Digital currencies are booming out in there with no doubt people are looking forward to great investment options and one of the best things to buy in is crypto coins.
The value they have gets growing each and every day with no doubt in that. So well, today let us see how to buy Cardano in four simple steps.
But what exactly is Cardano?
Well, like any other crypto coins Cardano is one among them which was developed by Charles Hoskinson in the year 2015. The main motive behind Cardano was to create a cryptocurrency and smart contract platform that is sustainable, scalable, and interoperable.
The platform uses ADA as its currency in order to run smart contracts, similar to how Ether is used to run contracts on Ethereum. The ADA circulation is limited to 45 Billion coins.
Cardano is also a growing cryptocurrency. It ranks 7th on Coin Market Cap and has given approx 564% of ROI to its early investors.
You can check some other altcoins to boom your portfolio.
Now how do they mine Cardano?
Cardano mining is impossible because it is not part of the “Proof of Work” consensus. However, Cardano can be staked. There’s no cloud mining, GPU or CPU mining. All you need to do is keep your wallet online and hat’s it – the income distribution will deal with itself.
The more Cardano coins you own and stake, the more you will receive. The cryptocurrency uses a “Proof of Stake” system, which is considered to be beneficial to that of “Proof of Work”.
So now how to buy Cardano?
How to Buy Cardano in 4 simple steps
- Get yourself a Cardano wallet that comes with the features you are looking in.
- Update the location of your ADA address.
- Find an ADA exchange that gives you fewer fee charges.
- Withdraw the ADA to your wallet and that’s all it takes.
Best wallets to store Cardano
Currently, the storage of ADA can be done only on its official wallet, Daedalus. It is expected to soon add other cryptocurrencies for storage, and facilitate exchange between ADA and other crypto coins.
Some of the best sites to buy Cardano includes,
- Ledger Nano S or X: Ledger is a hardware wallet producing company from France which was found in December 2014. Well, the motive behind Ledger is to provide a secure solution to blockchain applications. App compatibility is not bad with a smaller screen compared to Trezor. This comes in the size of 98mm x 18mm x 9mm. Security features are good with the price of 119$ for premium purchase.
- Atomic Cardano wallet: Atomic wallet as the name says uses the technology known as atomic swaps which can be easily downloaded and installed. They support Windows, Mac, Ubuntu, Debian, and Fedora. Which saves your private keys in encrypted form. The atomic wallet supports more than 300+ cryptocurrencies. They also have mobile wallets that support Android and ios.
- Daedalus wallet:The Daedalus wallet is made for Cardano. Daedalus is the only wallet at the moment to support Cardano. The wallet was built to be used across several platforms. It enables the safe storage and transfer of ADA coins to and from other addresses. Daedalus is a hierarchical deterministic wallet that supports the creation of a number of accounts in a single wallet. Supports Windows, Mac, and Linux.
And some of the sites to buy Cardano,
- Coinmama ( Accepts Credit/Debit Cards)
- Binance ( Buy-in exchange of other cryptos )
- Bittrex ( Buy-in exchange of other cryptos )
- Bitpanda ( Accepts Bank deposit or wire transfer )
- Bitbns ( Supports INR )
What do you think is the best way to buy Cardano? Let us know in the comments.