Cardano Investment Score: A-
Cardano Growth Potential: A+
Cardano Sustainability Score: A
Cardano Brains Behind Currency: A+
Cardano has seen a rapid rise to the top ten of the market cap charts. As of March 1st, 2018, Cardano received the Weiss Rating which is reserved for the top three cryptocurrencies in the space. The Weiss ratings are based off many mathematical factors which are explained more thoroughly. Many of these facets are based on functionality and scalability of currency.
The Weiss Ratings have been benchmarks for the insurance and stock industries. Their introduction and recognition of Cardano has many parties interested in investing.
Cardano is still two years from completion but is already tracked anywhere from 8 to 5 on the top ten market cap charts. Many enthusiasts are encouraged by the amount of attention Cardano has been able to pay to its foundational code. It is self-funded. It has ample cashflow to pay developers. This has tipped the cryptocurrency off to be a stronger horse as it pertains to security and functionality. Developers on staff also makes the currency much more agile than some of the others in its class.
The staffed developers speak to Cardano’s desire to be the largest and most sophisticated blockchain platform on earth. Using open source coding, staffed top line talent, and more complex smart contract technology than any other platform, many are excited about Cardano’s capabilities to handle the most challenging aspects of AI and computer robotics.
Cardano proudly claims to be “the fire blockchain platform to evolve out of a scientific philosophy and research driven approach.” This philosophy is at the core of the currency, which aims to be used by millions in thousands of different ways. Cardano is even known for having an equation that solves cubic equations amongst other equations.
The platform is set to be quite technical at launch, though it is still in its infancy stages. Cardano at completion has been evaluated by academics. Everyone agrees that it will be groundbreaking if done correctly. If deployed without a hitch, ADA will run government, insurance, financial, medical, and other complex functions without a hitch and without human aide. Once live, it could change the efficiencies of government agencies. This would streamline what has been difficult due to confidentiality.
Cardano is also built to pivot into forks, much as we saw with Bitcoin Cash. Bitcoin Cash wasn’t the most well executed endeavor. Cardano is built to be more flexible. Layer by layer, Cardano is being constructed to build up to its ultimate goal. If any changes occur during that process, it can quickly change course due to the stages it is being designed.
Cardano is denoted as ADA on exchanges. To utilize its services, Cardano requires users to download the “Deadalus” wallet. This is essentially a Cardano wallet. This wallet is secure and for the use of ADA/Cardano based trades.
Cardano, reddit, and other social mediums have been popular in the same sentences. Cardano has largely been supported by the Reddit community. In addition, Cardano is widely acknowledged by entities such as the Weiss Rating to be far superior in terms of brain trust to other currencies. The role of Cardano engineers cannot be understated when looking at investment in the currency.
Cardano is heralded as being the weirdo of the cryptocurrency space. It pushes the envelope with development and constant changes. This makes its finished product a patchwork picture.
It was co-founded by the founder of Ethereum, Charles Hoskinson. He considers bitcoin to be a first-generation technology. Cardano makes it no secret that it hopes to crush Bitcoin in its way to the top by leveraging the smart contract.
Doubters of this technology are hard to find, and that’s because of the brains behind it. The main doubts behind the altcoin come from its newness in the space. Many doubt the space in general. If you think the cryptocurrency space will die, Cardano may not be for you.
Other doubters dislike the Ethereum contract level space. They feel financial entities may be reluctant to relinquish their control. I don’t think Cardano or its owners care much about what people think.
How to Buy Cardano
We always recommend careful research before investing, especially with something as highly speculative as an altcoin. Buying ADA may be worth the experience given its high aspirations.
You’ll first need to find a way to store your Cardano. Currently the Cardano Foundation wallet named Daedalus mentioned earlier is the only way to do so. You’ll need to create an account and go through the various steps to download your wallet. A step by step guide is available here.
You can buy ADA using Binance and Bittrex. You’ll need to first transfer in bitcoin, bitcoin cash, Ethereum, or litecoin from an account like Coinbase. Once your currency is live in Binance or Bittrex, you can covert it to ADA which can then be stored in your Daedalus wallet.
Good luck out there!