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Coinberry: Top Platforms to Buy Cardano and Crypto in Canada

Cardano Crypto Coin

In this article, let’s talk about Cardano, how and where to buy it, and if it’s the right time to invest. We’ll also compare Cardano with the most popular cryptocurrencies and blockchains so that you can make a smart choice in crypto investing.

What is Cardano used for?

First, what is Cardano? It is a blockchain platform that uses an energy-efficient way to validate transactions. Perhaps you’ve already heard about how Bitcoin uses a lot of energy. That’s because it uses a Proof-of-Work mechanism that has high energy requirements. In contrast, Cardano uses a Proof-of-Stake mechanism which uses less energy. This is one of the reasons Cardano is positioned as an environmentally sustainable blockchain protocol.

As a blockchain platform, Cardano enables the decentralization of transactions (direct and no middleman). With this decentralization, it can enable the world’s unbanked to conduct financial transactions and get access to similar banking services. And similar to Ethereum (one of the blockchains with the largest market capitalization), Cardano is also used for smart contracts (these are programs that automatically get executed once certain conditions are met). These smart contracts also allow decentralization, where two parties can transact directly with each other without the need for an intermediary.

Although highly similar to Ethereum, Cardano has become popular because of its lower energy requirements and better scalability. That’s because Ethereum (and Bitcoin as well) was not originally designed to handle large volumes of transactions. Because they’re the first blockchains, several improvements have to be made so they can best support mainstream usage. On the other hand, Cardano has built upon the best features of Ethereum and Bitcoin and addressed their biggest problems regarding energy requirements, scalability, and transaction fees.

Is Cardano (ADA) a good investment?

Because of Cardano’s lower energy requirements compared to those of Bitcoin and Ethereum, both developers and investors have seen it as a more attractive option. As Cardano attracts more investors and developers, the platform becomes even more powerful because more funds pour in and developers further explore Cardano’s possibilities.

However, Cardano’s overall development as a blockchain platform seems to be slower (where new blockchains might overtake it). This is partly a result of Cardano’s protocol and technologies being peer-reviewed first before they get integrated.

We can see that Cardano takes a more methodical approach because before a certain protocol or technology gets integrated into Cardano, it undergoes peer review or a process of scientific, mathematical, and editorial scrutiny. This process tends to be slow and tedious because several participants review the details. Although slow and tedious, it’s one way to help ensure Cardano’s integrity, security, and sustainability. In addition, this methodical approach could be one of the main things that set Cardano apart from most other blockchain networks and cryptocurrencies.

What is the best cryptocurrency to invest in now?

With Cardano’s token, ADA, people can use it as a secure exchange of value without the need for an intermediary or a third party. ADA holders can also commit or pledge their tokens to earn rewards. In other words, users can benefit and help the blockchain platform grow or become sustainable just by being an ADA holder and a Cardano participant.

Cardano, just like Ethereum, has been used in decentralized finance (DeFi) and non-fungible tokens (NFTs). As a result, Cardano already has a massive user base which drives its further growth. And as more people invest their time and money in Cardano, its applications and use cases also grow in number. This growing adoption might positively affect ADA’s price in the short and long term.

However, ADA’s price is also highly volatile. This is common in most cryptocurrencies and tokens, where relatively small events can drastically affect their prices. There have been periods where crypto prices have gone into a downward spiral and a continuous upward trend. There have also been major “corrections” where crypto’s prices (including that of Cardano’s) fell drastically and achieved a new stable price range.

Aside from volatility, ADA’s price may also fluctuate because of the price movements in other cryptocurrencies. For example, if Ethereum’s price is getting too high, investors start to look for cheaper cryptos, such as ADA, where they can invest their money. And when ADA’s price becomes too high or once it reaches a new favorable point, investors might sell some of their ADA and go back to Ethereum again. It’s an ongoing dynamic where investors continue to buy and sell crypto and reallocate their funds.

How and where to buy Cardano in Canada?

If you’ve decided that Cardano (ADA) is the best choice, for now, you can easily buy some ADA through a cryptocurrency trading platform. This is a fast and easy way to buy some ADA and start or sustain your cryptocurrency investing journey.

For example, you can buy Cardano in Canada through Coinberry. It’s one of the top crypto platforms where Canadians can quickly buy some Cardano (ADA), Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Polkadot (DOT), and dozens of other cryptos and tokens. Many beginners choose this platform because of its wide availability of cryptocurrencies and the small investment requirement to start (for as little as 50 CAD). In addition, this platform already has more than 220K Canadians signed up. With the platform’s size and popularity, both beginners and experienced investors gain peace of mind and find convenience in cryptocurrency trading.

Buying some ADA may start with you signing up to the crypto trading platform, verifying your account and identity, and funding your account through Interac e-Transfer. It’s fast and easy, which is why beginners are able to get into action quickly and learn how trading works (and discover if cryptocurrencies and blockchains are really interesting).

Cardano is just one of the popular blockchains and cryptocurrencies in the market now. You can start with it and explore other cryptos and tokens in the coming days or weeks. But is today the perfect time to invest? No one knows for sure because the market is volatile. You can see this volatility either as a risk or a worthwhile opportunity.

More on this topic:

Buy Cardano to Enjoy the Maximum Benefit of Cross-chain Bridge in Transaction Cost

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