How to Buy Cardano in 2024 – Buy ADA

Cardano (ADA) is often referred to as the next “Ethereum Killer” with its high scalability, low transfer fees, and smart contract functionality. However, cryptocurrency is still in its early stages, and there is still a lot of progress to be made, leaving many to believe that ADA is a long-term investment proposition.

This guide will focus on the best platforms to invest in Cardano, such as Coinbase, Binance, along with some easy step-by-step guides to help you begin investing.

Best Crypto Exchanges to Buy ADA

Best Platforms to Buy and Trade ADA

Now let’s dive into the best crypto brokers and crypto exchanges for buying ADA.

Buy ADA using cryptocurrency brokers – the easiest way

The easiest way to purchase ADA is by using cryptocurrency brokers since they offer simple interfaces and buying processes. The options below offer multiple deposit methods, charting tools, and high levels of security.

Pepperstone

Pepperstone is a useful platform for trading Cardano due to its user-friendly interfaces. Also, this broker has an in-depth learning section that teaches beginners various subjects about trading. Also, you can open a demo account to familiarize yourself with what you’ve learned before trading with real money.

Coinbase

Coinbase is a top exchange that recently changed its fees to more favorable rates. Clients can purchase ADA using multiple trading pairs, and the exchange offers a private wallet to hold your coins securely.

Binance

This crypto exchange offers an outstanding service for purchasing ADA because of its several deposit methods, trading pairs for ADA and other crypto assets, and passive investment opportunities afterward. Moreover, Binance provides trading interfaces with tools for beginners and experts.

Best Wallets to Buy and Store ADA – Comparison

Cryptocurrency wallets are devices or software that will hold your coins securely. Hardware wallets are the preferred way to store your crypto assets, as leaving them on an exchange can be risky because they are targets for cyber attacks. Moreover, software wallets are free to use, and the only cost you’ll encounter is transfer fees. Therefore, we advise using them after investing in ADA or other cryptocurrencies. Hardware wallets are safer.

Also, Bitcoin wallets are often compatible with multiple coins, so you can use them to store all your investments.

Buy ADA Using CFDs – Best for Trading

Brokers have entered the cryptocurrency market by offering CFDs (Contract for Differences) to their clients. This is a derivative product, so you will not own real coins. However, cryptocurrency brokers often have an easier buying process, making them convenient for beginners. Here are the top three platforms for acquiring Cardano.

Pepperstone

Pepperstone is a useful platform for trading Cardano due to its user-friendly interfaces. Also, this broker has an in-depth learning section that teaches beginners various subjects about trading. Also, you can open a demo account to familiarize yourself with what you’ve learned before trading with real money.

Eightcap

Eightcap is a popular CFD broker that supports over 250 cryptocurrencies, including Cardano. Perhaps their best feature is social trading, which lets you look at successful portfolios and copy them. Also, their customer support is amazing, so you can receive help quickly when investing in ADA.

Best Apps to Buy ADA – Most Convenient

The most convenient way to buy Cardano is through a cryptocurrency exchange due to their simple convert pages and competitive fees. They also let you withdraw coins to a private wallet for better protection. These are our top three picks that offer the most convenience.

Buy ADA with Exchanges – The Cheapest Way

Cryptocurrency exchanges offer different fee structures that will impact the quantity of ADA you can buy. We advise using Binance and KuCoin since they have native cryptocurrencies, which give a 25% discount on fees. On the other hand, Kraken is known for being the “People’s Exchange” and having reliable security.

Buy ADA on Binance: Step-By-Step Guide

Buy ADA Using Decentralized Exchanges (DEX) – The New Way

Decentralized exchanges are dApps that let you trade coins without revealing your identity. They work by using smart contracts, so only cryptocurrencies like Ethereum, Cardano, and Binance Coin can host them. Also, you’ll need a crypto wallet to connect to a DEX, so you cannot trade with fiat currency. Here are the top decentralized exchanges for buying ADA:

Buy ADA on PancakeSwap: Step-By-Step Guide

Can You Buy ADA Using P2P Services?

After thoroughly researching the top P2P platforms, they do not offer buying opportunities for ADA. However, you can find buyers or sellers through social media groups centered around your location. Afterward, you can set up the time, location, and spreads yourself. This buying method is often cheaper as you don’t have to pay exchange rates, and Cardano has low transfer fees.

Can You Buy ADA Using Other Trading Platforms?

Now we’ll go over the most popular platforms and if you can buy ADA through them. Also, the fee rates will be disclosed for full transparency.

What Is the Difference Between Buying ADA and CFDs?

This section highlights the main differences between owning ADA and buying CFDs.

Contract for Differences is a derivative product that a broker can issue. This means you do not convey ownership of ADA when investing through this method. Therefore, you cannot withdraw to a crypto wallet or spend them. On the other hand, buying ADA means you have full control of your coins and can transfer them between wallets.

Best Ways to Buy ADA

This part of the guide will go over on the best methods of acquiring Cardano.

Buy ADA instantly with online banking – the fastest way

Coinbase Pro allows clients to transfer money via online banking. They will provide their information based on the deposit method you select. For example, selecting EUR showcases SEPA transfer details. Typically, transfer speeds from your bank account take a few minutes to an hour to complete.

Buy ADA with PayPal – the safest way

PayPal does not offer Cardano through their crypto section.

Buy ADA using a debit card – the cheapest way

Debit cards are widely available, and you can use them on most exchanges such as Binance, KuCoin, and Coinbase.

Buy ADA using a credit card

Perhaps the best platform to buy ADA via credit card is Crypto.com. They provide several great features for investors like staking programs, debit cards with cashback rewards, and multiple trading pairs for ADA.

Best Platforms to Buy ADA in Other Countries

The top exchanges operate in multiple regions and offer great buying opportunities in ADA. Take a look at the best options based on each individual country.

What Are the Fees When Buying ADA?

Most exchanges have fixed fee rates when purchasing ADA, making it easier to calculate the expected costs. This table shows the standard fees you’ll pay to buy $1,000 worth of ADA and hold for 30-days.

Cheapest Way to Buy ADA

The best way to buy ADA is through a large cryptocurrency exchange as they provide the best fee structures. Here’s a rundown of providers that offer ultra-low fees.

Fastest Way To Buy ADA

The fastest way to acquire ADA is with a crypto broker or exchange that provides simple buying interfaces. All of the platforms listed have simple pages for converting money to Cardano. Also, they have trading software for experienced investors.

Should You Buy or Sell ADA?

If you’re undecided if ADA is a great cryptocurrency, here are some pros and cons:

ADA Price Prediction: What Is the Future of ADA?

ADA is a popular coin that has experienced significant rallies and huge drops during the bear market. We’ll highlight what can impact the coin’s price and its historical milestones.

What impacts ADA Price?

Several factors can impact the price of ADA, such as:

Demand: The cryptocurrency mainly specializes in smart contracts, so if there is demand for dApps with the coin, it will increase the price. However, low demand for Cardano apps will negatively impact the value.

Marketing: Perhaps the biggest factor is marketing because more potential investors see the coin and buy into it.

Competition: There are many “Ethereum killers” today offering smart contracts and better transaction fees. However, the increase in competition means businesses and people would use alternative coins than Cardano, decreasing the demand.

Regulations: Crypto regulations are becoming stricter, making investing and spending ADA more difficult.

Market Status: How the market is performing plays a huge role. If there is a bear market, we can expect ADA’s value to be low. On the other hand, if we are in a bull market, then ADA will rise in price as more investors purchase the coin.

Other Ways to Make Money With Cardano in 2024

Here are different ways you can invest your money with Cardano.

Stake ADA using DeFi or CeFi

Cardano is available to stake on Binance through their earning programs. Also, you can use decentralized exchanges that offer Cardano staking and liquidity pools.

Buy ADA using ETPs (ETFs & ETNs)

Unfortunately, there are not many platforms that offer ADA ETPs. CoinShares is one of the only sites that issue Cardano ETPs.

Buy and sell NFTs using ADA

Cardano has NFT capabilities and currently hosts over 800,000 pieces of art. The top marketplace for Cardano NFTs is CFNT.io.

Buy stocks and shares in companies owning Cardano

There are no companies that have disclosed if they bought or are holding shares in Cardano. The only recent news is FD7 Ventures have bought $380 million worth of ADA, but they do not have tradable stocks.

Cardano mining

ADA cannot be mined because it uses a POS system.

Use Cardano faucets

Faucets are rewards given by a cryptocurrency exchange for completing easy tasks. The best way to earn cryptos like ADA is through Coinbase’s earn section.

What Cryptocurrencies Are Similar to ADA?

Below you’ll find alternative smart contracts coins you may want to look into.

Best Alternatives to ADA

Solana

Both Cardano and Solana are smart-contract-enabled projects that provide their communities with access to a variety of functionalities within their respective decentralized financial ecosystems (DeFi), which is one of their many commonalities. Solana and Cardano have been called “Ethereum killers” on numerous occasions, but Solana has supported this concept with its fast transactions, scalability, and low transaction costs.

Sandbox

Users of SAND can trade it on major exchange platforms. Creators and players have many DeFi opportunities in the virtual sandbox world, and in the Metaverse, users can buy, develop, and trade virtual land.

Polygon

MATIC is the native cryptocurrency of the Polygon blockchain and an ERC-20 token. Sandbox rewards contributors who help secure the blockchain and pay transaction fees.

What to Consider when Investing in ADA

The project’s developers have some ambitious goals in mind. By integrating Cardano technology, the team aims to restore trust in international economic systems. In particular, the platform presents an international business model that is safer, more transparent, and more sustainable.

In addition, the creators of Cardano want to make financial services accessible to people who are unbanked. It is estimated that there are currently over 1.7 billion unbanked people. With this in mind, Cardano is actively working on initiatives in Africa and other underdeveloped countries.

Cardano’s third goal is to help stabilize the dApp market. Applying security and sustainability specifically to decentralized applications, systems and society is the main focus of the platform.

Is It Still Worth Investing in ADA or Not?

ADA is definitely worth buying if you want to hold long-term because the coin has an amazing development team, a detailed roadmap, and multiple use-cases. The coin has experienced significant growth during bull runs and is often referred to as the next “Ethereum killer”. Therefore, many consider ADA a safe investment in the crypto world.

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