What To Buy Cardano? Here's What You Need To Know
Cardano showed up on various crypto-tracking sites such as Coin Market Cap and Coinbase on 1st October 2017 and was relatively unknown in the cryptocurrency market.
On that day, ADA which is the corresponding coin of Cardano had a market capitalization of about $600 million which was highly unusual for a coin that did not have much buzz from fans on social media.
At the end of 2017, ADA was categorized as a large-cap asset as its market capitalization soared above $10 billion.
The digital coin wants to change the world as to how financial transactions are carried out.
The founders of the asset believe it has the right features and technology which can provide the global world with a decentralized finance asset which is a merger of Bitcoin (BTC) and Ethereum (ETH).
Additionally, they are of the belief that the crypto coin and its blockchain can offer strong competition to parent crypto, BTC, and other altcoins.
This is because it possesses features which provide all the answers to the scalability, security as well as cost issues which make it difficult for several business organizations to feel comfortable adopting cryptocurrencies and its technologies as its business solutions.
When a day trader posed a question on social media platform to the founder of the cryptocurrency in early 2018 with regards to the developers doing something to boost Cardano further, Charles Hoskinson responded with an eye on the long term.
He stated “Cardano will be valuable based upon hard work, real world use and utility of the platform”.
Such utility and real world usage is what has increased the cryptocurrency’s price which was up 647% last year.
Such a bullish momentum, Akash Girimath, one of the expert analysts at FXStreet believes has put ADA on course to resume an uptrend towards trading at a price of $2 in the coming months.
Experts at Digital Coin Price also share the same sentiments due to Cardano’s upgrade which is titled “Goguen” which focuses on smart contracts.
The crypto market and data analysis online portal forecasts $1.51 as ADAs trading price by the end of 2022 which may rise to $1.72 in 2023 and increase to $2.24 in 2024.
The crypto asset will then rise due to high crypto trading which will increase its daily trade volume and take the coin to new highs in 2025 at a trading price of $2.62.
For traders and investors who like to go long, your tokens are poised to trade at an impressive $6.36 by 2028, Digital Coin Price added.
With more tokens soon to be mounted on Cardano’s blockchain network and the crypto having a strong fanbase in territories where cryptocurrencies are not well-received such as Japan (Asia), will it continue to soar to new milestones in 2022?
With a $380 million investment by Dubai-based Company, FD7, what are the driving forces of ADAs price and is it going to become Ethereum’s direct rival with regards to decentralized finance (DeFi) protocols?
Contents:
What Are The Advantages Of Using Cardano?
Who Created Cardano And When Did It Start Trading?
Cardano: Will It Be a Good Investment in 2022?
So, Is Cardano a Good Investment?
Is Cardano a Millionaire Maker?
Will Cardano Continue Soar In 2022?
Cardano Price Predictions for 2022 and Beyond
What Are The Advantages Of Using Cardano?
Cardano is special and unique as it offers SCALABILITY, INTEROPERABILITY and SECURITY through a layered architecture.
Like all cryptocurrencies, blockchain technology plays an essential role as to how users can use tokens to send and receive payments.
Parent cryptocurrency BTC employs SHA-256 proof-of-work (POW), which was the same long standing algorithm used by Ethereum on its 1.0 platform until its upgrade to the 2.0 network which employs a proof-of-stake (POS) algorithm.
Litecoin, the silver to BTCs gold uses SCRYPT, an algorithm which is also employed by meme-inspired digital currency, Dogecoin (DOGE).
Cardano (ADA) uses “OUROBOROS”. As part of the proof-of-stake blockchain consensus protocol family, this algorithm can run both permissioned and permissionless blockchains.
With this, the Cardano Settlement Layer (CSL) holds the novel token, ADA, which keeps track of transactions and mirrors Bitcoin (BTC).
Cardano Computation Layer (CCL) is the second layer which enables smart contracts and applications to run on the network which mirrors Ethereum.
Unlike other cryptocurrencies, Cardano does not have a white paper and instead incorporates design principles which are intended to improve upon issues such as regulatory compliance, interoperability and scalability which are faced by other digital currencies.
One of the benefits of using proof-of-stake (POS) blockchains is a smaller energy requirement which is not identified with proof-of-work chains which fall into the demands of custom hardware solutions which are employed in Application-Specific Integrated Circuits (ASICs).
Evidently, in terms of transaction speed, Cardano processes 257 transactions per second (TPS). In comparison with others, Ethereum 1.0 processed 15 to 20 TPS and Bitcoin processes 4.6 TPS.
Such transaction speeds are possible as a result of the blockchain consisting of two main elements.
Several existing cryptocurrencies which cannot perform transactions in a fast manner are attributed to functioning on a single layer which normally results in high transaction fees which stems out of slow transactions due to congested networks.
In an Annual International Cryptology Conference, conference paper titled Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol by authors (Aggelos Kiayias, Alexander Russell, Bernardo David and Roman Oliynykov), provide plausible assumptions as to why this protocol used by Cardano is secure which are stated below.
- “The network is synchronous in the sense that an upper bound can be determined during which any honest stakeholder is able to communicate with other stakeholders,
- A number of stakeholders drawn from the honest majority are available as needed to participate in each epoch,
- The stakeholders do not remain offline for long periods of time,
- The adaptivity of corruptions is subject to a small delay that is measured in rounds linear in the security parameter (or alternatively, the players have access to a sender-anonymous broadcast channel),
- At the core of our security arguments is a probabilistic argument regarding a combinatorial notion of “forkable strings” which we formulate, prove and also verify experimentally. In our analysis, we also distinguish covert attacks, a special class of general forking attacks”.
Simplistically, Ouroboros algorithm provides a basis that supports more users of Cardano as well as the process of staking while maintaining its security measures against Distributed Denial of Service (DDOS) and other adaptive attacks.
The ability to provide provable solutions to scalability and security issues to blockchain technology has been favourably backed by Long Forecast.com.
The forecasting portal has predicted Cardano (ADA) to trade for at least $0.37 by the end of 2022.
Online portal for the latest news, regulations and mining related to cryptocurrencies (Smartereum) has forecasted the future of Cardano to be extremely bright.
Contributing analyst of Smartereum, Adam Web is of the belief that ADA will be trading for $2.50 and by 2025, will have a trading price of $10.
Another advantage of investing in Cardano is HIGH DEMAND for the ASSET which is represented by its RANK through its MARKET CAPITALIZATION.
There are many cryptocurrencies that came before Cardano. Unfortunately, thousands have gone into extinction mode and are categorized under dead coins.
ADA which runs on Cardano’s blockchain network is constantly evolving with its technology which has drawn the undivided attention of traders and investors.
At the time of writing this report, Cardano was trading at a price of $1.06 (up 3.70%), had a trading volume of $954 million and a market capitalization of $35 billion.
To experience such trade volumes, Cardano must be trading on highly patronized cryptocurrency exchanges. Evidently, popular cryptocurrency exchanges such as ZG.com, HBTC, OKEx, Huobi, Global and Binance have made ADA available for trading.
In a report by Statista (online statistics portal for consumer and market data) comparing daily trade volumes on February 22, 2021, Binance (largest cryptocurrency exchange in terms of volume), recorded a whopping $28.85 billion in a 24-hour period.
Trade volumes are extremely important because it helps you as an investor or trader to be able to forecast price on a personal level based on the interest the public is showing with regards to the asset (ADA).
Market capitalization is highly essential because it helps you know the rank of the asset in terms of its competition with other cryptocurrencies.
Currently, in terms of market cap, only Bitcoin (with its huge popularity, mass adoption by thousands of merchants as well as institutions), Ethereum (with its current dominance of the decentralized finance space) and Tether (artificial dollar which benefits from staying close to 98% to 102% of the real USD) are the assets ahead of Cardano.
Last year an update called “Mary” was introduced, that enables Cardano to have the same functional capabilities as Ethereum (ETH), with an added layer of security, more tokens and protocols or decentralized applications (DAPPS) will be added to Cardano.
The tokens will be traded individually and so would the protocols which would be mounted on Cardano’s network, just like Yearn Finance, Compound and Nexus Mutual on Ethereum’s 2.0 platforms.
This will add considerable gains to the price of ADA and only time will tell if Charles Hoskinson’s idea of creating a platform that can serve BTC and ETHs purpose at the same time will increase substantially in the long term.
The bright future ahead for Cardano has been recognized by Coin Switch. The cryptocurrency exchange forecasts the price of ADA to increase substantially, trading at an average price of $1.23 by 2021 and $2.16 by 2023.
The bullishness in Cardano has reflected in the prediction of Wallet Investor. The online forecasting service sees ADA closing 2022 at $2.68.
Cardano: What Is It?
Cardano is a cryptocurrency (ADA) as well as a technological platform that helps run the financial applications that are used by individuals and business organizations worldwide.
ADA (the novel token) of Cardano is primarily used for sending and receiving digital money through the use of cryptography which makes direct transfers relatively easier and faster.
Cardano is widely considered to be the first decentralized blockchain solution which is peer-reviewed. This is because a global team of engineers designed the blockchain project which can easily be implemented on mission-critical systems such as banking and aerospace applications.
The crypto network like major cryptocurrencies in the decentralized space runs applications which are not controlled by any third parties such as a single individual or an institution such as the central government.
Constructed in two layers, Cardano’s network is flexible enough to allow for constant upgrades of a soft fork.
Cardano was developed under an Apache License, uses a proof-of-stake ledger and was written in a programming language called Haskell which is native to military infrastructure and is used in academia and industry.
Haskell’s safety features such as static types, memory safety and more essentially purity (the ability to prove the absence of unwanted side-effects) makes Cardano a great cryptocurrency to patronize based on its extensive provision of adequate security for your tokens and the usage of the network.
Cardano offers wallets to store ADA coins and they are Trezor, Ledger and popular wallets (Yoroi and Daedalus).
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Who Created Cardano And When Did It Start Trading?
There are three (3) entities that are working in tandem to continuously upgrade the Cardano platform and they are Emurgo, Input-Output Hong Kong (IOHK) and Cardano Foundation.
Like all thriving business organizations, there are specific individuals who contributed to the core foundation of the business. Charles Hoskinson is widely credited as the founder of Cardano.
In 2013, he quit his position in a consulting firm and set his sights on great things such as the creation of the Bitcoin Education Project.
This project was primarily focused on educating people about cryptocurrency and providing highly resourceful information about decentralized finance.
At the end of the course; students will have arrived at a learning outcome of being able to understand cryptographic tools in a relatively easier manner when they see it in the mainstream financial space.
At the time, Hoskinson claims his parents and friends thought he was going crazy leaving a constant paycheck behind for a life of uncertainty, but he had it all figured out.
Lucky or smart, depending on how you look at it, Hoskinson met Vitalik Buterin at the online school and together with six (6) others became the co-founders of Ethereum.
Operational disagreements followed during executive meetings. Vitalik Buterin wanted to maintain the company as a non-profit organization with open-source decentralized governance.
On the other hand, Charles Hoskinson wanted Ethereum to run as a for-profit organization which comes with a more centralized government structure. As a result of irreconcilable differences, in June 2014, Hoskinson left Ethereum.
Soon after, it seems Hoskinson was wrong to leave as Ethereum’s market capitalization soared through the roof reaching $120 billion in the process.
After taking a huge break from any cryptocurrency thought-process which lasted almost six (6) months, Hoskinson was approached by Jeremy Wood (a former colleague at Ethereum).
Jeremy Wood brought a new idea that could rival Ethereum’s native token ETH as well as blockchain network (Ethereum 2.0).
The idea was executed into the formation of an engineering company that builds cryptocurrencies and blockchains for academic institutions, corporations and government entities known as Input-Output Hong Kong (IOHK).
After getting several contracts from governments to build cryptocurrencies, success started coming through the doors of IOHK as a result of receiving its payments through BTC which increased substantially in value.
With huge liquidity, Hoskinson and Wood felt they had cemented their status as a here-and-now technology company.
IOHK proposed its flagship project to date which is Cardano in 2017. IOHK also runs Ethereum Classic.
Cardano started trading in September 2017.
Read Also: Ethereum vs Cardano
Why Was Cardano Created?
Cardano was created with the motive of all cryptocurrencies which is to easily facilitate the sending and receiving of payments in a decentralized manner.
Fortunately, the founders of the cryptocurrency prioritized Cardano as the only blockchain platform which can overcome the existing problems in the crypto market which has made it difficult for traditional institutions to accept crypto and adopt it for their business operations.
Developers felt Bitcoin is not flexible and it’s relatively slower when compared to Ethereum. Additionally, Charles Hoskinson (co-founder of Ethereum) feels the “king” of decentralized finance (DeFi) (ETH) is also not scalable enough and has weak security features.
As a result, Cardano aims to solve all the problems related to interoperability, sustainability and scalability on all blockchain platforms.
With Cardano, users do not have any problems with slowing down networks and as well do not have to deal with high transaction costs when there is an increment in transaction volumes on the platform.
Where Was It Created?
The idea was conceived in the United States of America but the development of the project is practically overseen and supervised by the Cardano Foundation which is based in Zug, Switzerland.
How Many Cardano Coins Are In Supply?
There are 33.57B ADA circulating in the market and a maximum supply of 45,000,000,000 ADA.
Cardano: Will It Be A Good Investment In 2022?
Cardano is not only a cryptocurrency but also technology and this gives the crypto asset a competitive advantage over other altcoins in terms of appeal and potential in the market.
The fact that Cardano is using its third-generation blockchain technology to help several countries in Africa to improve their digital infrastructure, as well as their farming methods coupled with huge investments by credible funds, means there is more room for growth in the asset.
With a new feature, Hydra which will see more than 1 million transactions processed every second, Cardano will gradually be the blockchain to turn to for many organizations in terms of scalability which will lead to huge adoption by well-established institutions.
Such huge growth in terms of usage will transform into the price growth of the coin and this makes Cardano a great asset you should have on your portfolio of investments.
Cardano will be a great investment in 2022 according to William White of InvestorPlace in an article which appeared on the NASDAQ website.
Mr White opined that all investors and crypto enthusiasts must keep a keen eye on the movements of the crypto asset as several key people are expecting it to reach $2 in the coming months.
Crypto forecaster, Previsioni Bitcoin forecasts Cardano starting the next year at $4.30.
On Thursday, 4th March 2021, FD7, a Dubai-based billion-dollar cryptocurrency investment fund completed a purchase of Cardano for a total fiat currency value of $380 million.
FD7 has several offices in Dubai, United Arab Emirates (UAE) and Toronto, Canada.
Such a huge windfall came to the investment fund after their holdings in parent crypto (BTC) reached an all-time high of $52,340 on February 17.
The transaction was completed a few days or weeks early as the company felt the need to close the deal as it has seen a huge potential in Cardano.
Essentially, the renewed interest came because of the cryptocurrency's blockchain technology providing the needed features which will not only be adopted but will be sustainable for the organizations which adopt it in the long term.
According to Managing Partner of FD7, Prakash Chand, “The price of Cardano and Polkadot (DOT) could rise to approximately twenty (20) times its current trading prices within the next two to three years”.
Mr Chand’s bullish forecast of Cardano comes from a strong belief in institutions patronizing the cryptocurrency in the not-so-distant future which will see its rate of adoption dwarf competing cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
You should remember that Cardano has some of the brightest minds in the crypto stratosphere who are constantly working on its development and providing features and protocols which will lessen the stress of several business organizations in terms of operation.
With governments patronizing Cardano's services in terms of creation of technologies, it has the potential of creating a major disruption across several industries in Real Estate, Finance and Healthcare in the coming years.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
So, Is Cardano A Good Investment?
It is a known fact that investing in cryptocurrencies is difficult since there are hundreds of coins and they perform similar functions.
Cardano is different as it is helping bridge the gap in terms of technological advancements for developing economies that have huge numbers in terms of population.
Cardano is attracting new markets and is constantly educating millions of people about the importance of decentralized finance such as the ability to use crypto as collateral to get loans, pay for goods and services as well as a form of insurance.
With several government contracts in the pipeline, Cardano will be getting more liquidity to embark on other useful projects.
Such projects will be invaluable to its adoption and it will sink into its price in the long term which will bring gains to investors. This is why Cardano is an asset that is worth consideration in terms of investment.
ZexPrwire of Tech Bullion sees Cardano as an extremely ambitious project.
ZexPrwire feels Cardano has been around for almost four (4) years and has creative minds behind its technology that can create new products which can take over the systems which are currently running the world.
In a statement, he said “ADA has significantly increased its influence and attracted the attention of investors who share the same values in recent months”.
Experts on City Telegraph expect that the bullishness around ADA will see it trade above $1.50 in the whole of 2022.
In a Harvard Business Review edition of 2011 titled “How to Thrive in Emerging Markets”, one of the key areas highlighted was developing the female base of developing economies in terms of technology so that they can lead a startup revolution on several continents.
Cardano has taken advantage of such a strategy and has widened its scope in Africa delivering blockchain technology and its benefits for the Supply Chain Industry and one of its arms, EMURGO is playing a key role in driving the programme's success.
Out of the 54 countries in Africa, 24 are part of SMART Africa (an organization focused on investing heavily in the digital infrastructure of African countries to help create opportunities within individual state economies which includes data centres, fiber optic networks, satellites and mobile broadband centres.
This is where Cardano comes in with a primary aim of driving its ADA and blockchain technology adoption to be able to serve individuals and business organizations.
By liaison with several stakeholders locally, Cardano can use its technology to help solve real issues in the African market.
This is as a result of Non-governmental Organizations (NGOs), private sector companies and governments recognizing the potential of blockchain technology and how Cardano’s technology (the only peer-to-peer third-generation blockchain) technology differs in terms of scalability, interoperability, security and sustainability.
Cardano’s technology can improve trust, transparency and efficiency in the operations of individuals, private businesses and more importantly, government enterprises.
This has gotten the team behind Cardano (Input-Output Hong Kong) contracts from the Ethiopian Government to train software developers, particularly women.
More importantly, Cardano aims to enrol more individuals to use ADA as an instrument of payment and blockchain technology for its agriculture to increase operations, thereby increasing productivity and returns on investments.
One of the areas in Ethiopia in terms of agriculture is coffee. Under this sector, Cardano looks forward to using smart contracts to incentivize coffee farmers so that they will adopt more productive farming practices.
As the largest export of the country, improving this industry is crucial to Ethiopia’s economy which results positively in providing more liquidity to Cardano.
As more African countries and other developing economies in several parts of the world see the success being enjoyed by Ethiopia as a result of Cardano’s solutions, more contracts will be signed.
In February 2021, Cardano announced that it looks forward to adding four (4) more countries to their project in Africa which are Tanzania, Nigeria, South Africa and Kenya.
Nigeria is the most populous country on the African continent. Overall, Cardano looks forward to attracting 100 million people to patronize its services for decentralized finance products such as loans and insurance.
This will in turn increase Cardano’s price since it will be helping bridge the gap in technological advancements for the underdeveloped while increasing the number of people who are patronizing its platform and its novel token, ADA.
Check Out: Pros and Cons of Investing in Cardano
Is Cardano A Millionaire Maker?
CryptoGeek believes Cardano will have a trade price of $1.5 to $2 in the long term.
With an eye on Crypto Geek’s prediction, Cardano could make you a millionaire depending on the number of ADAs you have in your digital wallet which will be multiplied by the asset’s trading price.
2021 was the year for cryptocurrencies and the world of DeFi since the industry has bounced back well after the whole financial markets fell to its knees during the March lows.
As at the time of writing, Cardano was trading at $1.06 which makes it relatively cheaper when compared to Ethereum (ETH) and Bitcoin (ETH) -- which may be out of reach for several traders and investors as per their investment goals.
For you to become a millionaire, you must know that trading and investing in any form of assets deals with risk as the primary factor and simple mathematics.
There are many ways to become a millionaire through ADA and the following examples show how.
At its current price, owning 500,000 ADAs with a view on the long term can see you become a millionaire if Cardano increases by 200% of its current trading price to $3.
A $500,000 for 500,000 coins could be sold at $1,500,000 in total and the difference is a cool $1 million profit which can be invested into other assets or other physical projects.
You can own 200,000 worth of coins and with increasing demand for the adoption of ADA and its technology, if the price in the next 5 years increases to $10 (200,000×$10), equals $2,000,000. This will see you become a millionaire two times.
Decide on the number of coins you want to own and then set a price target for which you want the asset to reach, invest and then cut off your extensive emotional supply and hold onto the crypto until your investment goals are reached. This will surely make you a millionaire.
In another example,
If you do not have a lot of money but believe in the technology of Cardano as the best among the rest to provide sustainable solutions to individuals and business organizations, you could invest in 10,000 coins.
This will set you back a little over $10,000 and do everything you can to see ADA through to a trading price of $100.
Your ($10,000 investment × $100 trading price) equals $1,000,000.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Will Cardano Continue Soar In 2022
Senior Producer for 9news in Australia, Stuart Marsh has opined that there are several investors who missed out on the last crypto surge and are looking for the next Bitcoin (BTC).
Surprisingly, many investors have flocked towards cryptocurrency ADA.
In a statement, Stuart said “As Bitcoin surges, cryptocurrency investors are looking for the next golden goose, with one token, in particular, exploding in value and it is called ADA (the novel token of the Cardano blockchain”.
Like Dogecoin’s Community, Cardano’s community is growing stronger daily after the protocol rolled out several updates.
This will enable more functionality for the users on the blockchain. Some of such updates include the layer 2 solution, HYDRA.
HYDRA boosts the network of Cardano in terms of scalability which will topple the current proof-of-stake algorithm (Ethereum) currently employed on its Ethereum 2.0 platform.
HYDRA will see Cardano process over one million transactions per second (TPS) compared to the 100,000 transactions per second feature of Ethereum 2.0.
The founder of Cardano, Charles Hoskinson explained further with regards to the full operation of Hydra. In a statement, he pointed out that “Each Hydra head will reach the so-called Fast Finality, which means that the irreversibility of a transaction can be done almost in real-time, as commonly used in a Byzantine Fault Tolerance (BFT) protocol”.
Thanks to Fast Finality coupled with high transaction speed, micro-transactions are possible with Cardano’s blockchain.
Another feature is the introduction of BABEL FEES MECHANISM.
Babel Fees will allow users to employ native tokens to pay their transaction fees.
Unlike Ethereum (ETH) which is dominating DeFi with Ether (ETH) serving as the only digital coin to be used as gas fees (transaction fee), Cardano is opening up to the whole world of decentralized finance (DeFi) which will enable its users to pay for transactions on the blockchain with user-defined tokens.
User-defined tokens will give crypto enthusiasts a range of options of payments without solely relying on a novel token (ADA) to see every transaction on the blockchain through.
This whole set of technological benefits has the user in mind and with that crypto enthusiasts can boldly say, Cardano designs protocols by prioritizing the needs and interests of its users rather than trying to take decisions for its clients since it is supposed to be decentralized and Cardano plans to adhere to its patient-centered approach.
As Cardano Foundation continues to standardize, protect and promote Cardano’s Protocol Technology, the Cardano Community converges on different online platforms to discuss project growth and development.
Interesting topics such as news, movement of prices, recent partnerships and achievements as well as upgrades are thoroughly discussed primarily on Reddit as well as Twitter.
Looking at the number of thousands of investors who have such discussions, the interest in ADA is poised on increasing substantially in the near future and this will contribute to a rally in the price of Cardano.
Cardano Price Predictions For 2022 And Beyond
Long Forecast has predicted that Cardano will end 2022 $0.37 and start the next year at $0.43.
Wallet Investor is much more bullish about the future of Cardano. To the experts on the website, Cardano will correct its current trading price and rise back to the trading range of $2 to $2.6 per coin for 2022.
Digital Coin Price sees 2022 as a bit bearish for ADA and the third generation of blockchain technology will be trading at an average price of $1.4 in 2022, increase slightly in the following years (2023) at $1.85 and trade at $2.64 in 2025.
Coin Switch looks at Cardano with a view on the long term and sees the coin trade at $2 by the end of 2023 and a further 6500% price increment by the end of 2025.
If all the developers focus on the map of Cardano’s project, it will trade for $50 per coin at the end of 2022, go through a bearish situation as result of huge sell-offs by investors which will see the price drop to $23.81 in 2023. These are the sentiments of Mrvyasidea.com.
Tom Tragett of Libertex.com believes Cardano (ADA) will trade at a price of $1.32 in 2023 and cross the $2 price milestone, settling at $2.35 at the end of 2025.
Read More: Cardano Price Prediction
How To Invest In Cardano
There are several exchanges and brokerages out there but eToro ticks our boxes in terms of security, sustainability and scalability.
You have to go through a few steps to make the purchase of your first ADA coins possible.
Step 1 is to sign up with your Appropriate Details.
Step 2 is to go through a Verification Process called Knowing Your Customer (KYC) where you would have to upload authentic documentations to verify your account.
Step 3 is Deposit Funds (Fiat Currency such as USD, EUR and GBP).
Step 4 is Navigate the Cardano Page to purchase your first coins which will be completed and added to your account.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Is Cardano (ADA) A Buy In 2022?
ADA is a buy in 2022.
It’s a known fact that almost every business organization on the planet wants to be able to operate in an effective and efficient manner.
This can only be made possible with the introduction of blockchain technology.
Unfortunately, blockchain technology has issues in terms of scalability and security.
For some reason the only cryptocurrency company which has the needed resources to find permanent solutions to this problem is Cardano.
Cardano was built for ease, speed, self-custody as well as mobility and thrives on several pillars to drive its market capitalization through its price such as strong community, good brand recognition, good liquidity, testing and verifying approaches as well as a strong team of developers.
Cardano has partnerships with governments in developing countries such as Ethiopia, with Nigeria, Tanzania, Kenya and South African targeted next as part of the company’s Strategy for Growth.
Additionally, Cardano has partnerships with Poly Math, Scan Trust and PriceWaterhouseCoopers.
Such partnerships will soon see more people use Cardano’s blockchain which will increase its credibility and in the process lead to more adoptions by credible business organizations and increase in price as a result.
With new features which will allow native assets to be used to mint non-fungible tokens (NFTs), stablecoins, wrapped assets and lending protocol utility tokens will all play a vital role in not only bringing Cardano to the forefront of DeFi but help overtake Ethereum as the number one in the decentralized finance space.
Such future insights are what have made Atomic Wallet predict a great future ahead for Cardano.
The cryptocurrency believes ADA is a buy and could increase to $10 in 2025.
eToro – Best Platform To Buy Cardano
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.