It's been a roller coaster month for both mainstream and alt cryptocurrencies alike with Bitcoin, LiteCoin, Ethereum and Stellar all going on a rollercoaster ride losing as much as half their values before bouncing back with a vengeance but one currency remains comparatively steady for now.
It's been a nail biting month for those with long positions on Bitcoin. This time last month we were seeing Bitcoin at $12,940/£9,239 before it began a steady slide with bad news, bad news and more bad news. Governments in South Korea and China talked about a ban. In Europe there was talk of regulation and taxation and even the US government began to add to the conversation, starting a two week fall that bottomed out at $6188/£4,418.
From there, more bullish investors smelt blood and, as talk in South Korea and elsewhere began to move away from dangerous and, frankly ludicrous, suggestions of a trading ban things have picked up and at the time of writing Bitcoin is closer to where it began at $11,474/£8,203.
Needless to say, some people have gained, and lost, and maybe gained again, some astonishing returns/losses in an incredibly short space of time, even for this market. It, perhaps, has speculators wondering, is there a coin that hasn't recovered in such spectacular fashion just yet, which I can make money from in the weeks and months ahead?
MoneyInvestorTips may have such a coin. Cardano is one of the top 10 cryptocurrencies by virtue of market cap. Its developers have specifically created it for enabling sustainable systems for cryptocurrencies. When the coin markets crashed in early February it bottomed out at $0.31 before making a modest rebound to $0.36. Since then it has remained remarkably steady - in the last week it has remained within $0.35 and $0.41 with the price being $0.37 at the time of writing. So is this the time to get on-board while this coin is still near bottom prices? Well, let's first take a look at what the coin does.
According to its creators "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". In other words, Cardano isn’t just a small randomly designed coin made to earn some profit for developers, investors, and holders – it is a coin with a purpose.
Cardano is, perhaps, similar to the Ethereum platform in its usage of smart contracts within Cardano system. ADA is hosted on the Cardano blockchain-based network, and the main purpose behind this token isn’t transferring all transactions to decentralized platforms but having banks being able to easily operate with their clients’ funds and accounts. Besides from creating a decentralized platform similar to Ethereum, Cardano creators have gone a step further in securing the system. So, instead of having a decentralized system that allows users to make completely anonymous and encrypted transactions at low fees and fast speed, they are looking for a way to regulate the blockchain system whilst also respecting the needs of users. The most likely application of this virtual coin is to be used in the developing world or any other place where banking systems have proved expensive to install.
Okay, so the coin has potential real-world value and a great team of Haskell developers behind it. What about potential price increases? Well, don't take our word for it - the price comparison website finder.com assembled a council of 13 crypto-experts, including financial technology entrepreneurs, Bitcoin investors and financial analysts. These experts made predictions for 13 different currencies (see chart below) and concluded that those looking for a good investment should go for Cardano which they predicted to shoot up by more than 1,600%.
Still not convinced? CoinCheckup, a crypto research and analysis platform has ranked ADA/Cardano as #1 in their analysis.
Great, how do I buy it?
The best way to buy is through Binance. But ADA can't be bought through cash. You need to buy another currency first. The best thing to do is buy some Bitcoin or Ethereum and send it to a wallet address at Binance. From there you can purchase some ADA with your BTC/ETH.