Cardano is well known as the 3rd generation of blockchain technology and if you are willing to invest in Cardano than this guide on how to buy Cardano has everything for you.
To buy or sell any cryptocurrency, the major factors which need to be determined is the lower trading and transactions fee.
Hence I am not going to turn you all around and will directly explain, how you can buy and what you should do after buying Cardano (ADA).
Well, if you are already a cryptocurrency holder than it will be a very easy and fast process with low trading fees to get Cardano coin (ADA).
But if you want to buy by investing Fiat than even it will be easy for you like this guide to help you all around on how to buy Cardano.
Before placing a buy order for any cryptocurrency, it is worth knowing that, will your investment in that coin is worth or not?
As Cryptocurrency market is very volatile and you can see major price movements with time and emotions.
Decide your profit margin first and diversify your investment in various other top altcoins, so let me brief you what is Cardano in few words.
What is Cardano: Is it Worth Investing?
Let me clear your mind first that you are investing in ADA Coin, not in Cardano. Same as Ripple, Cardano is a blockchain network on which its digital asset ADA Coins work.
In this guide for your user reading experience, we will refer ADA Coin as Cardano, as this is the well-known name in the Crypto industry.
Cardano is created by the well known Crypto identity Charles Hoskinson the Co-Founder of Ethereum and CEO of IOHK in 2015.
It released in 2017 as an ICO to the well-known exchange Bittrex and it got wide popularity.
He claims Cardano as the third generation of blockchain technology after Bitcoin and Ethereum and claiming that it will solve the problems associated with existing Blockchain network.
He has introduced this with a vision of building a network which has strong interoperability, scalability, and sustainability.
Cardano is the only one of Crypto project which is not having a team of developers but it includes Engineers, scientists, and professors.
All development will be implemented only if the papers will be reviewed and approved by the professors or scientists.
Still, this project is under development and Cardano coin is trading around 0.10$/ADA Coin and it already has a very good hype in the market.
Currently, Cardano is holding its strong position in the top 10 Cryptocurrency by market capitalization.
Will Cardano Price hit 10$ or more in the future, to know more on price analysis check our detailed guide.
As a beginner, I would suggest you get detail idea about what this Cardano Project all about so you can get look for our guide on What is Cardano?
Let’s assume, you have read and got already a good idea about the project and if ready to invest then let me detail you on how to buy Cardano.
How to Buy Cardano (ADA): Two Simple Ways
Well, as I said you can buy any cryptocurrency using two ways one is through trading which requires existing Cryptocurrency.
Another way is buying through the fiat currency like USD, EUR, GBP, etc, Will discuss both best way on how to buy Cardano.
Keep in mind that Cardano is new in the market and one of the growing cryptocurrency, so before purchasing the quantity of coin decide first how much you can invest in it.
For precautions, never take my guide as a piece of investment advice as the crypto market is very volatile and no regulatory is controlling this free market.
So let me highlight 2 simple ways on how to buy Cardano or ADA Coin for low trading fees?
Buy Cardano Using Cryptocurrency Exchanges.
Well, there are different ways to get Cardano but most of them are very expensive either in terms of transaction fees or trading fees.
At this moment more than 15-20 Exchanges already listed Cardano to trade with their Crypto Pairs.
Cardano is nowhere available to direct buy in exchange of Fiat unless CoinBase will introduce this in near future as it is what in process.
Hence this first process will be only applicable if you are Cryptocurrency holder like Bitcoin or Ethereum etc.
Not to worry as our Second method will be for those who want to buy in exchange for fiat but to learn that you should know who to buy Cardano using Cryptocurrency.
Til the time, the only way to buy Cardano is through the cryptocurrency exchanges. The biggest concern while buying from Cryptocurrency exchanges are
- Daily limit of trading
- Average trading volume on the exchange
- Trading fees for every buys or sell order
- Security Concern
Above four factors, I think are must looking while choosing any Cryptocurrency exchanges.
As I explained that Cardano is listed with more than 10 exchanges, which follow above standard but out of those I found one which top ranking out of others.
Yes, I am talking about the Binance Exchange which is one of the only decentralized exchange which has its own decentralized Binance chain (BNB).
Binance rank number one in daily volume trading of around 2 billion USD, which will give you enough flexibility to place any amount of Buy or Sell orders.
While talking about trading fees Binance offers 0.1% trading fee for each Buy or sell order you complete, which is lesser than any of the existing Cryptocurrency exchange.
You can also trade with Binance coin which can further reduce your transaction fees by 50% means the new trading fee will be 0.05%.
While talking about Bittrex, it offers 0.25% transaction fees for each trading so you can decide where you want to trade, here are listed differences Bittrex vs Binance.
Let me highlight, how to buy Cardano on Binance but if you are new to Binance than check our Binance review guide, will explain you in detail how to use Binance for trade.
First You would need a Cryptocurrency which can be anywhere in your CryptoCurrency wallet.
To buy Cardano on Binance, you would need out of below cryptocurrency.
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Coin (BNB)
- Stable Coin (USDT)
Above four is the most famous trading pairs available on Binance, means if you are holding any of the above coins than you can exchange that coin to buy Cardano (ADA) coin.
Let say you already have cryptocurrency like Ethereum (ETH), which may be available in one of your Cryptocurrency wallets.
First, you would need to transfer ETH coin to Binance and the process will be very simple.
- Get the Address of Ethereum from Binance Ethereum wallet.
- Go to your Cryptocurrency wallet and send Ethereum to that Address.
The process is simple and easy, to get Ethereum Address from Binance to follow
Login with Binance and go to Fund–>Balance –>Search for Ethereum –>Click to Deposit
After clicking, Deposit will give you an Address as shown below and that address will be the one on which you need to send Ethereum from your Cryptocurrency wallet.
Once your amount of ETH will be received than it will be available in Ethereum wallet as an available amount which is eligible to trade with Cardano Coin (ADA).
Next step is to navigate to the exchange where you can place buy Order for Cardano so follow
Click to Exchange –> Basic as shown below, the option will on LHS top corner of Binance Dashboard.
Search for ADA Coin in Ethereum market so a trading pair of ADA/ETH Will display and now click to that trading pair will display a trading market for ADA/ETH.
To place a buy order for Cardano, check the highlighted part of Buy ADA which is asking you to enter three values to enter.
Price – You can set for what price of ETH you want to buy a single ADA Coin, means let say I want to buy 1 ADA by paying 0.001 ETH, so entry in that will be 0.001.
Amount – Enter the quantity of ADA Coin you want to buy let say 100.
Total – Will Multiply Price and Amount means 0.001*100=0.1 ETH will be in the total deducted from your available ETH balance and 100 ADA will be added to your wallet.
Note – 0.1% transaction fees will be applicable
You can validate ADA Coin balance in your wallet or on-sell ADA highlighted area, as available balance.
Finally, your buy order for Cardano is completed and you are done with how to buy Cardano coin.
Other than Binance there are other exchanges too such as Bittrex, Kraken, Huobi, etc with different trading pairs.
You can choose based on availability but Binance is the one which is top of the all above and having a more advanced security feature.
What we discussed right now is, how to Buy Cardano using Cryptocurrency but what if you do not have Cryptocurrency and want to buy using fiat than reading continues.
How to Buy Cardano using Credit cards
Well buying a cryptocurrency using Credit or debit card is always expensive as it requires large fees to pay.
If you have Cryptocurrency than we discussed using Binance we are paying only 0.1% trading fees but using Credit or debit card we are buying crypto using fiat.
As I said there is not yet any active platform on which you can buy Cardano directly by paying Fiat like USD, EUR or GBP.
The idea is first to buy major cryptocurrency like Bitcoin, Ethereum, Litecoin and then using exchanges like Binance, you can buy Cardano as how we already discussed earlier.
Buy Cardano from Binance using fiat
The best part with Binance is you can buy Cryptocurrency using Binance, in that case, you would be able to buy first out of below list.
Go to dashboard than Funds–>Buy with Credit cards
You can buy any of the Crypto let say bought ETH, so provide total charge as 100$ than the resultant ETH will display.
Simply hit Buy Button and complete the rest payment process and the purchased ETH will be added to your Binance Ethereum wallet.
Make sure Payment process through Finance will charge you 3.5% or 10$ whatever is a maximum fee as transaction fees.
After processing the payment make sure to verify the payment confirmation email received on your registered email address without this it won’t complete.
Now you have Ethereum and you know how to buy Cardano on Binance.
Buy Cardano from CoinBase using fiat
The second best way is though CoinBase, well Coinbase is in the process of listing Cardano as direct buy sell using Fiat.
But till that, you have to use the alternative way as we did in last. Coinbase has listed with only a few cryptocurrencies, in this list Bitcoin, Litecoin is at Topmost.
CoinBase support deposit of fiats such as USD, GBP or EUR depends on the country you can check below.
Well, the deposit of Fiat may charge you a fee if you prefer to deposit using credit or wire transfer, so I prefer to deposit using bank transfer which is in most cases 0% fee.
You can get the charges applicable on payment transfer based on the country here from Coinbase official page.
First Sign Up Coinbase and complete KYC and once verify your identity in parallel get approved for the recommended bank account to which you want to send or receive money.
If all done, this time is to transfer fiat currency like GBP to your wallet and it will be available in GBP wallet of CoinBase
Now once you have fiat in wallet go to Buy/Sell and place by order of Ethereum, now a transaction fee will apply as 2-3% depends.
Here you have paid only 2.99£ per 100£ purchase which even you can minimize using Coinbase Pro.
On Coinbase pro the transaction fee will be only 0.25%, so once you registered with Coinbase you already registered with Coinbase pro.
You can swipe your Coinbase wallet GBP or USD amount to Coinbase Pro or Gdex and you can trade from there.
In the above screenshot, you can see I am able to buy the same amount of Ethereum by paying transaction fees of only 0.25£ per 100£.
Now once you have Ethereum you can transfer out the from CoinBase wallet to the Binance and rest process to buy Cardano will remain same.
To learn more here about how to buy Cardano with 0$ Trading Fee on Coinbase and GDEX, check our detailed guide.
Note – While depositing money to Coinbase will be locked for around 4-5 working days in Coinbase, you cannot transfer that to CoinBae Pro.
But you can buy in CoinBase instantly by paying transaction fees as what we saw earlier.
Now I can imagine that i have explained all in detail about how to buy Cardano using Cryptocurrency or using Credit or Debit card.
My View on How to Buy Cardano
My intention to write this article for all crypto traders is to guide you in the right way so you can save some extra money which you are paying as transaction fees.
Buying a Cardano will be the same as another top altcoin but what need to care is all about security and transaction fees associated with each transaction.
After purchasing Cardano, I advise you to transfer all your coins to the safe Cryptocurrency wallet I prefer to have a hardware wallet like a ledger.
Let me know in the comment, how much money you have made through crypto and are you bullish or bearish in crypto investment.
I am closing this ultimate guide on how to buy Cardano ADA coin, you can check another top 10 Best Crypto investment guide which is worth investing.