10 Best Cryptocurrencies to Buy for Beginner Traders According To Reddit

7. Cardano ADA

Market Cap: $31.27 Billion

Value as of December 27: $0.8737

Cardano’s native cryptocurrency, ADA, operates on a proof-of-stake blockchain, offering a greener alternative to Bitcoin’s energy-intensive proof-of-work system. Launched in 2017, ADA can be used for transactions, staking, and participating in governance within the Cardano ecosystem. It is named after Ada Lovelace, with one ADA equaling one million Lovelaces.

Cardano is a decentralized blockchain platform that uses the proof-of-stake protocol for consensus. Cardano’s design is focused on overcoming the scalability and security issues seen in other cryptocurrencies. ADA is used for staking, where holders can delegate tokens to help validate transactions and earn rewards. The currency’s value has been impacted by legal challenges, such as the SEC’s scrutiny over its classification as a security. Cardano’s ADA remains a significant cryptocurrency in the market, with applications in various sectors, including education, finance, and supply chain management.