Cardano is a blockchain launched in 2015 as a refined alternative to existing chains. Great for deploying smart contracts and applications. Its native ADA cryptocurrency is used to transfer transactions within the network and is used to confirm transactions using the Proof-of-Stake mechanism. In this article, the Btcnewsweb.com editors will tell you how to get and earn Cardano (ADA) in 2021, because this coin is consistently among the top ones in terms of market capitalization, and its rate is growing steadily against the backdrop of not only a general bullish trend, but also the introduction of new ones. developments.
How to get Cardano through purchase
The fastest way to acquire ADA is to buy a coin using special services, for example:
- Cryptocurrency exchanges. Many platforms work with Cardano, including: Binance, EXMO, FTX, OKEx, Huobi, Cex.io, Kraken. If you plan to make a purchase using fiat, then keep in mind that almost all exchanges require identity verification for this. Otherwise, this is a fairly convenient and fast way, which also involves relatively small commissions. Often, commission costs can be further reduced by using exchange tokens (such as BNB from Binance) and increasing trading volume.
- Exchangers. Without verification, you can quickly purchase Cardano for fiat money, cryptocurrencies or stablecoins through exchangers. Examples of sites that support this currency are Cosmochanger, MChange, ExchangeKey, NiceChange, Baksman, Kursov24, AbcObmen. All of them support a wide range of payment methods: purchase with bank cards, Qiwi, Yumani, Payeer, AdvCash and many others is available. Some exchangers even support cash purchases, in which case you will need to visit the company’s office.
- Telegram bots. Many exchangers (for example, NiceChange, AbcObmen) also support the exchange via bots in Telegram. Just write to the bot through the messenger, select the currency of payment, receipt, create an application. Then it remains to pay for it and receive a return transfer from the exchanger. Be careful when adding bots so as not to get caught in the network of scammers making bots with similar names.
- Wallets. It is possible to directly purchase ADA from a card through cryptocurrency wallets, for example, Atomic Wallet. However, it is not always possible to use ruble cards for this purpose, more often dollar cards are supported. The commission is higher than in exchanges or exchangers, on average 5%. But this method is one of the fastest and most convenient.
Cardano Staking (ADA)
ADA can be earned by staking, earning passive income from your savings. While some networks require assets to be locked for a fixed period when staking, Cardano is simpler, you can deposit and withdraw assets at any time. During the ADA staking process, you support the network by helping it to operate steadily and receive tokens as a reward.
You can steak Cardano using the official Daedalus wallet or third-party wallets Atomic, Exodus, etc. Features of the process:
- Minimum stake from 5 to 10 ADA (depending on the wallet)
- Additionally, a certain amount is charged by the wallet (for example, from Exodus 2 ADA) for registering an address. If you exit staking, this amount is refunded.
- You cannot put part of the funds from the address, because the whole address is put. Therefore, it is necessary to transfer the required number of coins to the new address in advance.
- Rewards are distributed every 5 days (“epoch”). But beyond that, the wallet may require up to 20 days of waiting time for approval.
The address where you can see the cycles of all eras: https://cardanoscan.io/epochs
Instructions for staking Cardano (ADA) via native Daedalus wallet:
- Download Daedalus from the official site.
- Select the desired number and date format, wait for the node to synchronize (this can take up to two hours).
- If you have not created a wallet before, then select the “Create” item from the “Add wallet” section. Write down and then enter the generated recovery phrase.
- Come up with a name and password for the wallet.
- Fund your account with at least 10 ADA.
- Select Delegation Center on the left side of the screen.
- Select the desired wallet and click the Delegate button.
- Choose the right staking pool.
- Confirm delegation and enter password.
Done – you have staked your ADA tokens and will receive passive income from them. The profit will begin to flow in five days, and thereafter after each five-day epoch. The remaining time of the current epoch can always be viewed in the Delegation Center.
If you created the wallet before July 29, 2020, then it belongs to the Byron era of the Cardano blockchain, when staking was not supported. To start staking, you will need to transfer funds to a wallet created already in the Shelley era. You can find out which wallet you have by the length of the recovery phrase. 12 words – Byron. 15 or 24 words – Shelley. 27 words – Byron on paper.
Earning Cardano (ADA) on faucets
Crypto faucets, which are free cryptocurrency giveaways, are also available to receive a small amount of Cardano. At the moment, the following taps are working with this coin:
To earn ADA using faucets, you need to visit sites at a certain time interval and collect rewards by solving captchas or watching ads. Upon reaching the minimum amount on the account, you can withdraw cryptocurrency to any wallet, or you can set up automatic payments.
Where to store Cardano
The official Daedalus wallet, which we described in the staking section, can act as a secure storage for Cardano’s cryptocurrency (ADA). In addition, you can use third-party wallets:
In addition, you can use the accounts of centralized cryptocurrency exchanges to store cryptocurrency.
You can get or earn Cardano (ADA) through purchases, staking, or faucets – the choice of method depends on your initial goals and capabilities. In terms of investments, Cardano is now showing itself to be a promising asset, but it all depends on how popular this blockchain will be for the development and use of decentralized applications, including DeFi. With rivals like Ethereum and Binance Smart Chain, it is difficult to reclaim some of the market, but users are gradually appreciating the benefits of alternative chains.