How to buy Cardano

how to buy cardano Bitnovo
6 min read

What is Cardano

Cardano is the world’s first peer-reviewed blockchain. The creators of Cardano have a network of scientists and academics who, before a protocol is published, review them to the extent.

Cardano is the first to be based on peer-reviewed research and developed on evidence-based methods.

By combining first-class technologies, it manages to provide security and sustainability to applications, systems and decentralized societies, which with this it manages to redistribute the power of structures that do not comply with the margins.

Cardano is the home of the ADA cryptocurrency, which can be used to send and receive digital funds online. This digital cash, enabling fast and direct transfers that are very safe for the use of cryptography.

 This is a third-generation cryptocurrency and its platform are a smart contract whose goal is to improve the scaling of bitcoin and Ethereum

Where to buy cardano

Today it is very easy to buy any cryptocurrency online. There are two main ways to buy Cardano, either directly using a credit / debit card or with a bank transfer, or you can exchange it for other cryptocurrencies on different platforms that allow cryptocurrency trading.

Buying it directly with a fiat currency is the easiest way, but not all platforms have this ability since through the exchange you can lose a part due to the handling fees that the different platforms have

Cardano can be bought or sold in many markets or on its own page, one of these markets is Bitnovo and to buy it is quite easy. All you need to do is enter here and select how much you want to buy by entering the amount in euros you want to buy in this cryptocurrency, then select ADA that is found in a large number of other cryptocurrencies that you can also buy on our page and then you click the buy button.

Doing this will take you to another page where you will fill in some data that is to link your wallet where the cryptos will be deposited then you will have to enter your Tag payment, telephone and email. Followed by this you will have to select the payment method which you can select whether to pay in cryptocurrencies, credit / debit card or with a bank transfer, you have to solve a capatcha and press the button to continue and that’s it.

When your transaction is completed, the amount of cryptos you specified will be automatically sent to the wallet that you specified, if there is a problem, the communication channels you provided will be used, which would be your cell phone or email

how to buy cardano Bitnovo

How to stake Cardano

There are a few of things to consider when choosing a stake pool to delegate:

Low permanent fees and good performance – Maximizing rewards earned:

To maximize your rewards, you should choose a group with low rates. In these groups there are two types of tariff, one that is fixed and the other is by percentage

The normal percentage of stake commission for Cardano groups is 2% to 5%. You should also keep in mind that the group is trustworthy since many groups tend to change the fees and participation percentages right after they delegate their stake.

The minimum fee for a Cardano group to register on the network is 340 (ADA) for each block, the average fees for a Cardano stake pool are between 340 – 500 (ADA).

Normally these low rates are due to the fact that the group operator wants to help new and smaller users to receive a better reward, this shows the commitment of the pool owners to maintain maximum performance.

Stake pool saturation equilibrium:

A pool that is not so saturated should be chosen carefully. To enforce decentralization, the rewards for a number of users are limited by preventing groups from growing too large.

Stake pool performance:

To consider the performance of a pool, you have to know how to interpret the metrics since the one it shows can be incorrect

The yield percentage is calculated by dividing the number of blocks produced by a group by the number of times it was selected. Ideally, this would be 100%, which would mean that the group node would always be online and in sync with the network when its turn came. If the group has problems and becomes out of sync, it could lose its turn and therefore not generate a reward.

Also, a small group may be operating at full capacity, but having a performance of 0% this would happen because they are not on demand to produce a block.

The Cardano stake pool software is being updated frequently. What causes the software to be updated every week for both the group and the nodes a delay in this process and would cause the group to not be able to extract blocks and generate rewards.

Cardano stake pool rewards:

These earnings may vary depending on the amount of token that participate in the stakin

With the launch of Staking in July of 2020, there are about 14 billion ADA reserved as stake incentives for participants. Each epoch (5 days) the protocol distributes 0.3% of this total reserve pool between all active stakers. Therefore, rewards are being distributed every 5 days and compound automatically.