How to Buy Kadena (KDA) in 3 Simple Steps
Kadena aims to make “blockchain work for everyone”, by providing a secure, efficient, and virtually-free blockchain environment that can scale to power global financial systems.
This guide will show you how you can purchase KDA for yourself and explore what’s being built on Kadena.
3 Steps to Buy Kadena
1. Choose a broker or exchange
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 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
You will now need to search for the trading pair for KDA and the 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 it reaches a specified price.
Why trade Kadena with a broker?
Fast and simple.
Trades are instant and easy to execute.
Pay your way.
Brokers accept a range of payment options including credit/debit cards and even PayPal.
No wallet needed.
No need to set up and maintain a wallet—you can manage your crypto directly from your account.
Where to Buy Kadena: Compare the Top Platforms
It is best to use a platform with strong security and a good reputation if you care about the safety of your funds. There are a number of these around, but not all of them offer KDA. To save you from trawling through all the crypto platforms, we’ve shortlisted the top platforms that offer KDA below.
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.
KDA can also be used for trading, which involves buying and selling tokens over much shorter timeframes than investing. The volatility of KDA’s price makes this a potentially profitable endeavour, but it also requires much more time and skill than long-term investing.
Traders 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 their chosen exchange.
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 their popularity and support these sectors on a global scale.
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Frequently Asked Questions
There will be a fixed total of 1 billion KDA, which are to be mined over a period of 120 years.
Pact is a human-readable programming language used by Kadena. It automatically detects bugs to make it easier for developers to write safer smart contracts.
Chainweaver is Kadena’s desktop wallet, which can be downloaded for free from the website onto Mac, Windows, or Linux devices and used to store KDA. It also functions as a smart contract development environment.
Businesses and developers can set up accounts called gas stations that refund gas spent on specific operations. This would mean users wouldn’t need to buy crypto to interact with dApps, making them more accessible.
Chainweb is Kadena’s layer 1 public blockchain protocol. Kuro is Kadena’s layer 2 private blockchain designed for enterprises.