How to buy ADA (Cardano) in 2021?

This article shall throw light upon how you can buy Ada (Cardano). We will discuss various cryptocurrency exchanges and swapping platforms that provide Ada buying and trading services. Furthermore, we shall also give detailed steps on how to purchase Ada on mobile and laptop. 

Summary (TL;DR)

  • ADA (Cardano) was founded by Charles Hoskinson, a co-founder of Ethereum. 
  • Furthermore, Cardano is the first blockchain platform to be built using peer-reviewed research.
  • Various exchanges  facilitate an easy buying, selling, and trading of ADA (Cardano). 
  • Exchange platforms such as Binance, Coinbase, Huobi, etc. are some best platforms that enable the smooth purchase of ADA.
  • It is quite easy to buy ADA because almost all the platforms facilitate this service through mobile devices. 
  • You can use any one of the hardware wallets to store ADA if you’re planning to HODL it.

What is ADA (Cardano)? 

Ethereum co-founder Charles Hoskinson founded Cardano in 2015. Cardano uses proof of stake consensus protocol, known as Ouroboros and is the first blockchain platform to be built on peer-reviewed research. Aiming to be a decentralized application (DApp), Cardano, also facilitates verifiable smart contracts and multi-asset ledgers.  

ADA is the native token of Cardano and one of the fastest-growing digital assets in the world. Since its introduction in the year 2015, ADA has been consistently ranked as one of the top 10 cryptocurrencies as per market capitalization. It has a rapidly evolving community and might as well take over Ethereum in building a large blockchain ecosystem.

ADA
ADA

Also, read Staking Crypto – An Ultimate Guide on Crypto Staking.

What is ADA (Cardano) used for?

ADA, named after Ada Lovelace who was also recognized as the first computer programmer, can be used for various purposes. Firstly, it can be used to store value. Secondly, it facilitates sending and receiving funds. And thirdly, peers can use it for transactions among themselves. Furthermore, you can buy or sell ADA for fiat currencies as well as other crypto-assets.

Where to buy Cardano (ADA)?

One of the ways of acquiring ADA is by swapping them with previously owned crypto assets or stable coins. The best platforms that allow you to swap other digital currencies for ADA are:-

Another method of buying, selling, or trading ADA Cardano is through crypto exchange platforms. Read further to learn more about the best exchange platforms to buy ADA Cardano.

SwapSpace
SwapSpace

Best crypto exchanges to buy Cardano

  • Binance: The platform facilitates easy and safe purchases, trades, and transactions with ADA Cardano. To learn more, read our Binance review.
  • Coinbase: The exchange has recently included ADA in the list of cryptocurrencies that it supports. To learn more, read our Coinbase review.
  • Huobi: Huobi facilitates buying, selling, and trading with ADA Cardano using credit, debit cards, and bank transfers. To learn more, read our Huobi review.
  • Bittrex: The enhanced security and one of the lowest fees promotes Bittrex users to buy ADA. To learn more, read our guide on Bittrex Fees
  • Bitmex: The platform is considered one of the best to proceed with leverage trading; hence, you can easily buy/ sell/ trade ADA. To learn more, read our Bitmex review.

How to buy ADA Cardano?

As ADA is gaining immense popularity, therefore, more and more investors are planning to purchase it. ADA (Cardano) can be easily purchased over mobile devices, both on Android and iOS systems as well as on laptops and PC. You can buy ADA Cardano with USD, INR, and various other fiat currencies. Moreover, you can also trade ADA for other digital cryptocurrencies.

How to buy ADA on Binance?

  • Firstly, sign up or log into your Binance account using your phone number or email address. 
  • Verify your account using the verification code sent on your email id.
  • The top left corner of the official website has a ‘Buy Crypto’ option. Select it. 
Binance
Binance

Buy ADA using credit card

  • After selecting the Buy crypto option, click on the debit and credit card option from the drop-down menu. 
  • Click on the Buy BTC option and select the ADA Cardano option. 
  • Enter the amount for which you would want to buy ADA.
  • Click on the Buy ADA option.

P2P Service

Binance also facilitates direct trading with other users in your local currency. Click on the P2P trading option from the ‘Buy crypto’ drop-down menu. Various trading offers from different sellers would be available to you here.

Third-party payment

Many fiat currencies like INR may not support direct buying methods. However, in such cases, one can opt for a third-party payment method. Binance collaborates with Simplex, Paxos, etc. to let users buy ADA all over the world.

Where can you buy ADA (Cardano) in India?

Buying ADA (Cardano) in India is now easier than before as many exchange platforms both Indian and International have started catering to the needs of Indian cryptocurrency traders.

  • WazirX: The platform provides flexibility in its services and one can avail of it on Windows and Mac devices, mobile apps as well. To learn more, read our WazirX review.
  • Bitbns: It is another reliable exchange platform that allows ADA trading in India. However, it has very high trading fees. To learn more, read our Bitbns review.
  • CoinDCX: You can conveniently deposit funds using multiple payment options like UPI, net banking, etc. and buy ADA. To learn more, read our CoinDCX review

How to buy ADA on WazirX?

WazirX
WazirX

How to use WazirX?

  1. Select the ‘sign-up option on the official website of WazirX.
  2. Fill in your details such as email, password, and referral code (if required), and then select the ‘ Submit ‘ option.
  3. Verify your account and then login.
  4. Complete the KYC verification process by providing the details required and uploading your selfie. 
  5. Select the INR option from the account section. 
  6. Select the Deposit INR option and also select the mode of the deposit that you would prefer.
  7. The funds would be available in your WazirX account within some time. 

Steps to buy ADA on WazirX

  1. After successfully logging into your WazirX account click on the ‘Exchange’ tab. 
  2. Search ADA (Cardano) in its INR section.
  3. In the trading window, select the ‘Buy’ option.
  4. Select the order type to Market or you can also set a limit price.
  5. Enter the amount of ADA you wish to buy and hit the buy button.
  6. Your order shall be successfully executed within a couple of minutes.
Buy ADA on WazirX
Buy ADA on WazirX

Cardano price prediction

The entire dynamics of the cryptocurrency market are unpredictable and no one can conclusively forecast what would follow in the future. Therefore, you should do thorough research and move ahead with a well-informed decision. However, if you would like to get a rough idea about the same you can read up on Understanding Bitcoin metrics to predict price movements.

Invesnting in ADA: Pros and Cons

Pros

  • It is a third-generation blockchain platform.
  • Cardano uses proof of stake protocol
  • It has seen recent rallies in its price.

Cons

  • Synchronization between its ledgers is unrealistic for global blockchain. 
  • Cardano is still in its development stage.
  • Issues with incomplete smart contract.
  • A market supply of 45 billion tokens.

Buying ADA: Conclusion

ADA is one of the most popular cryptocurrencies currently and it has seen massive progress in recent times. However, any investment in cryptocurrencies including ADA (Cardano) can be risky or dicey, and hence it should be done after due research, with utmost care and precautions. You can buy ADA using any of the Swap platforms or various exchanges such as Binance, Coinbase, etc. Having said that, if you are looking to invest in ADA, above are all the steps to proceed with it.

Frequently Asked Questions

Can I buy Cardano on Gemini? 

Gemini only supports the under 20 cryptocurrencies such as Ethereum, Bitcoin, Zcash(ZEC), Litecoin (LTC), Orchid (OXT). However, it does not support ADA Cardano. 

How to buy Cardano on Robinhood? 

Robinhood has not yet introduced Cardano as one of its supported currencies for buying, selling, or trading purposes. Hence buying Cardano on Robinhood is not possible. 

How to buy ADA on Bittrex? 

Create, sign up or sign in on Bittrex. Verify your account after completing the profile. Provide the required personal details. Fund your Bittrex account and start trading. 

How to store Cardano ADA?

There are a lot of wallets that facilitate storing ADA crypto. Cardano web wallet is one of the most reliable Cardano wallets. Software wallets like Coinbase wallet and Hardware wallets like Ledger Nano S and X or Prokey can also be used to store ADA assets.

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