Coinberry is an easy way to buy Cardano in Canada for as little as 50 CAD. Whether a beginner or an experienced investor, you can easily start or sustain your crypto investing journey and get more value from your funds and investment.
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Buying Cardano (ADA) in Canada
Through Coinberry, you get more value because there’s no CAD deposit and withdrawal fees. Other crypto trading platforms usually charge a small percentage of each withdrawal and deposit. Although it’s a small percentage, the accumulated fees could have been instead used on buying more Cardano and other cryptocurrencies and tokens.
Through Coinberry, there are no deposit and withdrawal fees. Instead, they make money by sourcing crypto at lower prices from their network of liquidity providers and then reselling the crypto at the listed prices. As a result, there are no losses from the customers’ side because the profits came from somewhere else.
To start, you can create an account in Coinberry, verify your account and identity, fund your account through Interac e-Transfer, and start or continue your crypto investing journey. This is a quick and straightforward way to buy some of Cardano’s native token (ADA) and see how its price performs for the next few days and weeks.
What is special about Cardano?
Before you move forward on buying Cardano (ADA), you might want to learn more about this blockchain platform, why it’s a good investment if it’s better than Ethereum, and if it has a bright future. Let’s start.
First, Cardano is a blockchain platform that is more energy-efficient than Ethereum and Bitcoin. It has addressed the major concerns about those two major blockchains on energy consumption and carbon footprint. And with this greater energy efficiency, the natural consequence is that Cardano has lower transaction costs while achieving great scalability.
That is possible because Cardano uses an energy-efficient way to process transactions (this is called the Proof-of-Stake mechanism, where the amount of computational work is reduced). In contrast, both Bitcoin and Ethereum still use an energy-intensive way to verify blocks and transactions (this is called Proof-of-Work, the original consensus mechanism).
Later on, Ethereum might fully switch to Proof-of-Stake (energy-efficient). After all, there’s constant pressure to reduce energy use and environmental impact. Also, energy costs are continuously rising, which is why investors and developers are always looking for platforms that use less energy while maintaining functionality and scale. Cardano is ahead when it comes to energy efficiency and sustainability (and it claims to be the most environmentally sustainable blockchain protocol).
Cardano vs Ethereum
Cardano is always being compared to Ethereum because they’re highly similar in functions and purpose (decentralized finance, smart contracts). The major difference is that Cardano was originally designed for greater energy efficiency and better scalability. This is one benefit of being a late mover because Cardano has learned from the challenges Bitcoin and Ethereum have been facing. For years, people have always been concerned about the high energy requirements of Ethereum and Bitcoin and hence these blockchains’ long-term viability (and loyalty of developers and investors). But with Cardano, those challenges have been addressed proactively.
Aside from greater energy efficiency, Cardano is also known for its research-based and methodical development. Before Cardano integrates a particular protocol or a technology, first it undergoes peer review for rigorous analysis. This scrutiny helps ensure that the entire Cardano network will maintain its integrity and improve its security as it reaches mainstream usage.
For example, Cardano is the first to implement Ouroboros in its network. This blockchain protocol is based on peer-reviewed research. It combines unique technology and mathematically-verified mechanisms which can help ensure the security and sustainability of the Cardano blockchain (and other blockchains that might depend on Ouroboros). This blockchain protocol also achieves an ideal balance between individual and collective interests. As a result, there are more incentives for honest participants, and the entire network also benefits from those individual actions.
To take part in Cardano’s sustainability and development, people can buy its native token, ADA. This digital currency can be used as a secure exchange of value (direct and secure financial transactions). In addition, ADA can also be used to earn rewards by committing your token. By simply being an ADA holder, you can reap some of the benefits while contributing to the further growth and development of Cardano.
Buy Cardano now or wait?
Cardano is one of the most popular blockchain platforms today. Through the years, it’s always been one of the top ten cryptocurrencies and has maintained its huge market capitalization. With this size and popularity, there’s been a constant movement of people and money coming in and out of this network. Fortunately, the number of people continuously involved in Cardano and ADA has always been more than enough to support the growth of this platform.
Some analysts have concluded that it has the potential to overtake Ethereum or perhaps move further up the ranks. With its great positioning as an environmentally sustainable blockchain protocol and being research-based, it may continue to attract more users and investors.
The future of Cardano and ADA’s price is highly uncertain (just like most cryptocurrencies and blockchains). This uncertainty and the fluctuation of ADA’s price might be caused by recent government regulations, public sentiment, the general movement of the crypto market, and dynamic competition (as other blockchains are also under ongoing development to make their operations more energy-efficient, faster, and more scalable). With this uncertainty and fluctuation and dynamic crypto market, the risks and opportunities will always be there.
To minimise the risk while potentially taking advantage of the opportunity (just in case ADA’s price goes into an upward trend), it’s always good to start small and see the trends. It may also help to adopt a consistent strategy such as investing small amounts each week. This way, you won’t always worry about missing out on the trends. It’s also a practical way to save time and mental energy and instead use that on your other pursuits and investments.