Frequently asked questions
Cardano is a blockchain-based system that can be used for financial transactions, smart contracts, and distributed computing. Read our guide on Cardano to learn more about this cryptocurrency.
ADA is the token and unit of account on the Cardano network, similarly to pounds being the units of account of the British pound sterling (GBP).
Investors are interested in its scientific origins and this will propel the technology, and its wider adoption. At the outset, rather than publishing a white paper, Cardano’s founders adopted a collection of design principles and engineering best practices.
As with every investment, Cardano’s Ada offers potential rewards but there are obvious risks involved whenever you trade crypto. All investors should keep an eye on the market and, if unsure of their actions, take advice from financial experts before putting their money at risk.
The price of Cardano, or more precisely the ADA token, is a market price made up of supply and demand. If more people want to buy ADA than sell it, the price will rise. Conversely, if there are more sellers than buyers, Cardano's price will fall.
Using a digital wallet is the best way to store Ada. There are a number of different recommended wallets, such as the full-node wallet, Daedalus, or browser-based Yoroi. The wallet you choose depends on whether you want to make quick trades or save Ada on a long-term basis. It is recommended that any digital currency is stored in a wallet for security rather than kept on an exchange for an indefinite period of time.
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