What is Cardano (ADA) and how to get an instant ADA loan
The Cardano project started in 2015 and is managed by Charles Hoskinson, the co-founder of both Ethereum and BitShares. The original concept of this project was to create a blockchain that can outperform older blockchains than Ethereum. By that, meaning it can process a higher percentage of transactions in a more affordable and faster way. Hoskinson calls Cardano a “third gen blockchain” with Bitcoin and Ethereum being first and second-generation respectively.
Much like Ripple and XRP, Cardano and ADA are not necessarily mutually exclusive. Cardano is the name of the blockchain that lets people receive and send funds while ADA is the name of the cryptocurrency coin. Also similar to Ethereum, the Cardano blockchain lets people build smart contracts. Here, two more people can start an automated agreement without the need for a third party.
Before we delve into how to get an ADA loan, let’s first analyze a few pros and cons
Pros and Cons of Cardano (ADA)
- ADA crypto offers affordable and fast transactions
- There is no limit to scaling.
- First blockchain to use multiple layers (computational layer and settlement layer)
- Cardano’s consensus mechanism is more “green” and sustainable than older blockchains
- Well respected development team with experience in previously successful projects like BitShares and Ethereum
- Other blockchains like Ripple are faster (1,000 transactions per second)
- Some debate that ADA coin is more theoretical and has yet to truly prove its claims.
- Slight problems with ADA official wallet
All that being said, ADA supporters are extremely loyal and have no interest in selling their coins now. Hence, YouHodler decided we will help with instant crypto loans.
How to get an instant ADA loan
If you are a passionate ADA HODLers and never want to sell, then use ADA as collateral for an instant fiat loan. Getting a loan on YouHoler is easy. Just sign up, pass our quick KYC/AML procedure and then deposit crypto into your wallet.
From there, it’s just a matter of choosing which currency you’d like to receive your loan in. You can choose from ADA to USD, ADA to EUR or ADA to GBP. With an industry-best LTV of 90%, you know you’re getting the most money for your collateral and also not missing out on any future growth by selling ADA.
So visit us today to keep HODLing and try Cardano lending.
How to borrow Cardano - How does it work?
With our Crypto-Backed Loan service, you can borrow BTC, USDT, USD, EUR, GBP, or CHF only. That means if you want to borrow ADA you first must convert one of the above to fiat and convert it to ADA using our exchange service.
Cardano loan calculator
You can use our ADA loan calculator with different loan plans to find the best option for you. You can see all parameters on the form such as loan duration, price down limit, and loan repayment. If you want to loan Cardano, please check the calculator first to see which plan works best for you.
Cardano lending process
Cardano lending is easy with YouHodler. Just open and verify your account, deposit your crypto to the wallet and use it as collateral for your future ADA loans.
It's worth trying! Forget selling your
with instant crypto backed loans on YouHodler
If you would like to learn more about crypto credits, please continue to the app. Start boosting your crypto portfolio now with YouHodler's crypto lending, convert, buy and sell options.