The ninth-biggest coin by market capitalization added almost 14% to its value during early Asian trading hours before a slight drop.
Demand from retail traders was the driving factor for the growth. Live data showed a 186% increase in the number of wallets holding Cardano’s token ADA for more than a month, CoinDesk reported.
This brief guide has everything you need to know about the Cardano network and coin, including whether and where to buy Cardano if you choose.
Top places to buy Cardano now
As ADA is such a new asset, it’s yet to be listed on major exchanges. You can still purchase ADA using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy ADA right now, follow these steps:
1. Buy BNB on a regulated exchange or broker, like Binance ›
We suggest Binance because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your BNB to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the Pancakeswap DEX
Head to Pancakeswap, and ‘connect’ your wallet to it.
4. You can now swap your BNB for ADA
Now that you’re connected, you’ll be able to swap for 100s of coins including ADA.
What is Cardano?
Cardano is one of the biggest blockchains to apply a proof-of-stake consensus mechanism successfully, which is less energy intensive than Bitcoin’s proof-of-work algorithm.
Cardano claims all of the technology developed undergoes peer review, which means that all ideas can be challenged before they are accepted. This process ensures the Cardano blockchain is stable and durable, increasing the likelihood of anticipating potential issues.
As open-source code software, Cardano’s functionality runs on the premise of confidential transactions and crystal-clear transparency throughout the network.
The end users have the power with zero-disclosure evidence, facilitating the mathematical consistency of the entire transaction procedure.
Should I buy Cardano today?
Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never make any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose.
Cardano price prediction
Digital Coin Price predicts ADA will pass $2 by the end of 2025. It will trade for at least $1.65 that year.
The Reddit community forecasts ADA can go up to $1.80 by the end of this year, but it will reverse gains thereafter.
Cardano on social media
Deal with it ETH bois 🤣 pic.twitter.com/6NtNZtF7gi
— Cardanian (@Crypto_Goaat) May 4, 2022