How To Buy ADA Cardano – Get Your Cryptocurrency For Pennies

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Why wonder how to buy ADA Cardano? Why not? It’s a cryptocurrency that you can buy for mere pennies. Currently worth about a nickel per coin, here’s how and where to buy it.

Cardano sounds more like the name of a fancy sports car or a luxury hotel than a cryptocurrency. This fairly young altcoin isn’t making waves yet, but for a coin that’s barely two years old, it’s holding its own.

What Is Cardano ADA?

According to Cardano’s website: Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.

Cardano

Cardano is a blockchain technology that uses the ADA cryptocurrency as its source of value. It is a generalized computing platform where you can create decentralized applications (dApps), similar to the features of Ethereum.

The ability to create smart contracts is in the near future. There are a number of technical definitions for smart contracts in the blockchain world. Basically, it’s coding that executes when certain conditions are met. This eliminates the need for a third party, such as an attorney.

A key innovation is the separation of the accounting and computation layers. This is meant to solve the perceived problems in Bitcoin and Ethereum of scalability, interoperability, and sustained ability.

The separation allows for problems regarding these issues to be worked on and solved without interfering with the functioning of the entire system.

ADA

ADA is Cardano’s cryptocurrency, much like XRP is Ripple’s and ETHER is Ethereum’s.

Currently worth just over five cents per coin, ADA is enjoying a very slight upward trend. That is something to keep an eye on if you’re an investor.

However, in January of 2018, ADA hit its all-time high of $1.33, which was followed in that same month by a crash to $0.30 per coin. Slowly tapering down in value since then, we can rejoice to see it on the rise.

Remember: buy low, sell high. That is almost always the rule of wisdom because most people buy with enthusiasm and sell with panic. Keep your emotions in check.

History Of Cardano

Cardano was co-founded by Charles Hoskinson and Jeremy Wood; these men collaborated to form Input Output Hong Kong (IOHK). IOHK was contracted to build and maintain Cardano until 2020.

Hoskinson partnered with the Cardano Foundation, which is an independent company based in Switzerland. Its primary duties were to oversee and supervise the development and ecosystem of Cardano.

The final company responsible for Cardano is Emurgo, an organization that focuses on supporting and developing the commercial adoption of its clientele.

In 2015, 95% of Cardano’s backers were Japanese. It was released to the public in 2017 after its initial coin offering (ICO).

Cardano is unique in that is was made by and appeals to the great thinker community. After all, Cardano was named after an Italian polymath, Gerolamo Cardano.

His expertise included mathematics, biology, physics, chemistry, astrology, astronomy, philosophy, and writing. He was also a doctor and a gambler.

ADA was named after Ada Lovelace. She was an English mathematician and writer who was known for her work on Babbage’s idea of a mechanical computer. She was the first person to understand that such a machine had potential uses beyond that of mere numerical calculations.

Why Invest In Cardano ADA?

Why should anyone invest in Cardano’s ADA? Why not some other, more established, altcoin? Why even an altcoin?

Benefits

  • It’s currently in a bearish market, meaning its price is very low.
  • It was developed by experienced individuals.
  • It is maintained by three separate countries around the world.
  • It is recognized as a valid cryptocurrency, world-wide.
  • There is nothing shady about it; you can find all kinds of information about it.
  • You can watch its value change on most live-update websites.
  • Cardano is a cool-sounding name. (I’ll show myself out.)

Negatives

  • It’s so low that it could be a while before investment profits are realized.
  • It’s not a good grab for day traders.
  • Not many stores accept it, so it’s mainly limited to investors for now.
  • Currently, there is only one wallet for it.

How To Buy ADA Cardano

Daedalus Wallet

Probably the most limiting factor when it comes to buying and holding ADA Cardano is that there is only one wallet, the Daedalus Wallet, that can be used with it. If you want to buy ADA you must have the Daedalus Wallet.

A few reasons for this are that ADA isn’t as well-known and popular as Litecoin or XRP, and it’s not on the Ethereum blockchain like ETH or KICK. Still, it is high time that more than one wallet be available!

Never fear, though, Daedalus is free, and it’s simple to download and work with.

Besides being able to store and use ADA, the Daedalus Wallet has other features available, with even more in the near future, including support of Bitcoin and Ethereum Classic.

Where To Buy Cardano ADA

You can buy ADA at Coinmama.com

Landing Page: https://go.coinmama.com/visit/?bta=59283&nci=5371

You can buy it with fiat currency or trade with Bitcoin. Enjoy your Cardano ADA!

 

Well, what do you think? A worthy investment or a waste of time? Let us know your thoughts and questions in the comments below! Thank you for reading!

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4 Thoughts to “How To Buy ADA Cardano – Get Your Cryptocurrency For Pennies”

  1. Hi
    Loved reading your article.

    1. Thank you for reading it. 🙂

  2. Lisa

    I love the idea of cryptocurrency, but I’ve always been wary because it seems so complicated. I really appreciate your article using everyday language to make the whole thing seem less complicated!

    I’m now liking the idea of ADA Cardano as an introduction to Cryptocurrency investment, the pro list outweighs the cons and the affordability for a small investment is easily achievable.

    Have you got any advice specific to ADA Cardano for nervous newbies? And what kind of fees are charged on currency conversion or purchase of ADA Cardano by Coinmama?

    1. Hello Lisa! Thank you for reading and commenting on my article. My advice I offer to all newbies with any crypto is just to never invest more than you can afford to lose; of course, that goes for any currency investment. I’m only willing to put in $10 or $20 to an altcoin, but Cardano looks exciting to me. As for Coinmama’s fees, this is from their support site.
      https://support.coinmama.com/hc/en-us/articles/213577065-Fees-and-charges
      I hope it helps! Stop by any time. 🙂

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