The rapid expansion of online trading options has resulted in the emergence of e-currency exchange as a stand-alone industry. However, to get started with Cardano Exchange, one must first have a well-defined company plan in place. Also necessary is understanding the concept of electronic cash and how it operates via the internet.
Electronic money is a form of currency that can only be traded via the use of electronic means. In more technical terms, it is an online representation of a system of debits and credits used to exchange value with another system or with the system it represents. Typically, this is accomplished through the use of the internet, computer networks, and digital stored value systems, which have been built mainly for this purpose. It should be noted that e-currency exchange may also involve the trading of other things, such as gold, in which case the currency is referred to as digital gold currency (or digital gold).
The Cardano market is growing at a fast rate. The currency started its journey about two months ago and has made up for an impressive $2 billion market cap. It was the first currency to pass the $2 billion mark in 2017.
This currency was developed by Charles Hoskinson, one of the co-founders of Ethereum, who left due to differences with Vitalik Buterin. He has also worked as CEO for both Bitshares and Ethereum Classic, so he commands respect in the crypto space.
Cardano is currently sitting at 5 th position on Coinmarketcap, and investors are looking forward to investing in Cardano ADA tokens. Once you have bought your desired quantity of ADA coins, the next thing that comes to your mind is to store your ADA tokens in a secure place, where Cardano wallets come into play.
But why use a wallet, and for that matter which wallet shall you choose? I cannot give you the answer, but we saw what happened to Coincheck. They lost $530 million worth of XEM tokens – one of the biggest heists in crypto history. Just imagine, you lose all your investment overnight! Not just that, it takes months, if not years, before you can recover from such losses.
So yes, please do yourself a favor and learn more about Cardano wallets before investing. If you are willing to invest in Cardano, read on as I list some of the best wallets for you below.