ADA coin is new (newish) and still very much unknown, but what is the ADA coin? Who created ADA coins? What do we use them for and where? We explore why you should know about ADA coins.
ADA Coins Anyone?
There are so many coins and tokens in the cryptocurrency ecosystem that one would think it’s simply not worth investing. Are there really cryptocurrencies or tokens that will yield a genuine return on investment? {discounting speculation, which we will cover in a future article}
To further consider this you need to look at the main reasons a coin is successful. We also need to define the boundaries for measuring the success of a particular coin or token. Moreover, you need to be specific with regards to the type of investment you are evaluating a particular coin for. We usually measure it in short, medium and long-term investment.
So What Is The ADA Coin?
ADA coins are the native currency for the Cardano platform.
We have a great page dedicated to Cardano and a collection of posts about the actual ADA currency. We look at what the ADA token is all about, the role it plays in the Cardano ecosystem and most importantly how this can benefit the investor.
Where Can You BUY or SELL The ADA Coin?
Buying and selling ADA coins is easy. Create an account on a cryptocurrency exchange such as Binance or Bitstamp and exchange your FIAT money, Crypto coins or Stable Coins for ADA.
If I only had the $$$ to take advantage of these prices😏
#crypto #XRPcommunity – @JRoachmtmagent
How To Store Your Coins
The official and most trusted method for storing ADA coins is the Daedalus wallet by the Cardano team. This is a Cardano specific wallet which will also double up as a Cardano NFT Wallet. Furthermore the Daedalus Wallet also benefits from official support and follows the same rigorous peer review process as Cardano.
If you intend on investing medium or long-term (and even short-term depending on volume and trading strategies), then this is the preferred method used by experts.
What Will ADA Coin be worth?
This is the question everyone wants an answer to. Well, no one knows the answer to this but there are some educated guesses on social and print media. Estimates by some experts range from R8 – R60 per coin. Cardano is currently (22/8/2018) trading at around R2 per ADA coin.
Fantastic explanation of how the new Cardano upgrade will help us put a price tag on ADA tokens.
— Mati Greenspan (tweets ≠ financial advice) (@MatiGreenspan) August 15, 2018
Guessing Game
Any such estimates are just that, guesses. You should always see it in context and apply sound financial principles. Moreover, if you are not a seasoned investor, seek professional financial advice. That being said, the cryptocurrency industry is untested, unregulated. Consequently, the last decade proved in some cases, have yielded higher returns than any other form of investment in history.
What Makes A Coin Worth Considering For A High-Risk Investment Portfolio?
The reasons which make ADA coin more likely to make a return on investment from hoddling, are clear and it differentiates itself from other coins and tokens due to:
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- Sound academic foundations.
- Valid use cases, with credible solutions.
- Committed community.
ADA has smart contract capability that runs at a fraction of the cost of ETH. Cardano has Ethereum in its sights.
Token Value
The ADA token value may be volatile under certain conditions, but such conditions will, by and large, affect all coins equally. What makes ADA coin one of only a handful tokens worth considering for medium & long-term investment, is its academic principle. Consequently, it’s decentralised nature is “tamed” through scientific and academic best practice. This may result in slower implementation of upgrades or features. However, the quality of code and infrastructure should make up for this.
Ultimately we decide the value based on the supply and demand of a token. More functionality/utility will increase the demand. Speculators holding for a higher price will decrease the supply. So it all comes down to timing. In which case I would be quite happy to place a bet on at least an 8x increase over the next 36months.
Let us know what your thoughts ADA are in the comments section below.
