What is ADA?
ADA is the digital currency that that fuels the financial revolution. Anyone can own ADA and the innovational Cardano blockchain is fully functioning at the global level. ADA provides more security than Bitcoin and can move about 100 times faster – at a fraction of the cost. The best part about ADA is the reward program. Once you purchase ADA you can delegate your stake and start earning rewards right away. Cardano is readily available on multiple exchanges but my favorites are coinbase.com, crypto.com, and Binance.us. You can buy and sell ADA for fiat and/or other cryptocurrencies on most exchanges.
How to Stake ADA?
After you purchase the ADA, you will need to secure your investment. According to cardano.org, the best place to keep your ADA is in cryptocurrency wallet like Deadalus or Yoroi.
Deadalus is a full node wallet which means it requires downloading a copy of the blockchain. Stakeholders that take advantage of the Deadalus wallet are indirectly participating in transaction verification because holding an active wallet actually increases the speed and security of the network. With the Deadalus, you can manage as many wallet that you feel are required to fit your needs. The Deadalus wallet is supported on all desktop platforms including Windows, macOS, and Linux.
The Yoroi light wallet for Cardano. This wallet does not require one to download a copy of the blockchain. Some would say that the Yoroi wallet provides utility for day-to-day usage similar to the wallet that a person carries today. Adversely, the Deadalus Wallet is for long-term holdings like a super savings account.
After selecting a wallet, you can delegate your stake and start earning rewards for supporting the blockchain. Above, you can see the pattern of our earnings from owning ADA and maintaining a Yoroi wallet while delegating our stake. The stake pool that we selected provides rewards every five days and those rewards are additional coins. On the chart above, one can also see that as stakeholders we receive an average of 4.0 coins every five days. That’s not bad considering the value of ADA is holding strong around $1.10 – $1.20 USD and the assets huge potential with the Africa Movement.