With a market capitalization of USD 1.16 billion (at the time of writing this article), the Cardano cryptocurrency is currently the 11th largest digital currency by market capitalization. Although it does not currently feature in the top 10 cryptocurrencies, Cardano Blockchain has been making a lot of strides which gives you many reasons to buy Cardano in 2019!
Since it was first issued in 2015, Cardano or ADA has come a long way. Let’s go through some of the top reasons that make Cardano a good investment in 2019.
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7 Top Reasons to Buy Cardano in 2019
1. Scalability Enhancement
Cardano’s development team is working towards solving one of the biggest problems with Blockchain networks- that of scalability.
The Cardano Blockchain aims to bring billions of people who do not have access to banking under the umbrella of financial services. For this to happen, the Cardano’s network needs to work with increased traffic. It is only achievable with a scalable ecosystem.
The CEO of Cardano Foundation, Charles Hoskinson has said that their team is working on sharding and parallel chains. Both of the concepts aim to eliminate the scalability problems.
Once Cardano achieves full scalability, it won’t be far from becoming the third generation Blockchain that it had initially sought out to be.
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2. Efficient Use of Technology
Being a third generation Blockchain, Cardano has to resolve issues such as interoperability, scalability, and interoperability. Cardano has its techniques to tackle scalability-related problems such as transactions per second, data storage, and bandwidth. The Cardano Blockchain resolves the issue of bandwidth with sub-networks which interact through TCP/IP.
Cardano ensures sustainability with a Treasury wallet. A portion of transactions is deposited in this wallet. By putting forth their development plans, their cost, and other requirements, developers can ask for voting on the changes. Users get to choose which changes are essential. The Treasury wallet, which is powered by Smart Contracts, will subsequently release funds for the voted changes.
4. Daedalus Wallet
The multi-platform Daedalus Wallet for ADA is a great addition to Cardano. The wallet is highly secure. One can export it to cold storage or paper wallets too.
5. Future Listing on Coinbase, the Biggest Crypto Exchange
The announcement by Coinbase last year that it could potentially list ADA on its exchange made a lot of waves. Just imagine what happens when Cardano actually lists on the world’s biggest crypto exchange.
Coinbase, notably, has more than 20 million users. Hence, a potential listing on the exchange will greatly increase the exposure of Cardano. Some analysts are of the view that after listing, ADA could touch the price of USD 1.
At the time of writing, it was trading at USD 0.045104.
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6. Developed by Scientists
Cardano is a Blockchain which has always been proactive in its approach. This approach is highlighted by the fact that it was built by a team of scientists, engineers, and academics.
7. Charles Hoskinson as the CEO of the Cardano Foundation
All cryptocurrencies are popular for different reasons. For example, Dogecoin stands out as it was made popular via a meme. And now it is known as the tipping currency.
Ethereum, another example, is as much famous for Smart Contracts, as it is for its founder Vitalik Buterin.
In a similar manner, Charles Hoskinson is one of those famous personalities who stand behind their creation. Hoskinson is the CEO of the Cardano Foundation. He is always keeping the crypto community up to date with the latest developments in Cardano.
Quite rightly, Hoskinson is the driving force behind the Cardano project. His history goes back to the conception of Ethereum.
Along with his team of developers, Hoskinson is leading Cardano in the right direction. Hoskinson’s investment in the project surely makes Cardano a good bet for 2019. To understand the Cons and Pros of Cardano, do read our article on the same.
Caradano has lots in store for crypto enthusiasts in 2019. This might just be the year when ADA touches the USD 1 mark. If you think it is worth your money, then make sure to buy the cryptocurrency during a time when it is trading in the red.
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