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Bitbuy | Buy Cardano
Should Bitcoin and Ethereum have all the blockchain fun? Of course not! The more blockchains and safe and secure decentralized applications, the better. This is what Cardano aims to achieve with its third generation blockchain and token, ADA. As it captures more international business headlines, many digital investors are keen learn more about one of the world's largest cryptocurrencies.
Cardano: A Primer
Cardano launched in 2017 and was celebrated as a multi-layer third-generation blockchain, aiming to compete with the first-gen Bitcoin and second-gen Ethereum for financial transactions and distributed computing. The purpose behind Cardano is to provide more efficient, scalable, and secure applications on a decentralized platform.
ADA is the digital token that runs on the Cardano blockchain. It is named after Ada Lovelace, a 19th-century mathematician believed to be the world's first computer programmer.
What makes Cardano both an exciting and functional crypto infrastructure is that decentralized applications, also known as DApps, are autonomous because of smart contracts. Smart contracts, which make the cryptocurrency world more advanced than the conventional financial system, are agreements between buyers and sellers that are written into lines of code. As a result, the code and the agreements within these transaction protocols are created across the blockchain network.
The Cardano network does receive upgrades, with the latest one offering a new host of new use cases of DApps and purpose-built smart contracts. This also helps the blockchain better compete with Ethereum.
Is Cardano achieving scalability? Indeed! Cardano can process as many as 257 transactions per second. Bitcoin and Ethereum process five and 15 transactions a second, respectively. With plans to add another layer to its blockchain - called Hydra - Cardano could potentially process a whopping one million transactions per second!
Another significant advantage for Cardano is that it is energy efficient, requiring six gigawatt-hours. This is lower than Bitcoin's 130 terawatt-hours and Ethereum's 50 terawatt-hours. Energy efficiency has turned into a critical issue in the crypto realm, with many leading figures urging miners, coders, and creators to focus on sustainable energy usage in the midst of a global climate crisis.
How to Buy and Sell Cardano with Bitbuy
So, how can crypto enthusiasts and novice investors buy Cardano? Bitbuy has everything you need to get started, or to level up your digital currency trading game!
- Create an account on the Bitbuy.ca trading platform by entering your email address and telephone number. You then need to verify your identity.
- Once your identity has been confirmed, you can deposit money into your Bitbuy account using Interac e-Transfer or a bank wire
- Choose your fiat currency and decide which cryptocurrency you want to buy. Choose from Cardano, Bitcoin, Litecoin, Dogecoin, and so much more!
With as little as $50 in your Bitbuy account, you can begin buying, selling, and trading immediately.
Think it sounds too good to be true? Bitbuy aims to eliminate the confusion and the overly complex nature of the cryptocurrency realm with its easy-to-use trading platform suitable for investors of all skill levels!
It’s never too late to get in on the cryptocurrency action! It is dynamic, ever-evolving marketplace with a treasure trove of opportunities to explore. Cardano is one of many cryptos that aims to innovate, solve, and prosper; it’s a great option to either start your crypto journey, or diversify your portfolio. Happy trading!