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Cryptocurrency Guide: Why You Should Buy Cardano Today

Cryptocurrency Guide: Why You Should Buy Cardano Today

In recent years, all cryptocurrencies operating in the market have become increasingly popular in the financial community. There have been substantial developments in the cryptocurrency world, and the increase or drop in the value of coins can be felt up to this moment. While this price decrease might be a temporary phenomenon, several investors are having a difficult time deciding on where to invest their money. This is where Cardano becomes an attractive investment vehicle in the cryptocurrency world. 

If you’re hearing about this crypto for the first time, keep reading to explore this option further and learn why you should buy one today. 

Cardano: What Is It?

Primarily, Cardano refers to a decentralized blockchain-based system intended to run financial applications being used by more people and organizations across the globe. Founded by one of the founders of Ethereum, Charles Hoskinson, it’s powered by the ADA cryptocurrency, which can be used for sending and receiving digital funds from all over the world. In other words, one of Cardano’s primary objectives is to make direct, fast, and secure money transfers possible through the use of cryptography. 

Moreover, Cardano isn’t just a crypto platform. It has been an attractive choice for several companies and governments because it’s considered a third-generation cryptocurrency that is capable of handling smart contracts and improving on the shortcomings of Ethereum and Bitcoin. 

Cardano: Reasons To Buy It Today

Now that you have an idea of what Cardano is, it’s time to tackle the essential reasons why investors like you should get hold of this cryptocurrency early on. Despite the popularity and widespread adoption of some digital currencies such as Bitcoin, Ethereum, and many more, Cardano is also one of the best crypto options to try for your investment undertakings. 

Here’s why you should buy Cardano today: 

It’s A Long-Term Investment 

As mentioned, Cardano is a third-generation cryptocurrency available in the market nowadays. Because of this, it’s bound to be fully developed as a digital currency that can be used by a variety of users. Given its early stages of development, its founders continuously conduct a series of studies and research to come up with more features for the crypto platform. 

As such, the price value of Cardano will probably increase, making it an excellent choice for investments. With never-ending ways to improve Cardano as a cryptocurrency, anyone who is looking to purchase it today can expect long-term investment returns in the years to come. 

Smart Contracts Support Its Transactions

Generally, a smart contract refers to a computer protocol that enables the performance and completion of credible transactions without the intervention of third parties. With smart contracts, you can exchange funds or anything that has value to another person in a safe, transparent, and trouble-free manner. 

Thankfully, Cardano cryptocurrency is using this computer protocol. As a matter of fact, its transactional processes are supported by smart contracts, which can be an appealing feature of this digital currency. By using smart contracts, you can ensure a more secure and seamless way of doing financial transactions than that of other popular cryptocurrencies in the market. 

Thus, if you think the usage of smart contracts can be excellent for your investments, don’t hesitate to purchase Cardano today. For more information, this guide shows you how to buy Cardano easily and quickly. 

The Technology Is Flexible, Secure, Scalable, And Sustainable

Unlike other cryptocurrencies, Cardano has been developed from a scientific philosophy, thereby making its technology flexible, secure, and scalable for usage by thousands to millions of users and investors. A global team of engineers and academicians pays attention to its design and development. They have exerted considerable care and thought to ensure a high-assurance implementation of Cardano transactions. 

In addition to its flexibility and scalability, Cardano can be a good crypto option because of its sustainability. It’s sustainable because it can be updated with new features even after its introduction to the market. 

It Comes With Less Investment Costs

Despite being a new digital currency, Cardano has a brighter future in the investment world. Aside from making a name for itself in the market, its supply capitalization stands at 45 million, which means that it can be used as a long-term investment vehicle. 

Also, since the price of Cardano isn’t currently at its peak, investing in it can be a great idea as it will cost less and offer good results in the future. And with the exciting and continuous rise of the cryptocurrency market since 2017, a Cardano investment can be the way to go. 

Final Thoughts

Given the variety of cryptocurrencies in the financial market these days, choosing the right one for your investment needs can be very difficult. Therefore, with all the information presented above, there is no doubt that Cardano has a bright future in the financial community. And combining the best properties of all cryptocurrencies as one of its features, there’s no reason why you should not buy Cardano today. 

Disclaimer:

CryptoDaily aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe.

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SoftBank CEO believes bitcoin will be useful in the future but “not any time soon“

SoftBank CEO believes bitcoin will be useful in the future but “not any time soon“

Quick take

1 minute read

  • Crypto adoption is on the rise recently since the leading cryptocurrency of bitcoin has been doing the rounds when it comes to bullish momentum. 
  • But not everyone yet understands fully what bitcoin is or how it works. 

Crypto adoption is on the rise recently since the leading cryptocurrency of bitcoin has been doing the rounds when it comes to bullish momentum. But not everyone yet understands fully what bitcoin is or how it works. 

There are numerous videos and articles out there that explain it but some people will leave those articles and videos more confused than when they started!

This is a sentiment that is being shown in numerous institutional investors such as Masayoshi Son, who is the billionaire technology entrepreneur and the Chief Executive Officer of SoftBank, a conglomerate institution based in Japan. He has said that he doesn’t “understand“ bitcoin as it rises significantly in its value.

Son has said that bitcoin investment is seemingly pulling his attention away from his actual own business according to a report from business insider last week on the 19th of November.

He added that he would spend five minutes every day watching the price of bitcoin go up and down highlighting that he was told by a friend to invest 1% of his personal assets into the coin. Quick maths shows that this is around $200 million.

When discussing the future of digital currency, the CEO said that digital currencies will be useful in the future and are great for development but it will take time and they won’t go anywhere any time soon.

“I think digital currency will be useful [...] But I don't know what digital currency, what structure, and so on.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes

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As it grows, how much ground will XRP cover next year?

As it grows, how much ground will XRP cover next year?

Quick take

1 minute read

  • Is 2021 XRP’s year?
  • How adoption will result in the success of the token.

Timothy Peterson, the well-known advocate for bitcoin and manager of global macro, believes that the San Francisco-based XRP token will have its best year in 2021 since 2017. 

As previously reported earlier this week, Peterson has recently said:

“I know it doesn’t look like much but this is $XRP lowest price forward. I think people will be surprised at $Ripple’s performance in 2021. It will probably have its best year since 2017 and maybe outperform #Bitcoin.”

As many people will already be aware, the success for ripple and its token will all depend on adoption by financial institutions. They have developed numerous new products such as rippleX in order to help facilitate a seamless transaction on the decentralised ecosystem for the network. But for the tokens targeted market, only 2% of financial institutions are actually willing to use it.

The Chief Technical Officer of Ripple, David Schwartz has previously said that there are numerous obstacles that prevent adoption for the token some of which include problems with regulation. That being said, well-known traders and investors at Galaxy trading have said that the asset is proven to be resilient.

“Although it is perhaps one of the most disliked projects, it has more than once shown its aggressive nature at a time when no one is expecting it.”

They see that the coin is capable of sparking by 10 times its current price as they say:

“We believe that this moment is very close and since catching the exact bottom is something very unpredictable, our advice to all who want to invest is to start buying at these “golden” levels of support where 10X can become a reality.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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The benefits of Ethereum 2.0 will come sooner rather than later according to Vitalik Buterin

The benefits of Ethereum 2.0 will come sooner rather than later according to Vitalik Buterin

Quick take

1 minute read

  • Vitalik Buterin, has recently answered a number of questions from the community as a part of a “ask me anything“ session on Reddit. 
  • The co-founder highlighted many different topics but specifically said that he expects some significant and noticeable network improvements to come for the project sooner rather than later. 

Vitalik Buterin, the co-founder of one of the biggest crypto projects in the industry known as Ethereum has recently answered a number of questions from the community as a part of a “ask me anything“ session on Reddit. The co-founder highlighted many different topics but specifically said that he expects some significant and noticeable network improvements to come for the project sooner rather than later. He further said:

“TLDR: merge happens faster, PoS happens faster, you get your juicy 100k TPS faster.”

Over the years, the network for Ethereum has experienced some significant rounds of high congestion. Three years ago in 2017, the popular CryptoKitties game slowed down the network massively but with the decentralised finance space growing rapidly, the network has been seriously clogged up.

As a result of this, it has led to high fees and longer than average confirmation times.

With Ethereum 2.0 very much just around the corner, there is a significant scaling upgrade solution that is supposedly going to speed up the network rapidly. This will increase the number of transactions per second and it will also move the blockchain to a different consensus algorithm known as a proof of stake. Phase 0 for the upgrade is set to occur on the 1st of December in two weeks!

The co-founder further went on to say that “all of these changes are designed to decrease the time until eth2 becomes useful to people.” 

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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The second richest man in Mexico invest 10% of his portfolio into BTC

The second richest man in Mexico invest 10% of his portfolio into BTC

Quick take

1 minute read

  • Ricardo Salinas Pliego is the second wealthiest businessman in Mexico and the 166th richest man in the world. 
  • It was recently announced last week that he has invested 10% of his liquid portfolio into the leading cryptocurrency, bitcoin. 

Ricardo Salinas Pliego is the second wealthiest businessman in Mexico and the 166th richest man in the world. It was recently announced last week that he has invested 10% of his liquid portfolio into the leading cryptocurrency, bitcoin. This came after he shared a video throwing huge amounts of paper money into the garbage. Not only does it show how worthless the government-issued cash is in today’s world but it also shows how important digital assets such as bitcoin could become.

Furthermore, the video indicates the hyperinflation and how bad it got in Venezuela.

Ricardo is worth more than $11 billion at the time of writing and is the only billionaire from Mexico who seems to have benefited from the coronavirus pandemic and the economic crisis that has come as a result.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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