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A few words on Cardano
Cardano is a decentralized blockchain launched in 2017 by Blockchain Development Output Hong Kong (IOHK). The platform runs on a Proof-of-Stake algorithm called Ouroboros, which determines how individual nodes reach consensus on the entire network. The algorithm is an important part of the infrastructure that supports ADA cryptocurrency and is considered to be as safe as Bitcoin.
The Cardano blockchain is designed to eliminate the mistakes of existing platforms, its goal is to represent blockchain’s best qualities. The main advantages of Cardano are:
- Regulatory oversight.
- Full confidentiality. Clients may not worry about their anonymity and that the information they provide. It cannot be disclosed to third parties.
- High levels of customer protection provided by special innovative algorithms.
- Cardano network does not only conduct fast transactions with digital assets. Any user can create and execute smart-contracts, which will protect their money transfers and other financial operations.
- Excellent translation speed, which helps to avoid commissions when a fast exchange is required.
Cardano (ADA) Wallets
Before you buy Cardano, you need to find a safe and reliable wallet. There are various types of wallets available, including web, mobile, and desktop wallets.
- Deadalus wallet is the default Cardano desktop wallet (Android, Windows and Mac compatible);
- Cardano can also be stored on accounts of crypto exchanges (Upbit, Kraken, Binance, Huobi, Bittrex, Gate.io, Indodax, HitBTC, OTCBTC, Mr. Exchange, Coinnest, CoinFalcon, LiteBit.eu, Abucoins, Cryptomate);
- Since March 2018, Cardano introduced Centra wallet.
Where to buy Cardano (ADA) cryptocurrency?
Cardano (ADA) is sold on a large number of cryptocurrency exchanges. You can buy it for BTC, ETH, and other altcoins. In some platforms, you can buy Cardano for fiat (USD, EUR).
How to buy ADA with Credit Card
Using a banking card, you can buy ADA directly, or purchase Tether or Bitcoin and change it to ADA. Cardano can be bought for USD on such exchanges like Kraken, Bittrex, EXMO, and HitBTC. ADA/USDT pair is quite popular, so you can easily buy Cardano on nearly any exchange with Tether.
Buy Cardano (ADA) with USD on Changelly
You can buy Cardano (ADA) on Changelly in a couple of clicks using your credit card. Visit this page, specify the amount of UDS or ADA you need, and proceed with the payment process. Enter your ADA wallet address, specify details and personal information, pay, and you’re done.
How to buy ADA with PayPal?
Currently, you cannot buy ADA using the PayPal method as most cryptocurrency exchanges do not accept PayPal payments. However, you can buy Bitcoin with PayPal on several exchanges (Local Bitcoins, Wirex, VirWOX, Paxful) and then exchange it to ADA cryptocurrency.
It is impossible to mine Cardano using graphic units (therefore, mining pools for it do not exist) since the coin works on the POS (Proof-of-Stake) algorithm. Such an algorithm allows you to mine Cardano without buying expensive equipment like ASICs.
To start POS mining, you need to do the following:
- Buy Cardano coins at any exchange.
- Download and configure the Daedalus cold wallet.
- Keep your wallet online (a computer with this wallet should always be turned on)
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.