How to Buy Cardano (ADA)
One of the most exciting things about the crypto world is the fact that currencies evolve all the time.
New investment opportunities arise while the cryptocurrency space keeps growing non-stop.
In this case, we are talking about Cardano (ADA), a third-generation cryptocurrency that many crypto enthusiasts are hoping to have in their Crypto Wallet.
Specifically, we’ll be discussing the best ways to buy Cardano instantly, so you can make the best out of your crypto assets.
Continue reading this blog post to get more information about:
- How to buy Cardano online;
- Important things you need to know before you purchase ADA;
- Best cryptocurrency exchanges to buy ADA.
What Is Cardano (ADA)?
ADA is defined as a cryptocurrency that runs on Cardano’s blockchain.
The Cardano blockchain allows the creation of smart contracts and decentralized applications, while also supporting a Cardano purchase from most popular crypto exchanges out there.
But why are crypto investors looking to buy and sell ADA?
- Long-term potential: ADA is the 5th largest crypto by market cap, so ADA price is expected to increase in the years to come;
- ADA and Cardano are energy efficient: people that buy crypto often have concerns about the environment - ADA uses fewer gigawatts per hour than BTC or ETH, while is also used for settling payments efficiently;
- Buying ADA is easy: you can buy coins of Cardano from your favorite crypto exchange.
Where To Buy Cardano?
Fortunately, finding a cryptocurrency exchange that sells Cardano isn’t so hard.
Naturally, all major cryptocurrency exchanges offer different payment options and minimum deposit requirements that you should analyze before creating a trading account.
Still, since Cardano is big enough, you won’t have major problems if you want to buy ADA.
Binance
All crypto enthusiasts out there know Binance.
Binance is the world’s largest crypto exchange, so you can quickly create an account and buy ADA at your will.
On top of that, you’ll be able to send Cardano to anyone with their Cardano address using Binance Pay.
KuCoin
KuCoin’s official trade page allows you to buy, sell and store ADA easily.
Also, the private keys provided by KuCoin are safe to use wherever you are.
Gemini
Gemini is one of the most used exchanges to buy cryptos using FIAT currency with low fees.
Naturally, you can also check Gemini to see coin prices or buy ADA.
How To Buy Cardano (ADA)
Regardless of the exchange you are going to use, there will be some transaction fees that you need to take into account once you decide to purchase this token.
For practical purposes, in this guide we will show you how to buy Cardano on Binance.
Binance has proven to be one of the most easy-to-use exchanges out there.
Besides, it’s a world reference for all other exchanges, so purchasing Cardano (ADA) on other platforms should be similar enough to the steps we are about to give you.
Step 1: Log In to Your Binance Account
Of course, you first need to log in to your account in order to purchase ADA.
Although you can indeed use Binance without verifying your profile, it will be a little harder to make all the operations properly.
Therefore, we recommend you check our Binance KYC Verification blog post to learn more about this.
You’ll be asked for your driver’s license, bank account details, and more information to verify transactions, but it’s all worth it.
Step 2: Start Buying Cardano with Your Favorite Payment Method (Credit or Debit Card)
Right before you buy ADA, you need to verify a payment method.
Fortunately, most common payment methods are available in Binance.
You can pay with your debit card, credit card, bank transfer, wire transfer, and more.
Keep in mind that wire transfers have greater fees than previously mentioned methods.
Learn more about Binance Fees here.
Step 3: Seld, Hold, or Trade ADA
Finally, in order to finish your purchase, go to the “Buy Crypto” or “Buy Now” option and find the ADA trading pair you are looking for.
Alternatively, you can directly click here.
This single trade will result in a certain amount of ADA transferred to your Binance account.
Confirm the operation and you’ll be good to go.
You can, later on, move these funds, trade with them or sell them if you please.
That’s about it! Buying ADA on Binance is really intuitive and straightforward.
How To Buy Cardano FAQ
Can I Store ADA on Hardware Wallets?
Yes, you can store your coins in a hardware wallet and in software wallets as well.
Using a hardware device, such as Ledger Nano X, will allow you to have your funds in a safer place in case you want to store large quantities of this coin.
In any case, recurrent traders might as well choose to keep their ADAs in exchanges.
Is Buying ADA a Good Investment?
There’s always a risk when it comes to buying or trading cryptos. If you think the coin is going to perform well over the next few years, as many cryptocurrency users do, then go for it. At the end of the day, it’s your choice.
Karen is a senior technical writer and copywriter here at GrowFollowing. Her area of expertize are social media apps and new media.