Cardano includes volatility like all assets. But the essence of cryptocurrencies is that they do not value by a particular group or entity. The supply and demand of these cryptocurrencies will increase or decrease Cardano price.
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What is Cardano?
The Cardano blockchain platform is a third-generation decentralized proof-of-stake (PoS) alternative to proof-of-work (PoW).
With PoW networks like Ethereum, scalability, interoperability, and sustainability are constrained by the infrastructure burden of energy use, rising costs, and slow transaction times.
A co-founder of Ethereum, a proof-of-work (PoW) blockchain, Charles Hoskinson, recognized the implications of these challenges for blockchain networks, and he was inspired to create Cardano and its primary cryptocurrency, ada, in 2015. The platform and ada token launched in 2017.
Cardano aims to replace Ethereum. Both platforms are used for the same purposes, such as smart contracts, and both aim to create a connected, decentralized system.
Cardano was designed as an update to Ethereum. The blockchain platform is also designed to give banking services to those without bank accounts.
Cardano use cases
Cardano is primarily used for identity management and traceability. The former application can be used to streamline and simplify processes that require multiple sources of data to be collected.
In the latter case, you can track and audit a product's manufacturing process from its origins all the way to its finished goods, and thus, reduce the market for counterfeit goods.
What are cryptocurrency exchanges and how can I buy Cardano?
On an exchange, Cardano can be purchased with fiat currencies or cryptocurrencies. Cryptocurrency exchanges are online platforms that act as an intermediary between buyers and sellers.
It is necessary for users to register on an exchange in order to transfer cryptocurrencies, and their identities must be verified. After the verification process is complete, the user will be able to buy Cardano and the funds will be transferred to their account.
How to trade Cardano on OMPFinex?
With a Rial deposit, you can purchase ADA on the Toman Market, and with a USDT deposit, you can purchase Cardano on the Tether Market.
- On Toman Market, you can buy Cardano for at least 100,000 Tomans.
- On Tether Market, there is a minimum purchase amount of 10 USDT for Cardano.
- There is a 1.5 ADA withdrawal fee and the minimum withdrawal amount is 20 ADA.
Why should you trust OMPFinex?
As a pioneer in blockchain science, OMPFinex provides a secure environment for storing and holding cryptocurrencies, allowing its users to buy and sell cryptocurrencies at the lowest possible price. Users can also use the OMPFinex application to put their orders.