This is not financial advice. Please: do not invest what you’re not ready to lose.
As soon as the year 2021 started, crypto is everywhere. On the memes, on the news, on social media, on advertisements, and so on. This popularity felt like utopia when I was first introduced to crypto back in 2011. Little did I know what blunder I’d make by not diving into crypto and buying some Bitcoins while it was over and around the $1 mark?
I won’t lie; hearing about a “digital currency” did feel like some of the retro-futurism posters I saw while growing up might be coming true. As a 16-year-old, earning very little made me re-think my choice, just like many others did at that time, and I didn’t invest anything, unfortunately.
Today the world of crypto is impressive, with over 4000+ coins/tokens to choose from, Reddit communities filled with excellent and helpful strangers, memes all around us, and news about crypto guru Elon Musk constantly circulating, for a newbie, it’s not an easy job figuring out which coin to focus and which not to.
The one which has got my attention is indeed Cardano ADA, and for the right reasons, it should catch yours too.
What is Cardano ADA?
Many people often get confused between ADA and Cardano; are both the same thing or not?
Simple answer: no, they’re not. Cardano is the blockchain platform, while ADA is the currency that lives on the Cardano blockchain.
You can simply say: Cardano is ADA’s home; without Cardano, there won’t be any ADA. Cardano allows not just to send ADA from one wallet to another but also to store intelligent contracts and applications.
This mechanism is simply no surprise to anyone who understands how Ethereum works. The reason is simple: both have the same co-founders that includes Charles Hoskinson along with Jeremy Woods. While it seems both are similar, that’s not true, and the reason lies in how Cardano’s innovative contract platform works, which…