Cardano is a third-generation, decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. Scalability, interoperability, and sustainability on PoW networks like Ethereum are limited by the infrastructure burden of growing costs, energy use, and slow transaction times.
“Ada” is Cardano’s digital currency and is named after Ada Lovelace, a 19th-century countess and English mathematician who is recognized as the first computer programmer.
2021 has shown that alternative investments such as cryptos can enhance returns of traditional stock portfolios. As digital currencies and especially the blockchain technology become more utilized.
Cardano (ADA) is a popular choice among crypto investors looking for projects with strong long-term potential. Unlike Bitcoin and Ethereum, Cardano doesn’t require much energy, making it an environmentally friendly crypto.
If you’re interested in buying Cardano, here’s everything you need to do.
Start by selecting a crypto exchange where you can buy Cardano. Because Cardano is one of the biggest coins, many of the best cryptocurrency exchanges list it. Here are some of the most popular crypto exchanges and investing platforms that have Cardano:
The two most important things to look for in a crypto exchange are security and reasonable fees, which all of these platforms offer. For beginners, Coinbase is a great choice because of how user-friendly it is. It doesn’t take long to learn how to trade crypto using Coinbase, and it also has plenty of educational content available.
You need an account at the exchange you chose to buy crypto. The registration process depends on the exchange, but most have a button that says “Get started,” “Register,” or “Sign up.”
Exchanges usually ask for the following information to open an account:
The exchange may require that you set up two-factor authentication. With this feature, you need to go through two layers of security when logging in to your account. For example, instead of just entering your password, you would also need to enter a code the exchange sent to your email address or phone number.
Even if two-factor authentication isn’t required, it’s worth setting up on your account for greater protection.
After you’ve created your account, it’s time to verify your identity. Cryptocurrency exchanges need to do this with their clients to confirm their identities and prevent illegal activities, such as money laundering.
Once again, the exact process depends on the exchange, but be ready to provide the following:
Check which payment methods the crypto exchange accepts and the fees for each one. These are the most common payment methods:
Most top exchanges let you deposit cash from a bank account free of charge. You still pay transaction fees when buying crypto, but it ends up being cheaper than other payment methods. With debit cards, credit cards, and PayPal, you pay more in fees on your crypto purchase. Just keep in mind that the transfer process from a bank account can take a few business days.
Once you have the funds in your exchange account, choose the amount of money you want to spend on Cardano. The exchange will show you a preview of the transaction with the fees and the amount of Cardano you’ll receive. If it looks correct, confirm the purchase.
After you do that, the Cardano you bought should be available in your account within seconds. The last thing to consider is moving your Cardano to a crypto wallet. Since crypto wallets provide more security, they’re a popular way for investors to protect their coins.
Stake (delegate) your ADA to GREEN_ADA Pool to start earning rewards. Rewards are paid automatically and directly to your digital wallet at the end of every epoch (every 5 days). First time delegating will take 3 epochs to receive rewards (16-20 days).
Delegating your stake to a staking pool NEVER requires you to send your ADA to a third party. Anyone asking you to send them your ADA so that they can “stake” it for you is attempting to scam you. You are able to delegate your stake to legitimate stake pools without your ADA ever leaving your own wallet. GREEN_ADA stakepool will NEVER ask you to send ADA from your wallet to any address.
You can delegate using:
Compared to Bitcoin which is based on “Proof of Work” methodology, and requires a lot of energy, Cardano uses the “Proof of Stake” methodology. In simple words, in a “Proof of Stake” the pools having a high stake will have a high chance to mint blocks. The stake depends on how much the community delegates to a pool. Delegation is a kind of Voting but you don’t transfer any crypto currency. more info here
No. Since no ADA is transferred you cannot lose it and it always stays safe with you in your wallet.