Where to Buy Cardano – Beginner’s Guide

Cardano is a top-rated blockchain protocol that promotes smart contracts and fast transactions. The project is also home to a popular cryptocurrency token – ADA.

If you want to know how to buy ADA in the USA with low fees at a regulated broker – this guide is for you.

We’ll also discuss the ins and outs of Cardano from an investment perspective, so you can determine whether or not this digital asset is right for you.

But, if you do require a more detailed explanation of how the Cardano investment process works, read on.

Where to Buy Cardano 

To find the best place to buy Cardano, you’ll need to research a selection of online exchanges that are suitable for your skillset. Be sure to consider fees and commissions too, alongside the regulatory standing of your chosen provider.

Consider the pre-vetted platforms reviewed below when choosing where to buy ADA or any other popular cryptocurrency asset.

1. Crypto.com – User-Friendly App to Buy Cardano

Crypto.com is another online broker that is suitable for beginners wishing to buy Cardano in a simple and burden-free way. Fees at this brokerage are very competitive, as Crypto.com charges just 0.4% in trading commissions.

And, if you trade larger amounts or decide to stake CRO tokens, the platform will offer you even lower fees. If you want to buy Cardano with a debit or credit card, Crypto.com charges a fee of 2.99%.

Once you have purchased Cardano, you might then consider diversifying across other digital tokens. At Crypto.com, take your pick from over 250 different digital currencies of all shapes and sizes. In particular, this exchange really stands out for its crypto savings accounts.

As the name implies, when you deposit your digital tokens into your Crypto.com account, you will earn interest. The annual percentage rates (APRs) will differ based on the cryptocurrency you choose to deposit and if you are willing to lock your tokens. You can also earn higher returns by staking CRO tokens.

If you wish to increase your exposure to the digital currency industry, you can also consider taking out a digital asset loan. LTVs at Crypto.com can be maximized at 50%, which is essentially leverage of 1.5x. Crypto.com can also be used to buy and sell NFTs. There are thousands of NFTs listed on the Crypto.com website, and buyers are not charged any fees.

Cryptoassets are a highly volatile unregulated investment product. 

2. Coinbase – Simple and Fast Exchange to Buy Cardano With a Debit or Credit Card

Next, we have Coinbase, one of the leading crypto exchanges with millions of customers on its book. If you’re looking for a simple and fast way to buy Cardano, Coinbase accounts can be opened in a matter of minutes.

And, once you have uploaded your government-issued ID via the KYC process, you can instantly invest in crypto with a debit or credit card. For Cardano investments above $200, you will pay a debit/credit card fee of 3.99%. Anything below this and a flat fee kicks in, depending on the investment size.

If you wish to pay lower fees, you will need to deposit funds via a domestic bank wire or ACH. However, take note, you will need to wait for 1-3 working days for the funds to arrive and a standard commission of 1.49% will apply once you buy Cardano. Taking this into account, Coinbase offers a convenient way to invest in crypto, but the platform is expensive.  

What we also like about this US-based exchange is that the platform offers a super user-friendly mobile app for both iOS and Android. This will connect to your main Coinbase account, so you can trade Cardano no matter where you are. Furthermore, both the Coinbase website and mobile app double up as a crypto wallet.

In terms of safety, Coinbase is regulated in the US to offer crypto brokerage services. Moreover, the platform has since become a public company, with Coinbase stocks trading on the NASDAQ. Coinbase also implements cold storage systems on 98% of client digital funds.

In addition to Cardano, Coinbase also allows you to buy and sell 100+ other cryptocurrencies. This includes the likes of Stellar, Dogecoin, and Ethereum, as well as Bitcoin, Shiba Inu, and Decentraland. Finally, if you’re an experienced investor, you might also consider Coinbase Pro – which offers advanced trading tools and charting indicators.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Binance – Popular Crypto Exchange to Trade and Buy Cardano 

Binance is a large cryptocurrency exchange with a reported 100+ million clients. The platform is particularly popular with crypto day trading professions, not least because Binance offers access to over 60+ markets, alongside industry-leading fees. 

For instance, if you were to trade Cardano against another digital currency – such as Bitcoin, BNB, or Tether, you will pay a commission of just 0.10% per slide. This means that for every $500 you trade, you will only be charged $0.50. 

Moreover, Binance operates a variable pricing structure that rewards higher trading volumes. You can also reduce your trading fees by a further 25% by holding BNB tokens. We also like the fact that US clients can deposit funds for free via a domestic bank wire or ACH.

If, however, you wish to buy Cardano with a debit or credit card, Binance charges a whopping 4.5% plus a 0.5% commission. As such, if you wish to invest in the fastest way possible, then you will need to pay a premium. In terms of storage, you can keep your Cardano tokens in your Binance web wallet for added convenience. 

In doing so, you will benefit from a range of security protocols, such as cold storage and two-factor authentication. The latter includes email and mobile confirmation on each log-in and withdrawal request. You can also withdraw your Cardano tokens to Trust Wallet, which is a non-custodial wallet backed by Binance.

In addition to trading and exchange services, Binance also offers crypto interest accounts. This allows you to generate a yield of your crypto investments and the specific APY will depend on the token. We also like Binance for its iOS and Android app, which connects to your main account.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

What is Cardano?

Cardano is a blockchain technology protocol that was created in 2015 by Charles Hoskinson – who is also the co-founder of Ethereum. Unlike Ethereum, Cardano utilizes the proof-of-stake consensus mechanism, which promotes faster and more scalable transactions than its proof-of-work counterpart.

For instance, Ethereum is able to handle around 16 transactions per second, while, in the case of Cardano, this could reach up to 2 million. However, we say could, as the team of developers at Cardano is still working on the underlying technology. Like all blockchain networks, Cardano has its own native digital currency – ADA.

As such, when you invest in Cardano, you will be doing so by purchasing ADA tokens from an online exchange or broker. According to various reports, Cardano transaction fees amount to 0.16 ADA. As of writing, this amounts to less than $0.15 oper transfer – which is the case irrespective of the size of the transaction.

Another thing to note about Cardano is that the blockchain protocol supports the execution and deployment of smart contract technology. In a similar nature to Ethereum and Solana, this allows people to enter into agreements without needing to trust each other, and the smart contract is transparent and deployed solely on pre-defined code.

Is Cardano a Good Investment?

Cardano is just one of over 18,000+ cryptocurrencies that you can trade online. And as such, it’s a good idea to ensure you are well versed on what ADA tokens can offer for your short or long-term investment objectives.

In this section, we’ll explore whether or not Cardano is a good investment for 2022.

Is Cardano a Good Investment?

According to CoinMarketCap, Cardano launched its ADA onto public crypto exchanges in late 2017 at an initial price of $0.026. This means that at this entry point, a $1,000 investment would have got you over 38,000 ADA tokens.

• Just under four years later in September 2021, Cardano hit an all-time high of $3.10.
• This represents growth of nearly 12,000%. As such, had you invested $1,000 into Cardano back in 2017, at this pricing level your capital would have been worth nearly $120,000.

So how does this compare to other digital currencies? Well, over the same Bitcoin went from a price of $4,300 to $68,000 – so that’s an upside of 1,400%.

Ethereum managed gains of approximately 1,200% over the same period. As such, based on the aforementioned figures, Cardano has performed better than the industry’s two dominant projects.

Cardano Could be Heavily Undervalued at Below $1

We mentioned above that in late 2021, Cardano hit an all-time high of $3.10. However, as of writing in early 2022, the digital currency has since dropped below the $1 level.

This represents a decline of at least 67%. With that said, this decline in valuation isn’t exclusive to just Cardano. On the contrary, the entire cryptocurrency market has been stuck in a bearish cycle since the end of 2021.

And as such, if you’re here reading this guide and Cardano is still priced at less than $1 per token, this arguably represents a huge discount.

Proof-of-Stake Consensus Mechanism

Another benefit of investing in Cardano is that the underlying technology utilizes a proof-of-stake consensus model.

This means that just like Bitcoin and Ethereum, the Cardano network is able to validate transactions without requiring a third-party intermediary.

However, unlike Bitcoin and Ethereum – which utilize proof-of-work, the Cardano network is a lot more efficient. This means that it doesn’t need to consume vast amounts of energy to function.

And, as mentioned earlier. Cardano’s proof-of-stake framework is faster, more scalable, and cheaper than its proof-of-work counterparts.

Low Token Price

Many investors also like Cardano for its low token cost price. After all, the most that this popular digital currency has ever been worth is just $3.10 per token. And, at this pricing level, an investment of $1,000 would get you approximately 322 ADA.

In comparison, the all-time high of Bitcoin and Ethereum stands at approximately $68,000 and $5,000 respectively. And as such, by interesting $1,000 into these projects, you would only be able to buy a small fraction of one token.

Partnerships With Academia  

Cardano is well known for its application for academic research. And as such, when the project is in the process of considering new updates or changes, Cardano often relies on peer-reviewed academic papers.

This in itself offers Cardano a seal of approval, as network developments are essentially signed off by industry experts.

Cardano Price?

The price of Cardano is dependent on buying and selling pressure in the open marketplace. As such, its value is derived much the same as any other asset.

However, we should note that like most altcoins, there is a strong correlation between the price of Cardano with that of Bitcoin. This means that when Bitcoin performs well, this often has a positive knock-on effect for Cardano.

In terms of how to track the price of Cardano, CoinMarketCap offers real-time data from hundreds of exchanges and brokers.

Cardano Price Prediction

If you’re looking for Cardano price predictions with the view of determining the future value of ADA, perhaps a good target point is the previous $3.10 that it hit in late 2021. And, if you are able to buy Cardano at sub-$1, this offers an upside potential of at least 200%.

However, there is no knowing which way the price of Cardano will go, especially when you consider how much competition it has in the broader blockchain and smart contract spaces. For instance, the likes of Solana is arguably a more efficient blockchain – especially when it comes to fees and scalability.

Read our more detailed comparison of different Cardano price predictions here.

Ways of Buying Cardano

There are many ways that you can buy Cardano online in terms of supported payment methods.

Consider the options outlined below when thinking about the best way to buy Cardano from the comfort of your home.

Buy Cardano With Credit Card or Debit Card

The easiest way to buy Cardano is with a credit/debit card. This will allow you to invest in ADA tokens instantly – once you have opened an account with a suitable exchange and verified your identity.

However, be sure to check what debit/credit card fees apply at your chosen platform, as the industry average is 3-5%. For instance, Coinbase charges 3.99% when you buy Cardano with a credit/debit card.

Best Cardano Wallet

Cardano tokens need to be stored in a cryptocurrency wallet that supports ADA. There are many types of Cardano wallets on the market – all of which offer varying levels of security and convenience.

The first thing to consider is whether you wish to use a hot or cold wallet. The latter refers to hardware wallets that are kept offline at all times, so security is extremely good.

But, cold wallets can make the process of sending and receiving ADA tokens cumbersome, as you need access to the respective device.

This is why hot wallets are a lot more suitable when storing Cardano tokens.

Conclusion 

In summary, you can buy Cardano from the comfort of your home. There are a range of regulated platforms you can use to buy, store, and sell the token depending on your needs.

FAQs on Buying Cardano