What Is Cardano?<\/h2>\n
Cardano is a proof-of-stake<\/a> blockchain platform launched in 2017 by former Ethereum<\/a> developer Charles Hoskinson. Cardano, the 1st blockchain built based on peer-reviewed research, is being developed through evidence-based methods. Overcoming the scalability and security vulnerability issues of Ethereum is the goal of the project. Hoskinson also wanted Cardano to be a for-profit entity, accepting venture capitalist donations. In contrast, Ethereum was adamant about remaining a non-profit organization.<\/p>\n
Elon Musk caused a stir in the markets when he tweeted<\/a> that Tesla <\/strong>(NASDAQ: TSLA) won\u2019t begin accepting Bitcoin until it increases its use of renewable energy. Cardano is a proof-of-stake <\/a>blockchain in contrast to Bitcoin and Ethereum, which both use a proof-of-work<\/a> protocol. The proof-of-stake protocol is more environmentally friendly since it uses significantly less energy than proof-of-work chains. The proof-of-stake system can achieve more than 4 million times the energy efficiency of a proof-of-work system.<\/p>\n
The Cardano platform consists of 2 layers. The settlement layer is where the ADA token exists and keeps track of transactions. The 2nd layer, the computation layer, enables smart contracts and decentralized applications (dApps) to run on the platform.<\/p>\n
Cardano Market Capitalization<\/h2>\n
The market cap of Cardano as of August 2021 is around $90 billion, cementing its position as the 3rd biggest cryptocurrency according to CoinMarketCap ($89,954,280,847). The current price of a single ADA token is just under $3 \u2014 almost 100 times greater than its 2020 low of around $0.03.<\/p>\n
You shouldn\u2019t focus too much on the cost of an asset because it\u2019s the market cap that determines the market value of a project\u2019s circulating token supply. The market cap is the total cost to purchase all the projects tokens entirely in a single transaction. The market cap also helps disclose the amount of risk involved when investing in a project. Cardano was able to soar to the 3rd highest market cap because of the anticipation of the Alonzo hard fork in September 2021. The hard fork will allow DeFi, non-fungible tokens (NFTs) and gaming apps to go live on Cardano.<\/p>\n
The project\u2019s large-cap ranking (about $90 billion) makes it principally categorized as a \u201csafe\u201d investment. Analysts identify potential capacity for Cardano to grow in value. Cardano has a chance to match Ethereum\u2019s projection of hitting a $1 trillion market cap by 2022. The Cardano ecosystem is forecasted to grow exponentially, and owning ADA could be rewarding as adoption grows.<\/p>\n
C. Jebb\u2019s Bull Case for Cardano<\/h2>\n
C. Jebb is a talented trader who also provides insights into current events and predictions on the crypto market. He thinks that after ripping through all-time highs, Cardano could be due for a correction to the downside in the short term. However, by recently adding Cardano, Japanese exchanges could help produce a bullish move to the upside long-term. C. Jebb predicts that Cardano will go to $10 in the next 10 to 12 months but looks for it to correct in the short term.<\/p>\n
In some ways, Cardano is in a similar position to that of Ethereum in 2018, on the cusp of making its debut into the DeFi and NFT space with the release of SundaeSwap. SundaeSwap is a DEX built on the Cardano blockchain. Sundaeswap uses the same protocol popularized by Uniswap, with several innovative adaptations for Cardano. DeFi protocols running on Cardano could be a bullish catalyst for the long-term growth of the ADA token price.<\/p>\n
Jason\u2019s Bear Case for Cardano<\/h2>\n
Jason from \u201cA Chain of Blocks\u201d podcast is a brilliant market analyst who is a big Cardano fan. Still, he also sees a possible bearish scenario for the project. The crypto space is exceptionally fast-paced, yet the development at Cardano has been moving at a languid pace. Projects that launched years after Cardano like Elrond and Polkadot have delivered far more robust ecosystems. The lack of smart contract functionality means that not many developers are building on Cardano.<\/p>\n
Other projects could increase their lead in development if Cardano delays releasing smart contracts. If smart contracts succeed, Cardano will still need time to implement sharding to overcome scalability issues. If the bearish scenario plays out, Jason didn\u2019t give a price prediction but sees a deep correction coming for the price of ADA.<\/p>\n
Where to Buy Cardano<\/h2>\n
You can buy the ADA token at several exchanges, including Coinbase<\/a> (NASDAQ: COIN) and eToro<\/a>. If you\u2019re new to the crypto space, a centralized exchange like Coinbase may be easier to use. Make sure to research several exchanges because each has unique benefits to offer users.<\/p>\n
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1 Minute Review<\/h5>\n
Coinbase is one of the Internet\u2019s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs.\u00a0<\/span><\/p>\n
You can even earn cryptocurrency rewards through Coinbase\u2019s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.<\/span><\/p>\n
Though Coinbase doesn\u2019t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade. <\/span><\/p>\n<\/p><\/div>\n
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Best For<\/h6>\n
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New cryptocurrency traders<\/li>\n
Cryptocurrency traders interested in major pairs<\/li>\n
Cryptocurrency traders interested in a simple platform<\/li>\n<\/ul>\n<\/div>\n
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Simple platform is easy to operate<\/li>\n
Comprehensive mobile app mirrors desktop functionality<\/li>\n
Coinbase Earn feature rewards you with crypto for learning about available coins<\/li>\n<\/ul>\n<\/div>\n
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Cons<\/h6>\n
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Higher fees than competitors<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n
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FREE\n <\/p>\n
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$10.00 USD\n <\/p>\n<\/p><\/div>\n
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1 Minute Review<\/h5>\n
Voyager is a leading name in the sphere of cryptocurrency investing, giving you access to over 50 tokens and coins. Buy, sell and swap assets using Voyager Crypto\u2019s simple mobile platform available as a free download for iOS and Android users.\u00a0<\/span><\/p>\n
When you invest through Voyager, you\u2019ll pay nothing in commissions, which is a major benefit when compared to other cryptocurrency brokers. Voyager is also one of the only brokers we\u2019ve seen that allows users to earn interest on their crypto investments.\u00a0<\/span><\/p>\n
Though the broker could do more to improve its customer service, it\u2019s an excellent option for beginner investors and seasoned professionals alike. <\/span><\/p>\n<\/p><\/div>\n
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Best For<\/h6>\n
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Cryptocurrency investors looking for a wide selection of supported projects.<\/li>\n
Investors who prefer mobile trading.<\/li>\n
Anyone interested in earning interest on their crypto investments.<\/li>\n<\/ul>\n<\/div>\n
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Pros<\/h6>\n
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Simple, straightforward and intuitive mobile platform<\/li>\n
Wealth of investment opportunities<\/li>\n
Allows users to earn interest on select crypto investments<\/li>\n<\/ul>\n<\/div>\n
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Only available for mobile users \u2014 no desktop platform<\/li>\n
Limited routes to contact customer service team<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n
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$50 for US and Australia; $200 everywhere else\n <\/p>\n<\/p><\/div>\n
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1 Minute Review<\/h5>\n
eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform\u2019s best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features<\/p>\n<\/p><\/div>\n
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Best For<\/h6>\n
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U.S. based cryptocurrency traders<\/li>\n
Social and copy traders<\/li>\n
Simple user interface<\/li>\n
Community engagement and following other traders<\/li>\n<\/ul>\n<\/div>\n
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25 cryptocurrencies<\/li>\n
Expansive network of social trading features<\/li>\n
Large client base for new traders to imitate<\/li>\n<\/ul>\n<\/div>\n
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U.S. traders can only buy cryptocurrency<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n
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. 25% or less\n <\/p>\n
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0.00001 BTC\n <\/p>\n<\/p><\/div>\n
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1 Minute Review<\/h5>\n
Gemini is a cryptocurrency exchange\u00a0and custodian that offers investors access to 26 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.<\/p>\n
Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini\u2019s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader.\u00a0<\/span><\/p>\n
In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.<\/span><\/p>\n<\/p><\/div>\n
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Best For<\/h6>\n
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New investors looking for a simple mobile and web app<\/li>\n
Experienced investors who need a more advanced platform with more tools<\/li>\n
Users looking for a 1-stop-shop to buy, sell and store all of their coins<\/li>\n<\/ul>\n<\/div>\n
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Pros<\/h6>\n
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Easy and quick signups \u2014 can get started in as little as a few minutes<\/li>\n
Multitude of platforms to accommodate traders of all skill levels<\/li>\n
Hot wallets include insurance to protect your from theft and hacking attempts<\/li>\n<\/ul>\n<\/div>\n
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Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n
How Long Will it Take for Cardano to Reach $10?<\/h2>\n
Cardano has been one of the breakout projects of 2021. It proved its ability to reach high price points by continuously smashing through all-time highs. If the Alonzo hard fork goes off without a hitch, the ADA token could get to $10 before the end of 2021. Cardano will increase its user and developer base as more DeFi and NFT projects are released, which should cause an increase in the price of ADA. For Cardano to reach $10, Bitcoin will have to remain on an upswing for the remainder of the year. However, due to the very turbulent nature of the crypto markets, you should not put too much confidence into price predictions. There could also be delays in project development. A more conservative outlook is that ADA could reach $10 in the next 10 to 12 months.<\/p>\n
Where to Store Cardano Safely<\/h2>\n
It\u2019s not safe to leave your crypto assets on an exchange because, in the event of a hack, you could lose your money. The best practice is to keep your crypto assets offline in a hardware wallet or an online software wallet, depending on your preference. Using a crypto wallet gives you more security as long as you keep your private keys safe.<\/p>\n
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Commissions<\/h6>\n<\/p>\n

Cons<\/h6>\n\nHigher fees than competitors<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n\n\n\n \n <\/a><\/p><\/div>\n<\/p><\/div>\n\n\n\nCommissions<\/h6>\n FREE\n <\/p>\n

Commissions<\/h6>\n FREE\n <\/p>\n

Commissions<\/h6>\n Depends on security and leverage\n <\/p>\n

Cons<\/h6>\n\nU.S. traders can only buy cryptocurrency<\/li>\n<\/ul>\n<\/div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n\n\n\n \n <\/a><\/p><\/div>\n<\/p><\/div>\n\n\n\nCommissions<\/h6>\n . 25% or less\n <\/p>\n

Commissions<\/h6>\n . 25% or less\n <\/p>\n

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FREE\n <\/p>\n

Commissions<\/h6>\n
Depends on security and leverage\n <\/p>\n

Commissions<\/h6>\n
. 25% or less\n <\/p>\n