What is Cardano ADA ?
One could compare ADA Cardano with Ethereum. Indeed, crypto currencies can be built from two types of blockchains :
- The Proof of Stake, which aims to set up smart contracts and the deployment of decentralized applications, called dApps
- The Proof of Work, found on Bitcoin. The objective here is to have each transaction validated by miners, then to validate the entire blocks by cryptographic principles. This is called crypto mining.
It is not possible to mine a crypto with a Proof of Stake algorithm like Cardano. Their verification goes through staking, which is a principle that relies on the storage of crypto to verify it. Many platforms offer Cardano staking programs in reasonable amounts.
The short history of the Cardano ADA
This does not tell us what exactly Cardano is. $ADA is already the token of the Cardano crypto project.
This is the story of a success story. Once upon a time Cardano crypto.
It quickly rose in value, going from $0.02 per unit to $1.33 in just four months.
- Because yes, the historical peak (ATH) of Cardano is on January 4, 2018 and the launch of this one was at the end of September 2017
- The year 2019 is rather stagnant, at $0.10 per unit
- In March 2020, Cardano falls, like all other cryptos. It drops to $0.025 per unit. A disaster
- Fortunately, it has since had time to recover, ending at $0.56 in May 2022.
- After having relapsed around $0.30, it rebounded in September 2022 and again reached more than $0.50.
How ADA Cardano works
Cardano operates on its own blockchain, developed by engineers who followed a scientific approach to create it. The project is one of the children of Ethereum which aims to develop environments for the famous dApps (decentralized applications).
Like other projects that develop decentralized applications, Cardano uses smart contracts. The blockchain advances arguments of reliability, security and speed. The key words in the world of crypto.
The Cardano blockchain has two distinct aspects, two layers :
- The one that records and validates transactions
- The one that processes and stores smart contracts
The verification consensus used on the Cardano blockchain is the Proof of Stake. This means that there is no mining to speak of. Transactions are verified through staking, which works through the provision of tokens that form a reliable and energy-efficient verification process.
How to buy Cardano ?
First, let’s take stock of the ADA Cardano price action. So far we have not talked about the price of ADA Cardano and the ways to buy the tokens.
Calculate the ADA Cardano price
One of the challenges of all blockchains is the fees that have to be paid for each transaction carried out on the blockchain. This is, for example, one of the major disadvantages of Ethereum: the fees are very high and users have to pay dearly for each transaction.
In response, the other blockchains that are being developed via smart contracts provide solutions. Cardano offers fees that are low with a fixed fee and a variable fee.
In any case, each transaction will cost 0.155381 ADA, to which a variable of 0.000043946 ADA per byte of the transaction size must be added.
Where to buy ADA Cardano ?
There are 3 solutions to buy one or more Cardano ADAs :
ADA Cardano crypto: when should brokers be preferred ?
Brokers are actually online brokers, experts who offer crypto trading services to the general public. Many brokers are geared towards beginners and offer very intuitive platforms to get started.
The choice between broker and exchange must essentially be made on the basis of your objectives. If you want to bet on crypto prices and take short-term positions, then the broker turns out to be the most relevant for you.
Il existe de nombreux brokers crypto qui proposent d’acheter du ADA. Par exemple : Vantage, PU Prime, eToro.
There are many crypto brokers that offer to buy ADA. For example: Vantage, PU Prime, eToro.
Vantage is a very well-known and reputable broker in the field of trading. He is one of the pioneers in his sector. The broker opened up to cryptocurrencies the moment they arrived and now offers services for these financial assets as well.
To start, Vantage is a good broker, easy to learn and versatile.
Which exchanges for ADA Cardano ?
In short, exchanges are platforms where cryptocurrency enthusiasts trade Cardano ADAs. The offer is very competitive and there are many crypto exchange platforms around the world. There is also a distinction between some platforms that are decentralized and others centralized.
We are of the opinion that you should choose a known exchange, such as Binance, which is one of the cheapest and one of the most reliable offered online.
A few words about crypto wallets
The wallet is an electronic wallet on which you own your cryptocurrency. A bit abstract all this, we agree. However, this wallet allows you to receive, and especially to pay in ADA Cardano. And that is very interesting.
There are several types of wallets on which it is possible to store your Cardano ADAs. The easiest to use are browser wallets : wallets that can be installed in a few clicks on your web browser. For example, Metamask, XDEFI, Phantom, …
What are the predictions of Cardano ?
Our opinion ADA Cardano ? This is a very promising crypto, at a time when Bitcoin, the mother of cryptos, is starting to show that it is reaching its limits.
The bright idea of the scientists who are behind it protects them against possible hacking (even if we are never sure of anything in the world of crypto today).
They worked with hackers to detect security flaws in their system. Cardano is therefore less vulnerable than other cryptos.
On the other hand, the Cardano forecast from the experts could not be more favorable. A rise of $0.054 was predicted for December 2020. It turned out. For the time being, the medium and long-term prediction is very reassuring, since a sharper evolution is expected, i.e. $0.092 by January 2024.
Even if the year 2022 is marked by a bear market that has lasted for a few months, Cardano is one of the crypto projects whose development does not stop and which has great ambitions.
Recently, the network went through its hard fork Vasil which aims to significantly improve the network by lowering transaction fees. The goal is to improve the development of decentralized applications and attract developers.
Everything suggests that ADA Cardano will be among the major projects in crypto for a long time to come.