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How to Buy Cardano (ADA) in 3 Simple Steps

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Cardano (ADA)
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Cardano aims to facilitate positive global change with a research-based Proof of Stake blockchain platform that is secure, scalable, and environmentally sustainable. This guide will take you through how to buy Cardano’s native token, ADA, and how the project plans to change the world.

3 Steps to Buy Cardano

1. Choose a broker or exchange

Start by finding a broker or exchange where you can buy ADA. You might want to look at fee structures and ease of use when considering platforms. The best ones have been shortlisted in the next section, but you can sign up with our top recommended platform right now if you want to buy ADA immediately.

1
Min. Deposit
$10
Promotion
User Score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA

2. Create and fund your account 

Fill in the registration form with all the personal information required in order to create an account. Before your account can be verified, you may also need to provide a photo ID and proof of address. Once that is out of the way, you can click “Deposit” and fund your account with the payment method of your choice.

3. Buy Cardano

Search your platform for the trading pair containing ADA and the currency you just deposited. Now enter how much you want to purchase in a buy order. Make it a market order if you want to buy ADA immediately at the current price, or a limit order if you want to specify a price to buy it at in the future.

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Buy Cardano in just a few minutes

Create a free account

Set up your trading account with eToro for free with your name, an email address and telephone number

Fund your account

Choose your preferred payment method and activate the account with the minimum deposit into your account

Start trading Cardano

Choose your cryptocurrency by clicking ‘Trading Markets’, set your risk limit and click ‘Get Started’ to start your investment strategy
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Why trade Cardano with a broker?

1

Fast and simple.

Trades are instant and easy to execute.

2

Pay your way.

Brokers accept a range of payment options including credit/debit cards and even PayPal.

3

No wallet needed.

No need to set up and maintain a wallet—you can manage your crypto directly from your account.

Buy Cardano Today!

What Is Cardano?

Cardano is a blockchain platform for the development of enterprise-level decentralised applications (dApps)—apps that run on the blockchain. With peer-reviewed research and evidence as its foundation, Cardano is designed to be secure, scalable, and sustainable, providing reliable financial and social applications on a global scale.

Cardano aims to tackle the issues faced by the Proof of Work blockchains that came before it, in particular, scalability. While Ethereum facilitated dApp development, its low throughput means transactions can be slow and expensive when the network is congested. In contrast, Cardano can maintain network performance while processing a large number of transactions.

The project uses a Proof of Stake consensus protocol called Ouroboros, which is provably secure, capable of meeting global demand, and sustainable, requiring far less energy than Bitcoin or Ethereum.

ADA is Cardano’s native cryptocurrency and is vital for staking in the project’s Proof of Stake system. It can also be used as a secure and efficient medium of value exchange and will be used to access Cardano-based applications and services in the future.

Ways to Invest in Cardano

Cardano is popular with a range of investor profiles as it can lend itself to both short-term and long-term purchases. These approaches both have their own advantages and we’ll explore them in more detail below.

Buy and hold Cardano

Buy and hold is the most straightforward strategy there is. It doesn’t require much skill as anyone can buy ADA and hold onto it. There is no need to spend time and effort monitoring and analysing the market to potentially make a profit with this strategy.

One of the benefits of holding onto ADA for the long term is that you can stake it during that time. Anyone who operates a stake pool or delegates their tokens to a stake pool is rewarded with more ADA.

Best Cardano wallets

Many long-term investors opt to self-custody their tokens in a private wallet. This can make your tokens more secure and means that you don’t need to rely on centralised services in order to access them.

Investors with smaller holdings often choose software wallets as they are free, user-friendly, and can be downloaded for desktop or mobile. Hardware wallets provide the most secure storage for those willing to pay. Popular hardware brands include Trezor, BitBox, and Ledger.

Trade Cardano

The volatility of ADA’s price means traders can also generate more frequent profits by buying and selling it more often. This will take more time and effort and traders often use technical analysis to decide when to buy and sell.

Private wallets are less convenient for traders as they need to access their tokens more often. Instead, many choose to use web wallets, which exchanges provide for free.

Should I Buy Cardano Now?

We can provide you with information about Cardano’s fundamentals and potential, but you will have to decide whether to invest for yourself. There is a limited maximum supply of ADA, and this scarcity could make it a good store of value in the long term.

The ability to earn staking rewards from ADA could incentivise more people to buy and stake the token, while more ADA being staked, means a smaller supply available on the market. This could be a positive combination for ADA price.

Projects building on Cardano create even more demand for ADA, as it will be usable for a range of applications. The release of the Goguen update in September 2021 made Cardano programmable and has paved the way for the development of dApps and services.

Cardano is now capable of having its own decentralised finance (DeFi) ecosystem and, with its low cost and sustainability, it could even hope to rival Ethereum as the home of DeFi. With the final two stages of development focusing on scalability and governance, Cardano could achieve its goal of effecting global positive change.

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Frequently Asked Questions

  1. For those who don’t want to operate a stake pool, they can stake their ADA through delegation. This involves choosing one or more stake pools to delegate to, after which rewards accrue in ADA. Staking can be done through certain wallets and exchanges.

  2. A stake pool operator will need to have the knowledge and ability to set up, run, and maintain a Cardano node 24/7, as well as skills in system operation and server administration. The hardware requirements include 10 GB of RAM, 24 GB of hard disk space, a public IP4 address, and a good network connection and bandwidth.

  3. IOHK has launched the full-node wallet Daedalus and EMURGO has released the browser-based wallet Yoroi. Both of these wallets support ADA staking.

  4. A variety of dApps and services can be built on Cardano. Current use cases developed by EMURGO and IOHK include academic credentials verification, a system for establishing product provenance, supply chain tracking, a digital identity service, client onboarding for financial institutions, and a solution for counterfeit medicine.

  5. IOHK built and maintains the Cardano blockchain, the Cardano Foundation supervises its development, and EMURGO develops commercial opportunities for Cardano. The Voltaire upgrade will bring decentralised governance to Cardano in the future.

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