How to Buy Kadena (KDA) in 3 Simple Steps

How to buy Kadena

You can purchase Kadena online using a cryptocurrency exchange. This is the easiest way to buy and sell cryptocurrencies—all you need is a computer or mobile device. See below for our top picks of platforms that offer Kadena and simple steps to buy Kadena.

1. Choose a platform

First, you’ll need to find a broker or exchange that offers KDA. Different platforms often offer different features, as well as charging different fees, so it’s worth considering this before you sign up. In the next section, we’ve provided a comparison table of the best platforms below (including both cryptocurrency exchanges and brokers) to help you choose one.

2. Create and fund your account 

Click “create account” to start setting up an account on your chosen platform. You will need to provide your name and contact information, and potentially additional documentation such as a photo ID. Then you can click “deposit” and select a payment method with which to fund your account.

3. Buy Kadena KDA

You will now need to search for the trading pair for KDA and the fiat currency you just deposited. Click “buy” and enter how much KDA you want. If you use a market order, the KDA will be bought straight away. If you use a limit order, KDA will be automatically bought once the Kadena price reaches a certain amount.

What Is Kadena?

Kadena is a blockchain ecosystem that combines the security of Bitcoin with a low-cost, energy-efficient network that is easy for developers to build on. This means Kadena is capable of hosting a diverse range of decentralised applications (dApps) and scaling to power global systems.

Kadena guarantees security by using a Proof of Work consensus mechanism, like Bitcoin. But unlike Bitcoin, Kadena is easily programmable, with a programming language designed to detect bugs and simplify the building of dApps.

The project aims to enable the mass adoption of dApps by offering low transaction fees and the ability for businesses to remove fees entirely for their customers. Also, as more chains are added to the network, Kadena can scale to accommodate more transactions per second, meaning it’s capable of powering global systems.

Central to Kadena’s ecosystem is its native cryptocurrency, KDA, which is used to pay for processes on the Kadena public chain. KDA is used to pay transaction fees and compensate miners for their work, similar to the role of ETH on Ethereum.

Ways to Invest in Kadena

Whether you prefer to invest for the short term or the long term is a matter of preference and KDA has properties that could potentially make both approaches profitable. We’re going to explore what each involves below.

Buy and hold Kadena

The buy-and-hold strategy is pretty self-explanatory. You simply buy some KDA and hold onto it for a while. If it appreciates in value over time, this is an easy way to make a profit for any kind of investor—including those with no experience.

The benefits of this approach are the ease of execution and the lack of time and analysis required. KDA can’t be staked for passive income as the network is secured by miners but the scarce supply of tokens could help them hold their value over time.

Best Kadena wallets

Moving your KDA to your own private wallet can give you full control over and unconditional access to your tokens, as well as providing a bit of extra security. This is why long-term investors often choose to self-custody their tokens.

Software wallets, such as Kadena’s own Chainweaver and the third-party Zelcore, can be downloaded onto your computer or mobile device and tend to be free and easy to use. Another option is a hardware wallet, such as Trezor, BitBox, or Ledger, which are even more secure, albeit more costly. Make sure to check your chosen wallet supports KDA before transferring your tokens.

Trade Kadena

KDA can also be used for trading, which involves buying and selling KDA tokens over much shorter timeframes than investing. The volatility of the KDA price makes this a potentially profitable endeavour, but it also requires much more time and skill than long-term investing.

Those looking to regularly trade KDA will need to access their tokens regularly so a private wallet isn’t the most convenient option. Instead, many traders prefer to use the free web wallet provided by cryptocurrency exchanges. Exchange wallets tend to be less secure, it’s best to turn on as many security features as possible, like tow factor authentification.

Should I Buy Kadena Now?

You will have to make this decision for yourself but the information presented here should provide some help. Like Bitcoin, there is a fixed maximum supply of KDA, which could make the token a good long-term store of value.

KDA is needed to pay transaction fees, which means as the ecosystem and its userbase grow, the increasing number of transactions on the network could mean growing demand for KDA and potentially a rise in its price.

Kadena’s efficiency and the ease of building on it could make it an attractive home for a range of dApps, and the protocol is capable of supporting a variety of popular use cases, including decentralised finance (DeFi), non-fungible tokens (NFTs), and payments.

These are increasingly important industries and the scalability of Kadena puts it in a good position to take advantage of its popularity and support these sectors on a global scale.