Cardano is among the top cryptocurrency, so in case you are wondering if it is worth investing or not or how to buy Cardano , then read the article right away.
What is Cardano?
Cardano is a third-gen decentralized platform based on proof of stake consensus designed to be a better alternative to POW platforms. Another reason that makes
Cardano (ADA) unique is its academic approach. Unlike other dapps platforms, this one prioritizes partnerships with universities and academics.
Why Should You Buy ADA?
Before you jump on the how to buy Cardano section, let’s start with why you should buy it. Most investors trust Cardano because of its scientific foundation as it may help the coin get more adoption.
Cardano also allows you to vote on software changes as well as operate the network. There are various reasons to invest in ADA that you may check on the web first and then decide further.
It’s always recommended that you do complete research before investing in any coin about its technology, benefits, risks, etc.
How To Buy Cardano (ADA) Cryptocurrency?
Buying any cryptocurrency whether it is Cardano or any other includes three steps. These three steps are:
- Choosing a wallet to store your Cardano coins
- Finding a reliable Cardano Exchange
- Placing your order on the Exchange
So before we tell you how to buy ADA (Cardano) cryptocurrency, let’s find out which wallet you should use to store your coins.
What Are The Best Cardano Wallets?
As Cardano is still under development and a young project making its place in the market, there are only a few wallets that support ADA coins.
If you are planning on buying a significant amount then you should not rely on software or a web wallet. Instead, you should use hardware wallets.
Hardware wallets are known to be the most secure option to store cryptocurrencies as they store your private keys offline on your hardware device.
The chances of hardware wallets getting hacked are extremely low, even there aren’t any cases that we heard of yet. Your private data is only yours until and unless someone gets access to your hardware wallet and also knows your passcode to get its access.
Ledger Nano X and Trezor Model T are the two best Cardano hardware wallets. You can use both of these wallets with AdaLite.
If you are looking for software wallets, then you can try Exodus or Daedalus wallet.
Best Exchanges to Buy Cardano Cryptocurrency
Given below are the three best exchanges to buy ADA coins. If you already have an account in any of these exchanges, you can skip this step and continue with the How to buy Cardano section right away.
Binance is the largest cryptocurrency exchange out there that offers more than 500 cryptocurrencies for trade including Cardano (ADA). With Binance you can get comparatively lower fees on your trades and higher liquidity to take benefit from the market volatility quickly.
Binance provides ADA cryptocurrency in almost all supported countries except America. If you are a USA resident, then you should check out other exchanges for buying Cardano.
After Binance, comes Kraken, one of the most longstanding names when it comes to crypto exchanges. Kraken offers an extensive selection of cryptocurrencies that includes Cardano (ADA) too.
The trading costs are lower than most exchanges in the market. Plus, the exchange is offering both futures and margin trading now.
If you are a USA resident, then Kraken is your best bet for buying ADA easily.
Huobi is one of the top exchanges to trade Cardano (ADA) on its platform. The exchange was founded in 2013 after which it became one of the largest crypto exchanges with a trading volume of over $1 trillion.
It has also accounted for half of the world’s crypto transactions. At the current moment, Huobi is serving more than 5 million users in 130+ countries all around the world. The only downside is that it is not available for USA residents.
How To Buy Cardano From Kraken?
Although the steps to buying ADA coins differ from exchange to exchange, the procedure is going to be somewhat similar.
The first step involves signing up on the exchange followed by verifying your account. Then you can deposit fiat currency or cryptocurrency in your account to trade it for Cardano.
Here’s how to buy Cardano in the USA and other places with Kraken.
Step 1: Sign up For Kraken
Visit the Kraken website and sign up using a valid email address. Create a username and password for your new account.
Make sure to create a strong and secure password that no one, literally no one can crack.
Step 2: Verify Your Identity
You can trade ADA with other cryptocurrencies like Bitcoin and Ethereum by just providing your name, phone number, date of birth and other such basic details.
However, if you want to purchase ADA using fiat, you will need to go through an additional verification procedure. This includes providing proof of your identity such as your driving licence, passport, photo etc.
Step 3: Deposit Crypto or Fiat Currency
Now that you have created your account as well as done the verification, you can simply deposit your fiat currency or crypto in the exchange account.
The steps to do this differ depending on your preferences and location.
Step 4: Buy Cardano
As soon as you receive the funds in your account, you can use them to buy ADA from Kraken. After making a deposit, you will also get access to Kraken’s advanced charting tools and margin trading as well as 24/7 client support.
Once you have purchased the Cardano cryptocurrency, transfer it to your personal wallet immediately and carefully.
That’s all! After reading this article, you must have got an idea about what is the best ADA exchange, how to buy Cardano, and where to store it.
We still suggest you do some more research about crypto trading as well as ADA before investing in it.
In case you are a noob in cryptocurrency and don’t know much about it, feel free to get opinions from our experts by giving us a call at our Blockchain Customer Service number.