What Is Cardano: Cardano Price Prediction And Where & How To Buy Cardano?

what is cardano

Preface

What is cardano?Cardano is now one of the top-ranking cryptocurrencies. It is now one of the top-ranking cryptocurrencies. The topics like Cardano price prediction, how high will it go, and is it a good investment are gradually common among people. If you want a deeper understanding of what is Cardano, Cardano price prediction, where to buy Cardano, just keep on reading.

What Is Cardano (ADA)?

it is a proof-of-stake blockchain and smart contracts platform with a native cryptocurrency called “ADA”. According to the official declaration, the platform is created for changemakers, innovators, and visionaries who are aiming to bring about positive global change.

It was the first blockchain to be peer-reviewed and developed by academic experts in the field of crypto. Charles Hoskinson, the co-founder of the Ethereum network, developed the Cardano platform in 2015 and then launched it in 2017. He is the CEO of IOHK, one of the organizations that promote the development of Cardano. IOHK and Cardano Foundation are non-profit foundations while EMURGO is a for-profit entity. There is a decentralized team that works across these three independent bodies to advance and evolve Cardano.  

It has set itself as an upgrade to Ethereum, which is considered a decentralized third-generation proof-of-stake blockchain platform. Both ada and Ethereum are used for similar applications, such as smart contracts, and they are committed to building a connected and decentralized system.It utilizes Ouroboros—a proof-of-stake algorithm—to create blocks and confirm transactions taking place on its blockchain.

Alike Bitcoin and Ethereum, Cardano coin is a cryptocurrency asset. Ada is the native token of Cardano. Any user can use ADA as a secure exchange of value. On the Cardano blockchain, every transaction is permanent, secure, and transparently recorded.

Every ADA holder owns a stake in the Cardano network. Follow the intro on the Cardano website, ADA stored in a wallet can be delegated to a stake pool to earn rewards – to participate in the successful running of the network – or pledged to a stake pool to increase the pool’s likelihood of receiving rewards. 

The platform uses ADA as its digital asset to run smart contracts, just as Ethereum uses Ether to run contracts on Ethereum. Ada’s supply has a limitation at 45 billion ADA, and its circulating supply now is just under 32,000,000,000. At the time of writing, ADA is the fifth-largest cryptocurrency in the world by market capitalization.

How To Mine Cardano(ADA)?

Cardano cannot be mined because it is not part of the “Proof of Work” consensus. However, it can be staked. 

The good point of staking is that its power or energy need is much less. To stake is to lock cryptocurrencies in order to receive rewards. The process of the Cardano mining algorithm is called Ouroboros, which is a significantly efficient method compared to other crypto mining protocols. 

Cardano(ADA) Price Prediction

Cardano (ADA) Price History

As mentioned before,It began in 2015. But it is until October 2017 that investors can trade this open-source, decentralized cryptocurrency. Its price recorded from late 2017, which was trading between $0.02 and $0.5. Later, ADA price created a new high at $1.1141 on Jan. 4, 2018, but then started declining and hit as low as $ 0.0275. This may mainly due to the strict limitation towards the crypto sphere from some governments around the world.

Cardano Price Prediction

2019 and 2020 are silent years for Cardano that the ADA coin price was hovering below $0.2 and registered an all-time low at $ 0.0191 in 2020. It is good to see that Cardano start climbing up to $1 this year and finally set a new all-time high at $2.31 per ADA coin on May 16.

Cardano Price Prediction 2025

It can be said the Cardano coin price is kind of stable and still well within price discovery mode.

Cardano(ada) Price Prediction 2025

The current price of Cardano is $1.56 as of writing. It’s already halfway through 2021. In the next six months or so, what will the price trend of it be like? Will Cardano price reach $10? Let’s see what would analysts say about the Cardano price prediction.

Analysts on Bexplus think that it may not reach $10 until 2025. Yes, ada is getting lots of attention for its efficient Proof of Stake mining process especially after the suspension announcement to Bitcoin payment of Tesla. If the network focuses on limiting its carbon footprint, then it might largely attract environmentally conscious investors, bringing the price up to $5 by the year-end. 

If ADA keeps building the user base and its protocol, it may enlarge its traffic and gain more investors, such as institutions. With years of development, the price of it might hit $5 in 2025.  However, If any negative perceptions and attitudes occur, the price can also plunge to some extent. 

How To Buy Cardano (ADA)?

Step 1. Get A Cardano Wallet 

Cardano is a kind of new project that is still under development. By now, there are few wallet options available for storing ADA. 

Hardware Wallets

If you want a definitely secure wallet to store your ADA, a hardware wallet could be your best option. It keeps your private keys offline and largely prevents being hacking. The recommended hardware wallet like Ledger Nano X.

Software Wallets

The most convenient way to store ADA could be to use a free software wallet such as Exodus which supports both desktop and mobile. Another nice option is Atomic Wallet that allows you to store ADA and over 300 additional cryptocurrencies and also is available for desktop and mobile.  

Step 2. Locate Your ADA Address

Once you get your Cardano wallet, please well locate your ADA address. It’s a quite long string of letters and characters that starts with a “D”.

Step 3. Buy ADA On An Exchange

Since Cardano is more and more mature, so where to buy Cardano should not trouble you. Now there are many exchanges that allow you to buy Cardano and trade ADA like Coinbase, CEX. io, Kraken, etc.

Step 4. Withdraw The ADA To Your Wallet

After buying the ADA, please make sure to transfer the coins to your own non-custodial wallet, which is a much safer way to store your coins. Once the coins arrive in your wallet, the buying has successfully completed.

Where To Buy Cardano (ADA)?

If you are searching for an exchange that is suitable for you, you don’t want to miss the following intros.

Through Coinbase

Coinbase offers an instantly buy Cardano service to traders with a debit card, bank account, or Paypal. The exchange is available for users from over 100 countries and claims low fees (especially when using ACH transfers in the US).

Coinbase is born in 2012 and is popular among most traders. However, its quality of support is kind of criticized by its users like no live support available and an offline response time that’s too long. Still, it is probably the cheapest and fastest option for buying ADA.

Through CEX

CEX. io allows traders to buy Cardano with a credit card, debit card, SEPA transfer, ACH, and wire transfer. It is a cryptocurrency exchange that started out in 2013 and suitable for beginners and veterans. It is worth noting that you’ll need to verify your identity before you buy a cryptocurrency, which means KYC (Know Your Customer) is necessary.

Through Kraken

Kraken offers a wide selection of crypto assets and traditional currencies, with over 100 trading pairs. Whether you want to sell BTC or sell USD for ADA, they can provide a powerful and active global market with flexible liquidity. 

Founded in 2011, Kraken takes security seriously and requires name, date of birth, country of residence, and phone number before buying ADA. If you want to use fiat currency, you’ll need to provide them with additional supporting documents to verify your identity.  

Conclusion: Is Cardano A Good Investment?

It continues to grow in popularity and has had a good start to 2021, but things change extremely quickly in the world of cryptocurrency as the market is volatile. It’s hard to tell if it will continue to rank at the top cryptocurrency list in the future, with such fierce competition from Ethereum, IOTA, EOS, and others. And any Cardano price prediction and Cardano future are only kinds of analysis and guessing, investors should always do their own research before investing.