If there is a cryptocurrency everyone was rooting for, it is ADA Cardano.
Founded in 2017, Cardano has been a fan favorite and is always in trending cryptocurrency searches. Meanwhile, there are multiple reasons fans love this coin. Experts say this coin will change this world of ours.
What is the ADA Cardano coin?
ADA Cardano coin is the native currency of the Cardano network. There is a maximum capped supply of ADA coins at 45 billion. According to coinmarketcap, there are 32 billion ADA in circulation. Similalrly, if the circulation reaches maximum supply, we might see the price escalate.
Cardano cryptocurrency live price today as of 4th April 2022:
ADA Cardano to INR – 92 INR
ADA Cardano to USD – 1.17 USD
Why should I buy the ADA Cardano coin?
Here are a few reasons you must indeed consider investing in ADA Cardano.
1. ADA Cardano is eco-friendly crypto. In comparison, Bitcoin uses almost the same energy as Argentina. Cardano uses energy equivalent to 600 US homes.
2. Charles Hoskinson, founder of Cardano, also once helped create Ethereum. Therefore, this coin has a bright future in development terms.
3. Currently, Cardano processes 257 transactions per second. After they successfully add the Hydra layer, the number jumps to 1 million transactions per second.
4. The Cardano blockchain can help in the authentication of pharmaceutical products. This will certainly avoid the risk of customers buying counterfeit medications. Too cool, right?
5. They altogether have a steady partnership with the Ethiopian Ministry of Education to improve the education system of 5 million students.
What is the use case of the ADA Cardano coin?
Here are a few use cases of this coin that regular investors must know.
1. Staking the ADA coin to earn rewards.
2. Paying fees for transacting on the network.
3. Lending on different platforms to earn interest.
How can I buy ADA Cardano in India?
There are many cryptocurrency apps in the market where you can purchase ADA Cardano. However, I believe the best cryptocurrency apps in India are these 2 platforms that I have been using – Binance and WazirX.
Nonetheless, I have read good Binance reviews from customers in India and abroad. Both Binance India and Wazir X are easy-to-use platforms, and I have never faced problems while depositing or withdrawing money.
Here are the basic steps you must follow on each cryptocurrency app.
1. Sign up
2. Add a Bank account
3. KYC verification
4. Deposit INR/USD in your wallet.
5. Finally, start trading
ADA Cardano price prediction:
In 2021, the ADA coin grew from 27 INR to 235 INR, a 770% increase. As a result, if you invested INR 2700 and bought 100 ADA coins, their value mid-year would become INR 23,500.
In 2022, the cryptocurrency market is going through a bear phase. ADA has fallen to INR 92 today. Hence, price predictions have taken a severe hit. However, if you believe in the future of ADA Cardano, I see them ending the year between INR 144 – INR 182 (50 – 100% growth.)
FAQs:
1. Is cryptocurrency legal in India?
Yes, cryptocurrency is legal in India. From 1st April 2022, if you buy any digital currency, you will incur a 30% + 1% TDS cryptocurrency tax in India.
2. Can ADA cryptocurrency be converted to cash in India?
Yes. You can especially buy ADA Cardano on multiple currency exchange platforms in India. In addition, these platforms support buying the ADA coin in INR.
3. Is Cardano a good long-term investment?
Yes. As this is the most energy-efficient cryptocurrency with genuine goals, Therefore, I see this coin making a difference in the technology world. Overall, it will give its investors a decent profit.
4. Which is the best research tool for cryptocurrency online trading?
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