How to buy Cardano (ADA) – Beginner’s step by step guide
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There have been some really strong interest in Cardano across the crypto space. But overall this project and cryptocurrency ADA hasn’t really taken off in a huge way, yet. Not like compared with Ethereum (ETH) or Ripple (XRP) during the last bull run.
Many people are expecting that Cardano could see a similar rise during the next bull run. If that will be the case then right now is surely a good time to get in on it.
So in this guide, we will help you learn more about what are some of your current options to buy Cardano. This will be a perfect guide for beginners that are currently looking into investing in ADA and want to know what are the best options to buy Cardano!
Did you know that the founder of Cardano, Charles Hoskinson was also one of the co-founders of Ethereum? And he’s been a long time presence in the cryptocurrency and blockchain space.
Cardano came together with a few other blockchain projects after Ethereum, often dubbed as blockchain 3.0.
There is no real difference between Ethereum as a 2.0 blockchain and Cardano as a 3.0. They are trying to solve similar stuff and provide blockchain opportunities with smart contracts technology and dApps as their main USPs.
Summary of the steps on how to buy Cardano:
- First, find a good Cardano wallet
- Then find a crypto exchange to buy Cardano at
That is it. And then you wait for the next bull run and hopefully, you can then see a nice return of investment from your Cardano cryptos (ADAs).
How to buy Cardano step by step guide
Ok, now it is time for us to take you through all the steps you need to take in order to buy Cardano and then safely store your ADAs in a good Cardano wallet.
This guide will be perfect for beginners to more experienced cryptocurrency investors.
Cardano (ADA) is currently ranked in the 11th spot ranking by all cryptocurrencies when going by market cap (Coinmarketcap). Firm believers of Cardano think it is just a matter of time before it gets into the top 10 positions.
Part 1 – Find a good Cardano wallet
It is very important that you find a good and secure wallet to use as your main Cardano wallet.
With cryptocurrencies, they are all stored on the blockchain, and we use a cryptocurrency wallet to interact with our coins and tokens.
And there are different types of wallets, from mobile wallets to desktop and hardware wallets. What is most important is that you find a wallet where you own your private keys. And that they are not stored somewhere else.
So in this part, we will mention a few good Cardano wallets for you to pick from. There are of course more options out there but these are recommended by us.
1 ) Daedalus (desktop wallet)
This is the officially supported Cardano wallet. So it many ways it is the home of ADA.
With the Daedalus wallet, you can use it for sending and receiving ADA but also earn ADA from staking it.
The Daedalus wallet is available for desktop – Windows, macOS, and Linux.
- You can download the Daedalus wallet here
2 ) Ledger Nano X (hardware wallet)
This is the latest hardware wallet from the Ledger team and a very good option for storing ADA offline using one of the most secure types of cryptocurrency wallets.
With Ledger Nano X, you have Bluetooth and added storage space, compared to Ledger Nano S. So you can use your Ledger Nano X with your mobile device.
- Learn more about using Ledger with ADA here
- Download Ledger Live application here
- You can buy a Ledger Nano X here
3 ) Ledger Nano S (hardware wallet)
The Ledger Nano S is the first hardware wallet from the Ledger team. And it is a bit cheaper than the latest Ledger Nano X. But it still does a good job of securing your cryptos safely stored on the blockchain in an offline wallet.
It has slightly less storage space so fewer applications can be installed and then no Bluetooth so you need to use a USB to connect it to your computer.
- Learn more about using Ledger with ADA here
- Download Ledger Live application here
- You can buy a Ledger Nano X here
3 ) Trezor Model T (hardware wallet)
This is the latest hardware wallet from SatoshiLabs. And another very good option to choose when selecting a reliable crypto wallet for storing your ADAs safely on the Cardano blockchain.
The Trezor Model T comes with all the security features necessary and it is one of the most popular hardware wallets amongst crypto holders and traders.
4 ) Yoroi (mobile wallet & web wallet)
This is a mobile and web wallet developed specifically for Cardano’s cryptocurrency ADA. It is available for both Android and iOS mobile devices. But also as an extension for Chrome and Firefox.
This is a light-weight wallet, this means it doesn’t download a full version of the blockchain.
But it connects to a few trusted servers that have full blockchain access. So using Yoroi you put your trust in those servers.
A wallet like Yoroi will be useful and recommended for most ADA holders that only plan on holding their cryptos. Or need to have quick access to them with their mobile phones.
- Download the Yoroi wallet here
Part 2 – How & where to buy Cardano
If you are wondering where can I buy Cardano, then this part will cover everything you need to know to buy it!
We want to make this guide as complete as possible so we will include as many payment options as possible so that you can buy Cardano using the payment method that suits you the most.
In this section we will answer the most common questions about how to buy using a range of popular options:
- Buy ADA using a credit card or debit card
- Buy ADA using a bank transfer
- Buy ADA another cryptocurrency (BTC or ETH)
- Buy ADA using cash
- Buy ADA using PayPal
- Buy ADA with USD, EUR, GBP, CHF
Buy Cardano (ADA) with a credit card or debit card
If you want to buy ADA cryptocurrency using a credit card or debit card then we could recommend some crypto broker sites.
Buy Cardano with a credit card/debit card at Changelly
Changelly is an online broker site that lets you both swap one crypto for another but also buys cryptos with a card. That means you can buy most of the popular cryptocurrencies right now using your credit card or debit card.
In fact, as long as it is a VISA or Mastercard they accept most types of cards.
Follow these steps to buy it at Changelly:
- To buy at Changelly you need to visit Changelly’s website and then click on Buy crypto
- Then enter the amount in Fiat currency you want to buy ADA with USD, EUR, GBP
- And then proceed through the following steps – complete a KYC and enter your card details
- IMPORTANT! You need to have a Cardano wallet first before you purchase it at Changelly
That is it! That’s how you buy with a card at Changelly!
Buy ADA with a credit card/debit card at Coinmama
Another site similar to Changelly that currently accepts card is Coinmama.
And the process of buying ADA with a credit card or debit card at Coinmama is very similar. You need to create an account with Coinmama first and complete the KYC and identification process.
To buy ADA with your card at Coinmama follow these steps:
- Head on over to Coinmama’s website and then select ADA and the amount in Fiat you want to buy for and click buy now
- Create an account with Coinmama – provide them with your identification details
- Then complete the purchase of ADA with your card
- IMPORTANT! You need to have a Cardano wallet first before you buy at Coinmama
At both Changelly and Coinmama you can buy ADA with USD, EUR, GBP or other Fiat currencies.
Buy ADA with a bank transfer (wire transfer)
Another way that you could buy it is via a bank transfer (wire transfer).
By depositing funds from your bank and then buying Cardano you often could save on fees compared to buying ADA with a card. But it might take a bit longer compared to buying with your card.
These are some of the options you have for buying Cardano with a bank transfer:
- Bitpanda (SEPA bank transfer – buy with EUR, GBP, CHF, etc))
- Bitit (Buy ADA with USD, available for U.S citizens and many more)
- Litebit (SEPA bank transfer)
- Kraken (Buy ADA with USD or EUR)
- Coinbase (buy ETH/BTC first and then buy it at another exchange – get $10 BTC for free when buying at least $100)
When you deposit funds from your bank to Kraken you will then be able to purchase ADA at Kraken Pro. Follow these links to buy at Kraken Pro:
The steps on how to buy ADA with a bank transfer (wire transfer) at any of those above-listed sites will be very similar.
- First, you register an account and complete any KYC
- Then you initiate a purchase of ADA at those sites – you will then get a reference number to use for your bank transfer
- Make the bank transfer – use the reference number/code
- Wait until the money appears in your account and then buy!
That is more or less how it will work for all sites. The process might contain some other steps but that’s the overall process of buying ADA with a bank transfer!
Buy ADA with cryptos at a cryptocurrency exchange
One of the most popular and common ways that people today buy ADA from is by using a cryptocurrency exchange and buy ADA with another crypto.
It is common that people first buy Bitcoin, Ether or perhaps Litecoin. And then after they go to a crypto exchange that trades Cardano (ADA) and buys it there.
In both cryptocurrency trading and Fiat currency trading (Forex) you trade one currency pair for another. So with ADA cryptocurrency trading, it could be these trading pairs:
- ADA/BTC – ADA and Bitcoin trading pairs
- ADA/ETH – ADA and Ethereum/Ether trading pairs
- ADA/LTC – ADA and Litecoin trading pairs
That means the steps are as follow to buy ADA with another crypto:
- First, buy BTC, ETH, LTC at an exchange
- Then send those BTC, ETH, LTC to another exchange that trades ADA
- Buy with either BTC, ETH, LTC
Here are some popular cryptocurrency exchanges that have ADA trading pairs:
- You can find more exchanges that have ADA trading pairs by checking Go CryptoMarket and ADA
Buy ADA with PayPal
Unfortunately, you can’t purchase Cardano with PayPal directly at too many sites at this time.
But to buy Cardano with PayPal you have these options:
- Buy ADA cryptocurrency with PayPal at eToro
- Buy BTC with PayPal at LocalBitcoins.com and then ADA at a crypto exchange
- Buy ETH with PayPal at LocalEthereum.com and then ADA at a crypto exchange
For eToro you will fund your account with PayPal and then you can buy some. For both LocalBitcoins and LocalEthereum you will need to find a seller of ADA that accepts a PayPal transaction.
So using either of those two sites you can look for sellers that accept this or put up a purchase request where you say that you want to pay with PayPal.
Buy ADA with cash
If you are looking to buy Cardano with cash then, unfortunately, there aren’t any ways for you to buy with cash directly online.
But there are ways to go about it.
And we will list here some of the recommended ways to buy ADA with cash.
- Buy BTC with cash at LocalBitcoins and then buy at a crypto exchange
- Buy ETH with cash at LocalEthereum and then buy at a crypto exchange
- Buy BTC with cash at Wall of Coins and then buy at a crypto exchange
- Buy BTC with cash at Bitquick and then buy at a crypto exchange
- Buy BTC at a Bitcoin ATM and then buy at a crypto exchange
- Learn more about how to buy Bitcoin with cash here
Conclusion – buying ADA
That is the end of this guide to how to buy Cardano’s cryptocurrency ADA.
We have covered a range of payment options and methods in this guide. So that you can more easily pick the one that suits you the most.
I myself have bought ADA and I usually buy cryptos by making a bank transfer first to either Coinbase (get $10 worth of BTC for free when buying for a minimum of $100) or Kraken. And then I send it to another crypto exchange that trades the crypto that I want.
My last tip to you guys is to avoid storing your cryptocurrencies on a crypto exchange. If you are new to the crypto space then you might not be aware of this, but at crypto exchanges, you don’t own your private keys.
That means that your cryptos could be exposed to greater risks, in the case of the exchange getting hacked or going down for whatever reason. So it is recommended to store your ADAs on the blockchain using a wallet where you control your private keys.
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier