Cardano’s layer 2 solution Hydra is imminent as ADA on-chain activity explodes

  • Cardano crossed 2 million wallets, a key milestone for the Ethereum-killer.
  • Founder Charles Hoskinson states that layer-2 solution (Hydra) is necessary for growing traffic on the ADA network. 
  • Institutional investment flows in ADA hit $5 million over the past week, signaling a rise in demand for Cardano. 

Cardano’s native token ADA’s utility is likely to increase with a spike in daily active wallet users and transactions in the network. Charles Hoskinson stresses the importance of “Hydra,” Cardano’s layer-2 solution. 

Cardano prepares for scaling solution Hydra 

Cardano’s Alonzo upgrade added smart contracts capability to the Ethereum-killer network. Developers behind Cardano anticipated a spike in traffic on the network since the launch of smart contracts. 

In September 2021, Cardano discussed adding a layer-2 solution, Hydra, to boost the ADA network’s scalability. High transaction fees have plagued the Ethereum network for a long time, driving developers and users to Cardano. Hydra is expected to regulate the fee rate on the Cardano blockchain and tackle the menace of high fees. 

Charles Hoskinson, the Founder of Cardano, explains that it has become a high priority to pour more resources into Hydra. Once Cardano’s DeFi community directs higher volume transactions to the network, Hoskinson says, 

Cardano is going to get hammered by an enormous amount of traffic. Hydra is a necessity for that.

Proponents argue that Cardano is living up to its reputation as an Ethereum-killer. The altcoin announced earlier today that it had crossed 2 million wallets, a key milestone. 

Number of Cardano wallets

The increasing capital inflow from institutions fuels the rise in demand for Cardano. In the last week of October 2021, Cardano funds noted an inflow of $5 million from institutional investors. 

72% of Cardano’s circulating supply is staked. The percentage of supply staked has been on the rise since the successful implementation of the Alonzo hard fork. An increase in staked supply reduces the circulation of ADA tokens, fueling the Cardano price rally. 

Source: FXStreet

Cardano builds strong fundamentals to flip Ethereum

  • Cardano recently launched new certification levels for smart contracts on its blockchain network.
  • IOHK reveals that Cardano uses 0.01% of the energy of Bitcoin, making it one of the greenest Blockchains.
  • Cardano’s had over 3254 GitHub commits this week, higher than most other cryptocurrencies, implying developer commitment to the project.
  • Unlike Bitcoin, Ethereum and most other altcoins Cardano is directly working with the government to boost ADA acceptance and utility.

At a time when financial regulatory agencies worldwide have increased their scrutiny of cryptocurrencies and stablecoins, Cardano is forming partnerships with governments. Proponents expect Cardano to reclaim its spot in top three cryptocurrencies by market capitalization soon. 

Cardano partners with governments, attempts to make blockchain applications mainstream

With the launch of smart contracts on the Cardano blockchain, new projects and developers have joined the ecosystem. At the same time, Cardano Foundation has formed partnerships with governments worldwide, working on blockchain solutions to solve real-world problems. 

Cardano is popularly known as “The Green Blockchain,” as it consumes 0.01% of the energy of Bitcoin. This makes ADA blockchain one of the greenest in the crypto ecosystem. Bitcoin and Ethereum have been subjected to severe criticism on their energy inefficiency. Cardano is ahead of its competitors from the onset, with a cleaner and faster blockchain network. 

The launch of Ethereum 2.0 (in early 2022) is likely to intensify the competition for the fastest blockchain network using the proof-of-stake (PoS) consensus mechanism. Until then, Cardano tops the list of fast and efficient PoS blockchain networks. 

Input Output Hong Kong (IOHK), the blockchain firm behind Cardano revealed that older cryptocurrencies like Bitcoin and Ethereum are currently using more energy than Argentina. IOHK stated that Cardano uses less than 1% of the energy that the Bitcoin blockchain consumes. 

Further updates like high rate of development (identified by Github commits per week) and launch of new certification levels prepare the ADA blockchain to reclaim its spot in top three cryptocurrencies by market capitalization. 

While most cryptocurrencies are currently under regulatory scrutiny, Cardano has formed partnerships with the Government of Ethiopia and Burundi to work on the country’s digital transformation. 

Charles Hoskinson, founder of Cardano shared updates of the partnership on his Twitter timeline. Hoskinson tweeted:

Tether, Mirror Protocol, XRP and other cryptocurrencies recently made headlines for being under regulatory scrutiny alongside top crypto firms and exchanges. Cardano’s strategic roadmap of a greener blockchain with government partnerships positions ADA in the top three cryptocurrencies of the future. 

Widely known as the Ethereum-killer, ADA has offered the solutions that traders and developers are waiting for (in the ETH network) over five years now. 

FXStreet analysts have evaluated the Cardano price trend and predicted that the altcoin is a coin toss despite bullishness in the cryptocurrency market. 

Source: FXStreet

New Ethereum-to-Cardano Bridge Will Provide NFT Creators Eco-friendly Options

Bondly has announced a new functionality on the Cardano blockchain that is aimed at creators. Energy consumption has been a major problem on the Ethereum network, especially given the increased usage of the blockchain over the past couple of months. Developers behind the project have been working towards moving the network to proof of stake but that is still another year away.

In the meantime, Ethereum blockchain still uses a proof of work mechanism which requires a large amount of energy for transactions to be confirmed on the network. Thus, Bondly has introduced a new solution for NFT creators who may be looking for more sustainable and eco-friendly options for their creations. But at the same time, do not want to lose the NFTs they have already minted on the Ethereum blockchain.

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Bridging Two Worlds

In its announcement, Bondly says its official Ethereum to Cardano bridge will enable creators to choose a more eco-friendly blockchain for their NFTs. Creators are able to move their NFT creations from the Ethereum blockchain to the Cardano blockchain using this bridge.

In terms of energy-efficiently, the Cardano blockchain is four million times more efficient than Bitcoin. Ethereum is said to use the energy equivalent of Columbia, while Cardano’s energy usage comes out to be equivalent to that of a family home. Thereby providing a greener and eco-friendly network for creators who are worried about the environmental impact of blockchain use.

Bondly announced that through this partnership with IOG, it will be able to provide NFT creators a way to simply transfer NFTs minted on the Ethereum blockchain over to Cardano without the risk of losing a transaction or paying high fees for transfers.

Cheaper On Cardano

In addition to having their work on an eco-friendly blockchain, creators do not have to worry about the high fees that the Ethereum network has come to be known for. With the majority of NFT minting happening on Ethereum, the network fees have shot through the roof, leaving smaller creators who cannot afford these high fees out to dry. This is, however, not the case with Cardano.

Cardano price chart on TradingView.com
ADA price struggles at $2.13 | Source: ADAUSD on TradingView.com

The network boasts of low fees for any transaction carried out on the blockchain. Additionally, the network also offers NFT creators price predictability and stable transaction costs, which will eliminate increasingly high fees and the fear of lost transactions due to not having enough gas fees to cover a transaction.

The bridge is set to launch in 2022 and in celebration of its launch, Bondly will release a special series of eco-friendly NFT on the network. Harry Liu, CEO of Bondly, said; “The creation of a cross-chain NFT bridge between Ethereum and Cardano marks a pivotal moment in the transition from legacy blockchain technology to one of the most hotly anticipated ‘third generation’ networks. As one of the pioneers of the NFT movement, we continue to play a key role in building the infrastructure that will herald the next phase of NFT evolution.”

Liu is not the only one excited about the bridge. Founder of Cardano, Charles Hoskinson, expressed support for the project. “We built Cardano with energy efficiency in mind, which is why this partnership with Bondly is so crucial,” said Hoskinson. “We believe that blockchain will only achieve mass adoption when end users have a seamless experience, regardless of which blockchain they are using, which is what bridges like this will achieve.”

The founder has always believed that interoperability will be the future of the blockchain industry and this stance is reiterated with the new partnership with Bondly.

Source: NewsBTC

Cardano Gears Up For Babbage Era After Successful Alonzo Deployment

Cardano’s Alonzo Hard Fork Combinator has been one of the most important upgrades that have occurred on the Cardano network. Deployed just over a month ago, the upgrade brings smart contracts and Decentralized Finance (DeFi) services to the Cardano ecosystem.

Decentralized Applications (DApps) On Cardano’s Blockchain

The Alonzo Hard Fork Combinator allows developers to develop and deploy dApps on the Cardano blockchain. This has provided a significant boost to Cardano’s network, as the protocol continues its work in collaboration with developers, helping them deploy their decentralized applications on the network.

With the successful deployment of the Alonzo Hard Fork Combinator, developers are preparing to focus on the next phase of Cardano, the Babbage Era.

What’s Next For Cardano

Software engineer at Input Output, Kevin Hammond, gave a glimpse of what Cardano was working on next, sharing an update revealing that IOHK was ready to move towards the Babbage Era, the next phase of Cardano.

The Babbage Era is named after Charles Babbage, a mathematician credited to be the “father of the computer.” The Babbage Era will essentially iron out any issues that may be left after the Alonzo upgrade.

Proposed Performance Improvements

Several performance improvements are planned to be rolled out on the blockchain during the Babbage Era. According to Hammond, these improvements have been in the pipeline for a considerable time but have not officially launched.

Issues that will be addressed are improving the sinking speed, along with several performance issues brought into focus by developers and operators since the Alonzo Hard Fork Combinator became operational. The improvements are considered important as they will ensure that users on the network have a relatively smooth experience while working on Cardano.

Language Upgrade

Plutus, the language used on the Cardano network, is also getting a significant upgrade. The developer reveals plans to improve the language by introducing a new version of Plutus on the blockchain. Plutus script-specific aspects of Cardano’s network will also be improved, which will allow faster and larger transaction volumes in each block.

The new version will also include several additional features, which Cardano’s user base has been demanding for quite some time.

Further Decentralization

There are also plans afoot to decentralize the Cardano blockchain further. Cardano is looking to give its community more control over what happens on the network and which direction the network takes.

Source: CryptoDaily.co.uk

IOHK Inks Powerhouse Partnership To Allow NFT Creators Transit Easily From Ethereum To Cardano

On Thursday, InputOutput (IO Global) the official Cardano software developer announced that it was working with Bondly in creating an official cross-chain “bridge” that would bring NFTs from Ethereum to Cardano.

Bondly is a decentralized e-commerce platform that seeks to develop new technologies to increase the security of NFTs and cryptocurrencies. Furthermore, it aims at making the utilization of NFTs and cryptocurrencies more decentralized and efficient.

According to the announcement, the move which is their first partnership project will enable NFT creators to easily transfer their digital art pieces from the “energy-intensive” and expensive Ethereum network to Cardano with the first bridge expected to roll out in early 2022.

Ethereum ERC-721 Unfriendly for NFT creators

Given that Ethereum and Bitcoin are still using the Proof of Work mechanisms on their networks, NFT creators are often faced with the persistent problem of energy inefficiencies and high transaction costs. Currently, creators shell around $15 in transaction cost on Ethereum compared to Cardano’s $0.4. This means that Ethereum is 37.5% more expensive than Cardano.

Ethereum and Bitcoin also use a huge amount of energy as much as Oman and Columbia combined according to recent data from Digiconomist which poses a serious challenge to the NFT ecosystem.

Cardano which uses a more eco-friendly proof of stake mechanism to run its network operations seeks to change this status by offering efficient price predictability and stability for transaction costs eliminating the risks of loss and high costs associated with using Ethereum to mint and transfer NFTs.

In confirming the partnership, Cardano’s co-founder Charles Hoskinson said,

“We built Cardano with energy efficiency in mind, which is why this partnership with Bondly is so crucial, as it will allow NFT creators access to a leading solution for token creation which doesn’t compromise on environmental credentials.”

Harry Liu, C.E.O of Bondly also lauded the union noting that the creation of a cross-chain NFT bridge between Ethereum and Cardano would be a great milestone in transitioning “from legacy blockchain projects to one of the most hotly anticipated third-generation networks”.

Bondly also announced that it would be minting a special collection of eco-friendly NFTs in honor of Cardano’s smart contracts launch which enables developers to build applications that will utilize the “capabilities of the world’s most advanced green blockchain, as well as NFTs marking the launch of the cross-chain bridge”.

Source: ZCrypto

Cardano Group to acquire sustainable investment manager ACTIAM

The pure play managerPensions advisory firm Cardano Group has announced plans to acquire pure play sustainable investment management firm Actiam NV from Dutch insurer and reinsurer Athora Netherlands.

The acquisition, announced today (21 October), is expected to complete in the first quarter of next year, subject to regulatory approvals.

Terms of the deal were not disclosed. The acquisition increases Cardano’s assets under management to £50 billion ($68.7 billion) and its headcount to 500 employees.

ACTIAM will add more than €21.5 billion ($24.9 billion) in assets under management and broaden Cardano’s ESG advisory capabilities as well as its active and passive equity and fixed-income offerings, the firm said in a news release Thursday.

As part of the transaction, Cardano will enter into a long-term strategic partnership to manage Athora’s £13 billion in assets for 10 years.

Cardano and ACTIAM will remain independent legal entities but their operations will be integrated.

When the acquisition closes, Harold Naus, currently CEO for Cardano Risk Management and chief financial risk officer of Cardano Group, will become CEO of ACTIAM, reporting to Cardano Group CEO Mickey De Lathauwer.

“As we start to work with our new colleagues, we look forward to introducing our pension fund and investment clients in the Netherlands and the U.K. to our broadened advisory and asset management proposition with ESG at its heart,”Mr. De Lathauwer said in the release.

Jan de Pooter, CEO of Athora Netherlands, added in the release: “We are pleased to have agreed on a 10-year partnership. In Cardano we see the ideal new owner for ACTIAM as we can leverage on the combined knowledge in the field of pensions, it will enhance the service and product offering to our customers and it is an excellent new home for the employees of ACTIAM.”

Cardano has more than £300 billion in assets under advisement.

$ADA Burning mechanism might come to Cardano despite resistance

  • Cardano is now looking into a token burning mechanism, proof of burn (PoB) from Iagon tech company.
  • Initially, founder Charles Hoskinson adamantly rejected the proposal, but now seems to have given in to pressure to cut down the 45B ADA token supply.

The Cardano (ADA) blockchain has been considering introducing a proof-of-burn (PoB) mechanism to its ecosystem. Proposed by Cardano founder Charles Hoskinson, the PoB will be brought forth by the Iagon decentralized cloud services platform.

Invented by Iain Stewart in 2012, PoB is an alternative consensus algorithm with several applications. In proof of work (PoW) blockchains, burning cuts down energy consumption by reducing the amount of mining energy required. Additionally, the mechanism allows miners to “burn” virtual currencies, in exchange for mining privileges or the blockchain’s native currency, in this case, ADA. And as Iagon notes in its blog, the burning mechanism “may be used as a proof of commitment in blockchain protocols.”

To burn coins, miners need to send them to a verifiably un-spendable address, also known as a “black hole” address. Tokens in this address can never be retrieved. Resultantly, ADA tokens become scarce (deflationary pressure), boosting their value. Other token-burning techniques, such as Ethereum’s EIP-1559, burn a portion of the transaction fees instead.

Cardano Proof of Burn solution for deflationary pressure

Notably, the PoB solution has come in response to criticism directed to Cardano for its huge supply of ADA tokens. According to our data, the network has its token supply capped at 45 billion, with over 32 billion tokens currently in circulation.

Some members of its community are also concerned about growing competition from rival networks Ethereum and Binance Smart Chain (BSC). The former recently introduced a deflationary mechanism through the EIP-1559. Similarly, Binance Coin recently held its 17th token burning, removing 1 million BNB tokens, or $639 from the supply. Hoskinson noted after the observations were made that;

It’s time for the Cardano community to deal with hostile proposals,” 

Lagon’s protocol came up as the best choice for Cardano due to its censorship-proof abilities applied on all user wallets. The platform’s solution practically zeroes out the possibility of miners opposing ADA token burning.

Cardano’s PoB application was meant to be launched after the completion of the Alonzo series, which took place on Sept. 12. Hoskinson noted that the new application would engage new developers of the Cardano ecosystem and be ideal training for them. The tech entrepreneur even offered the best developer a reward in the form of an NFT.

Earlier on, Hoskinson was strongly in opposition to a token burning feature for the Cardano network. As CNF reported, Hoskinson said token burning was synonymous with “grabbing someone’s wife,” or siphoning gas out of other people’s cars for your own. Indignant with the suggestion, he said it would only benefit those looking to make a little extra cash then move on to something else more hyped.

Source: CryptoNewsFlash

Charles Hoskinson Addresses PAB Upgrade FUD Rumors

CEO of Input Output Global and founder of the Cardano blockchain platform, Charles Hoskinson, went on the air from Africa to give the ADA community a brief update on Cardano’s current “pan-African” tour. He also addressed the big flow of FUD he has recently seen on Twitter about Cardano’s coming integration of PAB—Plutus Application Backend, which is due in November.

Update from Cardano African tour

Hoskinson shared with the community how Cardano’s African tour has been going. He mentioned multiple meetings, including dinner with the CEO of the ShopRite retail giant and the company’s innovation team.

Over the weekend, on Saturday, Oct. 16, the Cardano chief gave a speech at the Cape Town Innovation Hub as part of the CiTi event (“Cape Innovations and Tech Initiative”)—a “fireside chat” with Hoskinson.

He jokingly refers to this long trip around Africa as a “pan-African tour.” It started in Cape Town in South Africa and will continue heading north to other nearby regions: Zanzibar, Burundi, Kenya, Ethiopia and ending up in Egypt.

Hoskinson shared that there are three heads of state in the queue to meet, as well as “tons of other meetings” scheduled.

Hoskinson addresses more FUD about scalability and TPS on Cardano

Mr. Hoskinson also addressed the extremely large amount of FUD (fear, uncertainty, doubt) that he bumped into on Twitter in the past few days regarding the upcoming small upgrade on Cardano due in late October but most likely to appear in early November: PAB.

PAB stands for Plutus Application Backend. It is one of the tools offered by the platform after the Alonzo hardfork implemented in September. It helps developers building on Cardano to use smart contracts.

According to a Cardano explanation, PAB is “an off-chain, backend service for managing and handling the requirements of the application instance throughout its lifecycle.”

Hoskinson stated that he has bumped into lots of “usual FUD” regarding Cardano’s ecosystem, mentioning in particular scalability and TPS issues. He said that the platform continues to evolve and devs are learning as they go (and they have a lot to learn with Cardano). However, overall, the Cardano ecosystem is strong and secure at the moment, and they have never seen so much demand.

Hoskinson added that there are a lot of commercial products being prepared on Cardano too. He reminded the community and those spreading FUD that a lot of new technologies will be rolled out on this blockchain in the next three to nine months.

Source: UToday

Watch Out For Cardano (ADA) in 2022!

Cardano seems to be unstoppable surpassing $2.00, and the outlook for 2022 looks optimistic for ADA holders.

The overall price action in the cryptocurrency market during 2021 has been an extension of the bull-run witnessed over the last months of 2020. Cardano (ADA) has since picked up a strong bullish momentum and managed to steal the show among the altcoins sphere, setting its tone as a real competitor among the majors.

Nowadays, according to Coinmarketcap, ADA exchanges hands at $2.22, with a market capitalization of around $72.90 billion, standing in fourth place in the ranking of the largest cryptos by market cap.

Additionally, the project founded by Charles Hoskinson has seen some improvements on the blockchain that bolstered the confidence among the virtual currency during the first few months of the year. Most recently, in September, Cardano deployed its Alonzo hard fork.

Now, after cracking the $2.00 threshold and consolidating its yearly gains, crypto traders are eyeing next year’s forecasts. AI-based forecast models like WalletInvestors are predicting ADA to reach $4.587 as of press time as a yearly projection, while its five-year forecast says that Cardano’s coin could skyrocket to $14.05.

So, what will be the future of the price after the ongoing consolidation around $2.00 in 2022?

ADA Technical Analysis for 2022

As the year-end period looms and Bitcoin (BTC) is finally breaking through the price of $60,000, which is the latest critical hurdle ahead of its all-time highs, ADA has been trapped in some sort of rangebound that has not been resolved since the lows seen during September 21 at $1.90.

As a contraction has been developed across the board, the 200-period simple moving average (SMA) at the H4 chart is capping gains and limiting any further advance of ADA above $2.40.

Cardano ADA Price Analysis

That said, bulls need to breach such an area in order to allow a golden crossover of the 50-period simple moving average with the 200 SMA and thus bolstering the bullish case. A golden crossover in the H4 chart is significant in the crypto markets, given that it is a solid signal that could unleash a bullish force that can strengthen it further. If that is the case, ADA could prepare the ground for a bullish 2022 that could take it to test levels of around $5.00.

In fact, another forecast model, LongForecast, put the price of ADA at Q4 of 2022 at around $3.24, which is the average price that Cardano’s coin could aim for in a possible bull-run.

Source: FinanceMagnates

Best Places to Buy Cardano (ADA)

Cardano is one of the hottest cryptocurrencies on the market, so where’s the best place to buy it?

You’ve been following the cryptocurrency boom and want to get involved. After doing a bit of research, you’ve decided Cardano (ADA) is the right coin for you.

It’s a good choice. The coin is more energy-efficient than Bitcoin, offers lightning-fast transactions, has cheap fees, and can be staked for a passive income.

The next question, therefore, is where can you buy Cardano? Keep reading to discover how to purchase ADA and start your investing journey.

1. Binance

Screenshot of a page on Binance

Binance is the most well-known cryptocurrency exchange in the world. Founded by Changpeng Zhao in 2017, it now has tens of millions of users around the world.

The main Binance website is available almost everywhere in the world, with the notable exception of the US.

If you live in the US, you need to use Binance’s dedicated portal: Binance.US. ADA is available to buy on Binance.US, but the service is lacking some of the features of the main app—including fewer coins available to buy and no margin trading.

Other features on Binance include staking (the ability to earn interest on the crypto you own), pooled mining access, and access to the Binance Launchpool for newly released coins.

The standard fee to buy Cardano on both Binance platforms is 0.1%. Both Binance platforms allow you to withdraw your ADA and keep it in a hardware wallet.

2. Coinbase

Screenshot of a page on Coinbase

Coinbase is perhaps the most beginner-friendly cryptocurrency exchange. Unlike Binance, it does not focus on trading—so you won’t be overwhelmed with price charts and other data that newbies cannot understand.

Instead, you just need to enter your card details, pick the coin you want, and buy it.

Aside from the ability to buy Cardano, Coinbase has some other noteworthy features. For example, you can apply for a Coinbase credit card that will pay you cashback in crypto when you spend on it. Moreover, you can borrow money using your crypto as collateral, and you can even get paid in crypto for taking Coinbase’s educational courses.

The biggest downside of Coinbase is the fees. You can expect to pay 4% when making an ADA purchase using your credit or debit card, while the trading fee when swapping between cryptocurrencies is around 0.5%.

A second downside is the severely limited number of coins available. While the list has grown substantially in the last couple of years (there are now more than 50 available), the number still lags way behind dedicated crypto exchanges. As your commitment to crypto grows, and you want to diversify your assets further, you might find that you need to migrate to a more substantial platform.

3. Gemini

Screenshot of a page on Gemini

Owned and operated by Tyler and Cameron Winklevoss (the twins who famously sparred with Mark Zuckerberg over the legalities concerning the creation of Facebook), the Gemini platform offers one of the best ways to buy Cardano for anyone based in the US.

The service appeals to both beginners and experienced crypto users thanks to its option to either use a simple click-to-buy approach or use a full-featured trading portal.

Like Coinbase, Gemini offers a credit card that you can use to get money back. At the time of writing, you can get 3% cashback on all purchases and can earn rewards in Bitcoin (or any other cryptocurrency) via the Gemini web app.

Gemini also offers a service called Gemini Pay. It works in much the same way as Google Pay and Apple pay, allowing you to spend your crypto easily in regular retail stores around the country. More than 30,000 shops in the US currently support the feature.

Fees on Gemini include a 0.5% “convenience fee” and up to 1.49% for transactions.

4. Kraken

Screenshot of a page on Kraken

Kraken is a well-established crypto exchange that recently passed its 10th birthday. It is also considered to be one of the most secure exchanges and is one of only two with a perfect rating on the independent Crypto Exchange Ranks (CER) review site (the other being a relative minnow, Whitebit).

Using Kraken to buy Cardano is a blessing and curse, depending on which approach you use. For experts, the full-featured crypto exchange offers some of the most competitive fees you will find. For newcomers, however, who might only want to use the Instant Buy function, the costs are much higher.

You can expect to pay around 2% when using Instant Buy, meaning that if you are in the US, the 0.5% fee on Binance.US is a much more attractive way to buy ADA.

Like Binance, Kraken restricts access to some features to anyone in the US. Those restrictions include staking and margin trading (unless you have a high-value account).

5. Bitfinex

Screenshot of a page on Bitfinex

If you are not based in the US and are already knowledgeable about crypto, Bitfinex is a great place to purchase ADA. Sadly, no one in the US can use the app.

You need the existing knowledge because Bitfinex does not support purchases with your credit or debit card. Instead, you have to transfer existing crypto onto the platform from another service to be able to start using it. As such, it is not suitable for complete beginners.

However, if you already have crypto that you can transfer over, you can enjoy access to hundreds of coins (including many small-cap coins that are not available on Binance). You can also benefit from margin trading, staking, lending, and borrowing.

Fees on Bitfinex start at 0.1% for transactions of all sizes. If you hold the LEO coin, you can enjoy a 25% discount.

Plenty of Places to Buy Cardano

So, there you have it—we’ve now revealed our five favorite places to buy Cardano. While features will vary depending on where you live, the choices in this article should cover you in most corners of the world.

Cryptocurrency’s boom isn’t going away anytime soon, and Cardano’s energy-efficient approach means that its fanbase probably won’t disappear either. Give each of these apps a try to see which works best for you.

Source: MakeUseOf