How to buy Cardano (ADA) - Tutorial
For many, Cardano is the most technically advanced block chain platform in the world. That’s why the makers themselves call Cardano “Blockchain 3.0” (Ethereum is supposed to be Blockchain 2.0). Here we explain everything important about Cardano and the crypto currency ADA. Furthermore you will learn where you can buy Cardano (ADA) and what differences there are between the stock exchanges.
Cardano was founded by Charles Hoskinson, who was already one of the co-founders of Ethereum. The project was financed by an ICO, in which many Japanese people invested. Therefore Cardano is sometimes called Ethereum of Japan. Basically, Cardano itself has the claim to be a technological leader. The Cardano Foundation therefore cooperates with a large number of universities and scientists, who help to develop Cardano technologies.
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Unlike Bitcoin (proof of work), Cardano does not rely on energy-intensive mining. Instead, Cardano uses the Proof-of-Stake algorithm to which Ethereum also wants to switch. In principle, anyone can confirm transactions if they have deposited (staked) enough ADA, as the crypto currency at Cardano is called.
Another important differentiating feature to Bitcoin is the fact that Cardano not only has the crypto currency ADA, but can also execute Smart Contracts. The platform pays particular attention to being highly scalable and is developing ever better solutions for this.
In terms of the maximum number of ADAs, there will never be more than 45 billion ADAs. Inflation is therefore capped at the top.
How to Buy Cardano – Summary
- 2. Verify Yourself on the Platform
- 3. Deposit (at least $200) e.g. via PayPal, Credit Card or Wire Transfer
- 4. Now you can buy Cardano (ADA) directly
Cardano (ADA) Buy Guide
Where can I buy Cardano?
Who would like to buy Cardano (ADA) must announce itself with crypto stock exchanges (also Exchanges called). You should pay attention however to the fact that with the crypto stock exchange also ADA is traded against euro. Not every exchange allows you to buy ADA for Euro. With the largest crypto stock exchange of the world for instance, Binance, all crypto currencies are traded only against other crypto currencies.
Beside the possibility of the deposit of euro, you should pay attention also to it like you the euro to deposit can. Some crypto exchanges only give you the possibility to transfer Euro credits to the exchange. Since transfers are however very slow, it can partly take a few days until the assets arrive. Faster is it if you can pay in the credits by credit card or PayPal at the respective crypto exchange. eToro for example gives you this possibility.
How to Buy Cardano (ADA)
The easiest way to buy ADA is to go to eToro. There you can choose between different payment methods (PayPal, credit card and instant bank transfer) as well as an easy to use platform with German support. At eToro you buy real crypto currencies which you can also withdraw with the eToro wallet.
- Regulated Platform
- Good Support
- Large selection of crypto currencies
- Payment also via Paypal and credit card
- eToro app for smartphone and tablet
- New eToro wallet app available
- Cryptocurrencies remain a risky investment
eToro offers one of the easiest ways to enter the Cardano trade with its user-friendly design. It’s a platform with special value for all traders who want to buy or sell ADA.
Buy cryptocurrencies with eToro in 3 easy steps
Step 1: Registration
To trade on eToro you first need to log in to the platform. But this can be done without any problems. All you have to do is enter your name, email address and a password. After that you will get access to the eToro dashboard.
As eToro crypto currencies are traded against Euro you also need to verify your identity on the platform.
Step 2: The verification
After opening an account you will also need to verify your identity with eToro. You will need to leave your personal information and upload a photo of your ID or passport. This process is required by European law for all platforms trading crypto currencies against Euro.
If you have provided all the information, the verification can still take a few days. It is advisable to make the deposit during this time, as you will be preferred during the verification process. But don’t worry, if something goes wrong during verification, you will get your money back. We have never experienced this kind of problem before.
As soon as the verification is complete you will be notified by email. If you have already made the deposit at this point, you can start trading immediately.
Step 3: Buy & Sell
Buying and selling Cardano at eToro is then quite easy. All you have to do is select ADA and click on “Trade”.
A window will appear where you can buy ADA. All you have to do is indicate how much Euro or US Dollar you want to invest in ADA. You also have the possibility to set a stop loss, trade with a lever or enter a profit target.
With a Stop Loss you can determine at what loss your ADA should be sold automatically, thus reducing further losses if the price falls sharply. We do not recommend trading with leverage because it is very risky. Therefore, the lever should always be X1, then you buy real ADA. You don’t need to specify the profit target either, because you can always close the trade manually if you have made enough profit.
When you have entered everything you only have to click on “Buy”. The trade will be executed immediately and you will see your newly acquired ADA in your portfolio.
Withdraw cryptocurrencies with the eToro Wallet
In 2018 eToro introduced the so-called eToro Wallet. This is available for both Android and iOS. Now you can also use it to withdraw your crypto credits from eToro. All you have to do is install the wallet on your smartphone. You can then login to the wallet with your normal eToro login. The wallet allows you to receive and send crypto currencies.
What Payment Methods are Available to Purchase Cardano?
Buying Cardano - The Most Important Payment Methods
Buy Cardano with Credit Card
Credit cards are convenient and payment is available immediately!
Many people like to buy crypto currencies by credit card. This is usually because credit card payments are immediately available and buyers do not have to wait for the deposit to arrive.
Unfortunately, not all exchanges support credit card purchases or charge very high fees for them. This is different with eToro. You can simply top up your credit card balance and start trading immediately. So you can also buy ADA there immediately with your credit card.
Buy ADA with Paypal
Paypal has the advantage that you will be credited immediately and you have the buyer protection.
Only very few crypto exchanges allow you to buy crypto currencies via PayPal. You profit with PayPal particularly by the buyer protection. One exchange which I allow you to buy via PayPal is eToro.
You can simply fund your eToro account via PayPal and then you can start trading and buy Cardano. This makes eToro the big exception compared to other crypto exchanges.
Buy Cardano (ADA) via Wire Transfer
Another way to deposit money into your account in order to buy cryptocurrencies is via wire transfer. You don’t pay any fees in order to deposit money. However the disadvantage is that it can take up to 2 business days until your money is finally in your account. If you want to avoid that you can use Rapid Transfer for instant wire transfers. If you are using eToro you can choose if you want to do a regular wire transfer or a Rapid Transfer.
Should I buy Cardano now?
When the right time to buy Cardano no one can really predict. The fact is, however, that ADA has a great roadmap ahead of it and the development so far has been very promising.
In general, we are still at the very beginning with crypto currencies and many fields of application are still being developed. Technologically, Cardano is well ahead in this area. There is probably no other crypto currency that has a higher technological standard than Cardano.
Pro und Contra Cardano Investment
- ADA is still at the beginning of its development
- No energy-intensive mining thanks to proof-of-stake
- Technologically leading
- Excellent developer community
- Investments in crypto currencies are highly speculative
Is the technology the purchase argument for Cardano
Currently Cardano looks more like a playground of scientists who want to do everything better than it was before. That’s why Cardano calls itself Blockchain 3.0, because Cardano wants to solve the scaling problems that other blockchains have and wants to be more flexible than competitors like Ethereum. Nobody can yet say for sure whether this will succeed. Many of the technologies required for this are currently under development and it is not yet clear whether everything will work as it should.
But it is clear that Cardano has a very high technical standard and therefore attracts excellent developers. In order to prove itself, it will be important for Cardano to implement all planned steps of the roadmap on time.
Invest in Cardano (ADA) or not?
Nobody can tell you for sure if an investment in Cardano is worthwhile. All crypto investments have an increased risk because the crypto market is still in its infancy. But so far Cardano has kept most of its promises. If the current development continues like this, there is a good chance that Cardano will be successful in the long run.
Store Cardano (ADA) in its own wallet
If you buy Cardano (ADA) you can either leave it at the stock exchange (eToro, Binance etc.) or you store it on your own wallet (depending on where you bought it). Basically there are 3 types of wallets that you can use to store ADA. These are Hardware Wallets, Paper Wallets and Software Wallets.
With the so-called Paper Wallets you simply write your private key on a piece of paper. With this private key you have access to your credits. If you lose the sheet of paper or it is stolen, your credit will be gone. For normal investors Paper Wallets are not really practical.
Much better are the Software Wallets. You install it on your desktop computer or smartphone and can manage your assets. With a so-called recovery phrase (usually consisting of 24 words) you can restore your credit if you lose the device. If you want to use a software wallet, we recommend the official Cardano Wallet Daedalus.
The safest place to keep your ADA is a Hardware Wallet. The market leader for hardware wallets is the French company Ledger. We recommend you to use either the Ledger Nano S or the Ledger Nano X. Your private keys will always remain on the wallet and cannot be stolen. Even if you lose the hardware wallet, you can still recover the credit via the recovery phrase. The ledger also supports the storage of Cardano
Conclusion
Cardano has very high expectations of the technologies that will be used and what the platform will be able to do in the future. Whether all this can be implemented in this way is not yet certain. However, if it does work out, Cardano’s value development is expected to be disproportionately high.
If you want to buy Cardano (ADA) for Euro you will find the easiest way at eToro. You can only leave ADA there in your account. The ADA withdrawal is currently being implemented and will go live soon. At eToro you’ll also find a German support team who are available to help you with any problems.
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Cardano (ADA) Price and Price Development
Here you can find the current ADA price and see how the price has developed.
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