Last Updated on January 4, 2023
While there are a wide variety of cryptocurrencies available on the market, not all of these digital coins are going to be as profitable as each other. Because of this, anybody hoping to get involved in the world of crypto is going to have to choose their ventures wisely if they want to see a profit.
Fortunately for anybody interested in purchasing Cardano (ADA), it’s a straightforward process – meaning that you can typically buy these coins without any hassle. With this in mind, let’s take a look at all the info you’re going to need.
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First things first, it’s important to know where to buy ADA. Here are some of the best exchanges on the market that we think you should consider before investing:
1 Providers that match your filters
Cryptocurrencies are very volatile and overall a risky investment. 69% of investor accounts lose money when trading CFDs
As one of the top crypto exchanges out there, it shouldn’t come as much of a surprise that eToro is on our list.
There are several reasons why this platform has risen in popularity and maintained success over the years; from its wide range of available cryptocurrencies (including Bitcoin, Ethereum, Cardano and many more), to the general simplicity and ease of use that makes it such an appealing option for beginners. Features like Copy Trader and much more work together to help users ensure they’re getting the most out of the platform (and their trading efforts).
Overall, most people will find that eToro is a good choice for anyone looking for a safe, secure and simple crypto exchange. While tailored towards those just starting out in many ways, it’s a platform that essentially any trader will be able to take advantage of – and this isn’t something you’re going to want to overlook.
How to buy Cardano on eToro
*all trading involves risk
If you’re hoping to find a platform that doesn’t charge any commissions or fees, Capital.com could be a good fit. Not only is it simply superb in comparison to many others on the market, there’s also a smartphone app for both Android and iOS devices, which only adds another layer of convenience.
Several factors help to make Capital.com a worthwhile selection; from the fact that it’s regulated by the FCA, to the 24/7 customer support offered to their users. You’ll also get to enjoy features like award-winning AI and a variety of trading assets, further improving your overall experience with the site.
All in all, there are a lot of things to love about Capital.com, which is one of the key reasons why it’s one of the most popular options out there right now.
Binance is another popular exchange that we’re certain you’re going to enjoy. Featuring more than 365 cryptocurrencies, this platform offers some of the most widespread opportunities for investments. There’s much more on offer too, such as the low fees and overall simplicity. With all this in mind, we just had to put it on this list.
Of course, it’s always best to do your own research before signing up. It’s no secret that this platform has had its ups and downs, so it might be worth looking into some of the potential issues before you decide to create an account.
Another popular exchange that we think you should check out is Coinbase. On this platform, you’ll find that buying and selling cryptocurrency is just as simple as trading stock, and overall offers a lot of features to improve your trading experience. If you want to get even more out of using this website, you may want to upgrade to Coinbase Pro.
The fees found here can prove to be a little high, but they do get lower when you upgrade your account. This isn’t always a huge deal for investors, but it is worth keeping in mind as everybody’s needs are different.
If security is your main concern (it should be quite important when it comes to your finances), using an exchange like Gemini might be a good idea. Many people choose to sign up to Gemini for their strong security measures, but some other features help to make it an appealing choice, such as their educational resources, a wide range of cryptocurrencies and overall capabilities for trading.
While some beginners may find it a little complex or pricey in terms of fees, it has plenty going for it regardless.
While one of the oldest platforms on this list, Kraken is still one of the best options out there. It offers more than 50 cryptocurrencies, including Cardano, and overall has a simple-to-use interface.
It may not be perfect in every way; having higher fees for those who aren’t using Kraken Pro and some reports from users that claim to have lost funds due to hacks. It’s still one of the pioneering cryptocurrency exchanges however, and continues to provide users with an easy-to-use base for operations that has stood the test of time.
First of all, you’re going to want to find a platform that will facilitate your trading needs, as not all exchanges support Cardano at the moment (more may do so in the future). Fortunately, you’ll find that the ones listed above already play host to this crypto, so you shouldn’t have any issues getting involved with trading (outside of choosing the right one for you).
Once you’ve decided on the most relevant platform, the next move will be to sign up. The great news is that the registration process is fairly simple on most platforms, to make it easier for you to get trading. The overall task may vary slightly from one site to another, but in general, the steps and requirements won’t differ too much. Usually, they’ll ask for your first and last name, email, and phone number (aside from creating a password, that’s pretty much going to be it).
Even if they use two-factor authentication, it shouldn’t be a hassle signing up. All this means is that you’ll need to enter a code that’s sent to your email or phone whenever you want to sign in. It may be inconvenient at times to have an extra procedure, but the additional security is often going to be worth it.
Once that’s all done, you’ll often need to verify your identity to ensure that no illegal activity is present. Typically, this Know your Customer procedure will require things like a valid ID, your date of birth, a physical address and your social security number. Any reliable exchange will want to confirm the identity of their users, so be prepared for this, as well as be wary if a site doesn’t ask.
Having an idea of what your trading strategy is going to look like before you start is likely to be pivotal in your success moving forward. If you haven’t figured one out already, it may be worthwhile to do just that. Consider how much you’re willing to put into your endeavours (and how often), when you’re going to sell, and similar questions.
Now that you’ve created a plan of action and have a platform to facilitate your investment needs, it’s time to buy some Cardano. Take a look at what payment methods are available on the exchange (in general, the most common ones will be accepted, from PayPal to debit and credit card), pick the one that best suits your needs, choose how much you want to buy, and you should be good to go.
There’s generally a broad range of factors that can help you to choose the right exchange for you. While the ones we mentioned earlier are a great place to start, it’s still important that you do your own research to ensure you make a worthy selection. If you’re still not quite ready to get signed up to a platform, here are a couple of things that may assist you:
One of the most important things to do when choosing a platform is to consider how well they will be able to keep you and your money safe. There have been far too many stories over the years of hackers who have managed to breach the security systems of both exchanges and wallets, to steal coins and personal data. It is essential to look into the details before signing up to anything.
Alongside the point above, you need to get a better idea of the platform’s history before you can fully trust it with your investments. Look out for things like hack attacks, who the developers are, or even how much time they’ve been in the business to determine whether or not they seem trustworthy enough for you to work with.
Some platforms have a subscription fee, while others charge a small amount on trades, withdrawals and more. These types of costs are important to consider if you’re looking for a good place to make your investments. After all, if you’re going to pay out more in fees than you gain in trading, it’s not going to be a worthwhile sacrifice. Most platforms will have their own way of making money for their services, so be sure to take the time to delve a little deeper into what they provide and for how much.
Even if you want to invest solely in Cardano, having the ability to purchase other coins at the same time can certainly be a bonus. Because of this, it’s generally a wise idea to consider exchanges that not only offer ADA, but also other cryptos. The ones mentioned above all have a variety of options, so you won’t have to worry about limiting yourself if you’d like to diversify your portfolio.
Not all platforms are available worldwide, due to the varying restrictions and regulations in place in different locations. This means that it’s always worth doing a little research before signing up to any sites to make sure that their services will be available in your area.
Selling your Cardano tokens should be just as easy as buying them. Simply go to your exchange and follow their instructions and you shouldn’t run into any problems. You can even sell cryptocurrencies outside of exchanges too, like at a crypto-based ATM for example, or via direct transfer with a friend. Don’t forget that these were developed to offer a newer, more innovative way to purchase goods and services, so you should be able to use them in other ways outside of trading, too.
In general, two of your main options for storing these tokens are hot wallets and cold wallets. It’ll be worth looking closer into each of these to get a better idea of what type of Cardano wallet will be best for you.
If you’re looking for a quick, convenient and easy way to store your digital coins, it’s certainly worth considering using a hot crypto wallet. These crypto wallets are functional online, so they’re usually accessible whenever you have a connection (some are web-based and others come in the form of applications). They can be a great choice if you’re looking for simplicity – although overall, they do tend to be a less secure option.
On the other hand, cold wallets are hardware and don’t need the internet to be accessed. These may not be quite as convenient, but they do tend to be a safe choice, especially if you’re hoping for long-term storage or a place to keep large amounts of crypto. For day trading needs, these may not be necessary, but for storing big money, it’s definitely worth looking into what some of the more popular cold wallets could do for you.
While we’ve dug deeper into how you could buy ADA and store some of these digital coins, we haven’t discussed the reasons why this particular cryptocurrency can be a great investment opportunity. Here are a few of the things that make ADA worthwhile:
The world of crypto is vast and varied – and with so many new currencies being developed every week it seems, it can be difficult to know where to invest next. Cardano is establishing itself in the community with innovative ideas, a solid roadmap and features like high speed, so it’s certainly looking like an attractive investment vehicle for a whole host of traders. The fact that you can buy, sell and trade it on multiple platforms is further proof that it could be time to get involved; especially while it’s still affordable.
There are generally a few ways to purchase these digital tokens and a good example is through an exchange. Outside of this, direct transfers and crypto ATMs are great options for those who would prefer them over signing up to a dedicated platform.
While it’s hard to say for sure what the future of Cardano holds, there are plenty of industry experts who believe that Cardano could rise to $100 by the end of 2022 – and potentially more than that if it takes off and continues to grow and expand in the crypto community.
In general, you’ll find that selling Cardano is easy enough, and you can often cash out into either fiat currency or other cryptos, depending on what it is you’re after (and what the platform you’re using facilitates). In any situation, it’s best to take a look into what the different exchanges are and what they offer to make sure that you’ll be able to cash out when needed.
Cardano is currently considered to be the alt-coin of the moment, with a huge potential for success. This is one of the main reasons why several experts are expecting it to explode very soon. With this in mind, if you don’t already have any Cardano tokens, now could be the best time to get involved.
Cardano uses the Proof of Stake (PoS) blockchain.
Buying Cardano is fairly easy on most cryptocurrency exchanges. You will need to provide your email address, attach your bank account or any other accepted payment method. After that, you will be able to buy and sell Cardano.