How To Buy Cardano (ADA) With Credit Card, Debit Card, Paypal & eWallets
This is a beginner’s guide on how to buy Cardano instantly on different brokers and exchanges.
You’ll also learn how to use different secure payment methods accepted by most platforms, like PayPal and credit cards.
What is Cardano? Is it a good investment? How can I buy Cardano (ADA) in 2022 instantly? Which is the best broker to buy Cardano? Do Cardano dispensing ATMs exist?
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. 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.
We will tell you where and how to buy Cardano and introduce you to some of the best ADA exchanges. Our guide also includes step-by-step guides for buying Cardano on various platforms, how to buy Cardano with debit card, how to buy Cardano with Paypal, how to buy Cardano with credit cards, and more.
How to Buy Cardano (ADA) Instantly in Three Quick Steps
Step 1: Create an account
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.
Step 2: Fund account
After creating and verifying your account, deposit 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 card, debit card, and Bank transfers.
Step 3: Buy Cardano (with or without leverage)
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.
How Does Cadano Work?
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.
How is Cardano (ADA) Different or similar to Bitcoins?
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.
Consensus Algorithms
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.
Purpose
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.
Transaction Speed
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.
Supply
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.
Cardano (ADA) Historical Price Performance
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.
What Factors Influence Cardano (ADA) Price Action?
Market Sentiments: Generally, all cryptocurrencies are speculative investments whose value is heavily dependent on market trends. ADA is no exception, so its prices could surge or fall based on the prevailing market conditions.
Media Influence: News about the Cardano network also has a remarkable impact on the coin’s prices. If the media makes positive coverage about the network, the crypto community gets excited, pushing the coin’s value up.
Adoption and Use Case: Expansion of use cases for the Cardano network and ADA will increase adoption and push the coin’s prices up. Additionally, mass adoption by the crypto community as an alternative to Ethereum will still inspire a price surge.
Network Upgrades: Blockchain upgrades positively impact a coin’s price, as evidenced by ADA’s strong performance in early August 2021. The coin’s price rise is linked to the expected AlonzoPurple upgrade on ADA’s network.
How to Invest in Cardano?
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.
Buy and Hold (Long-term)
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.
Cardano CFD Trading (Speculate on the movement whether it’s up or down)
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 with 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.
How to Buy Cardano Guide
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:
How to Buy Cardano with a Credit Card or a Debit Card
There are many upsides associated with making payments with a credit card or a debit card payments on crypto exchange platforms like eToro, and this makes them one of the most preferred payment options. For instance, when making a credit card payment or a debit card deposits it will free on eToro; 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.
How to Buy Cardano with PayPal
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.
How to Buy Cardano with eWallets (Skrill, Neteller)
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.
How to Buy Cardano with Bank Wire
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.
How to Buy Cardano Anonymously (Without ID Verification)
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.
What are the Pros and Cons of Buying Cardano (ADA)?
Pros
Cardano is affordable and has great growth potential: Currently trading slightly above $2, ADA is one of the most affordable and promising coins to buy today. The Cardano network provides users with a host of services, including the creation of decentralized applications, which are the future of banking which positions ADA as a coin with a high potential to grow.
Fast and cheap Transactions: Cardano is often regarded as the Ethereum challenger. One of the things it does better is providing fast and cheap transactions ideal for trading. The network can accommodate more transactions per second to the tune of 1 million tps, plus the transactions cost between 0.16 and 0.17 ADA, the equivalent of a penny or two.
Ease of access: ADA is a large cryptocurrency that ranks high on Coinmarketcap. The coin is listed on multiple reputable exchanges and brokerages so you can easily access it and trade. Simply choose a platform and acquire your ADA coins.
Cardano is eco-friendly: The Cardano network uses the proof of stake consensus algorithm, and thus its mining is sustainable. It does not face the risk of regulation hurdles over environmental concerns.
Cons
Cardano is still developing: Although the Cardano network and ADA are fully operational, the network is still in the development stage. The network’s smart contracts and token standards are still incomplete.
Most ADA coins are staked: As of this writing, over 70% of ADA coins are staked in pools. It creates a scarcity in the amount of ADA in circulation, and this could be the only reason why the coin’s price is rising in 2021.
Highly risky: Volatility cuts across the entire industry so Cardano is no exception. The value of a coin can change dramatically within a short span, and this makes investing in any cryptocurrency a high risk.
Cardano’s fees could go up: Transaction fees on Cardano are currently low, an indication that there is no high demand for space on the blockchain. However, this could soon change when more smart contracts and decentralized applications start taking shape on the network as they will demand more space.
What do You Need Before You Can Buy Cardano (ADA)?
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.
How Much do You Need to Buy Cardano (ADA)?
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 Cardano 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.
Where can You Buy Cardano Today?
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 the 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.
How to Buy Cardano at an ATM?
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.
Find a Boinnex Bitcoin ATM near you. You could use a mapping service or a Google search.
On the ATM, select your preferred icon.
Scan your wallet address’ QR code
Insert your fiat currency into the ATM’s bill acceptor
Select ‘Buy.’
What to Look for in a Cardano Trading Platform
Now that you know how to bo buy Cardano, it’s time to find out where to buy Cardano. Before we list some of the best platforms, here are some of the things to look for in a Cardano Trading Platform;
Transaction Costs: Exchange platforms charge users fees and commissions, but the amount differs from one to another. Before settling for a platform, make sure you know the types of fees and any other associated costs. You can compare them from several platforms and sign up where there are fewer costs.
Reputation and Security: You want to work with a platform that can guarantee the safe custody of your Cardano. Hence, you need to assess how secure the different platforms are before signing up. Confirm the type of wallets used and how the exchange holds its reserves. Also, look for reviews of different exchanges and only create an account and start trading with a reputable platform.
Available Payment Options: Most exchanges and brokerages have a couple of payment methods, but it’s good to confirm that both the exchange and your country support your option. Payment methods also vary in deposit and withdrawal fees and minimum deposit amounts, so make sure you are exploring your most suitable option.
User Interface: Of what use is a platform you can barely get through the account creation and verification? The ideal Cardano trading platform is user-friendly. Otherwise, it could be confusing and render an unpleasant experience. You can try out different exchanges before finally buying Cardano. Platforms providing demo accounts can be great to try and get first-hand encounters with them, but you can still check out their user reviews.
Whether it’s your first time in the cryptocurrency space or you are out to add Cardano to 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 card, debit card, 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.
The Pros and Cons of Buying Cardano (ADA) on eToro
Pros
You can trade real coins or Cardano CFDs
The FDIC insures deposits
Deposits on eToro are free
Users get a free demo account
Cons
Platform charges a conversion fee since it only has the US dollar as its base currency
Advanced support is only available to the members of the eToro club
Significantly high minimum deposits for some countries
How to Buy Cardano (ADA) on eToro – Step By Step Guide
Visit the platform’s website and select ‘Join Now.’
Fill in the details to complete the account creation and verification process.
Log in to your new account and click on ‘Trade Markets.’ Select ‘Crypto’ and choose Cardano (ADA) from the list.
Customize your trade by specifying the amount of ADA you want to buy and Open the trade.
Select a payment method and fund your account, then authorize the trade.
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.
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 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.
Pros and Cons of Buying Cardano (ADA) on Capital.com
Pros
Capital.com has an ideal customer support
Provides users with different account types plus ten demo accounts and ten live accounts
The platform uses excellent technology with a great user interface
Competitive trading fees plus fast order execution
Cons
You cannot trade Cardano CFDs in the UK or the US
Leverage trades on Capital.com may be unattractive to professional traders
Capital.com has limited trading pairs
How to Buy Cardano (ADA) on Capital.com – Step By Step Guide
Visit Capital.com’s official website and select ‘Trade Now’ to set up and verify your trading account.
Log in to your new account and select ‘Deposit.’
Choose a payment method, specify the amount you want to pay, and proceed with the prompts.
Find the Cardano CFD trading pair on the dashboard.
Decide whether to go long or short and customize your trade with your amount, maximum leverage, and the risk management tools like the stop-loss order and take profit points.
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 card, debit card, 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.
Pros and Cons of Buying Cardano (ADA) on Coinbase
Pros
Deposits on Coinbase are held securely on cold wallet storage and are insured by the FDIC
Coinbase has low minimum deposit requirements
Users get a free mobile wallet app
The platform has an excellent user interface
Cons
The platform does not support anonymous purchases
There are concerns about the platform freezing of deposits and closure of accounts
You cannot trade in crypto derivatives like Cardano CFDs
How to Buy Cardano (ADA) on Coinbase – Step By Step Guide
Visit the Coinbase website and click on ‘Create Account’ to start your account creation and verification.
Log in and go to the ‘Portfolio’ and click on ‘Deposit Funds.’ A range of applicable payment methods will appear. Choose one and proceed with the prompts that follow to deposit.
Find the ‘Buy/Sell’ icon at the top right corner of your dashboard and click on it, then choose Cardano from the list that appears.
Customize your trade with the amount.
Click on ‘Buy Cardano Instantly’
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 card, 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.
Pros and Cons of Buying Cardano (ADA) on Binance
Pros
Provides users with a free inbuilt wallet
Does not charge for crypto deposits and withdrawal
Allows users to trade real Cardano and Cardano futures and CFDs
Binance has a responsive support team
Cons
It does not support direct fiat deposits
Binance is still unavailable in some US states
There have been reports about the exchange being a little complex for a beginner
How to Buy Cardano (ADA) on Binance – Step By Step Guide
Go to the Binance website and click on ‘Register Now.’ If you are a US resident, use the Binance US website.
Create and verify your account for you to be free to trade over 2 BTC worth monthly.
Log in to your new account and proceed to ‘Buy Crypto.’
Fund your account with another cryptocurrency or select ‘Third-Party Exchange’ under the ‘Buy Crypto’ icon for you to be able to buy Cardano via an integrated exchange like Banxa or Paxos.
Find your preferred crypto on the dashboard and place your limit buy or market orders.
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 paying with credit card, debit card, 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.
Pros and Cons of Buying Cardano (ADA) on CoinMama
Pros
CoinMama allows you to buy Cardano almost instantly
Highly responsive customer support
Excellent user interface
High buy limits for verified accounts
Cons
CoinMama does not provide an inbuilt wallet or a wallet app
You can only buy but not sell Cardano on CoinMama
The 5.5% transaction cost is a little high
How to Buy Cardano (ADA) on Coinmama – Step By Step Guide
Sign up with the CoinMama website and choose to create an account. Complete the account creation process, including the email verification.
Confirm your identity by providing the platform with a selfie and a copy of your identification document.
Log in to your new account and select Cardano from the drop-down list. Enter the amount you want to commit to the trade.
Provide the wallet address where you intend to store your Cardano.
Choose your preferred payment option.
Confirm the details and click on ‘Send.’
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 with credit card or debit card on Kraken. You can also but cardano with Bank Transfer, PayPal, 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.
Pros and Cons of Buying Cardano (ADA) on Kraken
Pros
Kraken integrates several security measures to ensure the safe storage of tokens
It has a great user interface and appeals to both beginners and professional traders
The platform publishes its reserve audit reports
Allows you to trade real Cardano and derivatives
Cons
Kraken is claimed to have a poor customer support
Deposit and withdrawal options are limited
The verification process is a bit slow
How to Buy Cardano (ADA) on Kraken – Step By Step Guide
Go to the Kraken website and select ‘Get Started’ to open your account.
Decide your preferred verification level and provide the necessary documents.
Fund your account.
Check your dashboard and decide if you want to place a market order or a limit order for Cardano.
Note: Your Cardano coins will remain on the platform’s inbuilt wallet, but you can move them to third-party exchanges or wallets.
Other Ways of Getting Cardano (ADA)
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.
Gift or Tips
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.
Cardano Faucets
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.
Accepting Cardano as Payment for Goods and Services
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.
How can You Use Cardano (ADA)?
HODL as a speculative asset
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.
Trade the altcoin
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.
Pay for goods and services
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.
Donate to charity
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.
Tip or gift to acquaintances or content creators online
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.
What do Reddit & Quora users say about Buying & Investing in Cardano (ADA)?
Reddit
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.
Quora
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.
Our Conclusion
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.
Frequently Asked Questions (FAQs)
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.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
