A Step-by-Step Guide on How to Buy Cardano (ADA)

If you're new to the world of cryptocurrency, you may find yourself spinning. With so many cryptos and so much information to take in, it's easy to get lost in the fold. Don't let this stop you, as you may be missing out on a golden opportunity.

A Step-by-Step Guide on How to Buy Cardano (ADA)

Cryptocurrency is here to stay and it's worth taking the time and effort to learn about this new emerging technology. One cryptocurrency to note is Cardano, which operates using Proof-of-Stake (PoS).

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You may have seen this crypto pop up in your news feed. If you'd like to learn how to buy Cardano and see what all the fuss is about, read our guide below.

  1. Exchange

Head here to buy Cardano from an exchange. This is the first step you'll need to familiarize yourself with when learning how to buy Cardano.

You want to take note of the top-notch security and fees. If you're new to the game, a user-friendly crypto exchange is your best bet. In a nutshell, an exchange connects a buyer and seller with an agreed-upon price.

  1. Sign Up

You'll need to sign up for an account on the exchange.

To register for an account, you'll need to enter some required information first. To start trading today, you'll need to provide your e-mail address and password. If you have a referral code, you can enter that as well.

It is well-advised to add an additional layer of security for when you log in to your account. This will mean setting up a 2FA (two-factor authentication). This is to prevent any hackers or bad actors from gaining access to your account.

  1. Verify Your Identify

Once you've created an account, you'll need to verify your identity. This is to adhere to KYC regulations and prevent illegal activities such as laundering money or other scams.

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This means that you'll need to provide your social security number, address, date of birth, and some form of identification.

  1. Investment Strategy

Why should you buy ADA in the first place? Is investing in Cardano the right move for your portfolio?

As a dApp (decentralized application) platform, Cardano takes a more academic approach in its development process. They do this by partnering with universities and academics. Their code upgrades undergo mathematical standards and review processes.

The attraction stems from Cardano's scientific foundation. As an investor, you see this is as a strong suit that will aid in advancing and adopting the tech. When you buy the Cardano cryptocurrency, you will be a part of the expanding network with the ability to vote on software changes too.

Other reasons to purchase ADA are to use take advantage of its dApp ecosystem, diversification, and profits.

  1. Buy Cardano

Now it's time to learn how to buy Cardano! To do so, you'll need to use some sort of payment methods such as an ACH bank transfer, debit or credit cards, or PayPal.

Keep in mind that a bank transfer to exchange may take a few business days. In general, you won't have to pay a fee to deposit cash into your account. When you buy the Cardano cryptocurrency, you will have to pay a fee though.

Once you have successfully deposited fiat in your account, decide how much you'd like to spend. Before purchasing ADA, the exchange will tell you how much Cardano you'll receive and what fees are tacked on. If everything looks good, go ahead and buy!

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It is important to note that you never want to leave your crypto on an exchange. Remember the mantra: not your keys, not your crypto. You'll want to send your newly acquired ADA to a non-custodial wallet or hardware wallet to keep your crypto safe.

Now You Know How to Buy Cardano

Congratulations! You have successfully learned how to buy Cardano. That wasn't so hard, was it?

Before you decide to buy Cardano or any cryptocurrency, it's important to do your own research. This means to read their whitepaper, head to Crypto Twitter, and Discord.

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To stay in the loop of the crypto market, be sure to keep an eye out on our blog.