- 1 Cardano (ADA), a decentralized public blockchain and digital asset is considered to be one of the biggest cryptocurrencies based on market value.
- 2 ADA’s current price is $0.2507, a decline of 80% in the past 24 hours with a market cap of $8.8 Billion.
Day by day, the craze and popularity of cryptocurrency are booming in the financial sector. Countries as well as businesses are accepting cryptocurrency, especially Bitcoin as a new payment system. After Bitcoin, several cryptocurrencies were introduced into the crypto market by different individuals. Cardano is one of the powerful tokens introduced in 2015, securing a recognized position in terms of market value.
What is Cardano (ADA)?
Cardano is a proof-of-stake (PoS) blockchain that is all set to bring a positive global change in the crypto as well as financial system. The cryptocurrency was introduced by Charles Hoskinson in 2015 with the motive to offer developers and investors a positive change.
Cardano is both a blockchain and a cryptocurrency, mainly designed to run a decentralized network using smart contracts. In simple terms, Cardano is a set of code streaming on the blockchain and is categorized into layer-1 cryptocurrency.
The combination of peer-reviewed code and scientific philosophy guarantees code quality and solves most of the issues associated with scalability, decentralization, and security. Cardano’s main network went live in September 2021 through the software update Alonzo, making it possible for the developers to design decentralized applications on the network.
Complete Working of Cardano
In the crowded and competitive world of cryptocurrency, Cardano stands out, holds an effective position, and is considered to become a bullish crypto asset soon. The third-generation blockchain offers low fees, and high transactions per second (TPS) PoS network solutions.
The PoS system permits cryptocurrency holders to validate the transactions over the blockchain. The validators earn rewards for functioning the system whereas, the owners of the cryptocurrency are permitted to stake the coins with the validators to earn rewards. PoS consensus protocol also reduced the energy cost of the network mainly when compared to Proof-of-Work (PoW).
After exploring the concept and its working, it’s time to explore the ways to buy Cardano.
Where to Buy Cardano?
Cardano is both a digital currency and a way to make transactions on the Cardano blockchain. To buy one, you need to have an account on one of the crypto exchanges that supports ADA tokens as well as a Cardano wallet. Creating an account on a crypto exchange, adding funds to the account, buying the token, and storing the same in the wallet is a simple procedure for buying Cardano or any other cryptocurrency.
After knowing the basic process of Cardano purchase, it’s time to explore the available options. If looking for a crypto exchange, Binance, OKX, Coinbase, KuCoin, and Kraken are some of the exchanges that support ADA. You can choose any of the exchanges based on your preference. One thing to keep in mind while selecting the exchange is the transaction fee and accepted payment method.
Once you choose the platform, just create an account, and place an order to buy ADA for the amount of your choice. The purchased ADA’s can be stored in both the hot and cold Cardano wallets including Typhon, Trezor, AdaLite, Trust Wallet, and Exodus.
Now you are all prepared to buy the ADA token for the amount of your choice. The next thing to consider is the modes of purchase. Interestingly, you can buy ADA with cash, a Debit card, and a Credit card.
Buying Cardano with Debit and Credit card
On the crypto exchanges, Cardano can be purchased using fiat currency including dollars, euros, and pounds. Connecting your bank account with the chosen crypto exchange and transferring money to the exchange is a simple process you need to follow.
To use your physical cards, you simply need to create a Cardano Wallet on the crypto exchange along with getting it approved before buying the Token. Coinbase and Coinmama are some of the common platforms you can use. Another option you can select for buying ADA coins is PayPal, one of the fastest and safest ways to make transactions or online payments. However, you can do this through peer-to-peer (P2P) crypto exchanges like BitValue, a platform that makes buying and selling of crypto instant and anonymous. Registering an account, choosing ADA cryptocurrency, selecting PayPal as a payment method, and following the procedure are all you need to do to transfer ADA coins to your Cardano wallet.
Before buying ADA, one thing you should keep in mind is the current performance of the coin and its future forecast.
Current Performance and Price Prediction
The day Cardano was introduced to the crypto world, the coin is reaching new heights on a daily basis. The current ADA price is $0.2507 with a market cap of $8.8 Billion. The 24-hour volume of ADA is $178 Million with a circulating supply of 35,218,633,099 ADA.
ADA value is expected to skyrocket soon, considering the current performance and realistic ADA price prediction. ADA price prediction for 2025 is currently between $0.304881 on the down end and $1.052219 on the higher end, a hike of around 320% when compared to the price of ADA today.
Moving forward, ADA price prediction for 2030 is currently between $0.166865 to $0.439954, which is a hike of approximately 75% when compared to ADA’s current price.
Cardano, one of the tough competitors of Bitcoin and other cryptocurrencies, is predicted to secure a more powerful position in the future. You can buy the respective coin from crypto exchanges including Binance, OKX, Coinbase, KuCoin, and Kraken. In addition to this, cash, debit or credit card, and PayPal are some of the options you can use to purchase Cardano. Cardano Wallets such as Typhon, Trezor, AdaLite, Trust Wallet, and Exodus can be used for storing the purchased coins.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.