People are having big headaches when it comes to trading these days.
Specifically when it comes to trading on Ethereum DEXs like Uniswap or bitswapdex.io.
These gas fees are eating up their portfolios.
And smaller traders are having their lives made miserable.
Crypto is not supposed to be a world of the haves versus the have-nots.
It's supposed to be more fair than that so everyone gets a chance.
This glaring Ethereum weakness has opened up the door wider for the likes of Cardano,
Binance Smart Chain, DOT and Elrond.
Today, we're going to take a look at why Cardano is poised to be the No. 1 competitor,
and I'm also going to do a special segment at the end where I show you guys how and where to buy ADA.
Let's get it!
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Welcome to BitBoy Crypto! The largest crypto channel in all the Interwebs.
My name is Ben.
Everyday on this channel, I show you how to make money in cryptocurrency.
If you like money and crypto, then make sure to hit that subscribe button.
Smash up the likes if you like Cardano and enjoy short tutorials at the end of videos.
In this video, we're going to take a look at why ADA is the future both short term and long term.
At the end, I'm going to give you four places where you can buy ADA.
Let's start with the short term.
The month of February has been insane for Cardano holders
as it's seeing its price head back to the $1 resistance area.
But it's yet to soar above it.
In fact, it was rejected quite hard and dropped from 96¢ back all the way to below 85¢.
But here's a word of caution.
This week could be your last week ever to get ADA under a dollar.
I know. I'm even kicking myself for not adding more.
If you remember, Charles Hoskinson made a tweet a couple of weeks ago
teasing that February would be a great month for ADA.
He said some little birdies told him something huge was coming.
Later, he would clarify this saying it was some sort of liquidity event.
Now, if you're newer to the world of investing and/or crypto,
a liquidity event means there's going to be an event that will trigger the ability to buy or sell an asset more easily.
Recently, it was announced there would be a huge government contract facilitated by IOHK in Africa,
which, of course, IOHK is the tech company behind Cardano.
Now, while this Africa news is huge,
this likely is not the event Charles has been referring to,
but did certainly factor into the Cardano hype train this month.
And don't worry there's still more to come.
The liquidity event to come could only mean a few things in my opinion.
This is a large exchange listing, a new pair listing, a Grayscale Trust,
or a totally out of the box fiat on-ramp for Cardano.
So let's break these down.
When it comes to an exchange listing, there's pretty much only one thing this could mean---
Coinbase.
ADA is already on the largest exchange, Binance, and its US subsidiary, Binance.US.
Other than Coinbase, there's no other exchange right now that Cardano could get listed on
that would make waves.
Charles is either the greatest crypto thespian in our time,
or he really does not know ADA's status with Coinbase.
So I think while this would be the most exciting option,
I doubt that's happening this month.
A new pair listing could certainly be in the cards though.
On Binance.US, there's only a BTC pair.
This means to buy ADA on Binance.US, you have to go through Bitcoin.
Adding a USDT or USD pair for Binance US would certainly bring more liquidity
and ensure people can go directly from fiat into ADA.
Big deal.
Of course, we recently saw the filing of a new Grayscale Trust LLC take place in Delaware,
the home of tax-friendly companies.
LOLz at the irony.
But I digress.
Once again though, on my show, Charles did not seem to be sure about this one,
unless he's the crypto version of Leonardo DiCaprio,
which kind of makes sense because right now Cardano is playing a game of catch-me-if-you-can with ETH.
But while I do believe an ADA Grayscale Trust will happen,
I don't believe it will happen soon.
The last option is an out-of-the-box fiat on-ramp where people can be able to buy Cardano directly.
It could be directly through their website or a third-party app like PayPal or Cash App.
Now, it may sound crazy,
but who could have ever thought you would buy Bitcoin through Cash App?
When that happened, it was out of the blue.
But let me know if you think it is something else.
Make sure to drop those comments down below.
Maybe I'm missing something.
Whatever it is, it's definitely something big.
There's no way Charles would be pamping something this hard
if it wasn't going to be something absolutely huge.
I expect Cardano to be well above $1 by the end of February, if not $2.
That is just the short term though.
Over the long term, I expect Cardano to peak at about $8 in 2021.
And I've said many times that if Ethereum has any issues following its full ETH 2.0 rollout,
which might be likely,
Cardano could be able to top it in the next bull run.
We're having a true battle royale between the likes of Ethereum,
Cardano, Polkadot, Elrond, Tezos, Cosmos,
and now, Avalanche, a new competitor,
but I think we've been looking at the whole thing wrong for a long time.
These are not ecosystems that will play a zero-sum game.
Now, let me make an early internet comparison here.
These ecosystems are kind of like Google versus America Online
versus Yahoo versus several other competitors.
In the early days, it wasn't always apparent that Google would become the dominant force.
In fact, it wasn't even around when Yahoo and America Online were dominant.
Early on, several companies competed for the dominance of the internet.
Some companies merged, changed, went out of business,
while others were birthed and flourished.
Those at the outset of the internet had an advantage,
but over many years, it became apparent that Google was the winner.
Just because Ethereum was first doesn't mean it will be No. 1 forever.
We need several years of competition and full exposure to decide which platform truly is best.
And we aren't close to that.
Also, we don't have to have a world where one blockchain rules them all,
like Google does the internet.
Our kind and merciful YouTube overlords,
spare me, masters.
Cardano has just as good of a chance as any to be a major player in the space in the future.
For a long time, I said the only 100% long-term holds were Bitcoin and Ethereum.
I'm now prepared to say ADA is in fact a 100% long-term hold.
So let's jump into where and how to buy Cardano.
Okay, so you've decided that you want to buy Cardano also known as ADA.
Now, it's a great decision. I'm going to go ahead and tell you that first thing right off the rip.
But how do you do it? Where do you go?
Especially if you're a United States citizen, you might run into some problems.
So what you're going to do is you're going to come here to coinmarketcap.com.
Now, when you're on here, you're going to click on the coin you want,
in this case, Cardano.
Pushing 90¢ here at the second.
Now this is probably what you're used to seeing when you come here to CoinMarketCap.
You see the chart.
You see the data at the top.
But what we want to do is we want to scroll down a little bit to the market section.
Right now, it is on these spot markets,
but you're going to want to click "See All Markets".
And here, you can see every place and every pair that is trading Cardano.
Now, you see No. 1 is Binance, which we're going to talk in about in just a second,
but then if you scroll down, you can see KuCoin,
Bitrue,
a lot of different places that you can buy this.
This is what I'll tell you.
I will tell you that between the two sites I'm about to give you,
you can definitely buy ADA as an American citizen.
So what you're going to want to do,
you're going to come over here to bitboycrypto.com/deals.
We just redid it. I did it myself, guys.
Double pat on the back for that.
So you're going to scroll down here and you're going to go to EXCHANGES.
Okay?
You're going to open Binance US.
Now, if you're not an American citizen and you just want to use regular Binance,
you can click right here if you're international and you can go here to Binance
and you can create an account.
It's very easy to do and, you know, as a person that can use Binance,
you're going to get access to a lot of great deals.
However, in United States, we have different regulations.
So what you're going to want to do is you're going to want to open Binance.US
or KuCoin.
Now, right here, with Coinbase or Coinbase Pro,
you cannot buy or sell ADA.
So you're going to have to use either Binance US or KuCoin.
So here we go.
We are on the Binance.US website.
All you've got to do is click "Get Started".
You'll be able to sign in right here, create an account,
very easy to do once you get on here.
The one thing about Binance US is that when it comes to Cardano, they only have a Bitcoin pair.
So what this means is you are going to have to buy Bitcoin on let's say Coinbase,
you can do that by using our link right here,
buy Bitcoin and then send it in to Binance.US,
and you will be able to trade Cardano for Bitcoin.
Very easy to do.
Now, here's the other site.
KuCoin
Now, I love KuCoin. It's got a lot of low cap gems on here.
But the thing about KuCoin is there's no KYC.
It's kind of like the trading site of the people. You know what I mean?
And all you've got to do here is just create an account.
Go over here to "Sign Up",
create an account and then you can go here to "Trade",
you can see everything that's tradable on their spot trading page.
You guys can see a lot of different pairs that they've got.
Once you're here on the KuCoin page, all you go is to click here,
and then you just look for your pair.
So we're going to look for ADA.
And they have three different pairs.
You can trade with USDC, which is the Coinbase dollar,
USDT, which is Tether,
or, just like Binance.US, Bitcoin.
So between one of these sites, you're going to be able to buy Cardano.
I know a lot of people have a lot of questions because your state may not be approved
for Binance.US.
If your state's not approved for Binance.US, then just use KuCoin and boom!
Problem solved.
So alright, guys. Let me know, what do you think about Cardano?
Drop down below your comments and thoughts on this video.
That's all I got.
Be blessed.
BitBoy out.