A review of cardano

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It is easy for many cryptocurrency investors to focus much on the big currencies and not pay attention to others that might be more profitable. Being the 7th on the market cap list, Cardano has a high potential of making you a millionaire.

What is Cardano?

Many might be thinking what the heck is Cardano. It is a cryptocurrency that is entirely built in the Haskell language. This implies that it uses a math-based approach that results in a more secure and reliable protocol.

The blockchain on which this coin is built is research-first driven, meaning that this coin might have more features when compared to larger coins such as ethereum. To ensure the future sustainability of ADA, the ticker symbol of Cardano, the developers have incorporated a multi-level approach.

The main goal of ADA

Just like any other coin on the blockchain technology, the developer of Cardano wanted to achieve something. The development team of this coin, (Input Output Hong Kong) wanted to create a platform that would enable smart contract, just like ethereum.

This would enable users of this platform to create decentralized apps using any of the major programming languages such as Java, C++ or JavaScript. This is perhaps the reason this currency is referred to as a platform for app developers. Apart from being a smart contracts platform, the developers would also like the interoperability to allow transactions across the various blockchains.

Reasons to invest in ADA

A real investor focuses more on how to make profits even when everyone else is making losses. While the cryptocurrency markets look shaky, ADA market gives some hopes to investors. Let us look at some of the reasons why you should consider investing in Cardano.

Long-term project

Unlike many other coins whose primary focus is to get record-breaking profits through ICOs, ADA developers are focusing on something else. They have taken much of their time developing the currency. This is to ensure that the coin provides a long-term investment not just to the team but investors as well.

First growth

By the time this coin was being launched, one could get it at $0.02 as listed on the Bittrex, one of the largest cryptocurrency exchanges in America. Today, the coin is listed at $0.11, showing a whopping 450% growth is less than three months. As an investor, it is evident that this presents the most profitable venture ever.

An ambitious project

If you are looking for a project whose developers are genuinely determined, then you would be wrong to bypass ADA. While the long-term ambition is to enable intra-trading, their short-term objective is to see investors get value for their money.

How to get Cardano

If you are having the idea of getting ADA, then you should first consider some things. Below, I will take you through 3 simple steps that will see you a Cardano trader.

Step 1: Choose a wallet

Given that this coin is still young and under development, the available wallet options are also few. As of this moment, the only viable option is the desktop wallet, commonly referred to as Daedalus.

Step 2: Buy Cardano

You will appreciate the fact that Cardano only became available for exchange in October 2017. It is for this reason that you will hardly find many places to buy Cardano. However, you can buy it from any crypto exchange service provider listed below:

  • Bittrex
  • Binance
  • Bitmex
  • Coinnest

One good thing about this coin is that one can buy it either by cash, credit card or PayPal.

Step 3: Withdraw ADA

This self-explanatory and does not need much to explain. Isn’t it obvious that after earning you need to withdraw to your wallet?

Statistics

Name Cardano
Ticker symbol ADA
Initial release September 29th, 2017
Wallet Daedalus
Algorithm OuroBoros
Founder Charles Hoskinson
Coin supply 31,112,483,745 ADA

 

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