OMG.
Does anyone have an idea as to the crumbling ADA as far as price?
Any thoughts what might happen over the next month?
Stocks fall -> Bitcoin falls -> Altcoins fall.
Just hold and wait. If you have a read on the economy and think it’ll crash, you can decide to sell and buy in at a lower point, but that’s a gamble. This crash has nothing to do with Cardano so none of the fundamentals change.
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That’s what I am thinking. Thx.
Shawn like necropuddi said you generally see ADA moving with Bitcoin but you asked why is it going down? When the US dollar strengthens you see prices fall. When it weakens you see crypto rise.
Many traders are hedging against the dollar by jumping in and out of crypto.
It can be annoying or scary to some but it is also an opportunity. If you buy the dips psychologically you will feel better because you know you got a better price than the other guy. Plus if you repeat the process several times you will have a lower cost basis than many (dollar cost averaging).
Just a few thoughts for you. Stay safe and only bet what you can afford. Cardano is amazing but it is still risky and a very volatile asset
I wish I had more to invest NOW.
To me this is long term.
I hear you brother. If you are in this thing long term like I am you will find ways to scrape together some extra spending money here and there. Make sure to stake your ada so your stack can grow that way too. I know Cardano is incredible but you always have to plan on the possibility that it can go to 0.
There are currently no reasonable ways for USA citizens (and perhaps others) to buy ADA. ADA is in the tank because Bittrex is no longer an ADA option and Binance.US is a dysfunctional (if not corrupt) joke. ADA is currently out of retail business and “no longer in stores”.
Binance.us is fine for Ada. Got some there myself
Kracken is OK also I believe. New York residents still have a problem…
My terrible experiences are similar to these found here:
https://www.trustpilot.com/review/binance.us
https://www.trustpilot.com/review/kraken.com
Luckily my account is STILL with Binance, not Binance US.
They never forced me to move.
All my transactions have gone exactly as needed.
I have moved all my ADA to Daelus and am now even getting additional ADA because of staking.
Supposedly ADA will be on Coinbase by the end of the year.
Having it in my wallet protects me form a hack and I also get more tokens every week!!
If anyone has more issues please let me know.
If you buy from Kraken just make sure you transfer to your daedalus or Yori wallet ASAP. I personally use Kraken but I have been told if you keep it on the exchange you don’t actually own your ADA (its like an IOU). I have had no problems withdrawals from them into my wallet so that’s why I continue to use them.
As far as the dip I agree its concerning. ADA is dropping while BTC is rising (usually they go up and down together). Either way if you are in ADA long term this can be a solid opportunity. The fact that the tether between the two is starting to break is showing some level of indipendence.
This reduction in price will just put more pressure on the development teams. Hopefully they can push out the test network soon.
You will also notice that most ALT coins are falling behind BTC so this is an interesting phenomenon
Trust the long-term value of decentralization, cardano’s philosophy and developers, and you wont worry so much about the price of ADA.
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I should say this, my terrible experiences are with binance.us taking my sensitive personal data and then locking my account.
kracken.com: My experience with kraken.com is that I can’t do anything I want without making the same mistake I did with binance.us and sending kraken all of my personal data, which I will never again do after being screwed by binance.us. So kraken didn’t hurt me, they never got the chance after the binance.us fiasco.
binance.US I am also thinking that binance.us might simply be incompetent rather than evil. Maybe they just don’s have the security in place and the support staff to handle this business - which is still terrible but for slightly different reasons. Since the fiasco I keep getting an email every 7-10 days stating that ip address 69.216.244.54 (not mine) has been denied for “7_DAYS_REFUSED”. Probably something very bad going on there and perhaps involving all my personal info.
Kraken just got approved to operate as a bank in Wyoming:
Kraken is known to be one of the safest if not the best on cyber security. I am not promoting them by any means but they clearly value security as part of their culture
You can sign up for a basic account on Kraken and not share much personal information as long as you only transfer crypto into your account (no fiat). The problem with this is it costs more because you have to pay trading/ transfer fees twice.
Unfortunately right now most exchanges that allow you to buy Ada are a pain in the rear to deposit anything other crypto into. It’s crazy to think we are on the cutting edge of technology yet we are still beholden to the banks and the powers that be. Hopefully with the Kraken bank charter it will make fiat deposits easier. The new feature with receiving paychecks in crypto (at least a percentage) is very interesting to me. Their system is by no means perfect, or intuitive for that matter, but I hope it is a sign of progress. The great thing about being paid in Ada is that we won’t be taxed by inflation.
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I agree - ADA needs an exchange that works. Another problem with Kraken is that they don’t accept ACH (billpay, free transfers) and instead require wire ($30+$10=$40) and kraken will not accept any of my bank accounts because it has to be in the exact name that you registered with kraken - it can’t be a joint account with your wife, for example. And it can’t be a Capital One account - for whatever reason those don’t work.
I find no debt card or credit card options either (not that these are a great solution anyway because of fees).
So for the time being the ADA coin is not reasonably unavailable to US citizens.
Ok, it’s available if you give plaid your bank account username and password - but I don’t consider that an option.
I’m seeing the potential value in this - ACH free transfers.
bitrue.com worked well for me.
Minimal KYC for amounts less than 1 BTC per day.
I’m in the US, but Binance.us doesn’t work in my state. (I also find them bloated pricewise)
My first and biggest ADA purchase was on bittrex the first week of July, I haven’t used it for ADA trades since Shelley.
Oh yeah, I’ve also easily traded for ADA within the Atomic wallet. That’s usually been pretty easy, but they seem to cost a bit more there than what you might see on coinmarketcap.
Generally speaking (and I don’t have a ton of experience) what I’ve found gives me the easiest options was to on-ramp fiat through bittrex or crypto.com, buy BTC and then move it to where ever ADA or your other desires are traded.