My interest in Cardano got roused when couple of months back I read an article which claimed Cardano was built on technology that was far superior to Ethereum and in the coming years it was going to replace ETH as the preferred backbone of crypto industry. Many people claimed it to be the Japanese Ethereum as more than 90% of it’s ADA tokens were held by the Japanese. Once it announced it’s partnership with the New Balance footwear company the global investments started pouring in even faster. Soon it had a market cap of over $1 B, which placed it in the top 15 cryptos in terms of market worth.
Based on what I came across in the publicly available reports on Cardano, following are the key differentiating factors which might make it one the biggest gainers during the next bull run, which frankly is long overdue.
Why I think Cardano will strike gold in the coming year:
- Scientific Research based: Cardano is claimed to be technically and scientifically the most solid crypto project. The concepts of mathematical code verification and the research that has been put into it’s code is touted as the most thorough compared to it’s competitors and is the key reason why many strongly believe it will outperform Ethereum very soon.
- Learning from Other’s mistakes: Cardano’s team states they researched over 1,000 altcoins and the reasons why they failed to deliver and incorporated the lessons learnt on improving Cardano. Was this research fool-proof only time will tell.
- Current price level: It’s current price level of $0.05 makes it one of the most undervalued projects in the top 20 coins list and leaves a large space for future appreciation. People with some risk appetite stand to get great RoI if this token perform wells in coming years.
Despite these positive features I am still a bit apprehensive before making a big investment decision on Cardano.
What still makes me cautious about Cardano:
- Not listed on Coinbase: During 2nd half of 2019 Coinbase listed several new coins on it’s exchange platform but this list did not include Cardano. It can be traded on Binance but I feel Coinbase is more selective about which coins it includes and does a solid background check. If Coinbase found something about Cardano which made them hesitate it is sort of a red flag for me.
- 45 Billion coins: Maximum supply limit of Cardano is set at 45 billion, which in my opinion is way too high considering most of the prominent coins have supply limited at some millions with Bitcoin having a 21 million limit. With such a huge supply I doubt ADA will ever cross the $100 mark leave aside $1,000 or higher.
Overall I am waiting for a move by Coinbase, if they decide to include it in their exchange I might start investing limited amounts, but till then I am just going to wait and watch how this project unfolds.
Make sure to do proper research on your own before taking an investment decision on ADA. Do let me know if you already have experience holding or trading ADA or there is anything you would like to share about Cardano.
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Originally posted on Uptrennd by me at - https://www.uptrennd.com/post-detail/is-cardano-worth-investing~MjAwMjMw