After the Cardano blockchain’s ADA token becoming the third-largest cryptocurrency in the world, you might want to invest with the network. The following guide will be helpful.
Why Choose Cardano
This third-generation cryptocurrency is different from its competitors in many ways. For instance, it mostly focuses on the academic sector. It has a team that conducts thorough research.
Also, the developers of this project have some amazing goals. The team aims at restoring user trust in the systems used in the global economy. Thanks to its technologies, the platform is able to produce transparent, sustainable, and secure means of conducting international business.
Moreover, you can use Cardano in different sectors, from finance, agriculture, to healthcare. All this is possible due to its technology.
How Does Cardano Work?
Many issues face large-scale blockchains. Cardano is here to help assist in finding solutions to these problems. The good thing is, the approach it takes is based on research and the results are peer-reviewed.
This third-generation cryptocurrency addresses the following matters;
Scalability
Currently, Cardano has a scaling solution for its network. This is possible thanks to Hydra, a layer 2 scaling solution that processes transactions off-chain using state channels. This technology allows the platform to process more than 1 million transactions per second.
Security
Since Cardano allows interoperability, there are risks that users might encounter. Therefore, the developers have to address such security concerns. The platform works to ensure it has set standards that help manage user privacy and security.
Where Can You Buy Cardano?
As an investor, you need a crypto exchange offering Cardano. Some of the places where you can buy it include;
Kraken
This is suitable if you are a USA resident.
Binance
This is the best option for UK, Australia, Singapore, and Canadian residents. The good thing is, it is available in most parts of the world. However, if you are a US resident, you are prohibited from many tokens on the platform.
Easy Crypto
This is a regulated exchange that is appropriate for Australia, South Africa, and New Zealand residents.
Other sites that offer Cardano include Coinbase, eToro, and SoFi.
How to Store Cardano
You can store your Cardano ADA on a desktop wallet, a hardware wallet, or a mobile app. Remember, they have different characteristics. In case one doesn’t satisfy your need, go ahead and combine the three the utilize.
If you are a new investor in crypto, you can use a mobile wallet. You can download it for free. Also, you can set it up easily and it offers you relative security.
However, if you are an advanced developer, you can use a desktop wallet which gives you an added advantage due to the extra security feature.
On the other hand, if you are thinking of investing hugely with Cardano, you can consider buying the hardware wallet. It guarantees you better and improved security compared to the other options. It is only here where you have the “cold storage” great for safely storing your crypto offline.
Therefore, as an investor, you can choose how to store Cardano depending on your needs.
Don’t Be Left Out!
Cardano is increasingly having a huge following and is immensely growing as a network. This means that the blockchain with its unique approaches and advancements will stay in the industry for years.