Cryptocurrencies are becoming highly popular among investors as a means of long-term investment today. Unfortunately, there are over 17,200 cryptocurrencies in the market with unique market positions and technologies, making it difficult for investors to choose.
But with new upgrades and developments in the blockchain, altcoins like Cardano have seen a high surge in price and popularity. So investors are curious to know whether investing in Cardano right now could make you a millionaire retiree.
Cardano is a third-generation cryptocurrency poised for future growth. The upcoming network updates and technical offerings are likely to drive the price of ADA to new heights.
Let us see what makes Cardano one of the top long-term investment options for securing a millionaire-retiree future.
Why Invest In Cardano Right Now
Cardano has seen colossal growth since the beginning of 2021 and has been receiving massive attention from investors across the globe. Several analysts predict that the token is expected to grow ten times this year. Therefore, based on that analysis, this would be the right time to buy ADA for securing a wealthy retirement future.
Cardano is the first cryptocurrency founded on peer-reviewed research and developed through evidence-based methods. By combining pioneering technologies, the network solves some of the severe challenges of blockchain networks, like sustainability, decentralization, and scalability, and offers unparalleled security. It also focuses on solving real-world issues, especially in developing countries with its advanced blockchain technology.
Here are some of the many reasons to invest in Cardano right now for securing a millionaire retiree's future.
1. Cardano’s Unique Features
One of the significant features that make Cardano unique from other cryptocurrencies is its mission. It aims to use blockchain technology for the unbanked population and sectors to solve real-world problems. Consistency, solid real-world use-cases, and robust fundamentals are some features that make ADA a good buy now for future returns.
The Cardano network employs a unique programming language known as Haskell that enables a high degree of formal verification for smart contracts. Due to this reason, it is also one of the safest blockchains for programmers and developers.
Cardano operates entirely transparently and has transaction confidentiality in the network since it is an open-source code software. The network also facilitates faster transactions with lightning speed, making it better than its competitors. Yet another contributing factor supporting the steady growth of Cardano is its dedicated development team with more than adequate financial resources and development activities by the parent company, Input Output Hong Kong (IOHK).
Staking is another significant feature of Cardano through which ADA holders can earn returns on their investment without any expensive equipment. Users can stake ADA tokens in two ways - either by delegating the tokens to someone else’s pool or by starting their own staking pool.
2. The Sustainable Coin
A key reason to buy ADA now for a millionaire-retiree future is certainly its sustainable nature. Cardano, unlike its competitors, employs an energy-efficient Proof-of-Stake consensus method, consuming just 6 gigawatt-hours (GWh) of power. The developers created the coin with a strong focus on sustainability from the start. It is essential, especially when the environmental concerns of cryptocurrencies are a hot topic of discussion in the market. After the crypto market crash, the price of ADA surged higher as several investors flocked to more environmentally sustainable tokens. Moreover, Cardano employs the Ouroboros consensus mechanism that eliminates miners from the equation and thus consumes very little energy.
3. Cardano Blockchain - Real World Use Cases
The project’s mission to provide unbanked people access to financial services efficiently and seamlessly is why ADA is a hot cryptocurrency to buy right now. In addition, the team of IOHK has recently partnered with the Ethiopian government to create a blockchain-based system for the education sector. This is a big step ahead in its mission to use blockchain technology for solving real-world issues.
Around 1.7 billion people in Africa are still unable to participate in the global economy without a bank account. So with the partnership, the government could use the Cardano blockchain technology to promote education. It also helps the Ministry of Education in Ethiopia to store the academic records of more than 5 million students on its blockchain. In addition, the team has plans to broaden its network into other parts of the developing world, greenlighting the coin’s growth potential in the future.
4. The Launch Of Alonzo Upgrade
A significant catalyst of Cardano’s recent growth is the roll-out of smart contract features on the main network. This was implemented via the latest Alonzo upgrade, which occurred in September. The new update made several improvements to the platform, making it more efficient.
Smart contracts will help Cardano widen its reach to more users, and its underlying technology would find uses in more sectors.
Some of the new features the upgrade will add to Cardano are dApps and DeFi functionality. Therefore investing in Cardano right now could make you a millionaire-retiree as more developers will deploy the network, increasing its value over time.
5. Increased Social Engagement
Cardano has become the most discussed cryptocurrency in the market over the past months. According to reports, the Cardano and ADA hashtags and mentions hit peaks on Twitter during the weekends. This growing engagement would likely drive ADA to explode beyond $3 by the end of 2022.
Moreover, there has been a colossal increase in the number of Cardano or ADA queries on the world’s largest search engine. According to Google trend data ADA could rise significantly higher in the coming months.
6. The Launch Of The Milkomeda Protocol
dcSpark’s new Milkomeda protocol will enable Cardano to achieve compatibility with the Ethereum Virtual Machine. In addition, the DLT company has plans to develop the first sidechain project on Cardano that will make it compatible with EVM.
The Milkomeda protocol will allow Cardano users to stay on the mainnet and execute smart contracts on the sidechain. They do not have to switch wallets or even understand all the technical details of the process for the execution. This will eventually increase the efficiency of the Cardano blockchain and attract more users to the network.
Investing In Cardano Could Be The Ticket To A Millionaire-Retiree Status
Cardano is one of the most actively developing coins in the crypto space, with several updates and development gaining steam in its ecosystem. Also, the increasing popularity of DeFi is another reason to invest in Cardano right now to secure a millionaire-retiree status.
Cardano’s highly advanced blockchain technology, focus on solving real-world issues, good adaptability to change, a solid road map, eco-friendly nature, and a talented team keep contributing to the coin’s success. All these factors highlight the potential of ADA to generate good returns over the long run.
Moreover, founder Charles Hoskinson revealed that the team’s mission is to have a billion customers by 2025 to 2030 and at least three Fortune 500 companies to adopt ADA tokens by 2025. Therefore, with strong partnerships in the coming years and more users in the network, the price of ADA would significantly skyrocket to new heights.
A Final Word
Cardano is thus one of the fastest-growing blockchains in the crypto market today, and this is why investing in Cardano right now could make you a millionaire-retiree. Moreover, with more people looking for DeFi solutions and more significant developments in the network, ADA would most likely explode in the future.