Why do people still buy Cardano?

Cardano Coin has often been described as the Bitcoin and Ethereum killer based on the special features lacking in these two major Cryptocurrencies with which the coin seeks to provide. The fact that the Cardano network has proved so strong over the years with its price showing rapid recovery after each dip has attracted more investors to this coin. Aside from this, there are many other reasons why people still buy this coin massively today. We have discussed them in this work for investors who are desirous to learn more about Cardano. 

What is Cardano? 

Cardano is a decentralized crypto Blockchain designed for running smart contracts using the Proof-of-stake mechanism. It has its native token for paying for all transactions on its network called the ADA. The Cardano coin has been developed to provide for all the limitations found in the earliest Cryptocurrencies that preceded it including Bitcoin and Ethereum. This coin was created by Ethereum co-founder Charles Hoskinson in 2017 to provide all Crypto developers with a more secure, robust, scalable, and cheap Blockchain platform for running smart contracts. 

Understanding the Cardano Ecosystem 

The Cardano Ecosystem has been designed to handle all kinds of transactions on its network. The goal of this coin is to become the Internet of all Blockchains. The Cardano Coin has been developed using the Proof-of-stake system which makes it highly Scalable and interoperable with other blockchains. 

How to buy the Cardano Coin

The easiest way to buy Cardano Coin is through a cryptocurrency exchange. To buy the Cardano Coin from a crypto exchange, one will first need to create an account with the exchange. Complete his identity verification process, fund his account, and then place his order for the desired amount of the Cardano Coin he wishes to purchase. The best crypto exchanges for buying the Cardano Coin are Binance, eToro and Kucoin. 

Why do people still buy the Cardano Coin today?

• Lucrative price increase growth since creation: Cardano has offered very attractive ROI to investors from its creation till the present time. The price has yielded over 5500% from its offering price of $0.0026 up to its all-time high at $3.1 created in September 2021.
• Built on a strong Blockchain: Cardano is known to have a very strong Blockchain. Its POS system has been built on an innovative algorithm called Ouroboros which is one of the most secure systems for users today. 
• Strong network Security: To enhance the security of the Cardano blockchain; its smart contracts have been programmed using Haskell programming language which is one of the most secure software languages, so as to reduce the risk of blockchain attacks and any form of DDoS hacking.
• Store of Value: The Cardano Coin has been used over time as an alternative store of values. Investors often saw it as an alternative means for diversifying their portfolios. 
• More eco-friendly than Bitcoin: The fact that Cardano uses the PoS system makes it more eco-friendly than any other Cryptocurrency using the PoW system. Hence, many consider it the major Web 3.0 cryptocurrency to outperform Bitcoin in the future. 
• Low price: The Cardano coin, despite ranking as the eighth most important Cryptocurrency in the world today with a market capitalization of $16.23 Billion, still has a very low price compared to other cryptocurrencies in the same rank as this coin. The price is currently below $1.00 and selling at $0.4227 as of August 26th, 2022. Investors are optimistic that the price of this coin can easily rise above $1.00 in 2022.

Image Source: BigStockPhoto.com (Licensed)

Disclaimer 

Cryptocurrency products are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

The information on this website is provided for educational, informational, and entertainment purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose.

The information contained in or provided from or through this website and related social media posts is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice.

The information on this website and provided from or through this website is general in nature and is not specific to you the user or anyone else. You should not make any decision, financial, investment, trading, or otherwise, based on any of the information presented on this website without undertaking independent due diligence and consultation with a professional broker or financial advisory.

You understand that you are using any and all Information available on or through this website at your own risk.

The trading of Bitcoins, alternative cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Site Disclaimer 

The Content in this post and on this site is for informational and entertainment purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by HII or any third party service provider to buy or sell any securities or other financial instruments.

Nothing in this post or on this site constitutes professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this post or on this site. 

You recognize that when making investments, an investor may get back less than the amount invested. Information on past performance, where given, is not necessarily a guide to future performance.