Cardano (ADA) has been on a wild ride since its introduction to the cryptocurrency market in 2015. Borne from some of the minds that created Ethereum, Caradno has been called “Japan’s Ethereum” – a moniker that makes sense, as Cardano is a platform built for smart contracts. The Cardano team plans to optimize blockchain beyond the capabilities of Ethereum. It is not yet live, but when it is, Cardano is hoped to outperform the older smart contract platform in speed, scalability, and even security.
Cardano’s price tanked along with all other cryptocurrencies in 2018. Today priced almost exactly where it was before the last big bull run, now could be the best time to invest in Cardano. Now let’s show you how.
5 Quick Steps to Buy Cardano
- Take 2 minutes to create a new eToro account
- Link your chosen payment method (Paypal, credit/debit card, skrill, Neteller, wire transfer etc)
- Deposit funds (min £200)
- Place an order to buy Cardano
- Watch your profits grow!
Why Buy Cardano Now?
Cryptocurrency is in a rough spot right now…at least when it comes to prices. The ongoing bear market has seen high quality crypto projects lost (sometimes) 90% of their all-time-high values. For investors, this hurts. But for new traders, this might represent an incredible opportunity.
For projects like Cardano which continue to innovate and develop, today’s price might turn out to be a fire sale – the last time you have to get crypto projects this good at this price. Because this is a buy page, not a complete Cardano review, we won’t sell you on Cardano’s specifications. Instead, let’s get right into how to buy this project.
What is the Best Place to Buy Cardano?
So where should you go to buy Cardano? The answer to this question depends entirely upon how you plan to use it. Cardano famously has not yet released its mainnet – the mammoth software project that will deliver Cardano, as a product and technology ecosystem, to the world. When Cardano is finally released, Cardano ADA coins will play an important role in the resulting ecosystem, much like Ether with Ethereum.
Therefore, if you want to be a user of the Cardano platform, conventional cryptocurrency exchanges like Binance will be the best option for you. These traditional exchanges allow you to trade coins like Bitcoin for altcoins like Cardano. From here you’ll be able to send your coins to a digital wallet, where you can keep them until the platform is launched, or spend/trade them as you please.
Other people will simply want to use Cardano as an investment asset. For these people, eToro is probably the best bet. Here, users can buy Cardano at market prices just like with Binance. But instead of being given real digital coins (and all the responsibility that comes with them), users simply engage a contract. The contract is tied to the amount of Cardano the user purchased. When the contract is cancelled by the user, she will receive profits according to how much the value of Cardano went up during the time of the contract.
Basically, eToro is a streamlined option for investors, while Binance and its competitor sites (Bittrex, Poloniex, Kraken) are great for people who plan to use Cardano on the mainnet, or who wish to trade Cardano for other digital assets.
Given eToro’s ease we would always recommend users start off buying with eToro.
How to Buy Cardano With eToro
Now that you know how eToro works, let’s show you how to use it.
Step 1: Open account with eToro
If you can sign up with Facebook, you can sign up with eToro. The easy process requires some personal ID and a connection to one of their supported payment channels.
Step 2: Deposit Funds
Make a deposit of at least 200 Pounds to begin.
Step 3: Buy Cardano
Buy Cardano using the simple eToro interface. When the price has (hopefully) risen to your liking, cancel the contract and take your profits.
How to Buy Cardano Through Exchanges
Now let’s suppose you want to buy Cardano so you can use, spend, and trade it. For this, you’ll need to use traditional brokerage options, like CryptoGo and Binance. We’ll break down their respective advantages now.
CryptoGo is an effortless way for new users to buy Cardano, without having to navigate complex exchanges. All you have to do is sign up, tell the CryptoGo staff what coins you want, pay, and wait for your new coins to appear. CryotoGo can buy up any coin in the market, so feel free to make special requests.
Binance, Bttrex, and the rest of the lot resemble stock brokerage sites you might have used in the past. They will allow you to deposit popular cryptocurrencies like Bitcoin and Ethereum, and use these digital currencies to trade for up and coming altcoins like Cardano.
This league of crypto exchanges requires a bit more knowledge from the investor, but you’ll be able to use this knowledge to get the best prices, using limit, stop-loss, and other complex order types. If you want to grow as a trader, these exchanges are the best way to improve your game.
Buying Cardano: Payment Methods
There are very few places where you can buy Cardano with fiat currency like US Dollars of British Pounds Sterling. In most cases you will have to make a cash wire transfer to a Bitcoin purchasing platform like Coinbase, then use your new Bitcoin on an exchange like Binance to get Cardano. CryptoGo accepts bank wire transfer as well, but they will be able to buy your Cardano directly, without requiring you to first buy Bitcoin.
If you are already involved in crypto investment, you likely already have experience with Bitcoin and Ethereum, coins which can be traded for Cardano on many exchanges. To see a full list of where Cardano is traded, and what currencies can be used to trade against it, check out this complete page on CoinMarketCap.
How to Store Cardano in a Wallet
Digital Assets like Cardano have to be stored in pieces of dedicated software called “wallets”. Wallets allow you to access your cryptocurrency on your computer or other device. Wallets keep your Cardano safe, and some allow you to spend or trade it within the wallet itself. We’ve written a great deal about digital wallets, many of which will support Cardano. Check out our complete crytocurrency wallet review page to learn about the best wallets for Cardano.
Cardano is among the very best cryptocurrency projects on planet Earth. Even after the recent decline in crypto’s overall market value, we are still highly optimistic for the future of Cardano. Whether you use eToro, Binance, or another high quality investment option, getting into Cardano now could be one of the best investment decisions you make in your entire life.
If you still have questions about Cardano, check out some of our Cardano Frequently Asked Questions below.
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