Why Cardano is a Better Investment Than Ripple and Litecoin
Of late, most of digital currencies have been increasing in value, with Bitcoin making the most significant leap. As a result, many of crypto investors have started speculating on which asset has the highest potential. Last year, when crypto enthusiasts were in a similar situation, only those that made sound decisions ended up with huge profits, and they would want the same to occur this year.
As of now, the most likely candidates for consideration are Ripple (XRP) and Litecoin (LTC), cryptos that are currently ranked at third and seventh respectively in terms of market capitalization. Albeit unsurprisingly, many traders will most likely overlook Cardano (ADA), the eight largest cryptocurrency according to market capitalization value. Despite its current ‘unpopularity’, ADA has several advantages over XRP and LTC, making it an equal match (if not better that the two) as the best investment option of this year.
Disadvantages of XRP and LTC
For a considerable period, the Securities and Exchange Commission (SEC), has been tracking the XRP digital currency with an intention of determining whether or not the coin is a security. In its defense, Ripple Labs argued that the Ripple Company is different from XRP, which is a digital asset. Regardless, the SEC is yet to issue its final stance regarding the classification of XRP. Moreover, the firm is currently facing multiple lawsuits claiming that XRP is indeed a security. Therefore, for XRP to qualify as a sound investment, these challenges need to be ironed out.
Similar to XRP, LTC has also had its fair share of shortcomings in recent months. Litepay, a payment processor for the LTC network, was nothing short of an immense failure. Litecoin has since to make amends by collaborating with an unnamed German bank to establish a payment mechanism that links fiat money to digital currencies. Also, the questionable demeanor of the LTC CEO has attracted lots of criticism from several members of the crypto community.
What Makes Cardano Special?
After Coinbase, a popular cryptocurrency exchange, hinted that it would soon list Cardano on its platforms, the coin has reported increased activity in the crypto space. While most coins were plummeting in the first half of 2018, ADA maintained a respectable performance record. Furthermore, Cardano is the first digital currency that is conducting a survey to set a milestone in the growth path.
Evidently, recent events suggest that ADA is destined for greatness. In this regard, the company’s CEO expressed his hopes that Cardano will be the first crypt asset to hit the $1 trillion market capitalization value. To achieve this dream, however, Cardano has to establish as self-sufficient ecosystem.
LTC’s founder, Charlie LEE, is currently working hard to reinstate the reputation and value of his creation. By the looks of it, his efforts are likely to bear fruit. On the other hand, Ripple Labs are determined to fi the issues challenging XRP. Nevertheless, ADA trumps over these tow as the most suitable investment option, primarily because it has real-life use cases.