Cardano (ADA) is a blockchain platform built on a proof-of-stake consensus protocol (called Ouroboros) that validates transactions without high energy costs. Development on Cardano uses the Haskell programming language, which is described as enabling Cardano "to pursue evidence-based development for unparalleled security and stability." The blockchain's native token, ADA, is named after the 19th century mathematician, Ada Lovelace.
What is the Cardano network?
Cardano was founded by Charles Hoskinson in 2017. Hoskinson was the co-founder of Ethereum, but left Ethereum to build Cardano, which he considers the "3rd-generation blockchain" following Bitcoin and Ethereum.
Cardano aims to solve three of the biggest challenges facing blockchain technologies: scalability, interoperability, and sustainability.
Ouroboros (proof-of-stake) increases transactions speed and data compression maintains data without slowing network performance.
Cardano looks to become the "intrnet of blockchains" by using "sidechains" that allow the transfer of crypto assets on the Cardano blockchain without an intermediary.
A Treasury fund will receive a small percentage of ADA transaction fees, staking rewards, etc., and distribute these funds to certain selected developers who will then improve the Cardano protocol.
What is ADA?
ADA is the native token of the Cardano network, and is named after Ada Lovelace who was a 19th-century mathematician.
ADA is a proof-of-stake token, which means ADA holders can vote on proposed changes to the Cardano network, and it can be staked to earn rewards (ADA voting and staking is currently not available on Coinbase Custody).
The maximum supply of ADA will cap at 45 billion.
Which products support Cardano (ADA)?
Sends and recives are available on Coinbase Custody.
What regions support Cardano (ADA)?
Crypto to fiat trading pairs
Crypto to crypto trading pairs
See the full list of countries that Coinbase supports for crypto-to-crypto trading.
How many confirmations are needed for Cardano (ADA)?
Cardano (ADA)? requires 10 network confirmations. Learn about transaction confirmations.
Which blockchain network hosts Cardano (ADA)?
Cardano (ADA) is hosted on Cardano.
What are the minimum and maximum withdrawal amounts?
Coinbase has implemented safeguards to ensure a healthy and efficient network both on-chain and through our platform.
These safeguards include both minimum and maximum amounts for each cryptocurrency we allow customers to send through the blockchain.
Minimum: 1 ADA
Maximum: 1,000,000 ADA
Am I required to use a new ADA address when sending?
The Cardano network was upgraded in 2020, resulting in two address formats: Byron (legacy) addresses and Shelley (new) addresses. Coinbase supports sending funds to most legacy Byron addresses and all new Shelley addresesses at this time. We will add support for all ADA addresses at a later date.
What happens if I send ADA to an unsupported legacy address through my Custody account?
If you attempt to send ADA to a Byron that is currently not supported or it's an invalid address, our system will prevent the send and you'll receive an error message. If you‘re sending to a Shelley wallet address or a supported Byron wallet address, the crypto will be sent as normal.
Note: There is no impact to receiving ADA into your Custody account.
How do I know if I'm sending ADA to a supported (Shelley) address?
Our system is designed to prevent off-platform sends of ADA to unsupported or invalid addresses.
The Byron wallet address starts with this format:
Icarus-style: Starting with Ae2
Daedalus-style: Starting with DdzFF
The supported Shelley addresses start with this format: addr1
What is the timeline for full functionality?
Coinbase plans to enable both address formats soon. You can follow our Twitter feed for the latest updates.
I was able to send ADA to Coinbase, but I received an error when attempting to send back?
We are able to support all receives for ADA, however, we currently do not support sending off Coinbase to some Byron addresses.
I want to send funds to an exchange that only supports legacy (Byron) Cardano addresses. How do I do that?
Coinbase is now accepting most Byron addresses. If you see that the address you are attempting to send to is blocked, you may want to check that the address is correct.
If the address is correct and still unsupported, you will first have to send ADA funds to a Cardano wallet that supports both address types (e.g. Daedalus, Yoroi) followed by another transaction to the Byron address on an exchange. You can reference the section above for examples of both legacy and Shelley addresses.
As a reminder, Coinbase will add support for all ADA addresses at a later date.
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