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Reasons Why HODLing Cardano (ADA) Is A Good Idea

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Cardano (ADA)
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2018 is nearly over, and the crypto market situation is only slightly better these days than it was in the previous months. Most cryptos are seeing their lowest points in the last year, or even longer. With a situation like that, it is of a small surprise that a lot of investors are having an inner debate about whether or not to cut their losses and abandon the space.

While a lot of smaller cryptocurrencies might suffer irreparable damage due to these conditions, some of the bigger hits like Cardano (ADA) are still worth holding onto. Let’s see why Cardano, in particular, is a cryptocurrency still worth HODLing.

Why you should hold on to your ADA coins

Cardano is currently the 11th largest cryptocurrency by market cap, being just above IOTA (MIOTA) and below TRON (TRX), which has recently surpassed it. Its current price is at $0.037356 per coin, and it has a market cap of $968.53 million.

It is the first crypto that has a market cap under $1 billion, although this is something that can easily change at any time. Many often compare Cardano’s marketing strategy to that of TRON, stating that ADA has near-zero fluff, while TRX — and especially its founder, Justin Sun — are often criticized for causing unnecessary hype.

Cardano does not use such methods, as the coin allows its actions to speak. It was created by Charles Hoskinson, who has previously worked on the development of several hit projects, including Ethereum itself. Hoskinson has witnessed the development of multiple coins and has gathered the necessary insight into their flaws.

Because of that, he and his development team took special care while developing Cardano, focusing on quality instead of rushing things. Furthermore, the development team itself consists of professionals and academics, familiar with how a cryptocurrency should operate in the best possible way.

Cardano has also announced several projects which are expected to improve the coin further, such as resolving scalability issues. The main goal here is to provide simple and cheap financial solutions for billions of people around the world, who are considered underbanked. The most promising solution appears to include the introduction of parallel chains and the concept of sharding. If these goals are achieved, Cardano will receive a lot more attention, which will positively impact its price, and potentially make it the representative of the third generation of crypto.

In addition, the coin has appeared on Coinbase’s list of potential listing candidates. If the exchange decides to add ADA to its limited list, it will certainly impact Cardano’s position, as the coin will experience even more usage. Furthermore, ADA is already a tradeable asset on many well-known and trusted platforms, such as HitBTC, UPbit, Huobi, eToro, Bithumb, and it is also expected to arrive at Cryptopia.

It should also be noted that Cardano is a coin with a relatively stable, if low, price. It has experienced less volatility than most cryptocurrencies that are not categorized as stablecoins. One of the reasons for its low price may be its large circulating supply, which currently includes nearly 26 billion coins, as well as its total supply of 31.1 billion units.

For all of these reasons, and more, a lot of experts expect Cardano to be one of the coins that will survive the altcoin apocalypse, both now and in the future. And, when the storm blows over, the remaining coins will find themselves in more favorable conditions, which will allow them to grow and develop properly.

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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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Altcoins

Is there a Real Value to Binance Coin (BNB)?

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Binance Coin
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Binance Coin (BNB) is one of the most interesting cryptocurrencies at the market right now. The coin was developed by the largest crypto exchange by trading volume in the world, and it only works within the exchange’s ecosystem. However, it still managed to achieve what many believed was impossible — it stopped following Bitcoin’s lead, and it started carving its own path.

At the very least, the coin is highly intriguing, but does it hold real value? This is a question that many in the crypto community have been asking for a while now, uncertain whether BNB is a worthy investment or not.

What gives BNB its value?

Binance Coin cannot be used for purchasing goods and services, like Bitcoin. It currently does not fuel a development platform like Ethereum. It cannot even be used as XRP for sending international payments. However, the coin had still managed to triple its price in the last three months and to surge when most other cryptocurrencies were seeing losses due to the last remnants of the crypto winter.

BNB managed to achieve all of this because of its use cases within Binance, but also because of its future potential. First of all, Binance is the largest crypto exchange in the world, with millions of customers, most of which use the exchange on a daily basis.

This means that the exchange inspires…

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Top 3 Reasons To HODL Binance Coin (BNB)

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Binance Coin
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After 2018 crypto winter began, everyone involved with cryptocurrencies experienced quite a difficult period. The prices were down, weak projects started failing, and even the strong ones appeared to be in more trouble than they could face. The year was especially difficult for HODLers, as they expected that the coins’ prices would continue to skyrocket. Instead, they lost a fortune, not even knowing if the prices will ever start returning to their former heights.

These days, things do not seem so bad anymore. The prices are still down, most of the coins are still at their newly-found bottoms, but smaller bull runs are improving the situation, while a massive one still remains somewhere in the future, at least according to optimists.

However, among the coins in the vast and diverse crypto market, one token stands out. Binance Coin is not exactly a typical cryptocurrency, and for many reasons. The biggest one is that it is one of the few tokens out there that does not follow Bitcoin’s lead, at least not anymore. Whether that will change in the future remains to be seen, but for now, BNB appears to be going its own way, carving its own path through the crypto market.

Its price has increased by several hundred percents since the year began, and for now, it continues to grow. As such, it is perhaps more worthy…

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Why Binance Could Become The First Centralized Company To Achieve Total Decentralization

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Binance DEX
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At this point, pretty much everyone who knows anything about cryptocurrencies knows that they are based on the concept of decentralization. The same is true for the blockchain technology. While there are some exceptions, such as certain stablecoins, most digital coins follow this principle.

This means that these coins, as well as their network, have no central authority, no single entity that would make choices and decisions that would impact others. However, while most coins managed to achieve this through different complex mechanisms and algorithms — one aspect of crypto trading still remains heavily centralized. We are, of course, talking about crypto exchanges.

Centralization of crypto exchanges

Most of the largest crypto exchanges out there are designed as companies, rather than community-operated platforms. The exchanges have their employees who designed them and developed special tools. They act as customer support, developers, innovators, and alike.

They also get to decide which coins will be listed and which are too weak, uncertain, or not fit to be found on the list. Exchanges are also responsible for keeping the traders’ and investors’ funds safe, which is why they typically develop their own wallets. As such, they are often targeted by hackers, as the coins are stored in an exchange wallet, waiting to be withdrawn, sold, or converted into different currencies.

This makes them extremely unsafe, and investors and traders are always…

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