Where and How to Buy Cardano (ADA) cryptocurrency Top Exchanges and Wallet

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Buy & Sell Ada

You can buy, sell or trade Ada through digital currency exchanges.

Exchanges that list Ada

Please see CoinMarketCap for further indications where and on which exchanges Ada is currently listed.

How to buy Cardano (ADA) – A Beginner’s Guide

By: Ofir Beigel | Last updated: 11/13/19

Cardano is an open-source, decentralized cryptocurrency that began in 2020 and only became available for trading on October 2020. In this post I’ll explain a bit about what Cardano is, its currency (ADA) and how to buy it online.

How to Buy Cardano Summary

Here’s how to buy Cardano (ADA):

  1. Get a Cardano wallet (Daedalus)
  2. Locate your ADA address
  3. Find an ADA exchange (Coinmama)
  4. Withdraw the ADA to your wallet

If Coinmama doesn’t work out for you here are a few additional buying options:

That’s how to buy Cardano in a nutshell. If you want a deeper explanation of Cardano and the buying process keep on reading, here’s what I’ll cover:

1. What is Cardano

Cardano is a cryptocurrency and smart contract platform that aims to solve the issues confronted by the current smart contract leader – Ethereum.

Cardano has a foundation layer that, similar to Bitcoin, is used for settling payments. On top of that there is a control layer which runs smart contracts. It’s as if you rolled Bitcoin and Ethereum into one network.

Cardano aims to create a cryptocurrency and smart contract platform that is sustainable, scalable and interoperable (i.e. to allow the exchange of assets between different blockchains, similar to atomic swaps).

The platform uses ADA as its currency in order to run smart contracts, similar to how Ether is used to run contracts on Ethereum. The ADA circulation is limited to 45 Billion coins.

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Cardano was created by the company IOHK (Inputs, Outputs, Hong Kong) and Charles Hoskinson, its CEO, which has been one of the pioneers of Ethereum as well.

Cardano works on a Proof-of-Stake model, which means that instead of mining, you can stake your Cardano in order to participate in the consensus process of the network. The process of staking your Cardano will allow you to generate income from it, however you’ll need to stake a large amount of Cardano to make it worth while.

Cardano and ADA have made their way to the top of the cryptocurrency charts while trying to win the battle for the best smart contracts platform alongside EOS, IOTA, NEO and more. The first official use case of Cardano was announced in December 2020 with the potential for Greek student diplomas to be stored and verified on the Cardano blockchain.

2. Buying Cardano in 3 Steps

Step 1 – Choose a Cardano wallet

Cardano is a young project that’s still very much under development. For this reason, there are very few wallet options available for storing ADA, the Cardano currency.

How & Where To Buy Cardano (ADA) Cryptocurrency

CoinSutra » Cryptocurrency » How & Where To Buy Cardano (ADA) Cryptocurrency

Given the popularity of Cardano (ADA), I am surprised at how underrated it is even today.

But believe me, it is not going to stay like that forever.

One less known fact about Cardano is, it is sold as an “investment to retire on” in Asia, specifically in Japan and has a fantastic team backing it.

For the uninitiated, Cardano, an open-source blockchain 3.0 platform for building DApps and smart contracts, is the top contender of being the Ethereum killer.

Cardano has been in the top 10 cryptocurrencies by market cap (as per CoinMarketCap) since December 2020.

But many in the cryptosphere remain unaware of Cardano and how to buy it.

That’s why in this article I will tell you how you can buy Cardano to make it a part of your long-term investment portfolio and where you can do that.

Let’s get the ball rolling.

How To Buy Cardano

Being in the top 10 of CMC is enough to get noticed, and that’s why buying it is easy. A lot of exchanges and services have Cardano listed.

Before that, it is important to understand the ways in which you can buy Cardano (ADA). Here are some of the popular ones:

  • Buy ADA using credit/debit cards
  • Buy ADA for cash
  • Buy ADA from bank deposits or wire transfers
  • Buy ADA using other cryptos
  • Buy ADA using BTC/ETH
  • Buy ADA from peer-to-peer sources

Once you know ‘how to’, you just need to know ‘where to’ go to buy ADA.

Where To Buy Cardano

I have simplified things here by listing services in each of the categories that we have discussed in the previous section.

1. Buy ADA using credit/debit cards

Using credit/debit cards is the easiest way to get hold of any cryptocurrency, and ADA is not an exception. However, there is only one service that lets you buy ADA using cards.

Before using Coinmama for buying ADA, you need to complete their registration and KYC post which, you will be able to buy ADA using a card. Also, make arrangements for your Cardano wallet beforehand, as, unlike other services, Coinmama doesn’t provide an inbuilt wallet.

2. Buy ADA From Bank Deposits Or Wire Transfers

One can buy ADA from services that accept bank deposits or wire transfers. But there are very few services like that allows you to buy ADA through their fiat linked crypto wallets. For now, you can buy ADA for EUR, GBP, INR, and KRW fiat currencies. Here are those services:

3. Buy ADA in exchange for other cryptos or ETH/BTC etc.

Another easy way to get hold of ADA is through centralized cryptocurrency exchanges that sell ADA.

Through these exchanges, you can exchange one cryptocurrency for another by paying a marginal trading fee. Similarly, if you have ETH, BTC, LTC or USDT, you can exchange these for your ADA cryptocurrency.

Here is the list of established cryptocurrency exchanges where you can exchange other cryptos for ADA:

  • Binance: Supported pairs are ADA/BTC, ADA/ETH, ADA/USDT, ADA/BNB
  • Huobi: Supported pairs are ADA/BTC, ADA/ETH, ADA/USDT
  • Gate.io: Supported pairs are ADA/BTC, ADA/USDT
  • Bittrex: Supported pairs are ADA/BTC, ADA/ETH, ADA/USDT

4. Buy ADA for cash or through peer-to-peer sources

Buying ADA for cash or through peer-to-peer sources is difficult because there are no ADA ATMs like Bitcoin, nor does Cardano have escrow P2P platforms like LocalBitcoins.

Update: ADA ATMs are here and you can start using them in Japan.

However, that doesn’t mean that you can’t deal in peer-to-peer fashion if you get a deal. But mind you such dealings can be a fraud because you are solely trusting the buyer and seller. That’s why I won’t recommend this method unless it is the last option.

Conclusion: Buy Cardano (ADA) Cryptocurrency Now

As we speak, Cardano is sitting at #9 of CMC and is expected to grow more with its development happening at a consistent pace.

Plus, because its lead developer is the former co-founder of Ethereum, with full focus on Cardano, you can expect something worthwhile from this affair.

In my analysis, I found ADA crypto slightly better than Ethereum, but that’s just on paper because Cardano yet has to hit the market in full force and it is likely that it will happen in next 10-12 months.

Lastly, don’t keep ADA in services and exchanges that I have listed above in this article. Instead get yourself a Ledger Nano S because it is going to be the first Hardware wallet that will support ADA and development has been happening from some time.

Now it’s your turn to tell me: Are you invested in ADA? If yes, which method have you used to buy your ADA from the above list? Did I miss any other notable ways to buy ADA? Let me hear your thoughts in the comments below!

Here are a few other articles that you should read next:

Do share this post with your friends who are interested in Cardano.

An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.

After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.

Join us via email and social channels to get the latest updates straight to your inbox.

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