How to Buy Cardano (ADA) in 2021

Cardano is one of the many altcoins that exists in the cryptocurrency market and poses intriguing investment opportunities.

Before you buy Cardano (ADA), you need to consider several factors, such as where and how to buy Cardano (ADA) and how to keep yourself safe while doing so. 

On this page, we’ll cover everything you need to know about ADA, how to buy it, what to consider, how to store and sell Cardano in addition to having your more common questions answered. 

Best way to buy Cardano (ADA) in 2021

You’ll find plenty of places to buy Cardano online. But to save you from needing to do more research than is necessary, we’ve put together a list of the best Cardano brokers below: 

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal
2
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Trade and invest in over 25 cryptocurrencies
Extremely simple user interface
Over 68 million customers
3
Minimum Deposit
$100
Exclusive Promotion
User Score
7.3
Trade over 2000+ assets
CFDs are complex instruments and, because of the leverage they provide, there is a high risk of losing money quickly. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
4
Minimum Deposit
$50
Exclusive Promotion
User Score
6.5
First transaction fee free
24/7 customer service
Instant payouts
5
Minimum Deposit
$50
Exclusive Promotion
User Score
6
Hot wallets include insurance to protect your assets from theft and hacking attempts

What is the difference between buying and trading Cardano?

When researching Cardano (ADA), you’ll most likely bump into two terms: buying and trading. From the outside, they look the same, however, that’s not necessarily the case. Below, you’ll find a quick explanation of these two investing methods:

  • Buying Cardano: You own the ADA outright after purchasing.
  • Trading Cardano: Crypto trading is when you buy and sell ADA for profit. After purchasing Cardano (ADA), you can use ADA to sell on the market and make a profit. 

How to buy Cardano (ADA) online

Signing up for a cryptocurrency exchange is the easiest way to buy Cardano online. To do this follow the steps below: 

  1. Find a cryptocurrency exchange and verify your identity.
  2. Sign up for your exchange of choice. 
  3. Decide on how you want to trade. Do you want to go for something short-term, or are you more interested in the long-term?
  4. Buy Cardano (ADA).

How to trade Cardano

Some people prefer to trade ADA rather than buying ADA outright. If you fall into this category and want to trade ADA, the initial setup phase is a little different: 

  1. Find a cryptocurrency broker or a trading platform that suits your needs
  2. Open an account.
  3. Deposit money into your account. 
  4. Decide on you want to trade. 
  5. After putting together your strategy, start trading Cardano.

What are the different ways to pay for Cardano?

You can buy Cardano (ADA) from several places online and use different payment methods to acquire the coin. Ways to pay differ from fiat currency trading (such as USD, GBP, EUR, etc..), so it’s worth understanding each method. 

Below, you’ll find the top ways you can pay for Cardano: 

Bank Transfer

Bank transfers are one of the most reliable ways to pay for Cardano (ADA). Almost every cryptocurrency marketplace will accept this as a payment method. You can often use a wire transfer if you’d rather do that than a standard bank transfer. 

You can also link your bank account to your profile to make future transactions quicker and easier. 

Pros 

  • Widely accepted 
  • You don’t need to share your card details 
  • Easy to make transactions 

Cons 

  • You might need to pay fees
  • Your bank can decide whether it wants to process the transaction or not 

How to buy Cardano (ADA) using bank transfer

To buy ADA with bank transfer, you simply need to select bank transfer as a payment method when depositing fiat currency (such as USD, GBP, EUR, etc..) to the exchange or a cryptocurrency broker.

PayPal 

PayPal is a popular digital wallet, and some cryptocurrency brokers and exchanges will let you use the service to fund your account and buy Cardano. It’s worth noting that PayPal isn’t yet as well-developed in the cryptocurrency space as it is with fiat currencies (such as USD), but that will likely change in the future. 

Pros

  • Instant transactions 
  • Easy to sign up for an account 
  • Secure payments 

Cons

  • Not accepted at many exchanges 
  • You might need to pay higher fees 

How to buy Cardano (ADA) using PayPal

Once you sign up with a cryptocurrency broker or an exchange, you need to select PayPal as a preferred payment method to deposit fiat currency (such as USD, GBP, EUR, etc..) and buy Cardano. However, its worth noting that not all providers will accept PayPal deposits.

Debit and Credit Cards

Most exchanges and cryptocurrency brokers will allow you to fund your account and buy Cardano (ADA) using a debit or credit card. The process isn’t much different from depositing into a betting account. Once you’ve chosen how much you wish to deposit and verified the payment, the money will appear in your account.

Pros

  • Widely available 
  • Payments are secure 
  • Easy to use 

Cons 

  • No anonymity 
  • High fee

How to buy Cardano (ADA) with debit or credit card

Buying ADA with debit card, credit card, amex or pre-paid card is probably the easiest way to buy ADA. Most of the time you will need to add your card details during the sign up process, and this will be used as a default payment option.

Cash

On some P2P marketplaces, you can buy Cardano using cash. You’ll typically start the order online before meeting the seller to complete the transaction. 

Pros

  • Anonymity 
  • You don’t need to share your banking details 
  • Easy to complete

Cons 

  • You might not be able to buy Cardano (ADA) with cash in your local area 
  • Once the money is in a recipient’s account, you can’t reverse the transaction

How to buy Cardano (ADA) with cash

If you want to buy ADA with cash, it might be a bit tricky. There are few options available:

  • Find someone on a P2P marketplace to meet in person to buy ADA from. Simply ask them to send ADA to your wallet, and hand over the cash. However, be careful with strangers as its not the safest way to buy Cardano.
  • Use Bitcoin ATM to deposit cash to an exchange, and then trade Bitcoin to Cardano (ADA).

What to consider when buying ADA

If you want to buy Cardano (ADA), you need to make a few considerations – especially if you have little or no experience with crypto.

Below, you’ll find all of the key things to keep in mind. After reading them, you’ll be able to make a more educated purchasing decision:

  • Volatility: Crypto is very volatile by nature, and Cardano is no different. The coin’s value fluctuates frequently, and you could lose a lot of money if you don’t know what you’re doing. Make sure you keep up with market trends and don’t make any knee-jerk selling decisions. 
  • Regulations: Although buying ADA is legal in most countries, some have banned cryptocurrencies. Moreover, each country has their own rules for crypto trading and using cryptocurrency brokers. Make sure you do your research before buying.
  • Long-term Holding (HODL): Hold on for dear life, also known as HODL, means holding onto your coins for the long-term. It’s often used as an investment strategy to maximize profits and make more rational decisions. 
  • Short-term Holding: Short-term holding refers to buying and selling coins based on short-term market speculation.
  • Fees: When using an online trading platform, you’ll often have to pay extra fees when buying ADA. Some will charge you a fee for depositing, while you’ll also usually pay withdrawal charges. Be sure to assess all your options to get the best deal. 

Is it safe to buy ADA online?

If you use one of the reputable crypto exchanges (such as Coinbase), you can safely buy and sell Cardano online. However, these platforms are prime targets for security threats, so you need to make sure to exercise caution to keep yourself safe. 

You can improve your online security when buying ADA by doing the following:

  • Only asking for help on official websites 
  • Passing only the necessary know-your-customer (KYC) checks such as basic personal details and the phone number verification
  • Using hard-to-guess passwords and adding two-factor authentication (2FA)
  • Using secure digital wallets for storing your coins if you don’t plan to sell them soon 
  • Reading customer reviews
1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal

How to store Cardano (ADA)

Storing coins refers to putting your money in a crypto wallet after purchasing them. Besides keeping your digital assets organized, putting ADA in a wallet is vital for protecting yourself if a security breach should occur. 

You can use a variety of digital wallets to store Cardano. Consider the following when choosing a wallet: 

  • Cold Wallet: These wallets are offline and can either be on a hardware or on a piece of paper with a code written on it. Wallets of this kind are the safest options you can use, but with a hardware wallet you will need to remember the sign-in details and with a paper wallet you will need to safely store the paper with the keys. However, its worth a note that even a hardware wallet can be hacked.
  • Online Wallet: Several online Cardano wallets exist. You can use an online wallet to access your coins from anywhere and will need to verify your identity when you sign in. 

How to sell Cardano

Now that you know how to buy Cardano, lets take a look at how to sell ADA. If you see an opportunity to sell Cardano and make a profit, you’ll want to know where you can sell. Several options exist, and we’ve listed the most common ways to sell Cardano below: 

Cryptocurrency Exchanges 

Crypto exchanges such as Coinbase are the easiest place to sell Cardano coins. When you sell them, you’ll receive the platform’s rate for these. Compared to P2P exchanges (more on those in a moment), you won’t need to find a suitable buyer before being able to sell. 

Pros

  • Easy for beginners to sell 
  • No buyer required 
  • Secure transactions 

Cons

  • Rates vary, so you’ll need to do your research to find the best deal
  • You might need to pay fees 

Decentralized Exchanges

You can also sell Cardano using a decentralized exchange, also known as peer-to-peer (P2P) exchanges. In practice, these don’t work too differently from centralized ones. The only real difference is that no middleman exists in the sale and the transaction happens between two cryptocurrencies. 

Pros

  • You could get a better rate compared to a centralized exchange
  • Higher levels of transparency and you can speak to the buyer before selling
  • Quick transactions in most cases 

Cons

  • The risk of scams exists 
  • Transactions can sometimes take longer 

CFD Brokers

If you bought a Cardano asset rather than the coin outright, you can sell using a contract for difference (CFD) broker such as eToro. Beginners often start with a cryptocurrency brokers because the learning curve isn’t as steep. 

Pros

  • Multiple cryptocurrency selling options 
  • Quick transaction execution 
  • Potentially more cost-effective 

Cons 

  • Higher risks and less control because you don’t own ADA 
  • Volatility 

Is it worth buying Cardano right now?

Because of the cryptocurrency market’s volatility, buying any coin carries risks and is subject to market risk. You’re responsible for shouldering those crypto trading risks.

Cardano has stolen several headlines for its significant growth and large trading volumes in 2021, which has led to many investors wondering if ADA is a good buy.

But despite the progress made this year, it’s probably worth holding off buying for now and watching the coin’s long-term stability. Instead of Cardano, we recommend looking into Bitcoin Cash or Ethereum.  

Final thoughts on buying Cardano in 2021

Cardano’s popularity has surged in 2021, and now, it has become one of the better-known altcoins. Several online marketplaces offer the ADA as a buying option, with numerous payment methods available.

If you feel that Cardano is the right investment for you, we recommend using eToro and Binance to buy Cardano with a bank transfer to complete the transaction.

Now that you know how to buy Cardano, use one of the providers below to get started.

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal
2
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Trade and invest in over 25 cryptocurrencies
Extremely simple user interface
Over 68 million customers
3
Minimum Deposit
$100
Exclusive Promotion
User Score
7.3
Trade over 2000+ assets
CFDs are complex instruments and, because of the leverage they provide, there is a high risk of losing money quickly. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FAQs

If you’re still struggling and wondering how to buy Cardano online, have a read of these frequent questions.

Can I buy Cardano in any country?

Cardano is borderless so as long as cryptocurrencies are legal where you live, you shouldn’t have any issues making a purchase. 

Is there a limit to how many Cardano I can buy?

Online platforms will set their own limits on how many coins you can buy. Before you pick one, read up to make sure they fit your needs. 

Can I buy Cardano without an ID?

Exchanges will ask you to verify your identity using a photo ID, such as a passport or driver’s licence.

Can I buy Cardano instantly?

Yes. Once you’ve funded your account with fiat currency such as USD or GBP, transactions will be instant. 

What is Cardano?

Cardano is a blockchain launched in 2017 with a ADA token / cryptocurrency. It was designed to compete with Ethereum utilising similar smart contracts. 

How does Cardano work?

Cardano operates on the Cardano blockchain system using smart contracts and aims to be most sustainable blockchain system compared to other cryptocurrencies such as Ethereum and Bitcoin.

The coin works similarly to the technology of Bitcoin and Ethereum. You can use it to buy goods, trade on exchanges and broker platforms, and more. 

Latest Cryptocurrency News

  • MyEtherWallet To Launch New NFT Collection To Honour Ethereum
    MyEtherWallet (MEW), a wallet and interface for participating in the Ethereum blockchain, has plans to launch a new collection of NFTs called ETH Blocks that will represent particular Ethereum blocks. 
  • Why Did Bitwise Withdraw Bitcoin Futures ETF?
    Bitwise, the crypto index fund provider, has announced that it has withdrawn the Bitcoin Futures ETF in the US. Instead, the firm has said that it will focus on getting a spot-based ETF launched. 
  • Twitter Launches Twitter Crypto Taskforce
    blockchains and other decentralised technologies. This is according to Tess Rinearson, who has been picked to lead the new initiative.