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How to trade Cardano

by Michael Selge 6 months ago in product review

Cardano differs from the competition in many ways. Unlike the competition, Cardano depends heavily on the academic sector. The platform’s design was built from the ground up utilizing evidence-based methods grounded in scientific philosophy, academic theory, and finalized via peer-reviewed research.

What is Cardano?

Cardano (ADA) is an open-source and decentralized blockchain project created to facilitate peer-to-peer transactions. It has a layered architecture that facilitates smart contracts, enabling a platform that is both adaptive and scalable without having to compromise security.

Cardano pros and cons

BENEFITS

  • Reputable team
  • Early days
  • Environmentally friendly
  • Ambitious scope of work
  • Peer-reviewed technology

RISKS

  • Not memeable
  • Scalable
  • Competitors in same space
  • Substance over hype
  • No first-mover advantage

Where to trade Cardano?

ADA has been trading on the exchanges for several years and has managed to garner the attention of traders and investors. Therefore, you can easily trade cardano on many trading platforms. Some of the best are presented below:

Binance – a distinctive feature of the exchange is that when exchanging cryptocurrencies, Binance fees are among the lowest. Customers are charged 0.1% for each transaction.

7b – your trusted intermediary in the world of cryptocurrencies, provides low and transparent commissions and more than 2000 cryptocurrencies for trading.

ZBG – a multifunctional and multi-currency exchange. Both the most popular currencies and little-known ones that are already of interest to the community are available.

How to trade Cardano using the 7b crypto broker app?

Undoubtedly, one of the best ways to trade ADA is to use the 7b crypto broker app. On 7b, you are able to buy or sell ADA at the best rates on the market without effort and with minimal time expenses. Just follow the instructions:

  1. Log in to your 7b account.
  2. Top up your balance.
  3. Choose a trading pair that suits you, for example, BTC/ADA.
  4. Fill in the transaction details.
  5. Confirm the transaction.

Cardano (ADA) Use Cases

Cardano’s developers have some hefty goals for the project. This advantageous team seeks to restore trust in global economic systems via the integration of Cardano technologies. Specifically, the platform introduces a more secure, transparent, and sustainable way to conduct business internationally.

Additionally, Cardano’s developers seek to provide the world’s unbanked population access to financial services. Sadly, estimates place the unbanked population at over 1.7 billion people currently. To this extent, Cardano has projects currently underway in Africa and other parts of the developing world.

The third goal for Cardano is to help stabilize the Dapp sector. The platform has a focus on security and sustainability specifically applied to decentralized applications, systems, and societies.

History of Cardano (ADA)

Cardano entered the market in September 2017. The project’s Founder’s Jeremy Wood and Charles Hoskinson both worked on the Ethereum project previously. However, the team split from Ethereum citing differences in goals.

Cardano garnered an immediate following in the crypto space due to its innovations in language and VM design. These additions were a direct response to issues encountered in the Ethereum network. The platform differentiated itself from the competition and began working with professors from universities around the world to incorporate peer-reviewed academic research into its design.

To raise funds an ICO was performe. The platform secured approximately $62 million from a global audience of investors. The funds went to the expansion of the ADA ecosystem.

On September 29, 2017, Cardano launched its first application on the mainnet. This marked the start of a successful journey for the team. The following year, Cardano secured multiple high-level partnerships across the academic and FinTech sectors.

In 2019, Huobi listed ADA. At one time Huobi was the largest exchange in China before moving due to regulatory pressure. Shortly after their addition, the world’s largest exchange, Binance added ADA to its platform. The addition helped drive ADA prices to new heights.

The ADA token gets its name from the 19th-century mathematician, Ada Lovelace. Lovelace was the world’s first computer programmer. Currently, there are 25,927,070,538 ADA in circulation. In total, Cardano will issue 45,000,000,000 ADA over its lifetime.

product review

Michael Selge

https://sevenb.io/

https://play.google.com/store/apps/details?id=io.sevenb.terminal

Read next: 3 Steps to Building a Sound Financial Future

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