HomeHow to Buy Cardano in the UK in 2023

How to Buy ADA in the UK in 2023

Last updated 16th Jan 2023
Disclosure

Cardano (ADA) is often referred to as an "Ethereum killer" with its high scalability, low transfer fees, and smart contract functionality. However, cryptocurrency is still in its early stages, and there is a lot of progress to be made, leaving many to believe that ADA is a promising crypto investment opportunity.

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

The Cardano blockchain was created by Charles Hoskinson, who was also the co-founder of Ethereum. Cardano's cryptocurrency is called ADA.

Best Exchanges to Buy ADA in the UK

1
eToro
Minimum Deposit
$50
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User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
2
Opensea
Minimum Deposit
$
Exclusive Promotion
User Score
7
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3
NBA Topshot
Minimum Deposit
$
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User Score
7
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4
Rarible
Minimum Deposit
$
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User Score
7
Aggregated NFT marketplace
5
SuperRare
Minimum Deposit
$
Exclusive Promotion
User Score
6
NFT Art Marketplace

eToro - The Overall Best Way to Buy ADA in the UK

eToro is an established broker with over 28.5 million registered users. They offer a diverse amount of cryptocurrencies, including ADA. Let's look at the platform’s stats:

💰 Trade Values:CFDs, Cryptocurrencies, Stocks, and Commodities.
📊 Software:Website and smartphone app.
🏆 Demo Account Available:Yes
📺 Ease of use:Excellent
⭐ Our rating:5/5
📱 App Available:iOS and Android
🧩 Regulation:Cyprus Securities and Exchange Commission (CySEC)
💰 Fees:1% of purchase order
🔁 CFDs Available:Yes
⚽ Social Trading:Yes

Best Platforms to Buy and Trade ADA in the UK

Now let’s dive into the best crypto brokers and 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, trading pairs for ADA, and high levels of security for UK investors.

ProviderFee (GBP 1000)Get Started
🥇 eToro£8.50Start with eToro now
🥈 Coinbase£5.20Start with Coinbase now
🥉 Binance£0.075Start with Binance now

eToro

This crypto broker is one of the best options available as they offer multiple features like copy trading, e-wallet deposits, and an option to withdraw to a crypto wallet. We highly recommend eToro for purchasing ADA.

Coinbase

Coinbase is another popular exchange in the United Kingdom and recently changed its fees to more favorable rates. Clients can purchase ADA using multiple trading pairs, in addition, the exchange offers a private wallet where UK customers can hold coins securely on their desktop or mobile.

Binance

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

Buy ADA on eToro: Step-by-Step Guide

Step 1: Sign up
Step 2: ID verification
Step 3: Top up your account
Step 4: Purchase Cardano
Additional Step: Send Cardano to a Wallet

Best Wallet to Buy and Store ADA in the UK - ADA Wallet Comparison

Cryptocurrency wallets are physical devices or software that will hold your coins securely. They are the preferred way to store your coins, as leaving them on an exchange can be risky due to 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 buying in ADA or other cryptocurrencies.

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

ProviderWallet TypeGet Started
🥇 Ledger Nano XHardwareStart with Ledger now
🥈 Trust WalletSoftwareStart with Trust Wallet now
🥉 Guarda WalletSoftwareStart with Guarda Wallet now

How to Sell ADA in 2023 Using eToro?

eToro makes it convenient to cash out your investment. Here’s a step-by-step guide to help you.

  • Step 1: Sign in to eToro via desktop or smartphone

  • Step 2: Open the crypto section and click on ADA, which opens the trading interface.

  • Step 3: Press the sell tab at the top of the page.

  • Step 4: Input the amount to sell.

  • Step 5: Press “Open Trade” to finish the order.

Buy ADA in the UK Using CFDs - Best for Trading

Brokers have entered the cryptocurrency market by offering CFDs (Contract for Differences) to their clients and this is also available for UK investors. 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 to enter and exit market swings. Here are the top three platforms for acquiring ADA.

eToro

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

Eightcap

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

Best Apps in the UK to Buy ADA - Most Convenient

The most convenient way to buy ADA is through a cryptocurrency exchange due to their 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:

ProviderFee (GBP 1000)Get Started
🥇 CoinbaseThe spot trading fee starts at 0.6%. Varies based on trading volume.Download now
🥈 BinanceThe spot trading fee starts at 0% and goes up to 0.1%.Download now
🥉 Kraken£2.25. Varies based on trading volumeDownload now

Buy ADA on eToro App: Step-By-Step Guide

Step 1: Sign up
Step 2: Verify your account
Step 3: Deposit
Step 4: Purchase Cardano

Buy ADA with Exchanges - The Cheapest Way

Exchanges offer different fee structures that will impact the quantity of ADA you can buy. We advise using Binance or 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.

ProviderFee (USD 1000)Get Started
🥇 BinanceThe spot trading fee starts at 0.075%.Start with Binance now
🥈 KuCoinThe spot trading fee starts at 0.1%.Start with KuCoin now
🥉 Kraken£2.25Start with Kraken now

Buy ADA on Binance: Step-By-Step Guide

Step 1: Create an account
Step 2: Add funds
Step 3: Enter the trading platform
Step 4: Execute the trade
Additional Step: Confirm the transaction using the blockchain explorer

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:

ProviderFee (GBP 1000)Get Started
🥇 dYdXVariesGet started now
🥈 SundaeSwapVariesGet started now
🥉 ADAXVariesGet started now

Can you buy ADA using P2P services?

After thoroughly researching the top P2P platforms, we found that they do not offer 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 ADA has low transfer fees.

Can you buy ADA using other trading platforms?

This section looks at the most popular platforms and examines whether or not users can buy ADA here. The fee rates are also included for full transparency.

Cryptocurrency PlatformCan You Buy ADA?Fee (GBP 1000)Review
BinanceYesThe spot trading fee starts at 0.075%.Binance review
TD AmeritradeNo£0N/A
BitstampYesThe spot trading fee starts at 0.5%.Bitstamp review
BittrexYesThe spot trading fee starts at 0.35%.Bittrex review
CoinbaseYesThe spot trading fee starts at 0.6%.Coinbase review
PoloniexYesThe spot trading fee starts at 0.15%.Poloniex review
BitMartYesThe spot trading fee starts at 0.25%.N/A
BitrueYesThe spot trading fee starts at 0.2%.Bitrue review
BlockFiNo£0N/A
CoinDCXYesThe spot trading fee starts at 0.2%.N/A
CoinSwitchYesThe spot trading fees are 0% to 0.5%.N/A
Crypto.comYesThe spot trading fee starts at 0.4%.N/A
EtherDeltaNo£3N/A
E*TRADENoN/AN/A
FidelityNoN/AN/A
Gate.ioYesThe spot trading fee starts at 0.2%.N/A
HotbitYesThe spot trading fee starts at 0.2%.N/A
KrakenYes£2.25Kraken review
KuCoinYesThe spot trading fee starts at 0.1%.KuCoin review
RobinhoodNo£0N/A
UpholdYesThe spot trading fee starts at 0.75% above the market rate.N/A
VenmoNoThe spot trading fee starts at £1.75.N/A
VoyagerYes£0N/A
WazirXYesThe spot trading fee starts at 0.2%.WazirX review
WealthsimpleYes1.5% of the purchase order.N/A
WebullYesThe spot trading fee starts at 0%.N/A

What Is the Difference Between Buying ADA and CFDs?

This section highlights the main differences between owning ADA and buying CFDs in the United Kingdom. Contract for Differences is a derivative product that a broker can issue to track underlying assets. This means you do not have ownership of ADA tokens when investing through this method. Therefore, you cannot withdraw to a crypto wallet or spend them. On the other hand, buying real ADA means you have full control of your coins and can transfer them between wallets.

Pros

Liquidity is not an issue when buying Cardano
Trade around market volatility
Limited options of brokers that offer ADA
Buying process is a lot easier than exchanges

Cons

High fees compared to buying the real asset
No option to stake your ADA
You do not convey ownership of ADA
Cannot withdraw to a private wallet unless you use eToro

Best Ways to Buy Cardano (UK)

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

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 GBP deposits will open up UK transfer network details. Typically, transfer speeds take a few minutes to an hour to complete.

Buy ADA with PayPal - the safest way

PayPal does not offer ADA through their crypto section. Fortunately, you can use it as a deposit method on eToro and buy ADA via the trading platform.

Buy ADA using a debit card - the cheapest way

Debit cards are widely available, and you can use them on most cryptocurrency 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 country.

CountryBest ProviderProvider TypeFee
AustraliaCoinbaseExchangeThe spot trading fee starts at 0.6%.
the UKCoinbaseExchangeThe spot trading fee starts at 0.6%.
BangladesheToroBroker£8.50
CanadaBinanceExchangeThe spot trading fee starts at 0.1%.
HawaiiGeminiWallet appThe spot trading fee starts at 0.25%.
IndiaWazirXExchangeThe spot trading fee starts at 0.2%.
JapanKuCoinExchange£0
NepalKrakenExchange£2.25
New ZealandBinanceExchangeThe spot trading fee starts at 0.1%.
PakistanKuCoinExchangeThe spot trading fee starts at 0.1%.
PhilippinesBinanceExchangeThe spot trading fee starts at 0.1%.
SingaporeCrypto.comExchangeThe spot trading fee starts at 0.4%.
South AfricaeToroExchange£8.50
UAECoinbaseExchangeThe spot trading fee starts at 0.6%.

What Are the Fees When Buying Cardano (UK)?

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.

PlatformeToro BrokerCoinbase ExchangeBinance Exchange
Deposit fees£0£0£0
Purchase fees£8.50£5.20£0 to £1
Holding fees£0£0£0
Selling Fees£8.50$4£0.86
Payout fees£4.30£8.50£13
Total fees£21.50£17£15

Cheapest Way to Buy ADA

The best way to purchase 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.

ProviderFee (GBP 1000)Get Started
🥇 BinanceThe spot trading fee starts at 0% but can go to 0.1%. Varies based on trading volumeDownload now
🥈 KuCoinThe spot trading fee starts at 0.1%. Varies based on trading volumeDownload now
🥉 Kraken£2.25Download now

Fastest Way to Buy ADA

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

ProviderFee (USD 1000)Get Started
🥇 eToro£8.50Get started now
🥈 CoinbaseThe spot trading fee starts at 0.6%. Varies based on trading volumeGet started now
🥉 Kraken£2.25Get started now

How to Buy ADA Anonymously?

This section will provide information on how to buy ADA without revealing your identity. Decentralized exchanges are the best option because you can buy and sell ADA anonymously. They let you connect your crypto wallet to a dApp for trading. Therefore, no account creation or ID is necessary.

How to buy ADA without registration or KYC?

Cryptocurrency exchanges will let you deposit coins and trade without completing a KYC. However, you cannot deposit fiat currency, so you must have crypto in your wallet beforehand. The platforms that let you deposit and trade without a KYC are KuCoin and Binance.

How to buy ADA without verification?

Most cryptocurrency exchanges (centralized) require the users to complete the KYC verification in order to start trading cryptocurrencies, depositing fiat currency, and executing withdrawals. However, some exchanges like Kucoin allow P2P crypto trading without KYC verification. Alternatively, you can use a Cardano DEX.

Can you buy ADA offline?

You cannot buy ADA offline since DEXs, CEXs, brokers, and P2P platforms require an internet connection to trade.

Should You Buy or Sell Cardano?

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

Pros

Expert development team working on the project.
Ultra-low fees for transferring coins between wallets.
Cardano is future-proof and ensures unlimited scalability with quick transfers.
Cardano is open-source.
Using a proof of stake protocol ensures the blockchain cannot be breached by malicious attacks.

Cons

Cardano’s price is unstable.
Cardano is still in development, and there is a lot of progress to be made.
Marketing can do a better job of advertising Cardano. They are technologically more advanced than most coins, but the price does not reflect that.
Charles Hoskinson is a controversial figure (One of the Cardano founders), which can have a negative impact on the project.
Most of the circulating supply is in staking protocols, so the price may be inflated due to coins not being used.

Alternatively, if you think ADA is not something you're ready to put your GBP in, check out these guides to buying other coins in the UK:

Do You Need to Pay Tax when Buying Cardano (UK)?

Yes, you must pay capital gains tax on crypto that you’ve sold at a profit in the UK. For capital gains over the £12,300 tax-free allowance, you'll pay 10% or 20% tax. For additional income from crypto over the personal allowance, you'll pay between 20% to 45% in tax.

Remember, you must pay capital gain tax on crypto that you’ve sold and made profits in the UK.

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's price?

Several factors can impact ADA's price, 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. With ever increasing competition and innovation, there are a lot of impressive projects fighting to be at the top.

  • 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.

Historical ADA Course: Major Milestones in the History of Cardano

Cardano has performed extremely well since its creation in 2017. However, the coin hasn’t seen much momentum due to delays and development issues until the 2021 bull run began.

Current price prediction news

Here are some price prediction news blogs if you’re interested in how Cardano may perform in the future.

Other Ways to Make Money With ADA in 2023

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

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 staking and liquidity pools.

Buy Cardano Using ETPs (ETFs & ETNs)

Unfortunately, there are not many platforms that offer Cardano 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 Cardano. The only recent news is that FD7 Ventures have bought £330 million worth of ADA, but they do not have tradable stocks.

Cardano mining

Cardano cannot be mined because it uses a POS system.

Use ADA 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.

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.

What Cryptocurrencies Are Similar to Cardano?

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

CoinSymbolLearn how to buy
EthereumETHBuy Ethereum
TronTRXBuy Tron
AlgorandALGOBuy Algorand
CosmosATOMBuy Cosmos
TezosXTZBuy Tezos

Is It Still Worth Investing in Cardano or Not?

ADA is worth buying if you want to hold it 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.

This information is provided for educational purposes only and is not investment advice. We do not offer financial advice, advisory or brokerage services. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions.

FAQs

What is the best provider to buy Cardano in the UK?
What is the cheapest provider to buy Cardano in the UK?
Is it worth investing in Cardano right now?
Is there a limit to how many Cardano coins I can buy?
Can you buy Cardano on the blockchain?
What can you buy with Cardano?

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David Hany