Cardano has become one of the top-performing all-digital assets on the market, and ADA still sits well within the coveted top 10 spots available. The Cardano project’s ADA cryptocurrency is currently sitting at 45 billion in circulation, but does it still have the weight that it used to?
What is Cardano?
The Cardano project was an open-source attempt to create an optimized, decentralized transfer and communication system, with a heavy focus on modularity. ADA is the cryptocurrency that backs it up, creating an easily available digital currency that still holds quite a significant sway. In fact, since the start of the year, the value of ADA has continued to rise.
Like all other cryptocurrencies, ADA can be used to purchase, trade, and exchange for goods, services, money, and other crypto coins. It is available across a range of markets and is only continuing to get more valuable with the Cardano blockchain backing it up the whole time. This blockchain is secure, reliable, and safe from outside influences.
Cardano ADA is not a special currency in any major way, and it does not have unique uses or features that the average person will use. This helps keep the value in check and allows it to be used as a stable currency with only one purpose – to buy and sell. There isn’t really a way that you can sink hundreds of ADA into something and remove them from circulation permanently.
What makes Cardano different?
The Cardano blockchain that handles ADA currency is one of the largest protocols around and uses a proof-of-stake consensus that reduces energy usage. A peer-review system means that everything within the blockchain can be checked and challenged as needed, so there are no sudden changes to the way that everything works.
This also applies to the currency. Thanks to this stability, the price of ADA does not sporadically rise and fall, especially since only a certain amount is in circulation. However, this also does not stop the price from gradually rising, so a profit is always a possibility.
Another benefit is that this stability makes sudden pitfalls and dips much more obvious – when something goes wrong, it is not by chance, but because something is affecting the market or the value of ADA specifically. If you are interested in a stable cryptocurrency, then this is an excellent example.
Where can I get ADA?
ADA is available in most crypto exchanges, as well as on the system itself. Since only so many are in circulation at once, the price is changed based on supply and demand rather than the actual value within the Cardano system. You will not suddenly have to pay more just because Cardano ADA owners get an extra perk on the network.
Because of this, ADA can be bought in basically the same way as any other cryptocurrency. To buy ADA Cardano, you just have to look on an exchange, find a listing, and then buy as many tokens as you want. Selling them is the same, too, since they have no special properties that would alter this.
Should I buy ADA?
ADA has exploded recently, so it is already at quite a high price compared to how it started. Even if you missed that sudden spike, though, there is a high chance of Cardano ADA spiking again soon since it has managed to stay in the #7 spot for a while without dipping.
There are hundreds of cryptocurrencies out there, and ADA remains in the top 10, making it a very approachable option for seasoned investors. While the price can be very high for a first-time investor, it could also be a good risk if you want a currency that probably will not dip very severely.
Since Cardano and ADA are completely decentralized, nothing can influence the price other than the market. There also is not inflation on the scale of tokens like DOGE, which have no limits and can keep replicating endlessly. ADA is a lot ‘safer’ and a lot more straightforward, in a good way.
This simplicity means that it is a great – but currently quite expensive – choice of cryptocurrency. There is always a chance that it will manage to rise even further since #7 is not that far away from entering the top 5 cryptocurrencies of all time.
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