Cardano (ADA) Buy Instructions | Paypal, Credit Card & SEPA
Have you heard of Cardano and want to invest in this cryptocurrency? However, not entirely sure where to buy Cardano and how to store it? Don't worry, we've done the research for you and will now show you how to do it.
When is the right time to buy Cardano?
Cardano (ADA) has been tradable on cryptocurrency exchanges since October 2017. At the time of going public, the company didn't even have a working product. At the beginning, the cryptocurrency was traded for just two cents per coin.
However, Cardano got such a strong hype in 2018 that the Cardano price was now over one euro per ADA coin. Since then, the entire cryptocurrency market has taken a plunge, with Cardano dropping to just a cent per coin at the time of writing. Where some see the end for Cardano, others see the opportunity to purchase ADA coins at a bargain price.
BC1 is constantly on the lookout for potentially growing projects that have not yet been discovered by the masses and for us Cardano is definitely a very interesting cryptocurrency at the moment.
Nobody knows exactly when to invest in a cryptocurrency. This question is asked a lot, but there is no clear answer. The future course of a market or a share in general can be calculated with a formula, but what actually happens in the end is in the stars. We at Bitcoin-News.one are convinced that a rising cryptocurrency market could help Cardano to new highs.
How great is the potential of Cardano?
Most people know that Cardano is building a super fast public blockchain that allows decentralized applications to be built on top of it. Cardano thus faces indirect competition Ethereum.
What many people don't know, however, is that Cardano is trying to find a way how different cryptocurrencies can communicate with each other. Cardano has the potential to be the link that holds the entire cryptocurrency world together.
Cardano also strives to create the bridge between the cryptocurrency world and traditional financial systems. They intend to do this by giving users the option to choose a transaction option that complies with all banking regulations. This should not only facilitate the introduction of cryptocurrencies into everyday life, but also make it easier for traditional financial institutions to enter the crypto world.
All of this means that if Cardano successfully pursues its goals, it could be of significantly more use than Ethereum. Should Cardano achieve this, then it would not be far-fetched to think that Cardano will also be more valuable than Ethereum or even more in the future Bitcoin will be.
We believe the cryptocurrency market is only one big event away from further incredible growth. If there is this further surge in the cryptocurrency market, then the ADA coin will also hit new highs.
How to Buy Cardano: Our 2 Favorite Types Explained
The best place to buy Cardano depends on whether you already have Bitcoin or Ethereum, which you can exchange for ADA coin.
The first way to get to Cardano is for people who want to buy with a regular currency such as euros. Here you should know that it is incredibly difficult to buy ADA coins directly with such fiat currency. Instead, you need to swap your fiat currency for Bitcoin or Ethereum and then trade those for Cardano on another exchange.
Our preferred platform to buy Bitcoin or Ethereum with regular currency is eToro. The BC1 team believes that eToro is the easiest way to get into the cryptocurrency market.
However, in this tutorial we explain how to buy Cardano Coinbase and Binanceas these are the most famous Crypto exchanges are. Nevertheless, we recommend buying from eToro Cardano, as the conditions here are far better than those at Coinbase and Binance (you pay far fewer fees).
Create a free account with Coinbase
- History: Coinbase was founded in 2012 and is the world's most popular cryptocurrency exchange.
- investors: Coinbase has strong investors such as venture capital company IVP, the New York Stock Exchange, and more.
- Easy: Coinbase is known and loved for its easy to use user interface.
- Minimum deposit: You can already invest in cryptocurrencies on Coinbase with amounts from € 6.
- Regulated: Coinbase is one of the few cryptocurrency exchanges that is regulated.
- Insurance: Client funds are insured and segregated.
- Deposit methods: Credit / Debit Card, Wire Transfer and PayPal for US customers
- Tradable cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin
Now the first step is done and we are ready to buy our cryptocurrencies. If you've sniffed something on Coinbase, you may be wondering where can I find the ADA coins? Cardano itself is not available directly from Coinbase. To get ADA, we first need Bitcoin or Ethereum on Coinbase and then send these coins to an exchange to buy there with BTC or ETH ADA.
The fastest way to buy BTC or ETH on Coinbase
- Go to the Buy / Sell page on your account.
- Add a payment method to your Coinbase account.
- You can now choose between different deposit methods. As a European, you can currently choose between two payment methods: credit card payments or bank transfer. One factor that can be decisive in making a decision is how badly you need your cryptocurrency. A bank transfer has lower deposit fees, but on average it takes between 2 and 5 days for your cryptocurrencies to be credited to your Coinbase account.
- Option 2: You can deposit funds with a credit or debit card. You pay a fee of around 3%, but receive your coins directly.
Both methods are easy to perform and ensure that your money lands safely in your Coinbase account. After the deposit you will receive an email informing you when your deposit was successful.
- As soon as you have received the confirmation email from Coinbase Inc. and your account has been topped up, you can choose from the listed cryptocurrencies in the "Buy / Sell" section the one that you want most.
- Enter the amount for which you want to buy bitcoins, for example.
- Now select your euro wallet as the payment method, into which you have previously deposited money either by bank transfer or credit card.
- Complete your order by clicking "Buy".
Do you want to buy cryptocurrencies even cheaper on Coinbase?
Then check out ours Coinbase Guide at. Here we show you how you can send your funds to the subsidiary Coinbase Pro with a little more effort. On Coinbase Pro you can save fees on every single purchase, trade or sending of coins.
As soon as your selected cryptocurrency is in your Coinbase wallet, we can move on to the next step. Now we send the cryptocurrencies we just bought to another exchange and exchange them for Cardano.
Set up an ADA wallet
The official Cardano wallet is called Daedalus Wallet and was developed by the Cardano team. At BC1, we think this is the best option to store your ADA coins. We even made an article to show you how to set this up.
Invest in Cardano with Binance
By now you should have Bitcoin or Ethereum on Coinbase and have set up your Daedalus wallet. The next step is to set up the Binance account, where we can finally buy Cardano. On Binance we will exchange our Bitcoin or Ethereum coins for ADA coins.
Why did we choose Binance as the first place to invest in Cardano? Well, in addition to being the most popular crypto exchange in the world, Binance has had incredible Cardano trading volume in the past. The exchange is also popular with cryptocurrency investors due to its user-friendly design, first-class customer communication and wide range of options Altcoins a popular place to trade / trade.
Security is also an important factor on Binance. Binance was the first exchange to undergo a full review of all of its Smart Contracts has undergone. Such moves have resulted in Binance showing competitors the right way to make the world of cryptocurrencies safer and more transparent. With over 60% of the total Cardano trading volume, Binance is undisputedly our favorite exchange to buy Cardano (ADA).
- Top exchange for altcoins: High trading volume and large selection of altcoins.
- Beginner friendly: Simple layout and user interface, ideal for those new to crypto!
- Large selection: Provides access to over 100 cryptocurrencies.
- Mobile app: Binance offers both Android and iOS applications.
Need more help getting started with Binance? Just read our Binance setup instructions.
Cryptocurrency transfer from Coinbase to Binance
Now we are ready for the Bitcoin, Ethereum, etc. to Binance. Regardless of whether you own cryptocurrencies on Coinbase or in another wallet, the ability to send your cryptos to another wallet should be almost the same on every platform.
- Sign into your Binance account.
- Select "Credit" and click on "Deposit" for the crypto currency that you want to deposit from Coinbase (or other exchange).
- Make absolutely sure here that you only choose Ethereum if you also want to transfer Ethereum. If you send the wrong cryptocurrency to the wrong wallet, you could lose your money.
- You will now see your deposit address for Binance. Copy this address.
- Now log into Coinbase and go to the "Accounts" tab.
- Click the "Send" button for the cryptocurrency you want to send.
- Paste your Binance deposit address into the "Recipient" address field and enter the amount you wish to withdraw.
- Click "Next" and complete the transaction. Your cryptocurrency (e.g. Ethereum) should appear in your Binance account shortly.
If you have your cryptocurrencies on Coinbase Pro you have to copy the wallet address to Binance first. Back at Coinbase Pro, go to the "Balance" field and select the cryptocurrency you want to transfer. Again, make sure you have copied the correct address and then visit the Coinbase Pro website so you can start the transaction.
Now select the "Withdrawal" option on the left side of the screen. Once you do, a pop-up will appear with a drop-down menu. Select the cryptocurrency you want to move to Binance.
Now is the time to buy Cardano Coins. You are welcome to simply follow the 3 steps below and we will soon have our first Cardano coins.
- Make sure you are logged into your account and go to the Binance homepage. Here you should see a selection of cryptocurrency markets. Select the option "BTC Market" if you have transferred Bitcoin to Binance and "ETH Market" if it is Ethereum. Then enter "ADA" in the search bar. Here you choose the ADA / BTC or ADA / ETH market.
- You will now see a trading screen. Select the "Market" tab to buy the ADA coins at the market price. Now enter the number of coins you want to buy or use the option to invest a certain percentage of your Binance credit.
- Click "Buy ADA" to complete your order and your new cryptocurrency will be credited to your account.
Transfer Cardano to another wallet
Now that we finally own Cardano, the next thing you should be wondering is where to keep your ADA coins? Although we are convinced of Binance, the BC1 team recommends that you keep your Cardano coins in the Daedalus wallet you have set up.
A question that may now arise: "Why should I bother to store cryptocurrencies outside of exchanges?" The main reason for this is that exchanges are often targets of hackers. This is not particularly surprising considering the amount of money floating around here.
If you don't want to take the risk of losing your ADA coins and want to transfer them to your private Daedalus wallet. Then we have summarized the most important steps for you:
- Copy your public address from your Daedalus wallet.
- Log into your Binance account.
- Click on "Balance" in the top navigation bar and select "Payouts".
- Select ADA from the drop-down list. Paste the public address of the Cardano wallet you just copied into the "ADA withdrawal address" field. Once you have entered the number of ADA coins you wish to withdraw, click the "Submit" button and your coins will be sent to your wallet.
The BC1 team can't wait to see what the Cardano team will produce in the future. We have a feeling that this could be an ever-changing cryptocurrency. The hope of the project is that Cardano will not only challenge Ethereum as a world-class application development platform, but also hold the connection of the various cryptocurrencies together.
Likewise, we find it admirable that Cardano is focused on linking the traditional financial system with the new crypto world and actively seeking compliance with banking supervision. Hopefully this could contribute to the general adoption of cryptocurrencies and, if done correctly, ensure that Cardano will play a key role in the crypto world for many years to come.
Will Cardano meet the expectations of investors and the crypto community? The answer is in the stars. However, the complicated methods Cardano uses to make its product should give them a good chance of success. The project's founder, Charles Hoskinson, is one of the most respected people in cryptocurrency after all. After co-founding Ethereum and Bitshares, Cardano could become a new market leader project of his.