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RE: Crypto currency exchange is easier than online banking!
Cool. I'm interested in why you're interested in Cardano. Maybe you can elaborate at some point?
Cool. I'm interested in why you're interested in Cardano. Maybe you can elaborate at some point?
Good question :)
I see cryptos as currencies first. As you've probably heard me say, I'm not an investor, and I actively avoid investing because I see it as harmful to others. I avoid it so much, that I predicted bitcoin would go from 1 cent to 1 million dollars (2011), but didn't get any, and watched it rise to $4000 (2017) before I accepted a fraction from some viewers who had made it big after hearing about bitcoin from me. I only accepted some bitcoin, after being offered stacks of it for years, so that I could finally use it as a currency. I used it to buy and sell things, and accept a few more fractional tips, before buying into my Steem stack a year ago. Now Steem is my daily use currency, but I see Cardano (ADA) as being another very valid and useful crypto.
Specifically why Cardano? What I know of it is that it was designed by engineers using the scientific method to guide decisions. I think that's pretty cool already. I know it's not a bankster coin like XRP (ripple), and it has some notable privacy advantages. They're working on upgrading the payment system so it can be scaled up for use by the entire world's population. Now I have a few bucks worth to play around with. Learn how the Cardano wallet (Daedalus) works, pay some people, get paid by some people. I know a few other people who use it regularly.
Another crypto I was considering was Litecoin. They're also doing a lot of good upgrading, and I see it kind of like the silver of cryptos. Bitcoin is kind of like gold - slower moving, better to own during downcycles.
If I was an investor, I'd be upset I didn't just hold my .2 btc through this correction, and just sit on the sidelines of Steem, watching the posts go by for the past year and a half. If I had done that, I could buy into Steem with my .2 bitcoin right now - 2200 Steem, almost double what I've worked full-time to earn. Ouch!
But I'm not an investor. I needed the Steem as currency, so I could buy my Steemit accounts and pay for my posts/comments. I didn't buy Steem with Bitcoin as an investment move. Since I'm not allowed in the traditional banking system anymore, cryptos are one way I can still buy, sell, save, etc.
Now, I bought some ADA with Steem.
It's a bit like owning some USD and some CAD. Both are spendable here in Vancouver, each has pros and cons, and their value fluctuates.
Also, I want to mention I used Steem to buy the ADA with, not because I don't like Steem (Gresham's Law), but because I currently have nothing else in the crypto world to pay with! It's like only having American Express, and going around everywhere asking "do you accept American Express?" Now I have a second currency, and out of the top 20 or so, ADA struck me as best.
I know that you already know the value of diversification, and this is kind of diversification.
Thanks for asking!