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Cardano is an open-source and decentralised cryptocurrency which was created to revolutionize everyday payments. Thanks to its underlying technology, Cardano can be transferred between parties faster, cheaper and more securely than was possible traditionally. Furthermore, the cryptocurrency seeks to provide flexibility and opportunity to the payment platforms of the future, and the legal agreements which regulate them.
You can invest in Cardano on the following CFD trading platforms:
80.5% of retail CFD accounts lose money
Your capital is at risk
With a promise of bringing significant changes to the traditional financial market, Cardano has attracted the interest of numerous players within the crypto community. Apart from the early adopters, the coin has also been taken up by traders and investors looking to profit from its price movements. Whatever your reason for buying Cardano may be, this guide will show you the best ways to do it.
Cardano today is ranked as the 12th most popular cryptocurrency based on its market cap of just over $1 billion. The coin, which is often represented by its three-digit ticker code ADA, is significantly volatile, and available to purchase on a variety of platforms.
The process to buy Cardano online varies depending on the platform which you are choosing, but you would normally follow some or all of these steps:
The highest recorded sale price for Cardano was $1.33, although generally, its sale price varies from one platform to another. Furthermore, the final price you pay can also depend on the payment method you choose. Here are a few of the most common payment methods used to buy Cardano.
Credit and debit cards are widely used payment methods since they facilitate online and in-store payments by providing a fast, secure, and cheap way to transmit funds. Tens of millions of individuals and companies use cards every day, so naturally online trading and exchange platforms also allow you to buy Cardano with credit or debit cards.
Coinmama is one of the oldest cryptocurrency exchanges which is still in operation. The Slovakian exchange is owned by a company which is registered as a Money Service Business (MSB) with FinCEN. It supports payments in either EUR or USD, but if you are buying Cardano with a debit or credit card, it doesn’t really matter since the card’s issuer will automatically convert your base currency into one of these. As with most exchanges, depositing funds by card results in a deposit fee of 5%.
If you are looking to buy Cardano with a debit or credit card for free, consider investing in Cardano Contracts for Difference (CFDs). These advanced financial instruments are available on several platforms which do not charge you any deposit or withdrawal fees. Plus500 is a great example of this, offering free deposits and withdrawals, if you don’t exceed five withdrawals per month.
platforms which allow you to buy Cardano with a credit or debit card include:
You can buy Cardano using a bank transfer across a variety of cryptocurrency exchanges and trading platforms. Bank transfer payments are widely supported, since it doesn’t cost anything to accept them. Furthermore, users benefit from using bank transfers since they can conveniently exchange the currency if required and aren’t normally charged any deposit fees by the platform.
With some minor exceptions, Kraken doesn’t charge any additional fees when you deposit funds with a bank transfer. The US-based cryptocurrency exchange is known for providing a highly secure platform and a variety of cryptocurrencies to trade. Kraken offers a user-friendly interface which is ideal for novice users, but it also offers margin trading opportunities for experienced traders looking to develop their investment strategy.
platforms which allow you to buy Cardano with a bank transfer include:
To find out more about these platforms, be sure to check out their exchange reviews by clicking here.
Buying Cardano anonymously is particularly difficult since no known Cardano ATMs exist in the world. As a result, the only way available to buy the cryptocurrency without divulging your personal details is to locate a seller online and negotiate the purchase without providing more information than you wish to. This method presents some risks, as the same forums and chat rooms where you might find such a seller are often frequented by scam artists posing as honest sellers.
If you would like to buy Cardano anonymously on a secure platform, your best choice is to use Changelly. This cryptocurrency exchange allows you to buy the digital currency securely, whilst only requesting minimal personal information. Furthermore, you do not need to provide any photo identification documents before using your account. While not offering complete anonymity, Changelly is a great platform to use if you would like your identity to remain a secret.
Before you buy Cardano, you need to consider the reasons behind your purchase. If you only intend to buy a small amount of Cardano once, then the platform which you use will not really matter. However, if your goal is to trade Cardano regularly, or to buy a considerable number of coins, then your choice of platform matters a great deal more.
Cryptocurrency exchange platforms and brokerage services are normally the primary way of getting Cardano coins. There are thousands of these platforms available, although not many offer and support Cardano since this cryptocurrency is not as popular as Bitcoin or Ethereum.
Once you have shortlisted potential exchange platforms or brokers, consider their fee structure, especially if you will buy Cardano regularly. Check all the platform’s charges, including, potentially inactivity fees and financing rates. Remember to also have a look at the deposit and withdrawal limits offered by the platforms, to ensure that they fit within your investment strategy.
If you are looking to invest less regularly or are seeking to reduce the cost of buying Cardano, consider looking for independent brokers. These brokers normally advertise their services online, on a variety of forums. Since they have considerably lower operating costs than traditional platforms which invest in security and functionality, independent brokers are often cheaper.
There are limited ways with which you can buy Cardano with cash. In the case of other cryptocurrencies, such as Bitcoin and Litecoin, it is possible to use cash to buy the cryptocurrency through an ATM. In Cardano’s case, the best way for you to use cash is to locate a coin seller in your geographical area and negotiate a sale in cash. If you decide to proceed in this way, ensure that your Cardano coins are deposited in your wallet while you are still with the seller, as you can otherwise become a victim of fraud.
The other option is to purchase Bitcoin via an ATM in cash, then head over to BitPanda, or Changelly if you want to remain anonymous, deposit your BTC there and convert that to Cardano.
So far, this guide has suggested ways for you to buy Cardano with fiat currency, but it is also possible to buy Cardano using another cryptocurrency. Considered to be crypto trading, this practice is supported by most cryptocurrency exchange platforms.
Binance is one of the best-known exchanges which specializes in crypto to crypto transactions. The Malta-based exchange allows its users to trade over 400 different digital currencies, including both well-known and virtually unknown coins.
The exchange offers numerous additional services to its users in order to help those trading Cardano for profit. As a result, you will find advanced charting and analyses tools, detailed historical records, and a variety of other helpful tools.
Generally, trading Cardano with other cryptocurrencies works out much cheaper than using fiat currency to buy Cardano. Understandably, you will need to own one cryptocurrency before you can trade it for another, but it is possible to get free cryptocurrency by participating in airdrops, faucets or bounty programs. Other cryptocurrency exchanges include:
These exchanges allow you to trade Cardano in a seamless manner.
In order to sign up to most cryptocurrency exchanges, you need to be aware that certain geographical restrictions apply depending on the platform. Some of these restrictions stem from the fact that owning or trading cryptocurrency is still considered to be illegal or is highly restricted in certain countries. Others, such as the US, may allow cryptocurrency trading, but ban related instruments, such as CFDs.
If you are a user in the US, you will not be able to open an account with several major platforms. For example, Binance, Plus500, IQ Option, and ChangeNOW are all unavailable to you. Alternatively, you can open an account with eToro (in parts of the US), Coinmama, and Kraken.
Similarly, restrictions also apply to Australian users, with IQ Option being unavailable. If you are based in Australia and would like to buy Cardano, you would need to use the alternatives mentioned in this guide.
Cardano CFDs are a relatively recent development in the world of financial markets. CFDs allow traders to invest in an asset without physically purchasing it. Instead, they buy a contract which states the sale of the asset on a fixed date and at a fixed price. Depending on the asset’s eventual price at the expiration of the contract, the seller might generate a profit or make a loss.
Trading Cardano CFDs is a convenient way to invest in the cryptocurrency. Most platforms which support CFD trading offer traders leverage in order to allow them to open larger positions than their investment capital alone would allow them to. As a result, trading Cardano CFDs is a high-risk investment which should only be undertaken if you fully understand the risks involved and can afford the potential loss of your capital.
trading platforms which offer Cardano CFDs include:
Storing your Cardano securely is a consideration which you need to prepare for, prior to buying the cryptocurrency. Some exchanges do not offer an in-built wallet, so as soon as you buy the currency you would be asked to provide a wallet address in which to deposit your coins.
Generally, the best and safest wallet to store your Cardano in is a cold storage wallet. Since this cryptocurrency is not very popular, it is not supported by many wallets, however, it is supported by the Ledger Nano S and Nano X hardware devices. Since these devices are not constantly linked to an online network, they are considered much safer, since it is impossible to hack them remotely.
If you do not wish to trouble yourself with safely storing your Cardano coins, you might want to consider investing in Cardano CFDs instead. When buying CFDs you are not physically purchasing the underlying coin, so you are never required to provide a wallet for it. This makes trading Cardano CFDs easier and, oftentimes, faster.