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Should You Be Using Your ADA to Buy Coffee? An In-Depth Analysis

ADA

Hey everyone—Erick here—I read a comment on a Reddit thread and it sparked my thinking mind, way too early, so I decided to share some of my thoughts on the future of Cardano and ADA. The comment was along the lines of, “I would never use my ADA to buy a Coffee,” and I think this logic is flawed. Well specifically, the never part; granted, now isn’t the time but the future should be.

As early investors, we would all love to see ADA go to $100-thousand-million-über-dollars, but it isn’t realistic and, in my opinion, shouldn’t be the end goal. I have personally set a target price of $3.00, and, as investors, we should really start pushing for ways to spend our tokens as they were designed. With a total circulating quantity of 45 billion coins, this token wasn’t built to be another gold bar, but to be used as an actual currency.

In truth, we don’t need another gold bar cryptocurrency—we have Bitcoin for this—we need an actual form of money for trade and bartering between nations and the average person.

Now, since ADA is being designed as a global currency, the price can’t be ridiculous because people across the globe are supposed to use this new coin for trade, not just hodling. A lot of research is being put into leapfrogging developing nations, and thanks to cryptocurrencies, this is a real possibility. This won’t happen if average consumers are forced to buy yet another rich-man’s token.

Additionally, if we early adopters go into the game with the attitude, “I would never buy a coffee with my ADA,” you are actually hurting the cause more than helping it. Every store you go into should go something like this:

“One Coffee Please” – Receive Coffee – “Thanks, do you accept Crypto?” – “No?” – “You could consider accepting ADA, it is super easy to buy and trade.” Boom, another seed is planted.

Granted, Cardano isn’t quite finished with building the blockchain, and while there is huge potential in the platform, the blockchain isn’t finished and it is still difficult, almost impossible, to accept and pay for anything using ADA, and that is the real issue moving forward. Hopefully, once smart contracts are implemented, this will change as it will open the door for developers.

The long-term goal is not to HODL the ADA forever; the goal is to one day wake up and enjoy a nice cup of coffee paid for with ADA.

This article was curated through CryptoCurrencyNews’s Contributor Program. If you would like to write for us, send us your submission!

Featured image: DepositPhotos © wideonet

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