both in capitalization and in the business area. All three are in the shadow of Bitcoin and Ethereum, who fight for dominance in the world of value blockchain.
It is worth noting at the beginning that Cardano gave a lot of profit to investors who trusted the project creators early enough. Unfortunately, they have no reasons to be satisfied later, because the price dropped from the tops like a stone in the water. Summer months were a slow downward trend towards a dozen cents for one Cardano coin.
We have seen long period of consolidation on Cardano chart. It took over two years for the price to start giving signs of recovery. It looks bullish now, no one can deny.
Those, who bought ADA for low prices can calculate profits and decide whether it is worth now to take them. Others are counting on continuation of the bullish trend.
What is the future of Cardano cryptocurrency?
There is a lot going on under the hood in the world of cryptocurrencies. This is especially true for projects with the biggest capitalization, including Cardano. Investors and traders exchange information about future partnerships, new business and technical ideas, and even new celebrities’ faces involved in the promotion of the project.
One of the more-frequent recurring themes is ADA support by the largest crypto-currency service in the west, Coinbase. Thanks to this, Cardano coin would gain a huge market. The message about making the transaction available on the biggest market would send ADA to new heights, just like it was with Ethereum Classic. Unfortunately, for now they are only rumors and expectations.
The usual advantage over the rest of smaller cryptocurrency is given to Cardano by the fact of being in the top ten cryptocurrencies in terms of CoinMarketCap capitalization. The flexibility of technology, low transaction fees, ease of use for both users and the ease of working on the project for developers and supporting the ecosystem (Cardano wallet Daedalus) speak in favor of the venture.
Finally, the most important argument, which is the implemented Proof-of-Stake. This could be summarized to the positive price prediction to the following years. Cardano, however, is too small of a blockchain project to break from the wide cryptocurrency market trend. It is probably worth to consider opening small position on ADA, especially close to the initial price of the token from times before wild price swings.
Where and how to buy Cardano? Cheapest is…
How and where can you buy ADA tokens? European and American stock exchanges are rather certain, but be prepared for higher fees. Exchanges with the lowest commissions charge less than 0.2% for the entire transaction. The most advantageous is Binance.
Buying Cardano at Binance Crypto Exchange. Find out advantages of getting free account:
- no verification,
- easy interface,
- lowest commissions (0.075%),
- variety of cryptocurrencies,
- high, 2 BTC withdrawal limit per day.
In order to buy Cardano cryptocurrency for the good price, you need to buy Bitcoin earlier. One of the major cryptocurrency is needed on the crypto exchanges with a low commission to purchase altcoins. It is widely recognized, that the easiest way to to get BTC is to use LocalBitcoins, the longest-running local exchange service on the market. The location and form of purchase is agreed with the contractor. It is worth choosing a reliable and flexible buyer / seller. You can check transaction partner by looking at their account reputation. If you need to perform fast transaction, you can go for BitFinex.
On the other hans side, exchange without verification Binance is the optimal choice for the quick purchase of Cardano cryptocurrencies. Remember that the cryptocurrency market is characterized by considerable volatility and it may turn out that the cryptocurrency is no longer at the same price, even within minutes . Registration on the cryptocurrency exchanges without verification is still available and free. The Cardano rate will change along the development of the project and the growing number of investors entering the market, willing to use the blockchain market trends. The use of Cardano blockchain for creating contracts and dedicated platforms will also have an impact on the price. Cardano is around number 10 in the cryptocurrency market capitalization CoinMarketCap. At the beginning of 2021, it has been seen even at 6th!