A complete guide on how to buy Cardano (ADA) on different exchanges and brokers. Also, learn how to Buy Cardano (ADA) using different methods like credit cards, debit cards, and ATMs.
We will tell you where and how you can buy Cardano (ADA) and introduce you to some of the best platforms to acquire ADA. Our guide also includes step-by-step guides for buying Cardano on the various crypto brokerages and exchanges and the pros and cons of each platform.
Cardano is a fully open-source blockchain project that provides the infrastructure for the cryptocurrency Cardano (ADA). Running under the proof of stake consensus algorithm, Cardano was developed to provide a more efficient alternative to the energy-intensive proof of work algorithm networks. ADA is the platform’s primary cryptocurrency, and the two launched together in 2017.
Cardano is known for providing scalability and security through its unique layered architecture design. As a result, people can use its cryptocurrency ADA to send and receive payments while guaranteeing fast and secure direct funds transfers, securing a place as the future of money. As of this writing, Cardano (ADA)’s market capitalization is at $56.7 Billion, ranking fifth on Coinmarketcap. Its value stands at $1.76 with a 24-hour trading volume of $6.5 Billion.
But is Cardano a good investment? How can I acquire my first ADA? Which is the best place to buy Cardano? Do Cardano dispensing ATMs exist?
Read on to get the answers to these questions and everything else you need to know about the altcoin in this Cardano (ADA) buying guide.
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Visit eToro
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Visit Capital.com
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Visit Coinbase
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Visit Binance
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Visit Coinmama
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Visit Kraken
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Almost every exchange platform will require you to create an account first before you start buying Cardano. The platforms deliver different user experiences, so you can start by identifying one that is reputable, like eToro, and create an account with it. Most of them require identity verification, so be ready to provide the details. Identity verification is important, more so if you want to buy Cardano with fiat.
After creating and verifying your account, depositing funds into it. Some exchanges allow crypto deposits, in which case you use a cryptocurrency like Bitcoin to buy Cardano. If you want to buy using fiat currency various payment methods are available for you based on your country of residence. Also, different platforms support varying payment options. Some of the most common include eWallets, PayPal, credit/debit cards, and Bank transfers.
Now that you have a funded account with a reputable exchange, it’s time to exchange your funds for some Cardano. You can acquire real coins, and this is what the crypto community regards as buying without leverage. Buying with leverage means you do not buy the underlying coin but the contracts of the crypto derivatives.
In this case, you can trade in Cardano CFDs, futures, and options contracts with leverage. However, some platforms do not support leveraged trades. If you want to buy Cardano with leverage, make sure you create your account with a platform that supports leveraged trades like eToro.
Cardano is a decentralized, public, open-source blockchain and a cryptocurrency. Though its native crypto coin is often referred to as ADA, the name Cardano refers to the blockchain and the cryptocurrency. The project found its name from the Italian polymath Gerolamo Cardano, while the cryptocurrency was named in homage to one of the first computer programmers in the world, Ada Lovelace. Lovelace was the first person to publish the idea of a machine algorithm for a computer-like engine.
Cardano launched in 2017 as a project of the blockchain firm Input Output Hong Kong (IOHK) under the current CEO Charles Hoskinson. Today, it’s among the most prominent blockchain projects after Bitcoin and Ethereum.
The founder built the project up from the ground after Hoskinson left the Ethereum team over differences in opinions on governance. Its goal is to become a next-generation platform to Ethereum by providing advanced infrastructure for smart contracts. Notably, Cardano was the first blockchain project to be developed and peer-reviewed by academic experts, and unlike other similar projects, it did not start with a white paper.
It provides a blockchain network that is more energy-efficient, secure, flexible, and scalable enough for executing smart contracts and developing decentralized finance applications and crypto tokens.
The native cryptocurrency ADA can send and receive payments, traded on exchanges, or be included in cryptocurrency investment portfolios. It’s also used for staking and paying for transaction fees on the Cardano blockchain.
The Cardano network works under a secure proof of stake consensus algorithm named Ouroboros. The consensus algorithm provides an alternative to the energy-intensive proof of work algorithm used by networks such as Bitcoin. Also, it partly solves the scalability issues that still occasion high gas fees on Ethereum.
The Cardano blockchain stratifies its network into two layers, the Cardano Settlement Layer (CSL) and the Cardano Computational Layer (CCL). The Cardano Settlement Layer is the platform’s balance ledger, responsible for supporting peer-to-peer transactions.
The computational layer runs separately from the settlement layer to allow for flexibility if changes are needed. It’s responsible for powering all the computational needs on Cardano and thus allows Cardano’s execution of smart contracts. In addition, the off-chain nature of the CCL layer enables it to have a higher data storage capacity and an access model that allows users to customize the rules for validating transactions.
Both Cardano and Bitcoin are blockchain projects and cryptocurrencies. However, Cardano came much later after Bitcoin, which means it features several improvements compared to earlier blockchains like Bitcoin. Besides, the Cardano network capitalizes on decentralized finance products and smart contracts, which are all not available with Bitcoin. So let’s have a deeper look into some of the major distinctions between Cardano and Bitcoin.
Cardano uses Ouroboros, a proof-of-stake (PoS) consensus algorithm, to verify transactions. Notably, the algorithm consumes significantly less energy compared to the proof-of-work (PoW) consensus. According to Hoskinson, the Cardano blockchain uses an estimated 6GWh per year.
Bitcoin, on the other hand, uses the proof of work consensus algorithm. Unfortunately, the consensus mechanism is associated with high energy consumption, estimated to be up to 110TWh annually. Lately, Bitcoin has received massive criticism and rejection as a payment solution over unsustainability issues.
Cardano was created to solve the sustainability, security, scalability, and interoperability problems associated with preceding blockchains to provide a platform with advanced smart contracts functionalities. It was not an original plan but an alternative project conceived after a fallout between the Ethereum co-founders.
Bitcoin, on its part, was created to provide a way for people to transfer money over the internet. It was a conceptualized project designed to become the digital currency to send and receive payments over the internet in a decentralized manner. Its main goal was to facilitate cash transfers away from the traditional centralized fiat currencies.
Bitcoin has a limited block size of 1Mb which greatly undermines its transaction speed as its adoption levels continue to grow. On average, the Bitcoin network handles between 3 and seven transactions per second.
Cardano is much faster than Bitcoin and many other crypto coins. Going by updates from the network’s founder, Cardano’s transaction speeds could even surpass Visa’s 1,700 transactions per second. In addition, it is integrating a layer-2 scaling solution known as Hydra that could see the blockchain handle up to 1 million transactions per second. Hydra sits on the existing Cardano blockchain and functions as an express checkout at a store. Each checkout is a processing pool and is known as a Hydra Head. One Hydra head can process up to 1000 transitions per second, so 1000 Hydra heads could achieve 1 million transactions per second.
Generally, cryptocurrencies can have an unlimited or fixed supply. While Cardano and Bitcoin have a fixed supply, the maximum number of coins is capped at different amounts. Bitcoin has a maximum supply of 21 million coins, and there are currently about 19 million Bitcoins in circulation. On the other hand, Cardano has a hard limit of 45 billion coins. Currently, the number of ADA in circulation is 32 billion.
Charles Hoskinson began the development of Cardano in 2015, eventually launching the Cardano network and ADA in 2017. Going by the historical price data on Coinmarketcap, Cardano traded for the first time on October 1, 2017, with an opening value of $0.02. It’s notably one of the cryptocurrencies whose prices did not skyrocket amidst the 2017 bull run. ADA only hit slightly above $1 in January 2018 before reverting to below a dollar. However, its trading volume was rising significantly fast, having grown from $50 million to even a billion in just a few months.
Despite ranking high in the overall crypto market, ADA has not seen tremendous growth in prices. Its value has remained rather low, playing below a dollar for over two years since its launch. Even after crossing $1 in January 2018, it only lasted a few days and never rose to $1 again until February 2021. So far, the year seems to be promising and indeed the best the Cardano community has ever had.
Since February, the prices have consistently remained above $1, and ADA even hit its all-time high of $2.46 in May. As of this writing, ADA’s value stands at $2.17, with a market capitalization of close to 70 billion. Coinmarketcap places it at position 4 in the market, with a daily trading volume of $5 billion.
The conventional investment market provides players with multiple investment strategies, and so do cryptocurrency markets. Now that you have the picture of Cardano’s price trends and what can cause its price changes, let’s see the different strategies you can use when including ADA in your portfolio.
Are you confident that the price of Cardano will be high in the future? Then buying and holding is a great strategy for you. The crypto community refers to it as HODLing, which is just slang derived from misspelling’ hold.’
The strategy only requires you to buy ADA coins and store them in your wallet for the long term. It’s one of the easiest cryptocurrency trading techniques since it does not consume much of your time as you do not spend hours analyzing cryptocurrency charts.
You can trade and earn from Cardano without actually buying the coin. Some platforms like eToro support the crypto derivatives such as Cardano CFDs, allowing you to margin trade with leveraged cash.
The trader speculates the price movement of Cardano and chooses a side, then earns or losses based on the real outcome. Buying Cardano contracts for difference allows you to enter a trade with less capital compared to the amount required when trading real Cardano.
Day trading is for investors who can be actively involved in the trades. It involves acquiring Cardano and holding it for the shortest duration possible. The investor completes multiple trades within a day, ensuring that there are no open positions by the close of the day. The trader typically waits for the prices to move and sells when they start to profit, meaning you have to actively monitor ADA price movements. You can also dispose of your coins if the value begins to fall to avoid accruing further loss. The fast ADA transaction speed and the negligible fees make day trading an ideal strategy for trading ADA coins.
Whether you choose to trade in real Cardano or Cardano CFDs, you need to have some capital and deposit it in your preferred exchange or brokerage. The payment methods differ from one platform to another, but typically, you will have the following options:
There are many upsides associated with credit/debit card payments on crypto exchange platforms like eToro, and this makes them one of the most preferred payment options. For instance, eToro credit/debit card deposits are entirely free, plus users enjoy instant transactions. Cards are also globally accepted which means you can use them to buy Cardano from any country worldwide.
US residents can deposit from as low as $50, although the minimum deposit is normally $200 for first-time deposits.
Though it is not available in some countries, PayPal is a widely accepted payment option across different exchanges and brokerages. You can buy Cardano via PayPal on reputable platforms like eToro and start to trade. Transactions are almost instant, and you will have your ADA within a few minutes. eToro PayPal deposits for US residents start from $50 up to $10,000, but users in other countries have the standard minimum of $200.
eWallets have become a go-to option for making deposits on exchanges because they are easy to use and accessible at any time when needed. Further, some platforms like eToro allow users to deposit for free using popular eWallets like Neteller and Skrill. The only expense you are likely to incur is the conversion fee if using other currency besides the US dollar. Transactions are free and instant, so you can deposit and start trading Cardano or Cardano derivatives in minutes.
You can also buy Cardano on leading platforms like eToro using bank transfers. You just have to go through a long process, but every step is straightforward. Generally, it will take between 3 and 7 days before your deposits reflect on your account. Also, eToro sets the minimum deposit amount with bank wire a little higher than the standard $200. Your minimum deposit will be $500.
Some exchanges allow users to buy cryptocurrencies anonymously. eToro is one of such platforms so you can comfortably start buying Cardano without going through the account verification process. However, anonymity on eToro comes with a set of restrictions. First, it is only available in select countries, and with limited payment options. Also, users must operate within the buying and selling limit of $2,250 a month.
Your experience trading Cardano depends on different factors like your level of expertise and the exchange you choose. Our Cardano buying guide will give you loads of information about the coin, including how it works and what influences its prices. First, however, there are a few basic things you need before starting your journey with Cardano.
A Trading Account: First, you need to decide your trading strategy to help you determine the ideal exchange platform. If you want Cardano CFDs, you will need a platform that supports such derivatives. eToro allows you to trade in both CFDs and real coins so you can comfortably create and verify your account with the brokerage.
Cardano Wallet: Most exchanges provide users with a free inbuilt wallet. However, it’s good you get yourself a Cardano wallet storage that guarantees the safe keeping of your ADA. Cold wallet storage will be your best and most secure option if you intend to buy and hold your Cardano. Additionally, day traders may have to choose online wallets for ease of access.
Initial Capital: You will need the initial capital just like with any other investment. Cardano is currently inexpensive. You do not need a lot of capital to get yourself a few ADAs, and the transaction cost is also little. It is good you start small and purpose only to invest what you can be ready to lose.
Generally, there is no standard amount that is required for one to buy Cardano. What you get to pay for the coin depends on several factors. If you want to know how much it will cost you, you need to decide how and where to buy since each way attracts varying costs. For instance, some platforms will charge you for deposits, while others like eToro allow you to deposit for free. You can check the requirements of the different platforms available and see where the costs are favorable.
The payment methods supported by these platforms also have a significant impact on the amount you will need. Most of them have minimum deposit amounts, which still vary depending on your country of residence. For some, it can go as high as thousands of dollars. For example, residents of Israel who want to make deposits on eToro need a minimum initial deposit amount of $10,000.
Other underlying costs will still come into play with some exchanges. It could be commissions or currency conversion fees like those on eToro. Finally, investors must factor in ADA’s price, which also fluctuates due to the normal volatility of the crypto industry. The best time to buy would be when the prices are low, especially if you want to hold.
The crypto space is known to grow at an impressively high pace. In just about a decade, the world is all over the new digital assets, and they seem to be the future of the financial sector. Today, over eleven thousand cryptocurrencies exist globally, and Cardano ranks impressively at the fourth position despite being less than five years old. It takes a high position among the industry leaders like Bitcoin and Ethereum and is thus a coin you can easily get from most reputable exchanges and brokerages. On brokerages like eToro or a cryptocurrency exchange like Binance, you can buy the actual Cardano coin or trade in derivatives. Accessing Cardano is in no way a pain in the neck, and it’s also available on ATMs, peer-to-peer platforms, and over-the-counter exchanges.
For those who view creating an account with an exchange and verifying as a tedious process, you have the option of buying Cardano from ATMs. There are no ADA-specific ATMs, but the altcoin was made available on Boinnex by integrating the Cardano wallet. Boinnex customers can now buy Cardano with cash on the network of Boinnex-owned Bitcoin ATMs. Here is a step-by-step guide to buying ADA at ATMs.
Whether it’s your first time in the cryptocurrency space or you are out to add Cardano in your crypto portfolio, we believe by now you are well equipped with all you need to get started. Even though our guide includes a guide to the considerations you should make to find your ideal crypto exchange, it’s somewhat cumbersome to evaluate all the hundreds of options available. In that sense, we did our homework to bring you what we consider the six best platforms to buy Cardano.
eToro is a cryptocurrency brokerage that has been live since 2007. It is a popular exchange platform for digital currencies like ADA and supports traditional investments like shares and foreign exchange. It carries a range of features that make it our go-to platform for acquiring Cardano. For instance, if you are new, eToro provides you with a free demo account, plus it will allow you to buy real ADA coins or trade the crypto derivatives.
The platform has a great user interface, and you can easily create and verify your account, and verification is compulsory for most countries. The deposit and buying limits vary significantly depending on the country, but most countries’ standard minimum first deposit amount is $200. For others like Algeria, the minimum amount is $5,000, while US residents can start at $50. The payment options are varied and may also determine your minimum deposit amount. For instance, all deposits made via bank transfers must start at $500, including US residents. Other payment methods supported include eWallets, PayPal, credit/debit cards, iDeal, Rapid Transfer, and online banking options like Trustly.
eToro is highly regulated and has the licensing of the AISC and Cyprus SEC. Therefore, you can confidently buy your ADA coins on eToro and hold your coins on the free inbuilt wallet.
Note: Credit card users must ensure that the names on the cards match the names used to open the account. eToro stores your Cardano on their inbuilt wallet, but you can move your coins to the eToro wallet app and then to third-party wallets.
78.77% of retail cfd accounts lose money
You can trade Cardano CFDs at any time on Capital.com. It is a reputable platform that supports only cryptocurrency CFDs, allowing you an opportunity to profit from Cardano price movements on both sides. The platform uses a one-click technology that guarantees fast execution speeds. In addition, users have the option of making cash deposits or trading Cardano CFDs on margin.
The account creation process is easy, and you will get through in minutes, but all users must verify their accounts. You will have three account types to choose from, plus you can try the platform out with up to ten demo accounts. Users can also have a similar number of live accounts, but each must have a different currency.
The minimum deposit amounts are generally low and start from $20 for eWallets. However, if you choose bank transfer as your payment option, your minimum becomes $250. Alternative deposit methods include cards, eWallets, Apple Pay, Trustly, Giropay, and iDeal. The maximum deposit depends on the account you have, whereby the Standard and Plus accounts have a maximum of $3,000, while the Premier account has a maximum of $10,000.
Capital.com is a regulated cryptocurrency brokerage authorized by Cyprus Securities and Exchange Commission and the Financial Conduct Authority. So sign up and start speculating on the ADA/BTC trading pair.
Coinbase is one of the largest and earliest cryptocurrency exchanges. It launched in 2012 and has grown to become a reputable crypto-to-fiat exchange supported in 100+ countries. It has separated its platform to fit both beginners and seasoned traders. Newbies can trade Cardano using the main exchange, while institutional and professional traders can use the Coinbase PRO.
Creating an account on Coinbase is a straightforward and quite beginner-friendly process. It’s the ease of use that makes us rank Coinbase as the best platform for beginners. Once you create and verify your account, you only need to deposit funds using the various supported payment options such as PayPal, credit/debit cards, eWallets, Faster Payments and SEPA for UK clients, Bank ACH for US residents, Sofort and iDeal for European customers, and Bank transfers for other countries.
The deposits are free of charge, but the exchange imposes transaction fees based on the amounts involved in a transaction and country of residence. However, minimum deposits are pretty low at $50, and users can buy Cardano worth as little as $2. Thus, you can safely trade Cardano on this US SEC-regulated exchange.
Note: Your Cardano will remain on the exchange’s wallet, but you are free to move them to the Coinbase wallet app or third-party wallets.
Binance has a host of exciting characteristics that make it an ideal platform for acquiring Cardano. First, it is the best platform for low fees, plus it supports both actual coins and such derivatives as Cardano CFDs and futures contracts. Second, it is supported in 200+ countries, meaning you can access it from nearly everywhere across the globe. Finally, Binance also runs a peer-to-peer trading platform.
Creating an account on Binance is simple. However, you cannot make deposits directly on Binance using the options commonly used on other exchanges and brokerages. It is a crypto-to-crypto type of exchange and thus only accepts crypto deposits directly. Users can, however, still use fiat payment methods via the recently launched P2P platform, using methods like PayPal, credit/debit cards, eWallets, and Bank transfers. You can also use third-party exchanges like MoonPay and Simplex to buy Cardano on Binance via these payment options.
The minimum deposit amount and the fees you pay will depend on the third-party exchange you choose. However, it generally starts from $150, although you can make purchases worth as little as a dollar. For the direct crypto deposits and withdrawals, Binance doesn’t charge a cent. It also supports Cardano anonymous purchases and provides a free inbuilt wallet, but the platform is still in the process of becoming a fully regulated exchange.
Note: The platform will store your Cardano on Binance’s inbuilt wallet, from where you can transfer them to a third-party exchange or a wallet.
CoinMama is a one-of-a-kind platform that is neither a cryptocurrency exchange nor a brokerage. Instead, it is an instant-buy platform, meaning it allows users to buy Cardano instantly. The platform started in Israel in 2013 and has grown to serve a current population of close to 3 million users spread across over 190 countries.
Creating an account on CoinMama is a simple process, and verification is mandatory. Users have various payment options to choose from, including credit/debit cards, Bank Transfers, and eWallets like Google Pay and Apple Pay. Your account’s verification level determines the minimum deposit amounts. At the same time, the transaction fees are usually a 5.5% charge on top of the processing fees charged by your preferred payment service.
The platform does not provide an inbuilt wallet, so you need to find a Cardano wallet before you can begin the process of buying Cardano on CoinMama.
Note: The platform will deposit your Cardano in the wallet address you provided.
Founded in 2011 in the US, Kraken is inarguably one of the oldest cryptocurrency exchanges. The platform has a unique commitment to ensuring the security of the digital assets of its customers, positioning it as one of the best exchanges for the safe storage of crypto coins.
You can trade real Cardano coins on Kraken or still trade in Cardano futures contracts with attractive leverage of up to 50 times. The platform is currently available in over 180 countries, including 48 US states. You can easily create and verify your trading account by following their straightforward process. New users can also take advantage of the free demo account provided.
You can buy Cardano on Kraken using its range of accepted payment methods, including Bank Transfer, PayPal, credit/debit cards, and eWallets like Skrill and Neteller. The deposits are entirely free, and you can start buying Cardano for as little as $10. However, transactions on Kraken attract a 1.5% fee, plus the amount charged by the payment processor service used. Professional and institutional traders have the option of using the Kraken PRO, which guarantees instant trades. Kraken PRO, however, attracts maker-taker fees that depend on your 30-day trading volume but typically range between 0% and 0.26%.
Kraken is a highly regulated platform by different agencies spread across the world. It is authorized by FinCEN in the US, FCA in the UK, and FSA in Japan. Other bodies in Australia and Canada also regulate it. So comfortably buy Cardano on Kraken and have your assets stored securely in their free inbuilt wallet.
Note: Your Cardano coins will remain on the platform’s inbuilt wallet, but you can move them to third-party exchanges or wallets.
Our guide details some of the most popular ways of acquiring Cardano, including buying from exchanges and brokerages, peer-to-peer platforms, and ATMs. However, there are still other easy ways through which you can own some Cardano. Here is a look at some of them.
People issue gifts on so many occasions and for different reasons. While gifts can be in the form of physical goods, fiat money has also been sent as a gift, and so the rise of digital currencies like Cardano means they are also applicable. You could, therefore, receive some ADA as a gift or tip from friends, family, or colleagues.
Faucets are not a new thing to the online community. They are usually pop-ups on websites and mobile applications that ask people to complete certain tasks and receive incentives. The incentive can take different forms, including a digital asset like Cardano.
Aside from paying for Cardano through fiat or other cryptocurrencies, you could also provide a good or service and request to be paid in Cardano.
As mentioned earlier in this guide, holding is one of the most popular and straightforward ways of investing in Cardano. You store your Cardano in a secure wallet for a long duration, waiting for its price to rise eventually and sell at a profit.
Trading cryptocurrencies is one of the main reasons why people are joining the crypto space. Cardano is one of the cheapest and most promising coins. It is also listed on multiple exchanges, so anyone can acquire ADA and use it to trade.
Digital currencies like Cardano are fast, more secure, and cheaper to use for paying for goods and services. Moreover, Cardano is accepted across different merchant enterprises, and you can use it to make payments. For instance, if you visit Tamura, a Japanese restaurant, you can pay for their services with ADA.
Today, many charitable organizations are accepting digital currency donations. So if you own some Cardano, you can use them to donate to charity the next time you feel like rendering some financial assistance.
We all have sent or received a gift at some point in life. While you can receive a gift in the form of Cardano, you can also send a friend, relative, or colleague a gift in ADA. Content creators on social platforms also ask for support for their work, and some provide wallet addresses that can receive Cardano.
Lately, there have been allegations that Cardano founder Charles Hoskinson is manipulating the ADA community. Also, some critics argue that ADA has been in development for quite a long time and is still in development. In simple terms, they have been trying to portray Cardano as a dubious scheme by the founder and even labeling Hoskinson as rude and arrogant.
The allegations have been a topic for discussion on Reddit in the past week, and Cardano seems to have some die-hard supporters.
As seen from the post, the user vehemently defended some of the claims against Cardano and even started with a heading saying Cardano is not overhyped. According to the user, there is no point in calling out Cardano for being still in development since all other crypto coins are still developing, including the Cardano rival, Ethereum.
On claims about Hoskinson manipulating the Cardano community, the CEO gains defense, arguing that Hoskinson engages the community all the time and that is alright. The user also adds that everything the ADA founder says is always backed with facts.
The long post that received a massive upvote and comments ends with the user expressing positive sentiments about Cardano. The user admits to being excited about the project, saying it has great potential.
The Quora community is much about Cardano’s prices. However, most users seem to have hopes for the coin and believe it will reach a milestone by the end of 2021.
Users began speculating on Cardano early in the year, and some even believe 2021 is the year the Ethereum challenger will hit $10.
Cardano is one of the few blockchain projects that seem to have a bright future with their unique smart contracts and decentralized applications capabilities. It is a challenger to Ethereum, the second-largest cryptocurrency, and impressively ranks fourth despite being only four years old.
Although Cardano never saw a significant rise in price, including during the 2017 bull run, it recorded impressive growth in 2021, sparking interest in the coin. The crypto community has been having different opinions about the coin, and so we did a comprehensive guide on Cardano ADA to help you take a position about it.
Our guide captured essential aspects about Cardano from its inception and how it found the name Cardano and ADA, and its trend in prices since the first day of trading on exchanges. Also, we briefed you on the various ways of acquiring the coin, including a list of what we consider the best platforms to buy Cardano and a step-by-step guide. Our article also helps you know the various ways you can invest in Cardano or even use it for other purposes like buying goods and services or donating to charity.
Simply put, this guide briefs you about nearly every aspect of Cardano and places you in a suitable position for making decisions about Cardano.
Cardano is a cryptocurrency with great functionality due to its smart contracts and decentralized finance capabilities. So, yes, Cardano is a good investment. The coin may not have achieved the greatest gains in prices, but its future is inarguably bright. The platform is in continuous development and already irked beneficial partnerships. Some of the partnerships include its deal with the Ethiopian government and the University of Illinois. Such major partnerships and use cases set up Cardano for an explosion soon.
Yes, Cardano is very much similar to Ethereum. They both endeavor to provide smart contracts and dApp functionalities. Cardano was also created by Ethereum co-founder Charles Hoskinson and is often regarded as the Ethereum challenger.
No, you cannot lose ADA from staking. The staking fees are usually deducted from the rewards you earn, so you can never end up with fewer ADA coins than you started.
The best way of buying Cardano is to acquire it from an exchange. There are numerous exchanges and brokerages, and they all differ in various aspects, but you can still find a great platform. Some even allow you to buy using fiat directly and at a minimal cost.
There is no individual owner of the Cardano network and ADA coin. The idea was from Charles Hoskinson, but Cardano is an open-source and decentralized project overseen by the Cardano Foundation, Emurgo, and Input-Output Hong Kong.
