The crypto market is on its peak performance since the beginning of 2022. On average, most cryptocurrencies increased by more than 15% in the past week. However, there are overperformers that gained as much as 50% such as Ethereum and MATIC. Cardano is known to be a lagger in the crypto sphere, as its prices moved with the crypto’s average 15%. However, if the market continues to be bullish, we might see Cardano price reach 1 $ or even higher. Is it good to buy ADA at the current 50 cents price?
What is Cardano ADA?
Cardano is a blockchain network characterized by a combination of scalability, security, and decentralization. The blockchain uses the modern Proof-of-Stake consensus mechanism. The Cardano blockchain is one of the most technically mature blockchains on the market.
Cardano’s native token is the ADA. Cardano is characterized by the fact that its development is long-term and takes place according to evidence-based standards. The Cardano Foundation is working with scientists on this. They analyze weaknesses of other blockchains and implement optimal solutions for their own blockchain.
Is Cardano Price BULLISH Again?
It is no surprise that ADA prices were heavily bearish since the start of 2022. This is due to the fact that the entire market was in a severe selloff. Most cryptocurrencies lost as much as 80% in their value. In the case of ADA, it lost around 86% when it reached its bottom of around $0.40.
Looking today at the chart of ADA, we can see how prices are starting to pick up again after an extensive downtrend. However, this upward trajectory is very “shy”. ADA did not properly recover and turn its trend upwards. Most analysts that are talking about Cardano being “bullish” are taking into account the general rise of Ethereum and MATIC, and projecting that ADA prices should follow soon. Another hint would be that ADA prices stopped falling below the strong support of $0.40 as seen in figure 1 below.
Cardano Price Prediction – Will Cardano reach 1 $ again soon?
For Cardano price to reach 1$, we need to see a break in the downtrend line. In figure 2 below, the blue downtrend shows how ADA prices were repeatedly falling after hitting the line (with occasional fakeouts that lasted less than 1 day). Once Cardano starts to increase in prices, we should see the target of $0.80 reached. If that happens, the next target of 1$ should not be far-fetched.
How to Buy Cardano on Binance
What is Binance?
Binance is the world’s largest cryptocurrency trading platform. The crypto exchange is comparatively young and was only founded in 2017. The founder is the Chinese-Canadian businessman Changpeng Zhao. The platform was originally based in China before the platform relocated to Malta due to increasing bans.
Binance benefited tremendously from the 2017 bull market and quickly became one of the most widely used cryptocurrency trading platforms. Binance is now by far the largest crypto exchange in the world. Over 200 cryptocurrencies can be traded on Binance. Furthermore, Binance offers various functions within the crypto market:
- Staking
- Farming
- Binance Futures
- Margin trading
- Binance NFTs
What are the benefits of buying Cardano on Binance?
Cardano (ADA) is one of the most popular cryptocurrencies on the market. It is a coin whose market cap has been in the top 10 cryptocurrencies for years. Cardano’s ADA token can therefore be purchased on numerous platforms. But buying on Binance offers some advantages for investors:
- World’s largest platform: extremely good reputation
- High security standards on the platform
- Relatively simple account creation process
- Easy usability of the platform
- Numerous additional functions such as staking
Especially as a beginner (but also as an advanced investor), Binance offers an excellent platform on which you can purchase Cardano in 2022.
How to Buy Cardano on Binance?
Below we would like to outline the process of how you can purchase Cardano on the Binance platform.
When you purchase a cryptocurrency like Cardano (ADA) from Binance, you must first create an account with Binance.
Go here on Binance. From there, you can create an account with Binance using your email address or your phone number. Go to “Sign up with phone or email”.
The registration process consists of 4 steps .
After you have completed registering with Binance, you will need to verify your identity with the platform.
Verification includes providing your name , address and professional status .
Your ID will then be verified using the IDNow service.
If you already have an account or if you have completed the 2 previous steps. To do this, go to Binance and click on “Login”.
At the end of the process, you will land on the Binance dashboard.
If you are now on your Binance account, you can now finally buy your ADA tokens from Cardano. The easiest way to do this is to buy the cryptocurrency directly with FIAT currencies.
To do this, go to the “Buy Crypto” tab . From there, select Credit/Debit Card . Then you get to the buying process.
Now select your FIAT currency (e.g. the euro) and select the ADA as the cryptocurrency to buy. Then complete the transaction.
Alternatively, you can send FIAT currency to Binance via bank transfer and then later exchange it for ADA.
