Best Cardano Wallets: Where to store ADA in 2022?
When it comes to cryptocurrencies, most of us tend to keep our holdings in online wallets. This is because online wallets are the easiest way to store your digital assets and make payments with them. However, this kind of storage has its limitations. Keeping your crypto assets in an online wallet means that you can only use that wallet with the digital device that you have right now. That is why many users are now starting to shift their crypto holdings into cold storage instead. In this cryptocurrency overview, we’ll be talking about the best Cardano wallets that you can use to safely store your ADA coins in the future.
What is the Best Cardano Wallet?
Cardano is a decentralized public blockchain and cryptocurrency project launched in 2017. It’s designed to partner with financial institutions and corporates to bring more advanced features to the blockchain. The most interesting thing about ADA is that it’s one of the first cryptocurrencies to implement the Cardano protocol. Cardano wallets are software programs that allow users to store their cryptocurrency offline (until they decide to buy cryptocurrency or exchange cryptocurrency), making it more secure than online wallets. There are a variety of wallets for different cryptocurrencies, and it’s essential to choose the right one for you.
1.Exodus cold wallet — Best for beginners
If you’re just starting to dive into the world of cryptocurrencies, then you’ll need a wallet that’s simple to use and allows you to store a small amount of ADA. The most convenient option for beginners is to use the Exodus wallet. This wallet was developed by the same team that created the world’s first cryptocurrency exchange, Mt. Gox.
Exodus is a multi-platform wallet that supports more than 30 different operating systems, including Windows, Mac, and Linux. Furthermore, this wallet doesn’t require you to download the entire blockchain, which means that you’ll be able to store a large amount of ADA with very limited storage space. To add new funds to your wallet, you’ll need to export your private keys first, which can be done on a paper wallet. But, if you want to quickly access your wallet to exchange ADA at Changelly, you can simply use your Exodus wallet via the Blockchain desktop app.
2.Jaxx wallet — Excellent multi-asset wallet
Jaxx is a popular multi-asset wallet that supports the storage of over 100 different cryptocurrencies. It’s currently the most popular option for storing ADA and offers a few useful features that make it stand out from the crowd.
Jaxx was the first wallet to support storing your private keys on a blockchain. This means that you’ll be able to access your funds from any device that you have. It also means that you won’t have to rely on your computer or phone. One of the best things about Jaxx is that it’s a cross-chain wallet that allows you to seamlessly move your funds between blockchains.
3.Trezor Wallet — A highly secure option
If you’re going to buy Cardano (ADA) and looking for the safest option for storing your ADA coins, then the Trezor wallet is the best choice. This wallet was created by the same team that created the super-popular cryptocurrency exchange, Cryptsy.
The Trezor wallet is a fully isolated environment that makes it nearly impossible for hackers to access your funds. It also comes with a cold storage option, which means that you can securely store your ADA coins offline. The wallet uses a one-time passcode that you can use to access your account anytime. This makes it highly secure, as it’s almost impossible for hackers to get your passcode.
4.BitShares x cold wallet — Secure and stable
To store your ADA in a fully decentralized way, you’ll need to first install the BitShares x cold wallet on your computer. The wallet allows you to store, send, and receive your ADA coins securely, while also offering a variety of secure options for backing your funds.
The boom of ADA can be attributed to several reasons. Firstly, Cardano’s technical capabilities as a decentralized blockchain — a feature that differentiates it from other digital currencies like Bitcoin and Ethereum. Secondly, the cryptocurrency is backed by one of the most prominent global institutions in research: The Cardano Foundation (CF). Founded in October 2017, CF is an independent, registered, not-for-profit organization that operates under the direct supervision of the USA/EN Wharton School of Business at the University of Pennsylvania to promote scientific research and education on technologies related to cryptocurrencies and blockchain.
These factors have established Cardano as one of the most promising cryptocurrencies out there. And when it comes to investing in cryptocurrencies, it’s crucial to choose the right wallet. This is because a good wallet allows you to safely store your coins, send and receive payments, and even manage your portfolio. There are different types of Cardano wallets, and we’ve reviewed the top four options above. Choose the wallet that best suits your needs.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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