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Wondering where to buy Cardano (ADA)? In this guide, we list a few reputable exchanges where you can buy Cardano crypto.
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Introduction
Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a global collective of expert engineers and researchers. The project began in 2015 and was publicly announced in 2017.
Cardano Background
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
Cardano’s technology is built from peer-reviewed research publications and has been designed in collaboration with academics from Tokyo University, the University of Edinburgh, Haskell programmers from Well-Typed LLP, as well as Emurgo – a Japan-based blockchain venture studio.
How to Buy Cardano
Cardano is a cryptocurrency that is currently available on a few exchanges. The most popular exchange to buy Cardano is Binance. You can also buy Cardano on Kraken and Bittrex. In this section, we will cover how to buy Cardano on each of these exchanges.
Setting up a Cardano Wallet
If you want to buy Cardano (ADA), you’ll need to set up a digital wallet to store your coins. Cardano doesn’t have its own wallet so you’ll need to choose from one of the many third-party wallets that support the coin. The most popular third-party wallets for ADA are Daedalus and Yoroi.
Daedalus is an open-source wallet created by input-output global (IOG), the company behind Cardano. It’s available for Windows, MacOS, and Linux. Yoroi is a light wallet created by IOG and Emurgo, another company that supports Cardano’s development. Yoroi is available as a browser extension, mobile app, or desktop app.
Once you’ve chosen a wallet, download it and follow the instructions to set it up. When you first open your wallet, you’ll be given a recovery phrase consisting of 12 or 24 words. This phrase is your private key so don’t lose it! If you do, you’ll lose access to your ADA coins. Write down your recovery phrase and store it in a safe place.
Next, you need to find an exchange where you can buy ADA. The most popular exchanges that support Cardano are Binance, Kraken, and Coinbase Pro.
Binance is the largest cryptocurrency exchange in the world and it offers two markets for ADA: ADA/BTC and ADA/USDT. Kraken is one of the oldest cryptocurrency exchanges and it offers three markets for ADA: ADA/BTC, ADA/ETH, and ADA/USD. Coinbase Pro is one of the most popular cryptocurrency exchanges among US investors and it offers one market for ADA: ADA/USDC.
Once you’ve found an exchange that supports Cardano, create an account and verify your identity by uploading a photo ID. Once your account is verified, deposit funds into your account using one of the supported fiat currencies (typically USD). Fiat currencies are government-issued currencies like USD or EUR that are not cryptocurrencies.
After your account is funded, navigate to the trading page on the exchange and place an order to buy ADA using either a limit order or market order. A limit order lets you specify the price at which you want to buyADA while a market order buysADA at the best available price at that moment.
Buying Cardano on an Exchange
If you want to buy Cardano (ADA), the first thing you need to do is create an account on an exchange that lists the cryptocurrency. Binance, Bitfinex, and Kraken are a few popular options that support ADA trading.
Once you have your account setup, you’ll need to deposit Bitcoin (BTC) or Ethereum (ETH) into your account. These are the two most popular cryptocurrencies and are used as “base pairs” for many altcoins, including ADA.
Once your BTC or ETH is deposited, you can go to the trading page on the exchange and place an order for ADA. The specific steps will vary slightly from exchange to exchange, but the general process is usually pretty simple.
One thing to keep in mind is that most exchanges require you to verify your identity before you can start trading. This usually involves uploading a copy of your ID and sometimes a utility bill or other form of address verification.
Exchanges that support ADA trading:
-Binance
-Bitfinex
-Kraken
Conclusion
These are just a few of the most popular exchanges that offer Cardano. As always, do your own research before investing in any cryptocurrency, and never invest more than you can afford to lose.
