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Posted January 09, 2021
How And Why To Buy Cardano Coins? Are They Worth?
The Input Output Hong Kong (IOHK) is the registered company that first invented Cardano in 2015.
It is the third generation blockchain technology that performs much better than the old blockchains.
Rather than working on similar coding of other blockchain technology, it has created its own and unique coding.
Once the predefined conditions are met, traders are free to transact and trade.
Cardano and its coin (ADA) is a new opportunity in the crypto trading industry.
People or beginners often get confused between the same.
Cardano is the blockchain technology whereas the ADA is the name of the cryptocurrency.
Like other blockchains, Cardano coin also focuses on decentralizing the web.
It allows people to create smart contracts between two or more people without any involvement of a third party.
How Does Cardano Works?
Before we explore how the mechanism works, we need to know what layers they work under.There are two different layers.
-The Settlement layer
-The Computation layer
The settlement layer allows the user/trader to transfer the ADA coins from one wallet to another.
It is fully operational and traders are using them.
The computation layer is still under the construction phase.
Through this, the traders can enter into the smart contract.
Where other blockchains work on the traditional one-layer model, the Cardano will operate with two different layers.
It is a fully automated process.
How to Buy Cardano Coins?
The Cardano coins are traded in Cryptocurrency exchanges.
It uses Ouroboros proof-of-stake technology. It is an advanced method that provides a secured blockchain for trading.
You can earn money depending on the value of the currency it holds.
Here are some of the steps through which you can purchase Cardano coins.
Open And Maintain An Online Account
It is mandatory to create an account on the platforms like:
- Kraken
- CEX.IO
- Binance
- EXMO
- BTCBIT
- BIT FINEX
Buy And Trade Your Crypto Currency:
Make your first purchase through the broker. Use the trading platform and purchase through two modes.
- By Market order- where you purchase currency at the current price rate.
- By Limit order-where you can purchase currency only at or below a specific price.
Keep A Track On Crypto Prices:
When you track the currency price regularly, it will show you the most advantageous time to buy and sell your currency.
Investment Forecast:
investing in Cardano coin has turned out to be more profitable than Bitcoin or Ethereum.
Though the value has gone down in the past years, it is more bullish than other Altcoins.
The coming years are predicted to be much better for this currency especially after Bitcoin Halving on April 2024.
Should You Buy Cardano?
It is especially for long-term investment and all predictions are that this is very good investment.
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