We'll be reviewing our porfolio in this post, but first I wanted to do a quick review on one of our solid holds in the portfolio, which is Cardano.
Cardano (ADA) is an open source blockchain and currency, which implements some enhancements on Ethereum. That is why sometimes it is referred to as "Ethereum 2.0" or "Blockchain 3.0" (after Bitcoin 1.0 and Ethereum 2.0).
So, what are some fundamental aspects that make this a good long term position in Cardano?
Ready for the future. Cardano implements a new coding language that makes it easier to adapt to future changes needed in the blockchain. This means that it will be able to adapt to changes and needs that may be unimportant now but crucial in the future.
Reliability and ease of use. I have been using The Daedalus wallet of Cardano and I have to say that the software is well built, the transactions are really fast and everything is pretty intuitive. This is a very important aspect in crypto, since it will make it easier for mass adoption in the future.
Proof of Stake. Through proof of stake it will be possible to mine Cardano without having to utilize lots of resources as in a PoW algorythm.
Also, it will be nice to have integration with Ledger Nano S in a few weeks, whick will allow for an easy way to cold-store the coins.
What do you think? Are you considering adding Cardano to your portfolio as well?
Here is the daily HODLfolio update:
More or less a neutral day, as Alts have stopped bleeding and BTC has tested its support at about $9.7K and bounced back to 10.2K levels.
Nice gains from NANO, mostly due to the big news that they have partnered with Twitch to allow payments in NANO to streamers. More adoption on such a big community is really good news for this coin! Nice pick in our portfolio!
See you tomorrow, when 360Trader will announce the 360 Bottom Feeder Portfolio picks!