Cardano – Straight to Global TOP-10 by Market Cap
Cardano is the most successful project among all young cryptocurrency developments. It was launched in September, 2017 and by the end of 2017 the coin was already in global TOP-10 by market cap! This is an incredible result no other cryptocurrency can compete with at the moment.
Haskell-based coin was developed to make financial flows more "democratic" and it looks like people like it. By the end of February, 2018 Cardano climbed up to the 7th position in the global market cap ranking! There is still a huge gap between Cardano and NEO that hold 6th position, however overall trend is very positive for Cardano.
What makes Cardano different
Cardano developers picked very cautious and smart tactics. Creating a product allowing for easy international transactions they considered all kinds of legal requirements. Therefore Cardano fully conforms international legislation and the legislation of most countries.
Cardano coin is called ADA, and it is probably the only coin in the world perfectly combining security, confidentiality and transparency. The latter is especially important for tax bodies. In other words, using Cardano there is no risk of doing anything illegal.
We are used to much hype around new projects with big investments. However there was nothing like that with Cardano. Its developers know that their product is worth the best and do not try to promote it everywhere. Those who are interested in cryptocurrencies know Cardano very well. Due to high position in the global ranking Cardano is now known to newcomers as well.
We can observe some stagnation in ADA exchange rate during the end of January and the whole February, 2018 – it has been remaining on the level of approximately 0.33 USD. The exchange rate of ADA used to be much better, but such periods occur and it's normal. It doesn't look like a long fall, it rather looks like a low position which will be corrected soon.
Advantages of Cardano
The first advantage has already been mentioned – transparency. Cardano is a system approved by different governmental organizations. It has a state-of-art protection system preventing misuse of the system.
Users of ADA coins are very happy due to no internal commissions. One can send and accept funds without paying any fees! In combination with instant payment processing we get a very serious advantage. If we consider Cardano not only from the point of investment, but also from the point of use, fast transactions are crucial for any trader.
The system uses a well-known Proof-of-Stake principle together with Ouroboros protocol enabling for rapid data exchange. Cardano system is unique about data processing too – users' personal information is not saved on servers. Technically, it is not saved anywhere, so there is absolutely no possibility of stealing such information.
Following the ideology of free Internet Cardano creators made the source code available for everyone. However, it does not mean that any users can make changes. In case if someone wants to add something, other users vote for or against.
When creating a new cryptocurrency developers today try to create a new environment with as many additional things as possible. The same is about Cardano – actually, it is not just a coin, but a full-fledged and functional payment system. You can order a debit card assigned to your ADA account and pay using it everywhere. ADA coins will be automatically converted into the needed currency. This looks very interesting, doesn'it? At least, they offer a good alternative to banks.
No one can block your money and make this debit card useless. Banks have far more control over their users than Cardano and than other similar systems.
There is also an easy-to-use application for iOS and Android allowing users to access their ADA wallets. Now you can check the balance and do some basic operations with coins using a smartphone.
Cardano team has great plans for the nearest future such as installation of dedicated ATMs in the biggest cities of Japan. Cardano card holders will be able to withdraw money in several different currencies. At the moment we have no information about withdrawal fees, but these hardly be too high. We don't know about the possibility to upload money either. Probably Cardano team will make a more detailed announcement in summer, 2018.
How to get ADA
Cardano is a system without mining, so you do not need to spend money on costly mining equipment or look for a mining pool. ADA coins are distributed via staking. For instance, one can earn some coins for confirming operations. Awards are distributed randomly, but you should keep in mind that the more coins you have at the moment the better are your chances to get few more. This is just mathematics, check it yourself and you will get the same result.
It is very easy to buy ADA today. The coin is available at nearly all major exchange platforms like Bittrex, Binance, gate.io and others. Having such a wide range of credible exchanges it makes no sense to buy Cardano elsewhere – remember, there are plenty of fraud services offering unbelievably low rates. It's better to steer clear of such exchanges.
Most of cryptocurrencies are good for short or medium term investment. It's not a big secret that people use electronic money for resale without keeping these for long. Many traders make a living by buying and selling coins every day.
It is different with Cardano, though. ADA coins today are at the cheapest stage and we highly recommend to think about buying them now. From the other hand, such a stagnation can last for months and you should be ready for this. It will hardly happen that you buy some coins today and sell these tomorrow with high profit.
ADA is more likely a long term investment. Experienced traders agree that Cardano should start growing steadily by the end of 2018 and keep on in next years. If Cardano wins this game of chicken it will have really good prospects and a great number of new followers from all over the world.