Over time, it becomes more challenging to mine crypto assets because of expensive mining equipment, environmental damage, and the complexity of receiving one coin. As an alternative to popular networks running on the “Proof-of-Work” consensus protocol, the Cardano developers created a “Proof-of-Stake” blockchain with a native token ADA.
The Cardano network is fully decentralized. It provides fast transactions and solves the problem of interoperability and energy expenses inherent in the Proof-of-Work networks.
As of August 18, the ADA USDT pair is traded at $0,5412.
The main things to know about Cardano:
- Cardano is meant to be a platform for building decentralized applications.
- It has a multi-asset ledger.
- The network supports smart contracts (users can build smart contracts and NFTs on the Cardano blockchain).
- Staking is available.
Trading Cryptocurrency ADA
ADA can be staked. Staking is when you invest your coins in the exchange, and they are locked for some period. In fact, it is holding your assets on the exchange and receiving interest in return. Staking ADA can be carried out in staking pools. Taking part in a staking pool, users improve the Cardano blockchain and receive rewards in the form of ADA tokens. Users pick a pool for staking on their own. It is crucial to learn as much as possible about the staking pool’s service and read users’ reviews.
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ADA is a good asset for trading. Many credible crypto platforms have listed this coin. If you want to buy ADA, you can use the biggest European cryptocurrency exchange – WhiteBIT. The platform allows buying ADA currency with fiat money directly with your bank card. WhiteBIT offers various earning opportunities for registered users: futures, leverage, margin, spot trading, etc. Among WhiteBIT options, there is also Smart Staking. Look for the staking program that suits you the best – they differentiate by locking period and the number of coins locked.
