Why The Integration Of ADA By Simplex Is Of Paramount Importance To The Cardano Community
IOHK (Input Output Hong Kong) has teamed up with Israel-headquartered payment processing gateway Simplex to integrate Cardano (ADA). ADA joins the list of other digital currencies supported by Simplex in a bid to meet the rising interest and popularity of ADA.
Cardano Becomes Latest Crypto To Use Simplexs Fiat On/Off Ramps
Simplex, which is a Visa principal member, has incorporated Cardano. This means that convenient on-ramps and off-ramps are available for cardano users around the world. According to the announcement on Wednesday, ADA will be available for purchase across all Simplex partners, including cryptocurrency exchanges, wallets, custodial platforms, and brokers.
Suffice to say, fiat-to-crypto on-ramps are very important for the success of any cryptocurrency. At this particular time when digital currencies are gaining traction across the globe, its vital for users, especially newbies, to be able to purchase their favorite cryptocurrency seamlessly and reliably.
Thanks to this new tie-up, millions of crypto users can purchase ADA tokens with debit or credit cards, SWIFT transfers, SEPA, or Apple Pay. The financial institution cites Cardanos growing prominence and developer activity as some key motives behind the addition:
“The renewed interest in Cardano is the product of a loyal social media following, a thriving community, and landmark achievements. As its popularity and appeal keep rising, both investors and developers will continue to explore new boundaries.”
Cardano has been gaining momentum in recent weeks following a series of significant network upgrades and huge announcements that brought more attention to the Charles Hoskinson-led platform.
Simplex has inked partnerships with over 360 cryptocurrency-focused firms since its launch and it offers services to exchanges like OKCoin and Binance. At the time of publication, the EU-licensed firm has integrated over 50 cryptocurrencies and hundreds of fiat currencies to ensure an excellent and secure user experience for all traders and investors.
ADAUSD Chart By TradingView
ADA is currently valued at $1.32. The recent (and forthcoming) upgrades and fiat onramps position the cryptocurrency for further upside as the present crypto market bull rally continues to unravel.
Cardano Sentiment: Post African Renaissance
Africa is set to benefit from these blockchain companies as they are now venturing into the continent to undertake some charitable projects. Cardano leads the pack as its developers IOHK have already laid a clear path and vision on the plans it has for the continent.
This Is How Cardano’s First DEX Will Try To Disrupt DeFi
The project will develop 7 key features: support for any Cardano native token, introduced with the previous HFC events, Allegra and Mary; give liquidity providers the capacity to received fees collected on the DEX; leverage EAMM protocol for liquidity-sensitive automated pricing; the ability to trade with ADA and other native tokens via Yoroi wallet; single transaction trading, and single transaction transfers.
Cardano vs. Polkadot vs. Ethereum, Which Project Will Emerge The Winner?
Alonzo is on track for an August release, bringing smart contracts to Cardano. Polkadot is racing to finish parachain rollouts to enable on-chain governance. At the same time, Ethereum is working on Proof-of-Stake, with its proposed sharding scaling solution scheduled to arrive sometime next year. But which project has the mass-market appeal to come out in top？
Why Cardano’s Hoskinson Called Proof-of-Work a Road to Nowhere
Cardano’s inventor and IOG CEO Charles Hoskinson commented on Bitcoin’s hashrate dropped after a blackout struck some small counties in the province of Xinjiang.
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