Mini Cardano: Everything you need to know

Source: CoinMarketCap

As of today, technology worldwide has advanced to an entirely different level. Everything is starting to go digital and people like it because of its ease of use. As a matter of fact, if you would have seen the scenario a few years ago, you would never have thought of something known as cryptocurrency, completely revolutionizing the entire payment system on the planet. Crypto is nothing but a form of virtual currency which can be used to earn significant profits by trading in online exchanges. These digital assets of yours can be easily stored in digital wallets and are very well capable of being used for buying and selling purposes. These currencies make use of blockchain technology and are claimed to be very secure, all thanks to something known as cryptography. 

Over the past few years, this online currency industry has gained a lot of attention and was able to lure in potential investors on an international level. The crypto industry has witnessed rapid growth lately and seeing that a lot of people are intrigued to invest in the crypto marketplace and earn profits. Also, one of the main reasons for this growth is the fact that it is very portable, easy to use, and has a user-interactive interface, which makes it even more appealing for first-time users especially. I believe the industry is just a gamble where the chances always are about fifty-fifty as, it is extremely risky to invest in any virtual currency because of the fact that the entire marketplace is very uncertain and highly volatile, thus resulting in rapid fluctuations in the prices of these currencies. 

The rates of currencies are so volatile that they can change their entire future course overnight. For instance, if today you invest in a digital currency, chances are that you can be much more richer overnight or lose all your money. Talking of currencies, many of you must already be aware of the fact that when the industry was first introduced, not many currencies were available but, seeing the current scenario there are several currencies today to choose from, resulting in giving users more options and increasing the competition in the marketplace. Talking of currencies, some of the popular virtual currencies to choose from including Dogecoin, Binance coin, Cardano, Baby Doge, and Bitcoin to name just a few. 

With us today, we have the latest addition to the lot, Mini Cardano which is based on a popular cryptocurrency, Cardano. Since it is based on Cardano, I believe it is better for you to have a basic understanding of Cardano first.

What is Cardano?

Source: Easy Crypto

Cardano or as often referred to as ADA is nothing but a Dapp development platform and a third-generation blockchain that is easily accessible to the general public. Being a third-generation virtual currency, they tend to learn and improve upon the limitations of the first and second generation of currencies. This technology is known to be highly secured and being open-sourced by achieving consensus using Proof-of-Stake. Wondering what is ADA? ADA is the native currency of the Cardano platform, with the help of which it is able to make smoother than ever peer-to-peer transactions. 

In addition to this, having introduced a decentralized cash system that is extremely secure, Bitcoin was the first generation of virtual currencies. Soon after Bitcoin was introduced, Ethereum came into the marketplace and was aimed at developing decentralized applications as a part of being a second-generation cryptocurrency.

Including a research plan based on peer-review in its core principles, Cardano claims to be the first blockchain platform to have attracted international media attention. As of today, ADA is said to be the most popular currency on a global level. Not just that, ADA being a fairly new currency is able to make use of new developments that have been done over the past few years including multi-layer layout, security as well as sustainability. Also, Cardano is mainly focused on the academic sector. 

It is a common fact that all virtual currencies have a certain lifetime supply that is limited. In the case of Cardano, as of today, we have over 32 billion ADA’s in circulation with a lifetime supply of 45 billion ADA’s. Furthermore, transaction speed has always been a concern in the crypto world, where Ethereum process fifteen transactions every second, Bitcoin processes five thus, increasing the cost of transactions and leading to higher fee and slow transaction scenario. However, in the case of Cardano, it uses a blockchain technology known as Hydra which processes an extraordinary figure of nearly a million transactions being processed every second. 

Now that you have a basic understanding of Cardano, let’s talk about the newest addition to the crypto world, Mini Cardano.

Everything to know about Mini Cardano(MADA)

Source: Cardano Feed

Following the footsteps of Baby BNB and Baby ETH, Mini Cardano can be referred to as the latest Baby token available in the marketplace which is based on the popular currency, Cardano as previously mentioned. It functions on the Binance Smart Chain, providing users with impressive features. For those of you wondering what is MADA? MADA is known to be the native currency of Mini Cardano like ADA is the local currency of Cardano. 

Mini Cardano is known to reward its holders by sending both ADA as well as BNB tokens to their wallets automatically every sixty minutes which means that, for the very first time in the history of cryptocurrencies, you don’t have to claim the ADA’s that you have earned and they will be sent to your digital wallet every six hours. Basically, in simpler words, it is a token that uses Cardano to reward its users and as a result, the users tend to earn more and more Cardano. 

The Mini Cardano platform has Anti Sniping, Anti Whale as well as Anti Bot smart contract design for keeping the user funds secure. Not just that, nine percent of every purchase and sale made is distributed amongst all the MADA holders. In simpler terms, if you hold MADA, you basically earn ADA but with a minimum of 1,000,000 tokens. Along with this, there is a three percent handling fee that is charged in order to ensure that the platform is able to support the marketing and the team in the future as well. 

As mentioned before, while you are holding MADA tokens, you earn ADA in return. If you feel like you want to view your earnings, you can keep track of what you have already earned so far as well as when is the next payout scheduled, from your dashboard. Moreover, as a matter of fact, everything is updated in real-time. About three percent of each purchase and sale made is put into the MADA lottery pool by converting it into ADA. Every time they hit 5000, a random lottery will be done!

As per reports, the value of Mini Cardano(MADA) has gone up by nearly five hundred percent after its launch on CoinMarketCap on 1st September this year, creating an all-time high a day later, just after its unofficial older brother, Cardano’s value went uphill to more than three dollars. According to the CoinMarketCap leaderboard, the token is presently claimed to be the biggest gainer in the marketplace. 

Along with rewards being given to the users, Mini Cardano combines this with an innovative feature of auto-liquidity that rapidly increases the token’s liquidity. Not just that, Mini Cardano has a huge burn on a scale that is rarely seen in any other token on the market. As mentioned, ADA rewards are allocated automatically but due to some reason, if you are not able to see your rewards in your wallet, it may be because of the fact that the ADA allocation is less if compared to the cost of gas, it might be that, you don’t have a minimum of a million MADA or the fact that distribution hasn’t been processed yet. 

Investing in Mini Cardano

Source: Nomics

As of today, the price of Mini Cardano is 0.000030 US dollars with a twenty-four-hour trading volume of 212,710 US dollars. In just the past twenty-four hours, the price of the currency has gone up by nearly 83.34 percent. Unfortunately, the market cap of Mini Cardano is not yet available but it is placed on #3353 position in the CoinMarketCap rankings. Also, the current circulating supply of the currency is not available but the total lifetime supply is 100,000,000,000 MADA coins. In just a week’s time, the currency has gone uphill by about 270.73 percent. As of today, the platform is below its all-time high of ₹1,360,069.53 which is equivalent to 18,494.75 US dollars by about a hundred percent.

Talking about investing in Mini Cardano, I believe that Mini Cardano is a great investment for a short-term period. The coin has surged in value by nearly 500 percent since it was listed on CoinMarketCap by coinciding with the astonishing increase of Cardano(ADA) to an all-time high of more than three dollars. Also, the coin is also a great investment for those who are looking to invest in order to gain some crypto-denominated passive income. Also, as a matter of fact, the claims of ADA and BNB rewards definitely increase the chance of MADA being a worthwhile investment. 

Reading so far, you might have gotten a fair understanding of Mini Cardano and by now you will be able to figure out whether or not you should invest or not. For some of you wondering where can you buy MADA? Let me help you with that. You can buy MADA from several crypto exchanges and with the help of different brokers. One of the exchanges that have MADA listed is PancakeSwap. 

In conclusion, I believe that Mini Cardano is worth the investment if you are thinking of investing for a short-term period and its prices are likely to go up in the near future. Also, it is important for you to understand the fact that investing in virtual currencies is highly risky and you should invest only if you are willing to take those risks. It is advised that you should avoid investing more than what you can afford to lose. 

What are your thoughts on Mini Cardano? Do let us know in the comments below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: NEAR Protocol: Everything you need to know