Cardano (ADA) is a decentralized blockchain platform designed as an alternative to Ethereum, but faster, scalable, and secure. The ADA cryptocurrency has been in the top ten for a long time, surpassing such currencies as XRP and DOGE in capitalization.
What is Cardano?
Cardano is a multi-level blockchain platform, written in the Haskell programming language and designed to create decentralized applications (dApps) based on smart contracts. The Cardano network operates on the basis of the Proof-of-Stake (PoS) consensus algorithm, more precisely, the Ouroboros protocol. It provides mathematically verifiable protection against intruders. Cardano is positioned as the first blockchain platform that develops on the basis of a scientific philosophy and a research approach. The native cryptocurrency of the Cardano network is ADA, which not only plays a crucial role within the system, but has already managed to perfectly prove itself in the market. ADA is liquid and provides an opportunity to earn money on exchange rate fluctuations for investors and traders.
Brief history of Cardano
The platform began development in 2015 and was launched in 2017 by Charles Hoskinson, a co-founder of Ethereum. Hoskinson left Ethereum after a dispute with one of its co-founders, Vitalik Buterin. Hoskinson wanted to accept venture capital and create a for-profit entity, while Buterin wanted to keep it running as a nonprofit organization.
After leaving, he co-founded IOHK, a blockchain-engineering company, whose primary business is the development of Cardano, alongside the Cardano Foundation and Emurgo. The platform is named after Gerolamo Cardano, while the cryptocurrency itself is named after Ada Lovelace.
Why should I trade Cardano?
Answering the question why it is worth trading ADA, the following arguments can be given:
- The ADA cryptocurrency is one of the most promising and liquid coins today, as evidenced by its presence on the 5th line in CoinMarketCap.
- The price of ADA is extremely volatile. Literally at the beginning of the year, ADA was trading at $0.1, and six months later the price jumped sharply to about $2. With such fluctuations, the instrument looks attractive for both long-term and short-term investments.
- Although this cryptocurrency has been on the market for only a few years, it has managed to become one of the most popular coins.
As of June 28, 2021, the price per one ADA coin is about $1.3, and the market capitalization of the crypto asset is $42,744,189,842. At the same time, the minimum cost of a coin for all its trading time on the exchange was $0.01, and the maximum was $2.46.
Where to trade Cardano?
ADA has been trading on the exchanges for several years and has managed to garner the attention of traders and investors. Therefore, you can easily buy or sell ADA on many trading platforms. Some of the best are presented below:
- Binance – a distinctive feature of the exchange is that when exchanging cryptocurrencies, Binance fees are among the lowest. Customers are charged 0.1% for each transaction.
- 7b – your trusted intermediary in the world of cryptocurrencies, provides low and transparent commissions and more than 2000 cryptocurrencies for trading.
- ZBG – a multifunctional and multi-currency exchange. Both the most popular currencies and little-known ones that are already of interest to the community are available.
How to buy Cardano (ADA)?
To buy Cardano (ADA) an exchange or a swap platform is required. In both cases you will have to verify your identity, while the transaction will be connected with fiat money.
While the crypto market is full of scam projects, we recommend our users to use credible and verified services to buy cryptocurrencies such as:
- ChangeNOW
- Coinbase
- KuCoin
When the transaction is confirmed the funds will be transferred to your account within a couple of minutes.
What to do after I buy Cardano
While ADA is a cryptocurrency and has a lot of use cases, however the most common ones include:
- Trading – fund your broker account with ADA and start earning money buy buying dips and selling heights
- Stacking – hold ADA on a stacking account for a certain amount of time and get a reward
- Purchasing – not the most common, but still possible way to spend ADA is to use as a traditional currency – nowadays there are hundreds of merchants accepting ADA.
How to trade Cardano using the 7b crypto broker app?
Undoubtedly, one of the best ways to trade ADA is to use the 7b crypto broker app. On 7b, you are able to buy or sell ADA at the best rates on the market without effort and with minimal time expenses. Just follow the instructions:
- Log in to your 7b account.
- Top up your balance.
- Choose a trading pair that suits you, for example, BTC/ADA.
- Fill in the transaction details.
- Confirm the transaction.
FAQ
Is Cardano a good investment?
Yes, Cardano is recognized as the most actively developing crypto project and has been among the top 10 leaders for a long time. This fact makes it a good long-term investment. And the fact that the coin is still quite young and subject to high volatility makes it possible to make money on short-term investments.
How do I invest in ADA?
You can buy Cardano (ADA) on many major exchanges and crypto brokers. The process is approximately the same: sign up for an account, pass verification, top up the balance, select ADA and the cryptocurrency you want to buy it with, and enter the desired amount.
How to trade Cardano for beginners?
When choosing a coin for investment, remember that the smaller the market capitalization, the riskier the investment. But it is such coins that give the greatest profit, since they are extremely volatile. To buy or sell ADA on 7b deposit your account, select a trading pair (e.g. BTC/ADA), enter the amount and confirm the transaction.
How to buy Cardano cryptocurrency?
You will not have any difficulties with buying ADA since the coin is traded on all known exchanges and brokers. To buy ADA on 7b, log in to your account, top up your balance, enter ADA in the search bar and choose the cryptocurrency you want to buy it with, enter the details and confirm the transaction.
What is Cardano Blockchain?
Cardano is a third-generation multi-level decentralized blockchain platform based on an improved PoS algorithm, namely Ouroboros, designed to create smart contracts. The programming language is Haskell.
