If you are interested in the Cardano project, you have come to the right place, join over 4 million ADA holders. Buying Cardano is not complicated , just connect to one of the service providers of your choice, in fact, Cardano is available on most trading platforms. We’ll show you how to get one with our comprehensive guide. Buying Cardano (ADA) is easy!
Contents of the guide “How to buy Cardano (ADA)
- Where to buy Cardano?
- Buy ADA on Binance
- Buy ADA on Coinbase
- Buy ADA on KuCoin
- How to buy ADA?
- Step 1: Download a compatible wallet
- Step 2: Choose a crypto exchange and create an account there
- Account creation on Binance
- Step 3: Buy ADA for fiat currency or crypto-to-crypto exchange
- Buy ADA with Euros on Binance
- Exchange BTC or USDT for ADA on Binance
- Should you buy CARDANO? Forecast, risks and strategies.
- Why invest in Cardano?
- The positives of Cardano
- The negatives of Cardano
- Trader Cardano: what taxation? How to declare?
- CARDANO: what is it?
- Frequently asked questions when buying Cardano (ADA).
- Conclusion: the best way to buy or trade cheap Cardanos.
WHERE TO BUY CARDANO?
Like any other crypto, ADA tokens can be purchased through exchanges , which can be classic or decentralized (DEX). In this regard, there are many choices for this asset of the Top 10 cryptocurrencies in terms of valuation.
The 4 exchanges with the most trading volumes on Cardano, at the time of writing this guide, are in descending order: Binance , Coinbase , Huobi and KuCoin .
|Platform||Minimum deposit||Costs||Method of payment||Buy Cardano on:|
|Binance||15€||1.8%||Card and SEPA Transfer||Buy on Binance|
|Ascendex||30€ by CB45€ by SEPA||+10% decreasing by credit card (Moonpay)|
|Card and SEPA Transfer||Buy Cardano on Ascendex|
|Crypto.com||0.5€||Between 2 and 4%||CB||Buy your cardanos from crypto.com|
|KuCoin||€40 CB1€ SEPA||3.3% BC|
|Card and SEPA transfer||Buy ADA on KuCoin|
|Coinbase||1,99€||3.99% in card with a minimum of 0.99% and free in SEPA||Card and SEPA Transfer||Buy your cardanos on Coinbase|
BUY CARDANO (ADA) ON BINANCE
Founded in 2017 by Changpeng “CZ” Zhao, Binance is a major player that has become essential in the cryptosphere. Initially a crypto-to-crypto only exchange, Binance was able to quickly integrate fiat currencies (dollar, euro, etc.) as well as stablecoins (such as Tether’s USDT or its own in-house stablecoin, BUSD), to facilitate the lives of these users and enable them to easily stabilize their capital gains. Click here to buy your Cardano on Binance .
BUY ADA ON COINBASE
Coinbase is one of the oldest and best known platforms for buying bitcoins , then various other cryptocurrencies. Founded in 2012, the crypto-stock exchange has always shown itself to be very respectful of regulations, to the point of succeeding in being the first to integrate its shares (COIN) into a traditional stock exchange, the NASDAQ, which obviously constitutes a guarantee seriously. Click here to buy your Cardano on Coinbase .
BUY ADA ON KUCOIN
Officially launched in September 2017, KuCoin is a crypto exchange that was heavily inspired by Binance on several points. In addition to also having its own token (the KCS), the platform has launched its own blockchain (the KuCoin Chain or KCC), taking up the idea of its competitor’s Binance Smart Chain (BSC). KuCoin offers one of the widest varieties of cryptos on the market.
HOW TO BUY CARDANO (ADA)?
STEP 1: DOWNLOAD A COMPATIBLE WALLET
First, you need to download and install a cryptocurrency wallet on your device that supports native Cardano ADA tokens.
Even if we of course leave you entirely free of your choice, it is generally preferable to choose the wallets recommended by the official site of the project. In this case, the cardano.org site of the Cardano Foundation directs us to the Deadalus wallet and the Yoroi wallet .
Where the Yoroi Wallet wishes to simplify its use as much as possible, the Deadalus wallet provides complete functionality and maximum security .
Indeed, the first (Yoroi) is a “light” wallet that does not require downloading the entire Cardano blockchain to interact with it (and therefore to easily and quickly carry out transactions). Yoroi will therefore be ideal for beginners who are not yet very familiar with the intricacies of how cryptocurrencies work, even if it involves a dependency on full nodes (which have downloaded the entire blockchain).
And precisely, to maximize the security and confidentiality of your transactions, the Deadalus wallet offers you to have your own complete node , by synchronizing you with the entire Cardano blockchain. Deadalus will therefore be ideal for having the maximum functionality and having a very square storage solution for its ADAs.
The most important thing, once you have made your choice, will be to note down and keep the private key of your wallet. It often comes in the form of a passphrase of 12 or 24 words, which must be kept in order , and not make the slightest spelling error on each of them. Many fortunes in cryptocurrencies have remained forever blocked, because their owners have lost, forgotten or misrepresented their private key.
If you really worry about the responsibility of keeping this private key, you can temporarily delegate this responsibility to the exchange on which you will buy your ADAs.
In this case, you can go directly to step 2 below, but be aware that this will have some drawbacks, such as not being able to take advantage of certain features (such as staking rewards which are not supported by all platforms). And above all, it will be the crypto-exchange that will hold the private keys of “your” ADAs, which it will hold in your name (which induces a counterparty risk).
STEP 2: CHOOSE A CRYPTO EXCHANGE AND CREATE AN ACCOUNT THERE
If you already have accounts on certain exchanges, maybe they offer the purchase and exchange of ADA tokens, but if not, you will have to choose one according to your needs :
- Would you like to take the opportunity to buy other cryptos? In this case, it will be better to choose a platform that offers many altcoins;
- Do you plan to buy ADAs with fiat currencies (euro, dollar, etc.), or rather trade between cryptos? Or both? Some exchanges only offer one or the other, so pay attention to this point;
- Of course, you should avoid exotic platforms, and stick to those with the best reputation for security . For a popular token like ADA, this task will fortunately not be complicated.
The Binance platform is not one of the most important crypto exchanges on the market for nothing and responds rather well to all the points above. We will therefore take it in the examples below.
Account creation on Binance
To register Binance , please click here . Fill in the necessary information for your user account to be created (registration via e-mail or mobile phone).
Once this step has been completed, you will receive a code via the email (or mobile) address you have given. Enter this code in the form, you are now registered. However, there are other important steps to follow.
Verify your account with your ID (KYC)
Before starting to trade, like all trading platforms, you must verify your customer account with your identity document, for this, click on “identification”.
Once this step is completed, please click on “verify”. You will then be redirected to a page that will look like this.
Please select your country of residence. Make no mistake, this is a crucial step for further verification of your customer account.
You then arrive on another page where you will be asked for a lot of personal information. Again, take the time to fill in this information carefully. Last name, first name, place of residence, all the information that appears on your identity document must correspond to what you mark on the site.
As soon as the information has been filled in, the identification process is not yet complete.
After filling in the information on your ID or passport, you will need to send it to Binance Support who will verify that you are who you claim to be.
Finally, to fully verify your identity, a photo of you taken in real time will be requested.
Once all the steps have been completed, Binance Support should analyze your information as soon as possible. You are also advised to complete all the steps in less than 15 minutes and not to refresh the page during the identification process.
Securing your account on Binance (2FA)
Before making your first coin exchange, it is important to secure your account. Many users neglect the security of their online accounts despite the fact that several security options are available, for our part, we are of the opinion to systematically secure their accounts, an opinion shared by the majority of traders.See also What is Blockchain ? definition, bitcoin… Everything you need to know
2FA is a double authentication service that further strengthens the security of your account. We are of the opinion to activate it systematically, and this on all your accounts on the trading platforms where your money circulates.
To access this option, please click on “security”.
You then arrive on a page that will provide you with three different methods of double authentication. We have decided not to present the first one to you and to only speak to you about authentication with Google or via SMS on your mobile.
If you decide to identify yourself with the Google service, you will need to follow several steps.
– Step 1: Download the Google Authenticator app.
– Step 2: scan the QR CODE with your application. If you are unable to scan the code, please write down the code that is displayed in your application.
– Step 3: Write down your code. In case of loss or theft of your phone, this code will be used to authenticate you with Binance support .
– Step 4: please enter the code that you receive on your email address as well as the code that is displayed on your Google Authenticator application.
Once all the steps have been completed, your account is equipped with double authentication.
You will also be able to secure your account with your phone number.
First, you will need to provide your phone number. Binance will then send you a code that you must fill in as soon as possible. SMS authentication can be complementary to Google Authenticator.
You will then have to pass different levels of identity verification ( KYC procedure ), depending on your wishes and needs. As a security measure, we also recommend that you activate two-factor authentication (2FA) to better protect your account.
STEP 3: BUY ADA FOR FIAT CURRENCY OR CRYPTO-TO-CRYPTO EXCHANGE
Buy ADA with Euros on Binance
One of the advantages of Binance is that you can buy Cardano project tokens with fiat currencies as well as other cryptos. In this first case, click on “Buy cryptos” (or “Buy Crypto” ), and you will then have several methods of purchase.
In the example below, we have chosen payment by credit card . All you have to do is enter either the amount in euros you want to invest or the number of ADAs you want, and the other box will be filled in automatically, depending on the euro/ADA rate at the time of purchase. (which is also indicated).
Exchange BTC or USDT for ADA on Binance
On Binance, Cardano’s ADA tokens are exchangeable for several other cryptocurrencies – Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) – and for several stablecoins – Tether’s USDT and Binance’s BUSD.
After having chosen which other crypto-asset you wish to buy your ADAs with, you will have to go to “Trader”, then “Markets”. In the case below, we have chosen ADA/BTC (Cardano against Bitcoin).
In the “Price” box (far right), you will need to set the price in BTC that you want for an ADA in the event of a “Limit” order (at a limited price), or choose a “Market” order ( at market price) to simply fill in the “Amount” (number) of ADA that you want.
Choosing the ADA/USDT pair , the same move is possible with Tether’s US dollar stablecoin, USDT . Ideal if you want to have a better idea of the price at which you are buying your ADAs, because 1 USDT is supposed to be worth 1 USD (the variations are usually very small).
How to buy crypto currencies on Binance?
Binance offers its users to trade cryptocurrencies. To do this, follow the next two steps.
– Step 1: click on “buy cryptos” located to the right of the red arrow.
– Step 2: choose “bank deposit”.
Buy cryptocurrency by credit card on Binance
Once on the page, choose the purchase method that suits you best. In our case, it will be a purchase of crypto currencies by credit card.
Step 1: click on “credit card (VISA/MC)”
Step 2: enter the amount of your purchase.
Once the first two steps have been completed, all you have to do is fill in the following information. You will then only have to fill in your banking information and your currency will be in your Binance account .
Contrary to a transfer where no fees are to be expected, with a credit card, expect a 2% fee of the value of your deposit.See also How to create an NFT ? – Crypto Guide 2022
Buy cryptocurrency by bank transfer on Binance
Binance also offers its customers to buy cryptocurrency by making a transfer. To do this, you must choose the “bank transfer (SEPA)” option.
Step 1: Insert the deposit amount you wish to make.
Important Notes: The name that appears on your bank account must be the same as your Binance account . If this is not the case, your transfer will not be authorized by the site.
Step 2: go to your bank or your bank’s website and make a transfer by filling in the information in the red box.
Unlike credit card deposits, no fees will occur when making a transfer.
How to withdraw money from Binance?
Withdraw money in cryptocurrencies on Binance
On Binance , it is possible to transfer your coins from the Binance platform to other online exchange platforms such as FTX , KuCoin or Bittrex for example. It is also possible for you to send your crypto currencies to a wallet whether physical, software or paper, it is practical if you want to pay a friend.
Step 1: Log into the site and click on “wallet”, then “wallet overview”.
Step 2: Click on “withdraw”.
Step 3: then click on “your cryptos”.
Step 4: Choose the coin you want to transfer from your Binance account .
Step 5: Choose the network. Attention, the network corresponds to the Blockchain which hosts this coin, do not get the wrong network, if you send a BTC to a native bitcoin wallet choose Bitcoin. An ERC20 token must transit on the Ethereum network (ERC20), a token on the Binance Smart Chain circulates on the BSC network (BEP20). If you choose the wrong network, these coins can be lost forever, Binance does not reimburse for customer errors. You are therefore advised to send a small amount the 1st time to check that the transaction went well and then to send the rest in a second transaction to avoid nonsense if it is the 1st time you are making a withdrawal. or you have any doubts. It is better to lose a little in costs than to lose everything on a silly mistake.
Step 6: If you chose Bitcoin, please enter your recipient’s BTC address.
It is very important to enter a Bitcoin address. If you enter another address, you may lose the coin you want to send to your recipient. (Same for Ethereum and any other coin)
Step 7: Fill out the final information needed to ensure your coin transfer goes smoothly.
Step 8: an SMS will be sent to you with a code that you must fill in as soon as possible. This service allows Binance to ensure that you are the person who wishes to make this transfer.
How to Withdraw Euro Money on Binance
To withdraw money in euros on Binance , first make sure you have changed your crypto currencies to the fiat currency of your choice. Once you have achieved this, follow the steps.
Step 1: Log in to your account, click on “wallet”, then on “wallet overview”.
Step 2: Click on “withdraw”.
Step 3: Select “Fiat”.
Step 4: Select the currency in which you want to receive your money.
Step 5: Then choose how you want to receive your change. You have the choice between bank transfer (SEPA) or credit card (VISA only).
Step 6: Write down the amount you wish to withdraw and click “continue”.
Step 7: fill in the necessary information to receive your money on the method you have previously selected. Finally, before confirming your transaction, a summary of your withdrawal will be made.
A complete tutorial on Binance has been made
SHOULD YOU BUY CARDANO? FORECAST, RISKS AND STRATEGIES.
Cardano has a lot going for it. Launched in 2017, it has already survived the previous Bear Market. In 2021, from February to August, the ADA token went from $0.66 to $3.09, an increase of 366% in 6 months. The problem is that this increase did not last and since then ADA has lost 174% and returned to $1.19 at the current price. The other concern is that this price corresponds to a price dating from January 2018.
We can see on the graph below that the price of the Cardano token has literally exploded since the end of 2020, going in barely 9 months from around 0.10 and 0.15 dollars to the ATH that we have just mentioned. An undoubtedly a little too abrupt rise, which caused the prices to correct until around 1 dollars the ADA at the time of writing, which gives us a total capitalization (market cap) of about $31 billion right now.
At the tokenomics level , it should be noted that there will be a limited number of ADA ( Max supply ) tokens, set at 45 billion units, and that the supply currently in circulation is close to 33.7 billion ADA.
WHY INVEST IN CARDANO?
Before making the decision to buy Cardano or not you should consider the following points to make an informed choice.
BUYING CARDANO: THE POSITIVES.
Cardano is one of the most valuable projects among crypto-assets, sometimes even reaching the third step of the podium of the most purchased cryptocurrencies , just behind Bitcoin and Ethereum. It is a long-standing network created (on the scale of the cryptosphere) by more than serious founders, who had participated in other blockchain projects before.
In a rather fast and chaotic developing crypto space, Cardano stands out with a slower and very orderly growth model, based on academic research, peer reviews , and a computer language amenable to formal verification. , to avoid the presence of flaws in the codes.
Unlike Ethereum, its proof-of-stake (PoS) consensus is already functional and has enabled a good decentralization of the Cardano network thanks to the multiplication of stake pools, and the possibility of participating in staking for all ADA buyers (via delegation to these stake pools).
Even if smart contracts are still far from reaching their full potential on Cardano, the Alonzo update allows the first developments of decentralized applications to be carried out, and thousands of dApps are already in the pipeline.
BUY CARDANO: THE NEGATIVES.
To come back to the last positive point above, if smart contracts have started to be implemented on Cardano, there is currently – quite logically – very little history on their ability to be as efficient as on Ethereum, or other competitors. The same is therefore valid for dApps , of which we cannot yet know whether they will work as well, and above all will be as successful, as on Ethereum.
As long as transactions related to decentralized applications remain negligible, the transaction fees received by validators (the stake pools) will remain low , which could – in the long run – end up causing problems with the incentive to stake ADAs.
Moreover, the deliberately slow development (for the sake of precaution) of Cardano attracts criticism from a crypto community rather accustomed to testing at all costs in the field (even if it means ending up with flaws costing millions of dollars of crypto- assets). It’s hard to be a turtle in the hare race that is the cryptosphere.
It is therefore difficult to really believe in the rise of the ADA. On the other hand, the project announces different eras and we are only at the second. It is therefore necessary to monitor the fundamental of the project if you intend to invest.
TRADER CARDANO: WHAT TAXATION? HOW TO DECLARE?
You must declare your cryptocurrencies in the digital asset category during your tax declaration , also there is an overall tax of 30% on your capital gains , which take place as soon as you convert your cryptocurrencies into euros or dollars (fiat currencies). ) or that you buy an object in cryptos.
CARDANO: WHAT IS IT?
Before buying your first ADA , a brief review of its characteristics. Cardano is a blockchain created in 2017 by Charles Hoskinson. It was quietly unveiled in 2015 and was funded in 2017 by an ICO (Initial Coin Offering) that raised $60 million. The blockchain went live in September 2017. Its native ADA token was named after computer pioneer Ada Lovelace. It is seen as a third generation blockchain by its creators and claims to solve existing problems: Bitcoin is too slow and too rigid, Ethereum is not secure or scalable.
Cardano uses a PoS, Proof of Stake named Ouroboros. The blockchain is slightly different from that of Ethereum and aims to be more scalable. It is composed of two layers, a payment layer and a calculation layer. The first layer allows users to send and receive ADAs. The method used is similar to that of Ethereum .
The second layer is the calculation layer, it allows users to launch and sign smart contracts. Again this looks similar to Ethereum but this is where the Cardano blockchain stands out. Cardano is more adaptable because it can be changed according to end users. Indeed, the blockchain can be modified without touching the settlement layer and therefore without impacting the ADA or the users.
FREQUENTLY ASKED QUESTIONS WHEN BUYING CARDANO (ADA).
Can Cardano be purchased via ApplePay or GooglePay?
Yes, the Ascendex exchange allows you to buy Cardanos with ApplePay or GooglePay, however this goes through the MoonPay service provider, whose fees are quite substantial.
Can Cardano be purchased through Paypal?
No, Coinbase allowed this at one time but currently Paypal deposits are not available.
Where to store your Cardanos after purchase?
To store your Cardanos you need a wallet, it can take the form of hardware or software, a software wallet will be software that generates a seed phrase also called “Backup Phrase”, this seed phrase allows you to recover your Cardanos on any new wallet if you lose yours. This seed phrase – this seed that will hatch your tokens from your wallet – is a key that only you must have on your keyring or else your safe will be robbed.
If you want to invest in a small amount of Cardano, your best ally will be Binance to buy and store your cryptocurrencies, if however you do not want to keep them on a CEX, a centralized exchange, you can take out your cryptocurrencies on an external wallet, such as Metamask.
You can also use a hardware wallet like those offered by ledger by getting a ledger nano x or a ledger nano S.
How to secure your Cardanos?
For Cardano as for other cryptocurrencies, the best way to secure them remains a Hardware Wallet. It is a physical safe in the form of a USB key. Ledger being the best known, it is the best way to secure your Cardano and cryptos.
What to do with my Cardanos after purchase?
Cardano offers everything that a crypto bringing smart contracts can offer you, with your Cardanos you can create or buy NFTs , create your own cryptocurrency , and enter decentralized finance recently . Or you can simply keep them for yourself as a retail investor.
CONCLUSION: THE BEST WAY TO BUY OR TRADE CHEAP CARDANOS.
The best way to buy Cardanos will be for you to go to Bin a nce first is to use a SEPA transfer if you have time, on the other hand if you want to use the easiest way to be able to use your card bank Mastercard or Visa. With the credit card you will have 1.8% fees on Binance.
Then, you are free to keep them on Binance , it is easier to leave them there but if you want to secure them as much as possible, you can transfer them to your software wallet or your hardware wallet. Finally, we advise against using eToro, which is not reputed to be a reliable platform.
FAQ on Binance
Is Binance safe?
Binance is the largest website to exchange, buy and sell cryptocurrencies in the world. It is used by millions of users every day. Binance is one of the most serious brokers in the industry, and you can safely provide them with personal details. However, cryptos are not without risk, and if you do not wish to trade and want to protect your cryptocurrencies from potential hacks against Binance or your own account, you can withdraw your cryptocurrencies to a hardware wallet such as Ledger. Not your keys, not your cryptos.
Can one pay with credit card on Binance?
You can buy cryptocurrencies on Binance with your credit card. To do so, refer to the earlier section on “Buy cryptocurrencies with a credit card on Binance” in this article.
Does one need to be over the age of majority to register on Binance?
Just as for any broker in traditional markets, you must be over the age of 18 to start using Binance and trading cryptocurrencies, as mentioned in the general terms and conditions. Thus, if you are under the age of 18, do not try to register for Binance as you will be caught upon verification.
For how long has Binance been around ?
Binance is a trading platform that was launched on 14th July 2017 and has its headquarters in Hong Kong (special administrative region in China). Its CEO is Zhao Changpeng. In 2018, Binance became the largest cryptocurrency broker worldwide in terms of volume and number of users. It also has its own cryptocurrency, the Binance Coin (BNB) and its own blockchain, the Binance Smart Chain.