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How and where to buy Cardano (ADA): the process

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When you’re just starting out, it’s not always easy to understand how to successfully buy cryptocurrency, especially when it’s not Bitcoin or Ethereum. But fear not, we will tell you in detail where and how to buy Cardano cryptocurrency (ticker: ADA).

To do this, we will first explain the strengths of Cardano, then direct you to a platform that allows you to buy ADA tokens with ease. Finally, we will introduce the two main reasons that can push you to invest in cryptos and we will briefly see the objectives of this project, its blockchain and its cryptocurrency.

Why is it a good idea to get ADA tokens?

©Pixabay

If you want to invest in cryptocurrencies, it is important to build up a sufficiently diversified basket of digital assets in order to limit the risks as much as possible. The composition of your investment portfolio is a matter of personal choice and of course we cannot force you to buy one crypto over another.

However, it is worth noting that Cardano is a project that has been evolving for many years in the top 20 of the most capitalized cryptocurrencies. Therefore, it may be a good idea to incorporate this digital asset into your portfolio if you want to reduce your risk. From the moment a crypto has such a capitalization, it is a sign that it is popular and of quality.

Of course, the room for improvement of a crypto with a high capitalization is rather small. But the risk of prices collapsing is also more limited.

Having a few percent of Cardano in your investment portfolio is therefore an interesting idea. Before investing in ADA, however, you should do your own additional research on the subject to be sure that it is a crypto that you find interesting.

eToro, the best platform to buy crypto Cardano (ADA)

Due to its popularity, it is possible to buy Cardano (ADA) on many different crypto platforms.

However, beware and do not register on certain sites where your money would not be safe. Likewise, you have to be careful with certain platforms where the fees are too high or which are difficult to handle.

If you are new to this universe, then we recommend using a broker that is made for beginners (but also those who already have some knowledge): eToro.

The interface is very clear and you will be able to buy Cardano in just a few clicks. To go to this crypto platform, simply click on the button below:

Visit eToro

At eToro, 78% of retail investor accounts lose money trading CFDs. You need to know if you understand how CFDs work and if you can afford to lose your money. On eToro, cryptocurrency trading is done in CFDs.

If you are curious to find more details about this broker (and why it is considered by many, as the reference at the moment), we recommend that you read the eToro opinion that we had the opportunity to publish.

1) Registration on the site

Once on the eToro site, you will need to start by creating an account. Without it, you won’t have any access to the trading interface and therefore you won’t be able to buy ADA. To register, you have two different options at your disposal.

registration on etoroRegistration procedure on eToro © WF News

First, you can create an account using a Google or Facebook account. These are two quite practical options because your account is then created in just a few clicks.

Now you can also choose to make a more classic registration. In this case, you must choose a username, insert your email and choose your password (this is the option we recommend). Next, you need to check the boxes that state that you accept the terms of service and click on the create account button.

2) Identity Verification

As eToro is a regulated platform (in France it has PSAN approval), it must fulfill certain obligations under penalty of losing its operating license. Among the constraints to be respected is that of verifying the identity of its customers.

To continue your adventure on eToro, you must therefore provide documents proving that you live at your address and that you are the person you claim to be. Here are the documents that are accepted:

  • Identity document: passport, driving license or national identity card
  • Proof of address: water, electricity, gas or telephone bill dated less than 6 months and clearly indicating your address and name.

3) Deposit money

Once your identity has been verified, you will be able to deposit funds into your account. For this, the broker offers you many options. You will be able to choose between a deposit via an electronic wallet such as Skrill, Neteller or PayPal, using a credit card or by making a bank transfer.

Please keep in mind that the bank transfer may take time to arrive in your account (1-2 days). If you want to buy ADA tokens as quickly as possible, then we recommend that you use one of the other payment options available on the site instead.

4) Purchase of Cardano crypto

Now that you have money in your account, you can move on to the last step: buy Cardano cryptocurrency.

To do this, you can insert the symbol ADA in the search tab or the name Cardano. eToro will then redirect you to a window where you can buy ADA tokens.

Buy Cardano (ADA) here

At eToro, 78% of retail investor accounts lose money trading CFDs. You need to know if you understand how CFDs work and if you can afford to lose your money. On eToro, cryptocurrency trading is done in CFDs.

You have two options at your disposal to buy this cryptocurrency. Either you choose “Invest” and you then buy at the market price, or you choose “Order” and in this case, you can define a unit price not to be exceeded to buy Cardano. This last option prevents you from buying at a higher price than expected in the event of a sudden rise in the price of this cryptocurrency.

buy cardano on etoroBuy Cardano (ADA) on eToro © WF News

The advantage of using the “Invest” option is that you can get ADA immediately, with the risk that the price will be a bit higher than the one displayed (if the market were to move in the seconds necessary to execution of the buy order).

With “Order”, you have to wait for someone to agree to sell you Cardano at the price you set. This may take time, and if the price of the ADA token ever spikes, you may never be able to get tokens from the project. In this specific case, you will either have to be patient, or cancel your purchase order and submit a new one.

What can you do with your ADA tokens?

Once you have finally managed to get hold of Cardano, you have to ask yourself questions about your investment objective. Indeed, this implies either an active management of your ADA tokens, or a relatively passive management. Let’s take a look at the two most common scenarios encountered by crypto-investors.

Investing with a long-term perspective

If you bought ADA with a long-term perspective, then you won’t have much to do. In the jargon, we speak of Buy & Hold. This means that you buy and hold your cryptocurrencies up to a period of time that you define in advance (or a price target). At the end of this period, you can either recover your money (in part or in full) or decide to extend the duration of your investment.

Unlike other more speculative cryptocurrencies, you don’t take a lot of risk by investing in Cardano. However, if bad news that could plunge the price were to be published, you must be ready to react quickly to successfully part with your ADA tokens immediately.

Apart from this very unlikely case, you practically don’t have to do anything else when you Buy & Hold.

Cardano (ADA) trader

If your objective is to trade, that is to say to buy and resell on a regular basis, you need to be much more present and attentive. You should be ready to sell your ADA tokens as soon as you have reached a small profit or strengthen your positions when there has been a sharp drop in price.

Trading offers a lot of possibilities. It is possible to trade over very short periods (a few minutes), but also over longer periods. It all depends on the indicators you use and your method.

Cardano Trader

At eToro, 78% of retail investor accounts lose money trading CFDs. You need to know if you understand how CFDs work and if you can afford to lose your money. On eToro, cryptocurrency trading is done in CFDs.

If you are just starting out, we do not recommend trading cryptocurrencies. It’s something quite complicated and you risk making big mistakes that can cost you a lot of money.

Cardano: brief explanation of the project

brief explanation cardanoBrief explanation of the objectives of the Cardano (ADA) project © Cardano

Cardano originated as an alternative to the Ethereum network. Specifically, Cardano is positioning itself on the green side of things by using Proof of Stake consensus rather than Proof of Work consensus like Ethereum (until “The Merge”).

Indeed, PoS is much less energy-intensive than PoW, while maintaining a very high level of security on the blockchain.

The sectors targeted by the project are the same as its big brother Ethereum. Cardano makes it possible to create smart contracts and many decentralized applications.

A very complete ecosystem is being created and some companies are choosing to use Cardano instead of Ethereum. This is a trend that we are seeing more and more and if it is confirmed, it should allow the total capitalization of Cardano to continue to increase.

Also, the network fees are much lower than on Ethereum and people who own ADA tokens can earn rewards through the staking system, which is another plus point for this project.

Buying Cardano (ADA): what to remember

There you go, we hope you enjoyed our article and understood where and how to buy Cardano (ADA). Of course, you have the possibility to use the platform of your choice but, if you are a beginner, eToro is arguably the best platform available to you.

Cardano is among the most popular digital assets (and with a growing market capitalization). Any savvy crypto investor should therefore have at least a small part of it in their portfolio. However, it is up to each individual to assess the percentage of ADA tokens they should own based on their risk appetite.

Buy Cardano on eToro

At eToro, 78% of retail investor accounts lose money trading CFDs. You need to know if you understand how CFDs work and if you can afford to lose your money. On eToro, cryptocurrency trading is done in CFDs.