The Crypto market is expanding at a fast pace. New coins are churning out every day on the blockchain. Essentially, some coin projects bust in the beginning. However, some make it to the list of top cryptocurrencies. One such coin, coming from obscurity to popularity, is Cardano (ADA).
Cardano’s price has increased by more than 600% in the past three months. Despite the surge, the currency units are still not overly priced. Small crypto traders can easily invest in Cardano. Moreover, it allows for the creation of decentralized applications (dApps).
Google trends show a growing interest in currency worldwide.
What Is Cardano?
Cardano is an open-source cryptocurrency platform. It was launched as an alternative to bitcoin. After the ICO (Initial Coin offerings), Cardano was added to the list of multiple other altcoins such as ETH and Litecoin. The currency was worth nothing at the start. However, its value has significantly surged over the years.
The goal of Cardano is to offer a secure blockchain network. Moreover, it has a ‘ground up’ model that protects users privacy. The creators of the network are people with a deep understanding of market needs.
The native currency of Cardano is called ADA. Nonetheless, people interchangeably use the word Cardano and ADA.
What Makes Cardano ADA Special?
Cardano has managed to keep its competitive edge in the market. The network has some special features that make it more compelling than other cryptocurrencies. For Instance, Cardano has a two-tiered blockchain that makes the fast processing of transactions possible.
Cardano’s protocol system has a settlement layer and a control layer linked to each other. The settlement layer contains the unit of account. The control layer is developed to recognizes identities and assist in compliance. The smart contracts also run on the control layer.
Cardano’s unique network takes care of regulators’ needs. Additionally, it makes sure that the privacy rights of users are protected. The secure, functional and fast blockchain makes ADA a good choice for developers.
How is ADA Blockchain Different From Bitcoin Cryptocurrency?
ADA prides itself on being the third generation cryptocurrency. It is designed to tackle the scaling issues and infrastructural problems of bitcoin and Ethereum blockchain.
Cardano cryptocurrency uses a special kind of algorithms to make its network more scalable. ADA uses the proof-of-stake (PoS) model which enables faster transactions and saves energy costs.
Cardano’s blockchain also appoints a leader node for verifying transactions from the collections of nodes. Thus, there is no need for having an individual copy of the whole blockchain on each node. This streamlines the work on the whole network.
Cardano blockchain developers are paid for their work. As a result, the Cardano cryptocurrency evolves stably and uniformly.
The last difference between bitcoin cryptocurrency and ADA is the support for smart contract. Cardano blockchain technology allows developers to build their own decentralized applications using a smart contract. The development fee is low in comparison to the Ethereum blockchain. Hence, Cardano is increasingly becoming popular among defi enthusiasts.
Cardano ADA – The Future of Blockchain Technology:
Cardano’s ADA is the fifth most popular cryptocurrency according to the market capitalization at the time of this writing. The crypto analysts consider it objectively better than the bitcoin cryptocurrency. It has managed to rise out of obscurity and become the relevant currency in the crypto ecosystem.
Cardano is the future of blockchain technology. It aims to enable cross-chain transfer and transactions between parties off-chain. The developers are taking both academic and scientific approach in making Cardano effective and functional.
Another revolutionary aspect of ADA blockchain is its sustainable and self-sufficient economic model. The creators intend to solidify it with protocols for avoiding messy hard forks in future.
Cardano is the future of blockchain technology with the ambition of introducing a trusted computation framework.
Invest In Cardano’s ADA: The Rising Cryptocurrency Market
Cardano is one of the promising currency for investment in 2021. Its market value is growing rapidly. The market analysts consider it a very close contender of Ethereum. The price of ADA is $1.20 at the time of this writing. It has surged close to 7% in the past 24 hours. Recently, Coinbase has announced support for Cardano on the exchange.
You can invest in Cardano’s ADA on Coinbase platform.
How to Buy Cardano’s ADA?
You can easily buy Cardano’s ADA on cryptocurrency exchanges. First of all, you need to create an account on the online platform. As a second step, you should purchase a wallet. Many exchanges offer their own wallets. Lastly, you can buy Cardano’s ADA through means supported by the trading platform.
Buy Cardano ADA on Coinbase:
Coinbase is one of the biggest cryptocurrency trading platforms. It is based in the United States. After registration on the Coinbase exchange, you can conveniently buy Cardano’s ADA through the website a well as the app. Coinbase has its own wallet. You can make cryptocurrency purchase through bank accounts and credit/debit card.
Buy Cardano ADA on Binance:
Binance is a Malta-based cryptocurrency exchange. It offers multiple trading pairs. You can buy Cardano’s ADA using the credit card and immediately transfer your holdings to Binance trust wallet.
Read More: Best Cryptocurrency Exchanges In 2021
Why Invest In Cardano’s ADA In 2021
Cardano blockchain offers fast and convenient transaction with low fee. It is decentralized. Nonetheless, the protocols are put in place to streamline the economic model of the currency. The developers of Cardano are consistently striving to make it a better alternative to Ethereum.
The Proof of Stake (PoS) model in Cardano means that anyone can easily become the miner if he/she has enough ADA for staking. Moreover, it has a two-tiered, secure and scalable network. Resultantly, the
As a trader, you should invest in Cardano’s ADA for the following reasons:
- ADA’s demand is growing whereas its supply is limited. Thus, the coin is resistant to inflation
- The popularity of ADA will increase as soon as business owners and developers start utilizing its blockchain technology for building DApps.
- For hedging risk in the volatile crypto market, you can invest in Cardano’s ADA and diversify your portfolio.
- New investors are entering Cardano’s market. The increased trading activity will escalate the liquidity of the asset.
- Cardano has a good chance of going up in the crypto market with its continuous upward trajectory in 2021.
Cryptocurrencies rise and fall unpredictably. While the price of a coin is one factor for judging its future, multiple other aspects make it a good investment. Cardano (ADA) is the best crypto investment due to affordability, scalability and innovation. Furthermore, Cardano blockchain has the potential of becoming the most popular one in the crypto market. So, investing in ADA seems like the right decision at the moment.