So, bridging ADA grants the user access to the benefits offered from Cardano’s scalability, advanced security, and governance features. Furthermore, you’ll also have access to DeFi services and protocols that are only available on Cardano.
When we talk about bridging, we mean transferring assets from one protocol to another. Some crypto assets function on one chain based on their design. But, crypto bridges pave the way to move liquidity across chains when needed. Thanks to bridges, platforms like Cardano and Ethereum, which do not see eye to eye, can share assets. Making the most of each market sector requires bridging assets from one chain to another.
now while you can https://t.co/2mJuNUXdoI
— Bruso Invest (@Bruso_1) March 4, 2023
What Is ADA
As mentioned above, ADA is Cardano’s in-house token, and it is located on the Cardano Settlement Layer. ADA has a maximum supply of 45 billion tokens, and these tokens will be minted and distributed over time.
Like other well-known cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), ADA can be kept in cryptocurrency wallets and exchanged for fiat money like the U.S. dollar. Third-party wallet services can store and transfer ADA in addition to native wallet options like Daedalus and Yoroi.
ADA and Cardano have an active development and investor community behind them. Interestingly, enthusiasts have gradually begun taking ADA as payment as the cryptocurrency keeps growing in value.
Now, let’s look at some bridges for ADA.
Microchain provides a more secure cross-chain bridge that is based on Cardano. It provides fully centralized and decentralized cross-chain services, enabling multi-chain and multi-layer functionality. Presently, Microchain offers seamless cross-chain interaction between Milkomeda, Cardano, Ethereum, and Bitcoin. It, however, plans to extend its reach in the coming months.
You can use Microchain to easily bridge your ADA.
Microchain which is built on Cardano is out to empower multi-chain & multi-layer with complete centralized and decentralized cross-chain services.
Microchain is also bringing mainstream crypto assets into Cardano,which would add tons of value into the Cardano ecosystem.
— Veraaa ? (@verah_tee) June 15, 2022
Milkomeda aims to provide non-EVM blockchains access to EVM features and currently supports the Cardano network. The Milkomeda protocol provides Cardano access to the power of the Ethereum Virtual Machine. It connects the Cardano blockchain with Ethereum, giving you access to the best features of both blockchains, much like a portal between two galaxies. Milkomeda is an EVM-compatible side chain bridged to Ethereum. So users have access to existing smart contracts and services on Ethereum.
9/n This month we're proud to say that we've successfully unwrapped tokens using only @FlintWallet , allowing users to bridge their Milkomeda assets back to Cardano! We are actively working on Milkomeda DApp Support to make it possible to use EVM Dapps directly from Flint.
— dcSpark (@dcspark_io) March 6, 2023
We have previously covered how to move tokens between Cardano and Milomeda.
Where Do You Buy Cardano?
You can buy ADA on a cryptocurrency exchange like COINBASE or BINANCE to convert fiat into cryptocurrency. Before selecting an exchange, it is best to be familiar with the costs and accepted payment options.
Once you’ve decided on the exchange to use and how much ADA you want to buy, the next step is to choose a saving mechanism, such as hot or cold wallets, to keep your cryptocurrency holdings.