Launched in 2017, Cardano is a decentralized proof of stake (PoS) blockchain that aims to compete with Ethereum and other proof of work (PoW) applications.
Where can you buy Cardano cryptocurrency as a beginner? And how can you buy Cardano ADA? In this guide, we’ll dig into where to buy Cardano, how to buy Cardano coin, and more.
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In This Guide
Looking to buy Cardano ADA? First, you’ll need to find a crypto exchange broker. For this guide, we recommend Etoro, one of the higher-rated and popular platforms out there. Check out these 4 simple steps below to get started.
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Founded by Charles Hoskinson, one of the co-founders of Ethereum, Cardano was built after Bitcoin and Ethereum as a third-generation decentralized blockchain. The Cardano network is the first PoS blockchain and aims to be more scalable, cost-effective, and interoperable than its decentralized predecessors.
ADA is Cardano’s digital currency with a $63 billion market capitalization, making it the 5th largest cryptocurrency by market cap. It’s also an open-source blockchain, meaning the source code is publicly available for anyone to use, distribute, and add to.
Many blockchain communities back the network, always pushing to buy Cardano ADA. With what Cardano has to offer, there’s reason to believe many of these communities. Being a very popular and trading digital currency, it should be relatively easy for beginners to find out how to buy Cardano coin as well.
Much like how there are blue-chip and penny stocks in the stock market, there are major cryptos and smaller altcoins. Being one of the top 5 cryptocurrencies, Cardano can be likened to buying a blue-chip stock for crypto.
So why is Cardano so high up in the ranks in the major cryptos in circulation? To put it simply, it has strong fundamentals. The Cardano blockchain is the first of its kind in PoS and is constantly being updated by a strong development team behind it.
Cardano’s goal is to be research and data-driven which is a different positioning from its rival, Ethereum (ETH), which looks to trial and error to improve its product.
Perhaps these features have driven many to buy Cardano ADA and helped build many to continue backing the coin despite recent backlash on the blockchain’s model and viability.
Similar to buy Bitcoin or other cryptocurrencies, users can buy Cardano Coin through social trading platforms or cryptocurrency exchange brokers. For first-time buyers of crypto, you’ll need to create an account in one of the platforms and make a minimum initial deposit.
Depending on the broker or exchange platform, the price of the deposit may vary. For example, eToro can charge $50, $200, and even $1,000 for the first deposit depending on your country.
There are also some fees that users need to consider when using trading platforms. Some apps charge commissions or spreads. The Binance platform, for instance, charges a 0.1% spot trading fee and 0.5% Instant Buy/Sell fee.
If you’re looking to day trade and how to buy Cardano coin you can check out several day trading crypto exchanges and choose the best for you.
Currently, it’s not possible to directly buy Cardano ADA from PayPal. However, if you’re still figuring out how to buy Cardano coin if you have a PayPal account, there is a way. Simply use your PayPal account to fund your eToro or Binance account.
If you have a Bitcoin wallet that you want to use to buy Cardano ADA, you can fund your crypto exchange account using Bitcoin (BTC).
Alternatively, after you buy Cardano cryptocurrency, you can store it in crypto wallets.
If you’re trying to figure out where to buy Cardano, it’s best to first check how safe the platform is. Normally, you’d want to get a regulated broker or crypto exchange platform.
Depending on the crypto exchange platform or broker, you’ll probably also have a crypto wallet. Platforms like eToro have one built-in, but for Binance, you’ll need to connect one. Crypto wallets use encryption, so it’s also best to keep the private keys only to yourself as a practice of safety.
When buying any cryptocurrency or equity, as a matter of fact, trading always carries with it some risks.
60-70% of traders lose money after 4 months, and riskier beginner traders who use CFD platforms lose much more. The leverage feature is available allows for a multiple increases in earning, but it increases the risk by the same factor.
You’ll be able to find where to buy Cardano with leverage (eToro and Binance offer it), but it is recommended that beginners do not start trading with leverage. Aside from more fees to pay the longer a user holds, there’s also the risk of accounts being fully liquidated when stop losses are hit.
If you’re confident with your Cardano price prediction and willing to take more risk, you can try out trading on leverage with a small amount of capital at first.
Depending on the crypto exchange that you’re using, it shouldn’t be hard to find a ‘sell’ option for your owned Cardano coins.
Users shouldn’t worry too much about liquidity problems as ADA is the 5th largest cryptocurrency. This means there’s always a relatively high trading volume, so when you need to liquidate your coin, there will be good selling options available.
If you’re looking where to buy Cardano, you should opt for a crypto exchange platform. Below are two trading platforms that we recommend.
eToro is the best platform to buy Cardano and is one of the most top-rated crypto exchange platforms as it is well regulated, has millions of users, and is easily accessible. The site has useful features like a mobile app, demo trading, social trading, and more.
For beginners, demo trading is highly recommended before spending real money that can put novices at risk. If you’re looking on how to buy Cardano coin without initial capital, you can use virtual currency to test out your Cardano price prediction.
Another good feature of eToro is its mobile app. Most of the functions on the web platform can be done in the app – buy and sell, view charts, and copy trading among others.
There are also no commission fees with eToro. However, eToro has a 1.90% spread for cryptocurrencies and a fee for withdrawal. If you treat trading like a business, you can consider these costs in your trading strategy so it isn’t a big problem later on.
eToro also positioned itself as a social trading platform. This means that users are free to share their opinions on any particular equity. Furthermore, users also have the option to copy trade where they can copy public profiles if they think they will be successful in their trades.
The highly-rated app is also highly convenient as it offers multiple payment options as well as its own crypto wallet with 24/5 customer support.
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Cons
One of the most popular crypto exchange platforms is Binance. It was founded back in 2017 in Hong Kong and has since been the leading exchange site. Binance prides itself in the variety of altcoins users can trade from with over 500 cryptocurrencies, virtual tokens, including Bitcoin, Ethereum, Litecoin, and Cardano.
The platform is often recommended for more advanced traders. Its highly technical platform and interfaces coupled with high amounts of leverage options when it comes to trading make it a little less beginner-friendly than other platforms. It’s also an excellent NFT trading platform for those looking to get into the NFT space.
If you want a better guide on how to buy cryptocurrencies online, you can search up a few strategies on some educational trading sites.
What about Binance’s fees? In terms of spread, it’s about 0.10%, it’s actually possible to reduce this to 40% by having BNB currency. BNB is the issued crypto coin by Binance that’s used to transfer value among the different cryptocurrencies.
Also, the minimum deposit requirement for Binance is around $20 when using credit or debit cards. Take note that the minimum amount of money that must be spent per trade is $10, so when executing transactions, make sure you use at least $10.
As of 2018, the Binance exchange platform moved its company headquarters to Malta, EU after China’s looming regulations on crypto. Recently China has also been cracking down on the crypto business as well.
Pros:
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Confident with your Cardano price prediction? Here is a step-by-step on how to use eToro to buy Cardano.
Go onto the eToro website and create an account. If you have a Facebook or Google account, you can use that to sign up too.
eToro requires all its users to verify their identity. To do this, simply upload a clear copy of your driver’s license or passport which can be scanned or pictured. The platform also requires proof of address which can be shown through a utility bill.
Before you can start crypto trading, you’ll need to fund your account. The minimum initial deposit for eToro is $50. As for payment methods, many are available – credit card, bank transfer, PayPal, Netellter, or Skrill. Do note that these payment methods may vary depending on where you live.
You can also link your crypto or Bitcoin wallet to eToro so that you can use those funds to trade as well.
Finally, you’ll be buying Cardano! Go to the search bar and type the ticker symbol ADAand click the ‘Trade’ button when it pops up. In the order form, enter how much you want to buy ADA.
67% of retail investor accounts lose money when trading CFDs with this provider.
In this part, you can also set your stop losses and take profits. This allows you to close a trade when it reaches a certain price. Make sure to review and fully understand your trading strategy before attempting to use these features.
The reason why Cardano has ballooned to the 5th most popular cryptocurrency is because of its strong fundamentals. Whether or not you agree with its model, its current specs show that it has a strong base and community to back it up.
Being a popular digital currency, it’s not difficult to find where to buy Cardano. As its following increases, so does the ease of new retail crypto investors getting in the wagon.
Want to start investing in Cardano Coin? Buy ADA today through eToro – click the link below and start your Cardano Coin investment journey.
What is the market cap of Cardano Coin? Cardano Do I need a crypto wallet to buy Cardano Coin? Yes, you need a crypto wallet in order to buy Cardano Coin crypto. Most crypto exchange platforms have a built-in crypto wallet. On the other hand, you may opt to find a third party wallet to store crypto. Can I buy Cardano Coin stock? Similar to other cryptocurrencies, Cardano Coin is a digital coin and is not available to purchase from the stock market. If you want to buy Cardano Coin coin (ADA), you will need a crypto exchange platform. How much money do I need to buy Cardano Coin? Depending on the minimum initial deposit of your crypto exchange platform, you may need to deposit $50 and higher to start trading. However, because the price of Cardano Coin is still in the $1-3 range, you don’t need a lot of capital to buy a bunch of Cardano coins.
Cardano
Yes, you need a crypto wallet in order to buy Cardano Coin crypto. Most crypto exchange platforms have a built-in crypto wallet. On the other hand, you may opt to find a third party wallet to store crypto.
Similar to other cryptocurrencies, Cardano Coin is a digital coin and is not available to purchase from the stock market. If you want to buy Cardano Coin coin (ADA), you will need a crypto exchange platform.
Depending on the minimum initial deposit of your crypto exchange platform, you may need to deposit $50 and higher to start trading. However, because the price of Cardano Coin is still in the $1-3 range, you don’t need a lot of capital to buy a bunch of Cardano coins.
Jose Rafael Aquino is a Filipino writer and entrepreneur that specializes in finance, technology, cryptocurrency, and sports. Versed in the startup tech space, he has written for websites such as The GUIDON, StockApps, and BuyShares.
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