How To Buy Cardano In 2020?: Quick Guide For Beginners
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How To Buy Cardano In 2020?: Quick Guide For Beginners

March 31, 2020      Tarulika Jain

Charles Hoskinson introduced Cardano to the world in 2017 as a third-generation platform to the crypto community. To an utter shock, Cardano somehow became a popular crypto platform in just two years and climbed up to 11th place in terms of the market capitalization of crypto coins. Cardano has enough potential to outshine in the crypto markets with its native currency Ada if it overcomes the shortcomings associated with Bitcoins and Ethereum. So keeping the progress of Cardano in mind and speculating its outstanding future, let us try to understand how to buy Cardano in 2020.

How To Buy Cardano (ADA) cryptocurrency?

 

Just like you can buy bitcoin, ethereum or any altcoin by opening your crypto account; similarly, you can buy Ada coin or Cardano by creating your account on different platforms. Centralized crypto exchanges are one of the most common and user-friendly platforms to start your crypto trade. Credit cards, Debit cards, bank transfers, online wallets, cash or any fiat currency like USD, INR etc. can be used to purchase the Cardano. I guess, answer to “How to buy Cardano” is not very difficult if you are already a crypto enthusiast or associated with trading in crypto coins. But for newbies, let us try to briefly explain the steps for buying Cardano in our quick guide.

Steps For Buying Cardano Coins

 

Cryptocurrency is already difficult in itself to understand, so let me not complicate the steps for buying Cardano and start with easy to follow the guide:

 

  • Take a deep breath and just google the crypto exchange platform(names are mentioned in next section) from where you can start buying Cardano.
  • Open at least two platforms (for comparison), to choose best for your investment. Read the guidelines carefully and also the facilities provided by them.
  • After reading the website carefully, just go for it. Register your account on the particular exchange or service provider (Sometimes you need to verify identity also).
  • Pheww!! Now, link your crypto account with your bank account so that you can start buying the Cardano coins.
  • Get Set Go!! Select the option “Cardano” and just mention the number of Ada coins you want to buy (or trade).
  • And the final step, the most crucial one, Press “Buy now”.
  • Yeah!! Now you can check in your Portfolio section, Ada must be added successfully in your account.

Now, when we know about the steps to buying Cardano, let us try to find out from where and how to buy Cardano coins.

Where and How Can You Buy Cardano?

 

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Even if you are a newbie in the crypto ecosystem, you must have heard the names of a few of the exchanges of the crypto market. Some exchanges rarely fail to live up to the expectations of the customers by providing them with a user-friendly secured platform. So, let us forward and explain briefly about the popular centralized crypto exchanges and other platforms along with payment modes from where you can start buying and trading Cardano.

Buy Cardano On Crypto Exchanges

 

 

  • Binance: Malta-based crypto exchange, Binance is the unbeatable choice in the crypto space for the crypto traders. Binance could be the convenient option to buy Cardano with your debit card and even with the bank transfer.
  • Coinbase: Well established secured crypto exchange, Coinbase can facilitate you with a multi-coin cryptocurrency wallet. You can easily buy Cardano coins for Coinbase but the two hours long verification process may leave you restless(But Verification is for your security!).
  • Bitpanda: For the users of Eurozone, Bitpanda can be the trusted crypto exchange. The platform of Bitpanda has the advantage of an easy verification process and self-automated process, which allows you to purchase Cardano directly with a fully integrated wallet.
  • Coinex: One of the easy, secured, and quick crypto exchanges, Coinex allows the users to buy Cardano in a hassle-free manner.

The portal of CoinMarketCap can also help you to find the best exchange for buying coins as it compares the trading volume of various exchanges.

Buy Cardano With Credit/Debit Card

 

Credit/Debit cards have revolutionized the financial system as it provides a quick, easy and handy way of transaction. Crypto markets are no exception, as the coins can be easily purchased through them. ADA has been accepted by many platforms and can be easily purchased via credit/debit cards.

  • Changelly: One of the platforms of a decentralized exchange, Changelly is considered as one of the fastest platforms to buy Cardano as it doesn’t even ask for deposits but directly transact the money to purchase ADA.
  • IQ Option (Crypto Broker): Platforms like IQ Option can help you in initiating your ADA buy via credit cards. If you want to maintain anonymity and do not want to hold your tokens in any wallet, you can choose the crypto brokers.
  • CoinSwitch: CoinSwitch is also a decentralized platform which allows you to buy ADA without even creating your account, but it requires proof of identity to ensure that credit card belongs to the particular user.
  • Coinmama: One of the popular platforms among European crypto traders, Coinmama also allows you to buy ADA with your credit Account. But you need to complete the registration and verification process to start your buy.

Undoubtedly, credit and debit cards are the convenient mode of transaction but sometimes the expensive one due to the expensive transaction fees associated with it. But this might be one of the answers to-” how to buy Cardano”.

Buy Cardano With Paypal

 

 

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Paypal is one of the most extensive online payment services which focuses on the security of funds of their customers. Thus, Paypal cannot be used directly to buy Cardano or any crypto coin but can be used indirectly to transform Cardano to PayPal funds.

The first option is to purchase Bitcoin with Paypal deposits and use crypto brokers like any exchange like Binance, Bithumb, Huobi etc. or decentralized platforms like Changelly, Shapeshift, Swapy etc. (who accepts Cardano) to convert bitcoins to Cardano.

The second option could be buying the Cardano from trading platforms like eToro using your PayPal account.

Buy Cardano With BTC

 

If you are already a crypto trader or have an account on the crypto exchange, then you must be buying Cardano with BTC. It is one of the simplest ways to acquire Cardano (Don’t worry if you are a beginner, this guide on how to buy Cardano will surely help you!)

 

You just simply need to buy bitcoin from your registered account and trade it for Cardano. But How To Buy Cardano?

 

Firstly create your account on crypto exchange and then don’t forget to set up “2FA”, which is a security feature to safeguard your digital codes stored in crypto wallets. After setting up your account, select “BTC” in the deposit section of the account, which might pop up with “wallet address”. This address will be used by you to fund your account by sending BTC into your wallet. After a wait of a few hours, BTC will be credited and are ready to trade. Just go to the trading section now and locate the trading pair of ADA/BTC to exchange your bitcoins with Cardano. Finally, select the number of coins you wish to have and click on the trade button. Yeah!! You have the Cardano coins in your account.

Don’t ignore the transaction fees which will be charged to you while trading BTC with Cardano.

Buy Cardano With Cash

 

 

Buying Cardano with cash is somehow similar to buying Cardano with BTC. There is one bad news for Cardano enthusiasts that they cannot buy coins directly with cash. But, you can indirectly use your cash by first purchasing BTC or ETH (with cash) and then exchange them with Cardano.

LocalBitcoin is one of the crypto websites which can connect sellers of crypto coins to buyers having cash. Also, LocalCryptos, another site is available, which allows the bank transfers to complete the transaction(Beware of the fraudulent sellers!! Read the reviews before initiating the trade).

How To Buy Cardano In India?

 

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On March 4, 2020, the Supreme Court of India declared the “blanket ban” on the crypto sector as unconstitutional. The ruling of the court attracted the inflow of money in the crypto markets of India. Newbies also started entering into the markets to gain huge profits. So, maybe you know about BTC or Eth, but you can also buy Cardano in the Indian markets. But how to buy Cardano in India?

 

The simplest way to buy Cardano in India is via crypto exchanges like Binance, Bittrex, Sagy (directly through INR). You already know how to create an account and use it to buy Cardano. Also, decentralized platforms like Changelly, ChangeNow, Swapy, Flyp.me can be used to initiate and complete your purchase of Cardano. You can use your credit/debit cards, bank transfers, PayTM and also platforms like LocalCryptos and LocalBitcoins.

Just don’t forget to read the guidelines and the transaction fees charged by the platforms.

How To Sell Cardano?

 

The basic rule of trading is to buy and sell what you hold to gain profits. Our guide is on how to buy Cardano but let me mention in brief how to sell Cardano also! So when do you need to sell? When the price of a coin is above the price you buy it, you can sell the coins (depending on the condition or reduction if the price will increase more or not!). Still, the question remains, How? You can use your crypto account if you want to sell the coins or you can make another account for trading with the desired pair of crypto coins. Similar to the process of buying BTC, you can opt for Cardano and trade or sell the desired number of coins.

Final Thoughts

 

After finishing reading the guide on how to buy Cardano, you must have a brief knowledge of different exchanges and payment methods which can be used while purchasing the Cardano coins. So, you can at least buy some of the Cardano and diversify your portfolio. Cardano holds a promising future with its upgraded technology and expert development team.

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Tarulika Jain
Tarulika Jain

Tarulika is an engineering graduate and an eloquent crypto blogger. Being a digital economy supporter, she keeps herself updated with the latest innovation in the crypto industry, Blockchain Technology, Internet of Things and other technologies. Currently, she curates the simple and interesting content for Crypto guides for beginners. If you want to learn more about the cryptocurrencies, latest trends of blockchain-powered AI applications, you are free to follow her on LinkedIn and Twitter.