Cardano is a top-rated blockchain protocol that promotes smart contracts and fast transactions. The project is also home to a popular cryptocurrency token, ADA.
If you want to know how and where to buy Cardano ADA , safely from a regulated broker - this guide is for you.
We will also discuss the ins and outs of Cardano from an investment perspective so you can determine if this digital asset is right for you.
Where to buy Cardano
To find the best place to buy Cardano, you need to research a selection of online exchanges that are suitable for your skill set. Remember to also consider fees and commissions, as well as the regulatory standing of your chosen provider.
Consider the pre-verified platforms rated below when choosing where to buy ADA or other popular cryptocurrencies such as: Avalanche, BNB or Terra Luna.
1. eToro - Overall the best broker to buy Cardano.
The best broker to buy Cardano is eToro. By choosing this broker, you can buy Cardano ADA On a spread-only basis. This means that you only need to cover the gap between the purchase and sale price of ADA tokens. What's more, you can deposit investment funds for free.
This includes everything from debit and credit cards, ACH and bank transfers to PayPal and Skrill. Withdrawals in USD are also available at no charge. Not only is eToro one of the cheapest cryptocurrency exchanges to buy Cardano, it is also one of the safest.
This is because it has licenses with a large number of regulatory bodies, such as the SEC, FCA, ASIC and CySEC. We also like eToro for its wide range of supported cryptocurrencies. In addition to Cardano, this includes other undervalued cryptocurrencies, such as Bitcoin Cash, Algorand, XRP, Decentraland, BNB and more - more than 70 other cryptocurrencies in total.
Regardless of which cryptocurrency you want to buy, eToro requires a minimum trade size of just $10. This will suit those of you who want to buy Cardano and other cryptocurrencies on a budget. If you're looking to diversify without spending countless hours of research on the process, consider eToro's smart wallet.
This will allow you to invest in diversified basket of cryptocurrencies, which in turn is managed by eToro. Alternatively, you can also consider copy trading, which allows you to mirror the investments of an experienced trader of your choice. eToro is also available through a mobile app for Android and iOS that connects to your main account.
If you're a complete beginner, consider opening an eToro demo account, which comes with $100,000 in paper trading funds. This gives you access to live trading conditions - but in a risk-free manner. Finally, eToro is also home to a large selection of commission-free stocks and ETFs.
2. Crypto.com - User-friendly app for buying Cardano
Crypto.com is another online broker that is suitable for beginners who want to buy Cardano in a simple and unencumbered way. The fees at this broker are very competitive, as Crypto.com charges only 0.4% in trading commissions.
And if you trade larger amounts or decide to stakow Cronos CRO tokens, the platform will offer you even lower fees. If you want to buy Cardano using a debit or credit card, Crypto.com charges a fee of 2.99%. While this is more expensive than eToro, it is still cheaper than many other exchanges in the space.
After buying Cardano, you may want to consider diversifying into other cryptocurrencies such as: Chiliz or 1inch .At Crypto.com, you can choose from more than 250 different digital currencies of all shapes and sizes. In particular, this exchange really stands out with its crypto-savings accounts - see how to earn interest on cryptocurrencies.
As the name implies, depositing your cryptocurrencies into your Crypto.com account will earn you interest. The APR will vary depending on the cryptocurrency you want to deposit and whether you are happy to lock in your tokens. Higher returns are also offered when you bet your tokens Cronos CRO.
If you want to increase your exposure to the cryptocurrency industry, you may also want to consider borrowing against digital assets. The LTV at Crypto.com can be maximized to 50%, which is essentially a leverage of 1.5x. Crypto.com can also be used to buy and sell NFTs. On the Crypto.com website, there are thousands of NFT, and buyers do not pay any fees.
3. Coinbase - A simple and fast exchange to purchase Cardano using a debit or credit card
Then we have Coinbase - which is a leading US cryptocurrency exchange with millions of customers on its books. If you are looking for a simple and fast way to buy Cardano, Coinbase accounts can be opened in minutes.
And after submitting your government-issued ID through the KYC process, you can immediately invest in cryptocurrencies using a debit or credit card. If you invest more than $200 in Cardano, you will pay a debit/credit card fee of 3.99%.
If you want to pay lower fees, you will have to deposit funds via domestic wire transfer or ACH. However, take into account that you will have to wait 1-3 business days for the funds to arrive, and the standard commission of 1.49% will apply after purchasing Cardano. Taking this into account, Coinbase offers a convenient way to invest in cryptocurrencies, but the platform is expensive.
What we also like about Coinbase is that the platform offers a super user-friendly mobile app for both iOS and Android. This will connect to your main Coinbase account, so you can buy Cardano no matter where you are. In addition, both the Coinbase website and mobile app duplicate each other as a cryptocurrency wallet.
As for security, Coinbase is regulated , to offer brokerage services. In addition, the platform has since become a public company, with Coinbase shares trading on NASDAQ. Coinbase also implements cold storage systems on 98% of customers' digital funds.
In addition to Cardano, Coinbase also allows you to buy and sell 100+ other cryptocurrencies. This includes the likes of Stellar, Dogecoin and Ethereum, as well as Bitcoin, Shiba Inu and Decentraland. Finally, if you are an experienced trader, you may also want to consider Coinbase Pro - which offers advanced trading tools and charting indicators.
4. Binance - Popular cryptocurrency exchange for trading and buying Cardano
Binance is a major cryptocurrency exchange with reportedly more than 100 million customers. The platform is particularly popular among cryptocurrency day traders, not least because Binance offers access to more than 60+ markets, along with industry-leading fees.
For example, if you were to trade Cardano against another cryptocurrency - such as Bitcoin, BNB or Tether, you will pay a commission of just 0.10% per slide. This means that for every $500 you trade, you will only be charged $0.50.
In addition, Binance operates with a variable pricing structure that rewards higher trading volumes. You can also reduce your trading fees by another 25% by owning a BNB tokens.
However, if you want to buy Cardano using a debit or credit card, Binance charges a huge fee of 4.5% plus 0.5% commission. Therefore, if you want to invest in the fastest way possible, you will have to pay a premium. As for storage, you can keep your Cardano tokens in your Binance online wallet for added convenience.
This way you will benefit from a range of security protocols, such as cold storage and two-factor authentication. The latter includes email and mobile confirmation on every login and withdrawal request. You can also withdraw your Cardano tokens to Trust Wallet, which is a non-custodial portfolio backed by Binance.
In addition to trading and exchange services, Binance also offers accounts with interest on cryptocurrencies. This allows you to generate a profit from investing in cryptocurrencies, and the specific APY will depend on the token. We also like Binance for its iOS and Android app, which connects to your main account.
What is Cardano?
Cardano is a blockchain technology protocol that was created in 2015 by Charles Hoskinson - who is also a co-founder of Ethereum. Unlike Ethereum, Cardano uses a proof-of-stake consensus mechanism that promotes faster and more scalable transactions than its proof-of-work counterpart.
Ethereum, for example, is capable of handling about 16 transactions per second, while Cardano can reach up to 2 million. We say it can, however, because the development team at Cardano is still working on the underlying technology. Like all blockchain networks, Cardano has its own native cryptocurrency - ADA.
As such, when you invest in Cardano, you do so by purchasing ADA tokens from an online exchange or broker. According to various reports, Cardano's transaction fees are 0.16 ADA. As of the date of writing, that amounts to less than $0.15 of operating transfer - which is the case regardless of the size of the transaction.
Another thing to note about Cardano is that the blockchain protocol supports the execution and implementation of smart contract technology. In a similar vein to Ethereum and Solana, this allows people to make contracts without trusting each other, and the smart contract is transparent and implemented only on predefined code.
Is Cardano a good investment?
Cardano is just one of more than 18,000+ cryptocurrencies that can be traded online. And as such, it's a good idea to make sure you're well-versed in what ADA tokens can offer for your short- or long-term investment goals.
In this section, we will examine whether Cardano is a good investment.
According to CoinMarketCap, Cardano launched its ADA on public cryptocurrency exchanges in late 2017 at a starting price of $0.026. This means that at that entry point, an investment of $1,000 would get you more than 38,000 ADA tokens.
Just under four years later in September 2021, Cardano hit a record high of $3.10.
This represents an increase of almost 12,000%. Therefore, if you invested $1,000 in Cardano in 2017, at this price level your capital would be worth almost $120,000.
How does this compare to other cryptocurrencies?
Well, at the same time Bitcoin went from a price of $4,300 to $68,000 - so this is an increase of 1400%.
Ethereum managed to make profits of around 1,200% in the same period. Therefore, based on the aforementioned data, Cardano is doing better than the two dominant projects in the industry.
Cardano may be severely undervalued below $1
We mentioned above that Cardano reached a record high of $3.10 in late 2021. However, at the time of writing in early 2022, the digital currency had fallen to 0.36$.
This represents a decrease of at least 87%. With that said, this drop in valuation is not exclusive to Cardano alone. On the contrary, the entire cryptocurrency market has been stuck in a bearish cycle since late 2021.
So if you're here reading this guide and Cardano is still valued at less than $1 per token, it's probably a good time to consider investing in Cardano.
Proof-of-stake consensus mechanism
Another benefit of investing in Cardano is that the underlying technology uses a proof-of-stake consensus model.
This means that, like Bitcoin and Ethereum, the Cardano network is able to validate transactions without the need for a third party intermediary.
However, unlike Bitcoin and Ethereum - which use proof-of-work, the Cardano network is much more efficient. This means it doesn't need to consume huge amounts of energy to function.
And, as mentioned earlier. Cardano's proof-of-stake framework is faster, more scalable and less expensive than its proof-of-work counterparts.
Low price of tokens
Many investors also like Cardano for its low token cost price. After all, the most this popular cryptocurrency has ever been worth is just $3.10 per token. And, at that price level, a $1,000 investment would receive about 322 ADA.
By comparison, the highest value of Bitcoin and Ethereum in history is about $68,000 and $5,000, respectively. And as such, interesting $ 1,000 in these projects, you would only be able to buy a small fraction of one token.
Partnership with academic centers
Cardano is well known for its application to academic research. And as such, when a project is in the process of considering new updates or changes, Cardano often relies on peer-reviewed academic papers.
This in itself offers Cardano a seal of approval, as the web development is essentially signed off by industry experts.
Cardano's price depends on buying and selling pressure on the open market. Therefore, its value is derived in the same way as any other asset.
However, we should note that, like most altcoins, there is a strong correlation between the price of Cardano and the price of Bitcoin. This means that when Bitcoin does well, it often has a positive knock-on effect for Cardano.
As for how to track the Cardano price, CoinMarketCap offers real-time data from hundreds of exchanges and brokers.
Cardano price forecast
If you're looking for Cardano price forecasts with an eye toward determining the future value of ADA, perhaps a good target point is the previous $3.10 hit in late 2021. And if you are able to buy Cardano at a price below 1$, this offers the potential for an increase of at least 200%.
Cardano price prediction
However, it remains to be seen which way Cardano's price will go, especially given how much competition it faces in the broader blockchain and smart contract space. Solana, for example, is arguably the more efficient blockchain - especially when it comes to fees and scalability.
How to buy Cardano (ADA)
There are many ways you can buy Cardano online in terms of supported payment methods.
Consider the options below when thinking about the best way to purchase Cardano from the comfort of your home.
Buy Cardano with a credit card or debit card
The easiest way to purchase Cardano is by using a credit/debit card. This will allow you to invest in ADA tokens immediately - after opening an account on the appropriate exchange and verifying your identity.
However, be sure to check what debit/credit card fees apply to your chosen platform, as the industry average is 3-5%. For example, Coinbase charges 3.99% when you buy Cardano with a credit/debit card.
However, you can deposit funds using both Visa and MasterCard on eToro without incurring any fees - provided your card is denominated in US dollars.
Buy Cardano with Paypal
eToro also allows Cardano to be purchased using Paypal, in addition to alternative e-wallets such as Neteller and Skrill. Deposits in USD via all supported e-wallets are free of charge.
Best Cardano token storage wallet (ADA)
Cardano tokens must be stored in a cryptocurrency wallet that supports ADA. There are many types of Cardano wallets on the market - all of which offer different levels of security and convenience.
The first thing to consider is whether you want to use a hot or cold wallet. The latter refers to hardware wallets that are kept offline at all times, so security is extremely good.
However, cold wallets can make the process of sending and receiving ADA tokens cumbersome, as you need access to the right device.
Therefore, hot wallets are much more suitable when storing Cardano tokens. eToro, for example, offers a mobile wallet that comes via iOS and Android apps. The wallet not only allows you to safely store Cardano, but also a host of other cryptocurrencies.
In the wallet application, you can buy, sell and trade Cardano at the click of a button. Most importantly, the eToro wallet is licensed .
How to buy Cardano - instructions
The following step-by-step guide will show you how to buy Cardano online in less than five minutes via eToro.
As we mentioned earlier, eToro supports free deposits in US dollars using debit/credit card, Paypal and bank transfer. In addition, you only need to spend $10 to buy Cardano from this regulated broker.
Step 1: Register an account
Open a free account on eToro.com to begin the Cardano investment process. You will need to choose a username and password, before entering your name, email address and cell phone number.
Additional personal information will need to be entered after clicking the "Create Account" button.
In addition, you will have to go through a quick identity verification process, which requires a copy of your ID. From start to finish, it shouldn't take you more than five minutes to open an eToro account.
Step 2: Deposit funds
Now you will have to add some funds to your eToro from 10$ upwards.
Again, assuming you deposit funds in USD, no fees will be charged.
Step 3: Search for Cardano
In the search bar, start typing "ADA."
Then, when the ADA appears, click on "Trade."
Step 4: Buy Cardano
Think about how much you want to invest in Cardano and enter the amount in the appropriate field.
To place your Cardano investment, click "Open Trade." eToro will then deduct the USD amount from your balance and add the ADA tokens to your portfolio.
How to sell Cardano
If you withdraw Cardano to a private wallet and want to withdraw money, you must first transfer your ADA tokens to the appropriate exchange.
If you bought Cardano on eToro, you can cash in your ADA tokens , simply by logging in and placing a sell order.
Alternatively, you may be interested in earning interest on your Cardano shares. For more details, read our full guide here.
In summary, you can buy Cardano from the comfort of your home from as little as $10 using eToro. This platform does not charge any fees for deposits and withdrawals, and you only have to pay a spread when you buy Cardano.
Most importantly, eToro is regulated by multiple authorities - so you can safely invest in Cardano.
The cheapest way to buy Cardano is to deposit funds on eToro - which charges no transaction fees across all supported e-wallets, debit/credit cards and banking methods.
Looking for a place to buy Cardano - consider eToro. Only $10 is required to open an account with this broker, and no fees are charged on payments.
Cardano is a volatile and speculative digital asset, so there is no sure way to know the best time to enter the market. Instead, consider a cost averaging strategy .
Yes, Binance supports Cardano. You can buy Cardano with your debit/credit card after verifying your identity.
Yes. Cardano is available on eToro.
The views and opinions expressed here are solely those of the author and should not be taken as financial advice either. Every investment and transactional activity involves risk, so you are advised to do your own research when making any trading, investment or financial decisions.