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Anonymous

18 May 2021

Cryptocurrency

New to crypto currencies: is ADA a good choice?

I'm looking for an alternative to BTC and ETH. Price point for ADA looks promising for a beginner. Is this a recommended altcoin?

Discussion (1)

What are your thoughts?

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ADA is a good altcoin due to it's vision and fundamentals. It makes good use of smart contracts, allowing people to interact with the Cardano network without a third party. Cardano has also seen a ton of implementation in real life contexts, (google "Cardano Africa").
However I would also like to point out that price of a coin should have little impact on your investment decisions, as that should be based on fundamentals instead. With cryptocurrencies, you are also able to buy a minute fraction of a coin, meaning you could buy 0.001 worth of Bitcoin/Ethereum, without having to shell out thousands of dollars for a single coin.

With that being said, Ethereum and Bitcoin are still solid investments at the moment, especially with EIP 1559 around the corner for Ethereum. You can visit the respective subreddits for each cryptocurrency as there is often a multitude of answers and resources available there.

As always, do your own research, and never invest more than you can afford to lose. Cheers!

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