ADA Altcoin Increasingly Catching up to BCH – Should You Invest?

As the cryptocurrency market constantly improves, new altcoins continue to emerge and climb the ladder of popular and profitable currencies. This is why a cryptocurrency that seems like a good investment today might not seem that way the next day.

An example of this is Bitcoin Cash (BCH), which had been dominating the market until very recently when powerful altcoins like Cardano (ADA) emerged. With the increasing value and popularity of ADA, many investors are wondering whether it’s a good investment choice.

• What Makes Cardano Stand Out
• Why ADA Is Doing Better than BCH
• Should You Trade BCH for ADA Now?
• How to Trade BCH for ADA
• Invest in ADA Today

What Makes Cardano Stand Out?

Cardano is an altcoin that emerged in 2017. The currency is decentralized and based on an open-source blockchain system that allows for peer-to-peer trading. Its structure enables smart contracts, and it is often referred to as a third-generation cryptocurrency.

ADA is the first peer-reviewed cryptocurrency — it easily adapts and offers excellent security features too. Another feature that allows it to stand out is the fact that it cannot be mined.

Why ADA Is Doing Better than BCH

In just four years, ADA has already become one of the top ten largest coins, sitting in sixth place. The price recently increased by nearly 92% for two main reasons:

• For one, investors are expecting to see the pending updates in this cryptocurrency and blockchain system, as well as the deployment of smart contracts in 2021.
• The second reason is the influence of BTC. Like many other altcoins, ADA follows the price movement of BTC. So, as Bitcoin is increasing favorably, ADA is doing the same.

Should You Trade BCH for ADA Now?

If you have some Bitcoin Cash coins, you’re probably wondering if it’s a good idea to trade Cardano coins for them.

BCH has advantages that make it one of the biggest cryptocurrencies, such as a faster speed than BTC – a primary factor when comparing Bitcoin Cash to Bitcoin. It also has lower fees and can handle more transactions in a block.

But with ADA, you get an even quicker processing time, designed to be used with smart contract technology, and it has a unique double blockchain layer that leads to less congestion and fewer transaction fees.

As cryptocurrencies like ADA continue to rapidly develop, they expectedly will do much more than BCH and even appear more practical for use by investors.

How to Trade BCH for ADA

If you decide to convert your BCH to ADA, you can get started with trusted platforms that offer a wide range of cryptocurrencies. Godex is one such exchange that offers fast transactions and no sign-up process.

• Choose Your Currency. Select BCH as the currency you’re sending and ADA as the one you will receive. The calculator automatically tells you how much ADA you will get.
• Enter Wallet Address. Input your ADA wallet address into Godex. If you don’t have one, get one before moving to convert the cryptocurrencies. Godex will transfer the newly transformed ADA coins to that address.
• Wait for the Deposit. Deposit the amount of BCH you want to convert to your wallet and wait for it to be confirmed.
• It can take up to 30 minutes (but in most cases will be less) for your cryptocurrencies to be exchanged.

Invest in ADA Today

From the data we have compiled above, it’s easy to conclude that ADA is a very good investment for all crypto traders. Its advancements and more put it ahead of many altcoins, including BCH. It’s a brilliant idea if you decide to buy ADA today. Ensure you do so with a reliable platform, such as the one mentioned above.

Should I Buy Ethereum now? There are several reasons why you should buy into the new protocol called “Ethereum”. It’s a completely new network that has nothing to do with ether and everything to do with distributed ledger technology. If you have an investment or some funds in the place where this technology is applied, then you should be ready for the future because it’s going to grow substantially in the upcoming years.