The crypto-markets are abuzz with news of a resurgent Bitcoin (BTC). The King of Crypto made some enormous gains last week that even John McAfee was wondering if this was another Bull run. The past week has been amazing and many crypto-enthusiasts believe this is the beginning of something great with the daily discoveries of more and more institutional investors getting into crypto.
There is the BlackRock investment firm that has declared its interest in blockchain technology as well as cryptocurrencies. There is the Swiss-based SIX stock exchange that plans on launching a fully integrated crypto exchange. Coinbase has also launched the Coinbase Custody service to store the digital assets of institutional investors and high net individuals.
This then brings us to three reasons why you should get some Cardano (ADA) before the institutional investors get wind of the wonderful digital asset.
To begin with, Cardano (ADA) is the cheapest digital asset in the top 10 according to market capitalization. ADA is currently trading at $0.166 at the moment of writing this. One can argue that there are too many ADA coins in circulation. There are currently close to 26 Billion ADA in circulation and a total supply of 31.11 Billion. But this is still less than the circulating supply of XRP (XRP) which stands at 39.3 Billion coins in circulation and another 60 Billion owned by the Ripple company.
This, in turn, means that once the ADA platform has integrated all the planned layers and protocols, the coin has the possibility of eclipsing XRP at an astronomical rate.
Secondly, and as mention, the ADA platform is currently being developed in layers and is the product of some elegant scientific research and work. The first layer of the platform is the settlement layer that is linked to a control layer. The latter is where there are plans for integrating smart contracts. There is also the ongoing decentralization through the Shelley protocol. Cardano is completely open-source like its predecessor, Bitcoin. Think of ADA as an improvement of Satoshi Nakamoto’s vision of a cryptocurrency and decentralization. More information about the project’s progress can be found on its roadmap page.
The third reason to go hard on Cardano (ADA) is the simple fact that has been highlighted in the title of this piece. The institutional investors are yet to get into crypto 100%. The ones that are already in the industry, are probably more focused on the big five coins of BTC, ETH, LTC, ETC, and BCH. Notice we have not mentioned XRP because it has a lot of pending cases and additional SEC scrutiny. As a matter of fact, ADA could replace XRP as the next digital asset in that list to make it the sixth crypto in the big 6 coins everyone wants to own.
Summing it all up, we are at the cusp of something monumental in the crypto-markets. The last 6 months have thinned the herd in terms of who is still left owning cryptocurrencies. The ones who are left, know that the big money from Wallstreet is coming and it is coming in like a tsunami. Therefore, it is wise to stock up on coins with potential such as ADA.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges…
Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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