ADA is a popular cryptocurrency with a growing fanbase. So, you need to think of a secure Cardano wallet to store your coins in. Here is a handy guide for you.
What is Cardano?
Cardano is a decentralised platform focused on financial apps. The network is quite similar to Ethereum at some point, but with enhanced scalability and security. We will get to it a little bit later, though. Let’s start with the very basics.
The key difference between this blockchain and other smart contract platforms is in the way Cardano is built. Basically, all the engineering in Cardano is dedicated to building a “High Assurance Code”, based on scientific philosophy and academic research. Why? The goal is creating a reliable code and prevent splits. Cardano project relies on three essential elements:
Besides, Cardano platform is home to ADA cryptocurrency. ADA coin is now on a top of the popular cryptocurrencies list with its cheap and quick transactions. Possibly, the success of Cardano coin lies in the efforts of their fantastic development team and no scaling limit. Another great plus of Cardano use is the transactions being much more environmentally friendly than other blockchains.
When it comes to the ADA wallet choice, things might get a little complicated for the users. No wonder, there are just too many wallets supporting the coin! However, our advice on this would be following a standard set of rules.
First of all, do your research. It is important to get all the wallet options lined up for further comparison. Then, proceed with your evaluation.
- Security. All you want to is keep you ADA safe, we know that. To pick right cryptocurrency storage, look for non-custodial wallets. The main profit of a custody-free Cardano wallet is keeping your personal information to yourself. Custodial services gather the data on their clients and, in case of an attack, leakage or another unfortunate event, your funds might be gone. You don’t want this, believe you good old non-custodial wallet team.
- Availability. As far as we know, it might happen that some wallets have restricted usage on the territories of some countries. So, it is better to check it prior to trying to create a wallet. For those who were wondering – Guarda wallet has unlimited access worldwide.
- Activity. Check if the team of your wallet actively participates in the user communication. When starting to use your Cardano wallet, you might stumble on to something that is unclear. Be sure that none of your questions is left unanswered. Things to look for – social media pages, blogs, support lines, Telegram community chats.
- Functionality. You wallet for Cardano needs to be handy. Check if a wallet you have chosen has all the necessary features. For instance, you might be interested in exchanges, cryptocurrency purchases for fiat, special features of supported coins and even cryptocurrency loans.
- Comfort. We at Guarda strive to make one wallet that will be enough for all the cryptocurrency management you can imagine. In our opinion, the best Cardano wallet should be multi-currency, multiplatform and have lots of great features packed under the hood. This is just what we do here.
How to create a Cardano Wallet?
There is not much you need to know to set up your first Cardano wallet on Guarda. First of all, you will need to choose the right version from the platforms we are offering:
Secondly, you need to set up your ADA wallet. Here is a handy guide that will help you:
- On the main page on Guarda’s website, select Create Wallet
- You will be redirected to the welcome screen, where you’ll need to click Create a New Wallet again
- Secure your Cardano wallet with a strong password. You can use your password guide to make sure everything is safe
- Download your backup. Remember that Guarda is a non-custodial wallet, so you are the only person responsible for the safety of your backup. Please keep it offline in a safe place.
- You ADA wallet has been created! Enjoy secure Cardano storage, speedy exchanges and other great features of Guarda Wallets!