Did you miss the Bitcoin train? Here is the next big cryptocurrency hit!

Did you miss the Bitcoin train? Here is the next big cryptocurrency hit!

So you missed the Bitcoin train and you’re wondering which coin will produce the next cryptocurrency millionaires? I believe this is one of them, here it is along with how to buy it.

The next big cryptocurrency hit?

Many believe that the next big cryptocurrency hit will be Cardano and Ethereum. The price of Ethereum has already spiked beyond the point where small investments can yield epic turnarounds similar to that of Bitcoin. A few years ago, a Bitcoin only cost a couple of cents.

Not that it isn’t still possible to make money from Bitcoin and Ethereum. It is a very lucrative investment, however your investment needs to be substantially larger in order to see returns at this stage in the game. Should Cardano someday meet the current value of Bitcoin, (granted this could take a few years) had you invested now, a few dollars investment would be worth millions.

The graphs speak for themselves with investors tripling their investments yesterday alone.

This is a screenshot taken from the coinmarketcap.com website. This is happening right now! Go see for yourself.

What is Cardano?

Similar to Bitcoin, Cardano is a cryptocurrency project that is open source and promises to deliver more advanced features than any previously developed protocol.

The cryptocurrency, known by their symbol: ADA, endeavours to represent the future of money, delivering expeditious digital funds.

How do we know for sure?

No one really knows for sure how these things will end up. But when attempting to predict the next big thing, it’s always good to have some background. Coins that are open source and well supported tend to do well over time.

Cryptocurrencies are not controlled like other currencies and are thus highly volatile. This makes their growth potential far greater than printed currencies, which tend to be at the mercy of political influence. (I sometimes wonder out loud about how this is probably why they are doing so well.)

 

Cardano coins are still inexpensive. Coingecko.com places them (this morning) at $0.1386 to one coin as of this morning. Should Cardano reach Bitcoin proportions within a few years, imagine how much your few cents investment would be worth.

Cardano VS USD

Feeling unsure about cryptocurrency?

I think with all new things, there is an inherent resistance. Change is inevitable and waits for no one. Risk and reward go hand in hand and at a later stage you’ll end up bending to popular trends and will have had to absorb the change  but without securing the benefits.

Those that invested in Bitcoin in the early days, faced ridicule, only to reap the rewards now.

Old Mutual invested in Bitcoin recently, which accounts for the recent price peak. If Old Mutual, an international company with more than 19 million South African customers alone and £394.9 billion assets under management as of 31 December 2016, sees fit to invest in cryptocurrency, I think it’s fair to assume they have done their homework.

When I invest in “unknowns” I tend to write off that money in my mind. It it what it is, a low risk is still ultimately a risk at the end of the day.

How did I buy my Cardano coins?

I first bought some Bitcoin and Ethereum using the Luno app. This was a really easy way to get money from my bank account into cryptocurrency form which could then be transferred across to other platforms to buy other currencies.

I’d appreciate it if you used my referral link: Sign up for Luno and get ZAR 10.00 worth of Bitcoin when you buy or sell ZAR 500.00 (exchange excluded), using https://www.luno.com/invite/2YS9Y

Once I had confirmed my email with them I clicked on the “DEPOSIT MONEY” button.

I then entered the amount that I wished to transfer here and it provided me with a reference and bank account details that I could transfer my money into.

I then logged into my regular banking application and made the tranfer using the reference provided to me by the application. It took 24 hours for the funds to reflect in my Luno account.

I then purchased some Ethereum and Bitcoin. You will need it to transfer to Bittrex to purchase Cardano.

Ethereum is currently much cheaper to transfer. Bitcoin bank charges have become outrageous which is why I predict a fall for the mighty currency.

Why the transfer?

Cardano is still relatively new and isn’t yet readily available on all trading applications. It does promise to become a main player in the near future, meaning that this step can one day be skipped altogether.

Visit Bittrex and create a login. Bittrex is currently only available via browsers and is best viewed, in my opinion, on desktop. Be wary of phishing sites that look similar that exist for the pure purpose of extracting your credentials. Always make sure that you are at the correct address: https://bittrex.com.

Bittrex is a little difficult to navigate so I’ll provide some pics along the way to help you along.

Click on “WALLET”.

Currencies in Bittrex

Click on the + Button on Bitcoin.

Generate an Address and / or a QR code. I’ve removed my address and edited my QR code so that no one can accidentally deposit money to me. Haha. Wouldn’t that be nice.

QR Code

NOTE: Just a side note, all of these applications take a portion of your money as a commission. Be sure to read their fees sections to make sure you don’t get any nasty surprises. 

Login to your Luno app and click on the “SEND” button.

Here you will be able to scan the QR code or enter the address generated by Bittrex. Be sure not to make any mistakes if you use the address. There are no guarantees that you will ever see that money again.

This money take some time to reflect in Bittrex. It once took me 20 minutes hitting the refresh button on my “WALLETS” screen.

Once your money has reflected, hit the BITTREX logo on the top right hand side of the screen. You are now inside the Bitcoin Market.

Bitcoin Market

Click on the BTC – ADA blue link under the MARKET header.

I always find this last step a bit daunting. It does get easier, I promise.

Trading

Go to the TRADING tab. Here you will enter how much you want to spend in Bitcoin under BTC. Then enter how many much you want to bid at the top under ADA.

When you want to buy, Hit + BUY ADA.

How do I know how much to pay for ADA?

Take a look at the order book. If you want to guarantee that your order is bought, bid higher. In this example, you would enter 0.00001311 into the ADA column. You can bid lower, but this means that you will need to wait for the price to drop before the application will make your purchase. Prices below will not reflect the actual value of the coin, but are prices that people are selling them for.

For the actual price of currencies, take a look at Coingecko.com.

Order Book

There you have it. How to buy Cardano coins made easy with pictures.

If Bittrex isn’t for you, another safe way to trade is through Binance. Go now.

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