Where to Buy Cardano

First came Bitcoin — the cryptocurrency that disrupted how the world transacts.

Then came Ethereum — the platform that has revolutionized the blockchain industry world with its smart contracts feature.

Both blockchains took the world by storm when they were launched. Nonetheless, nobody could have predicted the impact they would have on the crypto and blockchain world.

Cryptocurrency statistics now show that Bitcoin and Ethereum are the first and second most valuable digital assets, respectively.

However, growth is bound to occur. The blockchain industry has ushered in third-generation blockchains that are redefining how people buy cryptocurrency.

Cardano, one of the fastest-growing blockchain assets, has shown enough promise to trigger positive investor sentiment.

Want to learn how and where to buy Cardano?

Take the ride with us.

What Is Cardano?

Launched in 2017, Cardano is an open-source blockchain built to run smart contracts and other decentralized protocols.

Its creators visualized it as a solution for scalability issues faced by its first and second-generation peers like Bitcoin and Ethereum. It has since morphed into one of the most exciting blockchain platforms.

Its native cryptocurrency — ADA — has maintained its position among the top 10 since its introduction. As of September 10, 2022, the token was ranked as the 8th most valuable coin with a market capitalization of $17.6 billion.

Cardano’s History

Cardano was founded and launched in 2017 by Ethereum co-founder Charles Hoskinson.

But the journey had begun much earlier. After leaving Ethereum, he co-founded a blockchain engineering company known as IOHK, whose main business today is the development of Cardano.

Hoskinson began developing the platform in 2015. His vision was to build on the technology pioneered by Bitcoin and Ethereum and roll out a more efficient third-generation platform.

Consequently, Cardano has been positioned as an alternative to Ethereum. Its strengths have also earned it a spot among Ethereum killers, blockchains known for their potential to out-compete the game-changing platform.

Why Is Cardano So Valuable?

Cardano’s underlying technology makes it a more scalable, interoperable, and sustainable blockchain than Bitcoin and Ethereum.

Moreover, Cardano is also being developed to support cross-chain transfers, multiple token types, and widely adopted smart contract languages.

Furthermore, Cardano is built on the Proof of Stake (PoS) protocol called Ouroboros and the first consensus mechanism based on peer-reviewed research.

Why is this significant?

Because Bitcoin and Ethereum 1.0 both use the Proof of Work (PoW) mechanism, a system widely criticized for being highly energy intensive and environmentally unsustainable. Not only that, but it creates competition among human validators (miners) who verify transactions.

Meanwhile, Ouroboros eliminates the competition aspect by selecting participants to verify transactions instead.

Lastly, Cardano is one of the faster blockchains in the industry. As of September 2022, the platform could process 250 transactions per second (tps).

Best Exchanges to Buy Cardano

Investors think differently. Most like buying an asset when it is low. Some are quick to dispose of it as soon as negative sentiment becomes loud. Others are happy to play the waiting game and cash in on their patience down the line.

Whichever category you fall under, doing your homework on promising assets and the cheapest ways to buy Cardano is a key ingredient for success.

If you become convinced ADA represents good value, here are the best cryptocurrency exchanges where you can make a purchase.

Binance.US

Based in San Francisco, California, Binance.US is a digital assets marketplace tailored specifically for United States residents. It is also a subsidiary of the world’s largest digital assets platform. The exchange lets users buy, sell, trade, and convert 125+ cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Cardano.

  • Low trading fees
  • Wide range of supported cryptocurrencies
  • Allows staking

Based in San Francisco, California, Binance.US is a digital assets marketplace tailored specifically for United States residents. It is also a subsidiary of the world’s largest digital assets platform. The exchange lets users buy, sell, trade, and convert 125+ cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Cardano.

Kraken

Kraken is a US-based exchange that offers trading in US dollars, Canadian dollars, Australian dollars, Euros, British pounds, Swiss Francs, and the Japanese yen. The platform pays special attention to its security, with a track record of zero breaches. Kraken also has an extensive list of crypto assets and covers over 185 of them.

  • Low fees
  • Seven different fiat currencies
  • 185+ cryptocurrencies

Kraken is a US-based exchange that offers trading in US dollars, Canadian dollars, Australian dollars, Euros, British pounds, Swiss Francs, and the Japanese yen. The platform pays special attention to its security, with a track record of zero breaches. Kraken also has an extensive list of crypto assets and covers over 185 of them.

eToro

Established in 2007, eToro is a multi-asset trading platform offering stocks, digital assets, and Exchange Traded Funds (ETFs). Its best attribute is its social trading feature which allows users to match the moves of expert traders.

  • Regulated in multiple jurisdictions
  • Offers a communal experience
  • Plenty of educational resources

Established in 2007, eToro is a multi-asset trading platform offering stocks, digital assets, and Exchange Traded Funds (ETFs). Its best attribute is its social trading feature which allows users to match the moves of expert traders.

CEX.IO

Headquartered in London, CEX.IO is a cryptocurrency exchange popular for being one of the first platforms to make fiat-to-crypto transactions accessible through card payments and bank transfers. The platform has over four million users across the world.

  • Supports a wide range of cryptocurrencies
  • Licensed in the US
  • Strong security measures

Headquartered in London, CEX.IO is a cryptocurrency exchange popular for being one of the first platforms to make fiat-to-crypto transactions accessible through card payments and bank transfers. The platform has over four million users across the world.

Crypto.com

Crypto.com has been ranked as the most secure crypto exchange and has been awarded a AAA rating. The platform also supports 250+ cryptocurrencies and offers a high return on crypto assets. It also features some of the most advanced tools in the market.

  • Competitive fees
  • FDIC-insured fiat balances
  • Transparency

Crypto.com has been ranked as the most secure crypto exchange and has been awarded a AAA rating. The platform also supports 250+ cryptocurrencies and offers a high return on crypto assets. It also features some of the most advanced tools in the market.

How to Buy Cardano on Each Platform

The process of buying Cardano is not the same across the board. The procedure varies on each of these platforms, as broken down below.

Binance.US

If you can’t decide where to buy Cardano, try Binance.US, The platform checks most boxes.

The San Francisco-based cryptocurrency exchange offers advanced trading features that make trading easy. It also supports more than 100 cryptocurrencies, making it ideal to buy altcoins.

Binance.US is popular for its low fees. The platform charges a 0.1% trading fee which is lower than many other exchanges.

The platform also supports several payment options. These include:

  • Debit/credit cards
  • Bank transfers
  • E-wallet options

Since it is a centralized exchange, you must register before buying Cardano.

To register, you will need to provide;

  • Copies of a government-issued ID
  • Social Security Number or Tax ID
  • ID photo or video confirmation

Once your account has been set up, the following ways are how you can buy Cardano.

Credit/debit card

To buy Cardano using your card on Binance.US, you will need to:

  • Select the “Buy with Cash” option
  • Pick “ADA” as your preferred currency
  • Specify the fiat amount you wish to spend
  • Press “Continue”

If you are a new user, you will need to add your card details.

Once you complete the transaction, the Cardano will be sent to your spot wallet. From there, you will be free to transfer the crypto to your fiat or margin wallet.

Bank deposit

If you opt to buy Cardano using this method, you should:

  • Choose the “fiat and spot” option from the menu bar
  • Select “deposit” at the top right corner of your screen
  • Choose the fiat currency you want to deposit
  • Enter the amount you want to use
  • Click on “confirm”

The exchange will ask you to submit your bank account information. Once the deposit reflects, you can buy Cardano.

Peer-to-peer trading

There is also the option of buying Cardano from peers. This can be done in two ways:

  • Express mode: if you opt for this route, select “ADA” and specify the amount you want to buy. The system will match you with the best available options
  • P2P mode: to buy Cardano this way, scroll through the available options fronted by various merchants manually. If you come across a suitable offer, select “buy,” choose the fiat currency you intend to use, and enter the amount.

Once your order is generated, make the payment and follow this up by notifying the seller. As soon as they confirm they have received the funds, they will release the Cardano to you.

Kraken

If you are looking for where to trade Cardano, Kraken is another cryptocurrency exchange that will draw you.

The exchange is highly liquid and supports 185+ cryptocurrencies. It also offers lower fees to advanced traders and is used by more than nine million people worldwide.

Speaking of fees, Kraken charges a 1.5% fee per transaction. However, it does not charge any fees for account maintenance.

When it comes to payment options, Kraken supports:

  • Debit/credit cards
  • Bank transfers
  • E-wallet options

To buy Cardano using Kraken, you need to have an account. The exchange has different requirements for the various account levels.

For the basic one, you must provide your full name, email address, date of birth, phone number, and location pin.

The process of buying Cardano on Kraken is quite straightforward:

  • Set up and verify your account
  • Fund your account using the accepted options
  • Select the “buy crypto” option from the menu bar
  • Choose Cardano (ADA) from the drop-down menu
  • Complete the purchase

eToro

Backed by a stellar reputation, eToro is one of the best places to buy Cardano tokens.

The platform supports 120+ coins. It also offers a unique social investing feature that lets you match expert traders’ moves.

eToro is highly regulated and is trusted by 25 million people worldwide. One of the best attributes of eToro is its transparency.

The exchange charges a 1% fee and supports several payment options, including:

  • Debit/credit cards
  • Bank transfers
  • E-wallet options

To apply for an eToro investment account, you must be at least 18 years old and live in a country where the exchange offers its services. You will also need a personal computer or smartphone and a valid email address.

eToro offers one of the easiest ways to buy Cardano; here’s how you will go about it.

The process of buying the token is the same across the board:

  • Log into your eToro account
  • Deposit funds into your eToro account using any of the allowed payment options.
  • Select ‘ADA’ from the listed cryptocurrencies
  • Complete the purchase

CEX.IO

Founded in 2013, CEX.IO is one of the best platforms to buy Cardano on.

It is one of the most trusted cryptocurrency exchanges and offers advanced features that make trading seamless. The platform also supports 120+ cryptocurrencies, including Bitcoin, Ethereum, Tether, and Cardano.

CEX.IO employs a taker-maker fee schedule that descends with a higher amount. The taker and maker fees are capped at 0.25% and 0.15%, respectively.

The London-based exchange also supports various payment methods, including debit/credit cards, bank transfers, and e-wallet options.

If you want to buy Cardano on CEX.IO, here’s how you will go about it:

  • Set up a CEX.IO account
  • Sign in
  • Choose the ‘products’ option from the menu bar
  • Tap ‘Instant Buy’
  • Select ‘ADA’ from the available options
  • Choose the fiat currency you would like to use
  • Complete the purchase

Crypto.com

Due to having robust security structures, the Crypto.com platform might just be the best place to buy ADA on. Besides its top-notch security, the platform supports 250+ cryptocurrencies and is used by 50 million people worldwide.

Crypto.com’s fees are quite reasonable —  the maker-taker fees are capped at 0.075%.

The Singapore-based exchange accepts several payment methods, including credit/debit cards, bank transfers, and e-wallet options.

To buy Cardano on Crypto.com, follow the process outlined below.

  • Sign up for an account and verify your identity
  • Connect your DeFi wallet to your Crypto.com account
  • Select the Cardano (ADA) wallet
  • Connect the wallet with your Crypto.com account.
  • Confirm whether you have linked the card you wish to use in the Crypto.com App.
  • Select Cardano in the ‘Top Coins’ section or click on ‘Buy Now’
  • Enter the purchase amount
  • Select the debit/credit card you want to use
  • Confirm the purchase

After this, you might be required to complete 3DS verification. Once this is done, the Cardano will arrive in your wallet.

Wrap Up

The biggest lesson we have learned from the cryptocurrency industry so far is that innovation goes a long way. It goes even further if it solves a problem.

Since its introduction, Cardano has performed reasonably well. However, to predict its future, we must look at how innovative it has been so far.

Over the years, two of the most established blockchains have struggled to strike a balance between profitability and remaining sustainable.

Cardano has managed to get this right by keeping fees low. So far, its future looks bright.

If you’re interested in purchasing Cardano’s native coin, ADA, all you have to do is pick the right exchange. With so many of them that offer great deals, you’re bound to find one that suits you the most.

ABOUT AUTHOR

I’m a Kenyan journalist and professional writer. I move words around creatively enough to make you reread a piece. In my home office, you will find a quill and a bottle of ink. That’s how seriously I take this craft. Indulge me.

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