Find out “The Best Platforms to Buy Cardano You Probably Didn’t Know About” Cardano, one of the most popular revelations of the 2021 bull market, has remained incredibly relevant and in demand despite losing 89.95% of its all-time high value. You might wonder why this Charles Hoskinson-led project has stayed atop the minds of investors and the grounds won’t be far away. In 2022 alone, Cardano has upgraded its network to match up the scalability of other ecosystems such as Solana and Ethereum. If you had followed the notable developments that rocked the crypto sector in the year, then you would know how much importance the Vasil upgrade brings.
Let’s not bore you with all the details as you may have Cardano on your crypto shopping list. So, in this article, we will give you details on the top five platforms to seamlessly add Cardano to your portfolio. However, there is a chance that you do not understand what Cardano or its native cryptocurrency is. So, first, let’s give you a quick overview of Cardano before going into details of where to buy.
What Is Cardano?
Cardano was launched in 2015. Founded by Charles Hoskinson, Cardano functions as a blockchain ecosystem where developers can build Decentralized Applications (DApps). Well, you might think this is similar to Ethereum and you won’t be wrong. This is because Hoskinson is a former member of the Ethereum founding team. So, there is a bit of correlation between both crypto projects. However, Cardano has one thing that helps it rank above Ethereum, which is its transaction fee and speed. Unlike Ethereum, Cardano’s transactions are fast and you don’t have to worry about paying exorbitant fees for asset transfers. As of this writing, CoinMarketCap ranks Cardano ninth in terms of market capitalization. Its native cryptocurrency, ADA, is also worth $0.31. Now, let’s move to the easiest platforms for you to buy ADA.
Binance
Known as the world’s largest crypto exchange, Binance was one of the foremost platforms to list Cardano. In fact, the Input Output team, which serves as Cardano’s development arm once admitted that most of its users were on the Chanpeng-Zhao led exchange. So, buying ADA on Binance is pretty straightforward. All you need to do is sign up on the website or official application, verify and proceed to buy ADA using the credit or debit card option. You can also swap stablecoins like USDT or BUSD for ADA, make use of bank deposits or peer-to-peer (p2p) trading.
Bitcoin Up
If you have ever wanted to own Cardano and it has been a high hill to climb, then you should look towards Bitcoin Up. As the name implies, Bitcoin Up boasts about its thousands of users and positive reviews. Unlike Binance, Bitcoin Up is not an exchange. Instead, it is a tool that connects traders and investors alike to brokers all over the world. Now, get this right— you won’t automatically own Cardano by registering on the platform.
However, the platform will help you with reaching out to experienced traders who would breakdown the complexities of trading. Another interesting part of using this platform is that you get a demo account as a beginner. In addition, you have the option to use the manual trading feature or engage the automatic trading robot. However, in all you do, ensure that you do your own research before investing. Most importantly, confirm the rules and regulations guiding crypto trading in your country before committing any capital.
Coinbase
With over 150 cryptocurrencies and more than double of trading pairs, Coinbase is one of the best platforms to buy Cardano. Like Binance, Coinbase is also a cryptocurrency exchange. However, it differs from the former in some clear ways. Coinbase charges some transaction fees irrespective of the method you use to buy ADA. For Coinbase, transaction fees range between 0% to 0.6%. However, the methods to deposit are very straightforward. You also need to know that the minimum deposit is $2. Interestingly, trading is not the only option for Cardano on Coinbase. The exchange also offers the option to stake ADA.
eToro
In order to buy ADA on eToro, you don’t have to go through complex processes. As one of the best platforms with the best security, eToro ensures that its users have no problems buying the smart contract token. All you need to do is to follow the procedures on depositing funds via wire transfer, debit or credit card. Once you have done that, you can seamlessly buy Cardano with the fiat currency or stablecoin deposited. However, you should note that eToro has some transaction fees associated with deposits and trading. As of this writing, buying and selling might attract as much as1% in trading fees.
Kraken
The Kraken exchange is one of the best places to buy this Proof-of-Stake (PoS) cryptocurrency. As a matter of fact, the exchange offers several methods for buying ADA. The most interesting part is that all of the available methods are hassle-free, and if you are a newbie to the platforms, it has never been so easy. All you need to do is visit the Kraken official website, or download the app. After that, ensure that you verify registration for security purposes. Then, go on to deposit money in your trading account. Finally, you can use your deposit to purchase ADA. That’s as simple as it gets.
Final Words
Finally, it is important for you to know that buying ADA does not guarantee profits or an improved PNL. However, the cryptocurrency has been tagged a revolutionary one by many top investors, even Bitcoin maximalists. Still, you should ensure that you do your own research about the tokens before you buy. Also, this article ranks these platforms best due to personal experience with them. It is very possible that some of them might not suit your trading objective, So, do well to test or research more about them before making your financial decision.
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