Where to Buy Cardano – Beginner’s Guide

Cardano is a top-rated blockchain protocol that promotes smart contracts and fast transactions. The project is also home to a popular cryptocurrency token – ADA.

If you want to know how to buy ADA in the USA with low fees at a regulated broker – this guide is for you.

We’ll also discuss the ins and outs of Cardano from an investment perspective, so you can determine whether or not this digital asset is right for you.

As you can see from the quick walkthrough above, when you use a user-friendly trading platform like the eToro, you can buy Cardano with little to no prior experience.

But, if you do require a more detailed explanation of how the Cardano investment process works, read on.

Where to Buy Cardano 

To find the best place to buy Cardano, you’ll need to research a selection of online exchanges that are suitable for your skillset. Be sure to consider fees and commissions too, alongside the regulatory standing of your chosen provider.

Consider the pre-vetted platforms reviewed below when choosing where to buy ADA or any other popular cryptocurrency asset.

1. eToro – Overall Best Place to Buy Cardano for 2022

The best place to buy Cardano in the US is eToro. In choosing this broker, you can buy Cardano on a spread-only basis. This means that you only need to cover the gap between the buy and sell price of ADA tokens. Moreover, you can deposit funds for free when your chosen payment method is denominated in US dollars.

This includes everything from debit and credit cards, ACH, and bank wires to PayPal and Skrill. USD withdrawals are also available on a fee-free basis. Not only is eToro one of the cheapest cryptocurrency exchanges to buy Cardano, but also one of the most secure.

This is because it holds licenses with an abundance of regulatory bodies, such as the SEC, FCA, ASIC, and CySEC. We also like eToro for its broad range of supported digital currencies. In addition to Cardano, this also includes other undervalued cryptos such as Bitcoin, Ethereum, XRP, Decentraland, BNB, and more – over 70 other cryptos in total.

Irrespective of which cryptocurrency you want to buy, eToro requires a minimum trade size of just $10. This will suit those of you that wish to buy Cardano and other digital tokens on a budget. If you looking to diversify without dedicating countless hours of research into the process, consider an eToro smart portfolio.

This will allow you to invest in a diversified basket of digital currencies which, in turn, is managed by eToro. Alternatively, you can also consider copy trading, which allows you to mirror the investments of a seasoned trader of your choosing. eToro is also accessible via an Android and iOS mobile app, which connects to your main account.

If you’re a complete beginner, consider opening an eToro demo account, which comes preloaded with $100,000 in paper trading funds. This gives you access to live trading conditions – but in a risk-free manner. Finally, eToro is also home to a large selection of commission-free stocks and ETFs.

Cryptoassets are a highly volatile unregulated investment product. 

2. Crypto.com – User-Friendly App to Buy Cardano

Crypto.com is another online broker that is suitable for beginners wishing to buy Cardano in a simple and burden-free way. Fees at this brokerage are very competitive, as Crypto.com charges just 0.4% in trading commissions.

And, if you trade larger amounts or decide to stake CRO tokens, the platform will offer you even lower fees. If you want to buy Cardano with a debit or credit card, Crypto.com charges a fee of 2.99%. Although this is more expensive than eToro, it’s still cheaper than many other exchanges in the space.

Once you have purchased Cardano, you might then consider diversifying across other digital tokens. At Crypto.com, take your pick from over 250 different digital currencies of all shapes and sizes. In particular, this exchange really stands out for its crypto savings accounts.

As the name suggests, in depositing your digital tokens into your Crypto.com account, you will be paid a rate of interest. APRs will vary depending on the cryptocurrency you wish to deposit and whether or not you are happy to lock your tokens away. Higher yields are also offered when you stake CRO tokens.

If you wish to increase your exposure to the digital currency industry, you can also consider taking out a digital asset loan. LTVs at Crypto.com can be maximized at 50%, which is essentially leverage of 1.5x. Crypto.com can also be used to buy and sell NFTs. There are thousands of NFTs listed on the Crypto.com website, and buyers are not charged any fees.

Cryptoassets are a highly volatile unregulated investment product. 

3. Coinbase – Simple and Fast Exchange to Buy Cardano With a Debit or Credit Card

Next up we have Coinbase – which is a leading US-based crypto exchange with millions of customers on its book. If you’re looking for a simple and fast way to buy Cardano, Coinbase accounts can be opened in a matter of minutes.

And, once you have uploaded your government-issued ID via the KYC process, you can instantly invest in crypto with a debit or credit card. For Cardano investments above $200, you will pay a debit/credit card fee of 3.99%. Anything below this and a flat fee kicks in, depending on the size of the investment.

If you wish to pay lower fees, you will need to deposit funds via a domestic bank wire or ACH. However, take note, you will need to wait for 1-3 working days for the funds to arrive and a standard commission of 1.49% will apply once you buy Cardano. Taking this into account, Coinbase offers a convenient way to invest in crypto, but the platform is expensive.  

What we also like about Coinbase is that the platform offers a super user-friendly mobile app for both iOS and Android. This will connect to your main Coinbase account, so you can trade Cardano no matter where you are. Furthermore, both the Coinbase website and mobile app double up as a crypto wallet.

In terms of safety, Coinbase is regulated in the US to offer crypto brokerage services. Moreover, the platform has since become a public company, with Coinbase stocks trading on the NASDAQ. Coinbase also implements cold storage systems on 98% of client digital funds.

In addition to Cardano, Coinbase also allows you to buy and sell 100+ other cryptocurrencies. This includes the likes of Stellar, Dogecoin, and Ethereum, as well as Bitcoin, Shiba Inu, and Decentraland. Finally, if you’re an experienced investor, you might also consider Coinbase Pro – which offers advanced trading tools and charting indicators.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Binance – Popular Crypto Exchange to Trade and Buy Cardano 

Binance is a large cryptocurrency exchange with a reported 100+ million clients. The platform is particularly popular with crypto day trading professions, not least because Binance offers access to over 60+ markets, alongside industry-leading fees. 

For instance, if you were to trade Cardano against another digital currency – such as Bitcoin, BNB, or Tether, you will pay a commission of just 0.10% per slide. This means that for every $500 you trade, you will only be charged $0.50. 

Moreover, Binance operates a variable pricing structure that rewards higher trading volumes. You can also reduce your trading fees by a further 25% by holding BNB tokens. We also like the fact that US clients can deposit funds for free via a domestic bank wire or ACH.

If, however, you wish to buy Cardano with a debit or credit card, Binance charges a whopping 4.5% plus a 0.5% commission. As such, if you wish to invest in the fastest way possible, then you will need to pay a premium. In terms of storage, you can keep your Cardano tokens in your Binance web wallet for added convenience. 

In doing so, you will benefit from a range of security protocols, such as cold storage and two-factor authentication. The latter includes email and mobile confirmation on each log-in and withdrawal request. You can also withdraw your Cardano tokens to Trust Wallet, which is a non-custodial wallet backed by Binance.

In addition to trading and exchange services, Binance also offers crypto interest accounts. This allows you to generate a yield of your crypto investments and the specific APY will depend on the token. We also like Binance for its iOS and Android app, which connects to your main account.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

What is Cardano?

Cardano is a blockchain technology protocol that was created in 2015 by Charles Hoskinson – who is also the co-founder of Ethereum. Unlike Ethereum, Cardano utilizes the proof-of-stake consensus mechanism, which promotes faster and more scalable transactions than its proof-of-work counterpart.

For instance, Ethereum is able to handle around 16 transactions per second, while, in the case of Cardano, this could reach up to 2 million. However, we say could, as the team of developers at Cardano is still working on the underlying technology. Like all blockchain networks, Cardano has its own native digital currency – ADA.

As such, when you invest in Cardano, you will be doing so by purchasing ADA tokens from an online exchange or broker. According to various reports, Cardano transaction fees amount to 0.16 ADA. As of writing, this amounts to less than $0.15 oper transfer – which is the case irrespective of the size of the transaction.

Another thing to note about Cardano is that the blockchain protocol supports the execution and deployment of smart contract technology. In a similar nature to Ethereum and Solana, this allows people to enter into agreements without needing to trust each other, and the smart contract is transparent and deployed solely on pre-defined code.

Is Cardano a Good Investment?

Cardano is just one of over 18,000+ cryptocurrencies that you can trade online. And as such, it’s a good idea to ensure you are well versed on what ADA tokens can offer for your short or long-term investment objectives.

In this section, we’ll explore whether or not Cardano is a good investment for 2022.

Is Cardano a Good Investment?

According to CoinMarketCap, Cardano launched its ADA onto public crypto exchanges in late 2017 at an initial price of $0.026. This means that at this entry point, a $1,000 investment would have got you over 38,000 ADA tokens.

• Just under four years later in September 2021, Cardano hit an all-time high of $3.10.
• This represents growth of nearly 12,000%. As such, had you invested $1,000 into Cardano back in 2017, at this pricing level your capital would have been worth nearly $120,000.

So how does this compare to other digital currencies? Well, over the same Bitcoin went from a price of $4,300 to $68,000 – so that’s an upside of 1,400%.

Ethereum managed gains of approximately 1,200% over the same period. As such, based on the aforementioned figures, Cardano has performed better than the industry’s two dominant projects.

Cardano Could be Heavily Undervalued at Below $1

We mentioned above that in late 2021, Cardano hit an all-time high of $3.10. However, as of writing in early 2022, the digital currency has since dropped below the $1 level.

This represents a decline of at least 67%. With that said, this decline in valuation isn’t exclusive to just Cardano. On the contrary, the entire cryptocurrency market has been stuck in a bearish cycle since the end of 2021.

And as such, if you’re here reading this guide and Cardano is still priced at less than $1 per token, this arguably represents a huge discount.

Proof-of-Stake Consensus Mechanism

Another benefit of investing in Cardano is that the underlying technology utilizes a proof-of-stake consensus model.

This means that just like Bitcoin and Ethereum, the Cardano network is able to validate transactions without requiring a third-party intermediary.

However, unlike Bitcoin and Ethereum – which utilize proof-of-work, the Cardano network is a lot more efficient. This means that it doesn’t need to consume vast amounts of energy to function.

And, as mentioned earlier. Cardano’s proof-of-stake framework is faster, more scalable, and cheaper than its proof-of-work counterparts.

Low Token Price

Many investors also like Cardano for its low token cost price. After all, the most that this popular digital currency has ever been worth is just $3.10 per token. And, at this pricing level, an investment of $1,000 would get you approximately 322 ADA.

In comparison, the all-time high of Bitcoin and Ethereum stands at approximately $68,000 and $5,000 respectively. And as such, by interesting $1,000 into these projects, you would only be able to buy a small fraction of one token.

Partnerships With Academia  

Cardano is well known for its application for academic research. And as such, when the project is in the process of considering new updates or changes, Cardano often relies on peer-reviewed academic papers.

This in itself offers Cardano a seal of approval, as network developments are essentially signed off by industry experts.

Cardano Price?

The price of Cardano is dependent on buying and selling pressure in the open marketplace. As such, its value is derived much the same as any other asset.

However, we should note that like most altcoins, there is a strong correlation between the price of Cardano with that of Bitcoin. This means that when Bitcoin performs well, this often has a positive knock-on effect for Cardano.

In terms of how to track the price of Cardano, CoinMarketCap offers real-time data from hundreds of exchanges and brokers.

Cardano Price Prediction

If you’re looking for Cardano price predictions with the view of determining the future value of ADA, perhaps a good target point is the previous $3.10 that it hit in late 2021. And, if you are able to buy Cardano at sub-$1, this offers an upside potential of at least 200%.

However, there is no knowing which way the price of Cardano will go, especially when you consider how much competition it has in the broader blockchain and smart contract spaces. For instance, the likes of Solana is arguably a more efficient blockchain – especially when it comes to fees and scalability.

Read our more detailed comparison of different Cardano price predictions here.

Ways of Buying Cardano

There are many ways that you can buy Cardano online in terms of supported payment methods.

Consider the options outlined below when thinking about the best way to buy Cardano from the comfort of your home.

Buy Cardano With Credit Card or Debit Card

The easiest way to buy Cardano is with a credit/debit card. This will allow you to invest in ADA tokens instantly – once you have opened an account with a suitable exchange and verified your identity.

However, be sure to check what debit/credit card fees apply at your chosen platform, as the industry average is 3-5%. For instance, Coinbase charges 3.99% when you buy Cardano with a credit/debit card.

You can, however, deposit funds with both Visa and MasterCard at eToro without paying any fees – on the proviso, your card is denominated in US dollars.

Buy Cardano With Paypal

eToro also allows you to buy Cardano with Paypal, alongside alternative e-wallets like Neteller and Skrill. USD deposits with all supported e-wallets are fee-free.

Best Cardano Wallet

Cardano tokens need to be stored in a cryptocurrency wallet that supports ADA. There are many types of Cardano wallets on the market – all of which offer varying levels of security and convenience.

The first thing to consider is whether you wish to use a hot or cold wallet. The latter refers to hardware wallets that are kept offline at all times, so security is extremely good.

But, cold wallets can make the process of sending and receiving ADA tokens cumbersome, as you need access to the respective device.

This is why hot wallets are a lot more suitable when storing Cardano tokens. eToro, for example, offers a mobile wallet that comes via an iOS and Android app. The wallet not only allows you to store Cardano safely, but also plenty of other cryptocurrencies.

And, within the wallet app, you can buy, sell, and trade Cardano at the click of a button. Most importantly, the eToro wallet is licensed by the Gibraltar Financial Services Commission.

How to Buy Cardano – Tutorial

The step-by-step guide below will show you how to buy Cardano online in less than five minutes via eToro.

As we covered earlier, eToro supports fee-free US dollar deposits when using a debit/credit card, Paypal, and bank transfer. Plus, you only need to outlay $10 to buy Cardano at this regulated broker.

Step 1: Register an Account 

Open a free account on eToro.com to get the Cardano investment process started. You will need to choose a username and a password, before entering your name, email address, and cell phone number.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Additional personal information will need to be entered after clicking on the ‘Create Account’ button.

Moreover, you will also need to go through a quick identity verification process, which requires a copy of your ID. From start to finish, it shouldn’t take you more than five minutes to open an eToro account.

Step 2: Deposit Funds  

You will now need to add some funds to your eToro from $10 upwards.

Choose from:

• Paypal
• Debit Card
• Credit Card
• Skrill
• Neteller
• ACH
• Bank Wire

Once again, assuming that you are depositing funds in USD, no fees will be charged.

Step 3: Search for Cardano 

In the search bar, start typing ‘Cardano’.

Then, when ADA appears, click on ‘Trade’.

Step 4: Buy Cardano  

Think about how much you want to invest in Cardano and enter the amount in the relevant box.

To place your Cardano investment, click on ‘Open Trade’. eToro will then deduct the USD amount from your balance and add the ADA tokens to your portfolio.

How to Sell Cardano 

If you withdraw Cardano to a private wallet and wish to cash out, you first need to transfer your ADA tokens to a suitable exchange. 

With that said, if you bought Cardano at eToro, you can cash out your ADA tokens for US dollars by simply logging in and placing a sell order.

Alternatively, you might be interested in earning interest on your Cardano holdings. For more details read our full guide here.

Conclusion 

In summary, you can buy Cardano from the comfort of your home from just $10 when using eToro. This platform charges no fees on USD deposits and withdrawals, and when buying Cardano, you only need to pay the spread.

Most importantly, eToro is regulated by a variety of tier-one bodies – so you can invest in Cardano safely.   

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

FAQs on Buying Cardano