Cardano (ADA): Guide to Cardano & how to buy it

Review of: Cardano (ADA)
Cryptocoin:
Ahmed Shah

Reviewed by:
Rating:
5
On May 2, 2018
Last modified:May 2, 2018

Summary:

Cardano (ADA) is a decentralized public blockchain and cryptocurrency project and is fully open-source. It is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed.

Cardano aka ADA crypto coin is one of the youngest projects started in 2015 but with its technology and features it has become top ten crypto coin in the coinmarket. With its increasing trade volume, it has become popular coin with $30 Billion trade volume. It is quite extreme for an emerging cryptocurrency and hence Cardano is being traded by many people today.

Cardano (ADA) is a decentralized public blockchain and cryptocurrency project and is fully open-source. It 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 ADA is a blockchain platform evolved out of a scientific philosophy, the platform is constructed in layers, which will allow for easier maintenance and upgrades.

Choosing a Wallet for Cardano

Before buying Cardano (ADA) you must choose a better wallet to store you ADA tokens in your wallet. To choose the best wallet for your Cardano, you must have to choose one of the following wallets below:

Desktop Wallet

Cardano is still in its early stages of development so there are not many options available but there is an official software based wallet called Daedalus available cross-platform on windows and mac.

Daedalus cross-platform Wallet for windows & mac

Daedalus can be downloaded from official Cardano website and is safe and secure desktop wallet for storing Ada.

Hardware Wallets

The best method to store coins is hardware wallets as it is offline and secure but unfortunately, there are no hardware wallets currently capable of supporting Ada.

Web/Mobile Wallets

As it is currently in development and official trading has just begun in late 2017 there are no web wallets available for Cardano and those claiming to support ADA are likely to scam and you are advised not to transfer your currency in web wallets as they are the least secure wallet type.

However, there is a Mobile wallet in development by Cardano and will be launched officially soon.

How to Buy Cardano (ADA)

Cardano is pretty new in the market with respect to trading so there are not many options but we will tell you all possibilities available for buying Ada on exchanges.

Buying Cardano from HitBTC

To buy Cardano ADA tokens you can use your BTC balance to exchange with Cardano tokens. The claim of being the worlds most advanced exchange with a daily trade of over $250 million hitBTC is really the best option to consider as the list contains more than 200 coins and Ethereum, BTC pairs to trade for.

Cardano can be easily found on HitBTC but can only be exchanged for BTC or Ethereum as it does not support fiat deposits or withdrawals, BTC or ETH can be easily bought online on coin mama or coin base and can be traded for ADA.

Binance

Launched in mid-2017, Binance is now considered number one exchange in 24-hour trading volume.

Binance is Asia’s based exchange has vast amount of coins to trade and hence Cardano (ADA) coin is one of them. If you are looking to buy Cardano coin then you can find it on Binance exchange but can only be traded in exchange for BTC as Binance does not accept fiat financing.

Bittrex Exchange

Last but not the least option to buy Cardano coins is from Bittrex. It is USA based exchange has got a large number of coins to select from, but however just like Binance and HitBTC this platform does not like fiat financing so if you have BTC already then this option might be good for you, as on Bittrex you can buy ADA coins by trading it for BTC or USDT (Tether).

How to Buy Using Credit Card/PayPal or Cash?

Since none of the above methods show the direct method to buy Cardano I must have to bring this to your consideration that, you have to buy Bitcoin using credit card/PayPal or cash and then exchange BTC in exchange of Cardano (ADA).

As for cash, ADA cannot be found on mediators like LocalBitcoins or etc and the only legitimate option to buy ADA is through available exchanges.

However, if one really has intention Bitcoin or Ethereum can be easily found on platforms like coinmama, coinbase or changelly using credit cards. The BTC or ETH can be bought easily converted into Cardano on any of the above-mentioned exchanges.

For buying BTC with PayPal Local Bitcoins might be a good option and can be converted to Cardano (ADA).

It is notable to move Cardano if you buy from exchanges to official wallet Daedalus as it is considered to be more secure then exchanges.

Conclusion

As in the early stages of development, there are few drawbacks for finding Cardano but the value and market are increasing day by day and it will soon be a standard coin which could be easily available like Bitcoin or Ethereum as it will gains more audience worldwide.

Leave a Reply

Your email address will not be published. Required fields are marked *