Cardano (ADA) Buying instructions | Paypal, Credit Card & SEPA
You've heard about Cardano and want to invest in this crypto currency? But you are not quite sure where to buy Cardano and how to store it? Don't worry, we have 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 crypto currency exchanges since October 2017. At the time of the IPO, the company did not even have a functioning product. At the beginning, the crypto currency was traded for only two cents per coin.
However, Cardano got such a strong hype in 2018 that the Cardano price in the meantime was over one Euro per ADA-Coin. Since then, the entire crypto currency market has suffered a slump, so that at the time of writing Cardano has fallen to just one cent per coin. Where now some see the end for Cardano, others see the possibility to buy ADA-Coins at a bargain price.
BC1 is constantly looking for potentially growing projects that have not yet been discovered by the masses and for us, Cardano is definitely a very interesting crypto currency at the moment.
Nobody knows exactly when one should invest in a crypto currency. This question is often asked, but a clear answer cannot be given. The future course of a market or a stock in general can be calculated with a formula, but what really happens in the end is written in the stars. We at Bitcoin-News.one are convinced that a rising crypto-currency market could help Cardano reach new highs.
How high is Cardano's potential?
Most people know that Cardano builds a super fast public blockchain, which makes it possible to build decentralized applications on it. Thus Cardano is in indirect competition with Ethereum.
What many people do not know, however, is that Cardano is trying to find a way for different crypto currencies to communicate with each other. Cardano has the potential to be the link that holds the entire crypto-currency world together.
Cardano also strives to build the bridge between the crypto-currency world and the traditional financial systems. They intend to do this by giving users the possibility to choose a transaction option that complies with all banking regulations. This should not only facilitate the introduction of crypto-currencies into everyday life, but also make it easier for traditional financial institutions to enter the crypto-world.
All this means that Cardano, if it successfully achieves its goals, could be of much more benefit than Ethereum. Should Cardano achieve this, it would not be far-fetched to think that Cardano will also be more valuable than Ethereum or even Bitcoin in the future.
We believe that the crypto currency market is just one major event away from further incredible growth. If this further growth of the crypto-currency market occurs, then ADA-Coin will also reach new highs.
How to buy Cardano: Our 2 favourite 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 Cardano is for people who want to buy with a regular currency like Euro. Here you should know that it is incredibly difficult to buy ADA coins directly with such a Fiat currency. Instead, you need to exchange your Fiat currency for Bitcoin or Ethereum and then trade it 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 enter the crypto currency market.
For those who already have Bitcoin or Ethereum You already have the currency which is essential for the Cardano purchase and can therefore simply skip the next steps via Coinbase. We will then explain how to trade on the Binance crypto exchange.
Create a free account at Coinbase
- History: Coinbase was founded in 2012 and is the world's most popular crypto currency exchange.
- Investors: Coinbase has strong investors like the venture capital company IVP, the New York Stock Exchange and other companies.
- Simple: Coinbase is known and loved for its easy to use interface.
- Minimum deposit: You can already invest with amounts from 6€ in crypto currencies on Coinbase.
- Regulated: Coinbase is one of the few crypto currency exchanges that's regulated.
- Insurance: Client funds are insured and segregated.
- Deposit methods: credit/debit card, bank transfer and PayPal for US customers
- Tradable crypto currency: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin
Now the first step is done and we are ready to buy our crypto currencies. If you've been sniffing around on Coinbase, you might be wondering, where do I find the ADA-Coins now? Cardano itself is not directly available at Coinbase. To get ADA, we first have to buy Bitcoin or Ethereum on Coinbase and then send these coins to a stock exchange to buy ADA with BTC or ETH.
The fastest way to purchase BTC or ETH on Coinbase
- Go to the buy/sell page in 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 payment or bank transfer. One factor that can be crucial in your decision is how much you need your crypto currency. A bank transfer has lower deposit fees, but on average it takes between 2 and 5 days for your crypto currency to be credited to your Coinbase account.
- Option 2: You can deposit money with a credit or debit card. You pay a fee of about 3%, but receive your coins directly.
Both methods are easy to use and ensure that your money lands safely on 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 mail from Coinbase Inc. and your account has been charged, you can choose between the listed crypto currencies in the section "Buy/Sell" which one you would like to have most.
- Enter the amount for which you would like to buy Bitcoins, for example.
- Now choose as payment method your Euro-Wallet, into which you have previously deposited money either by bank transfer or credit card payment.
- Complete your order by clicking on "Buy".
Do you want to buy crypto currencies on Coinbase even cheaper?
Then take a look at our Coinbase Guide. 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 money with every single purchase, trade or sending of Coins.
Once your chosen crypto currency is in your Coinbase wallet, we can move on to the next step. Now we send the crypto currencies you have just bought to another exchange and exchange them there for Cardano.
Setting up an ADA Wallet
The official Cardano Wallet is called Daedalus Wallet and was developed by the Cardano Team. We at BC1 believe that this is the best option for storing your ADA coins. We've even created an article that shows 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, Binance is not only the most popular crypto exchange in the world, but has had an incredible Cardano trading volume in the past. The exchange is also a popular place to trade/trade with crypto currency investors due to its user-friendly design, first-class customer communication and its wide selection of Altcoins.
Security on Binance is also an important factor. Binance was the first exchange to undergo a complete review of all its smart contracts. Such moves have led to Binance showing competitors the right way to make the world of crypto currencies more secure and transparent. With over 60% of the total Cardano trading volume, Binance is undisputedly our favourite exchange for buying Cardano (ADA).
Details about Binance:
- Top exchange for Altcoins: High trading volume and a large selection of Altcoins.
- Beginner-friendly: Simple layout and user interface, ideal for crypto novices!
- Wide selection: Provides access to over 100 crypto currencies.
- Mobile app: Binance offers both Android and iOS applications.
Do you need more help getting started in Binance? Simply read our Binance setup guide.
Crypto currency transfer from Coinbase to Binance
Now we are ready for those from Bitcoin, Ethereum, etc. to Binance. No matter if you have crypto currencies on Coinbase or in another wallet, the possibility to send your cryptos to another wallet should be almost the same on every platform.
- Log in to your Binance account.
- Select "Balance" and click on "Deposit" for the crypto currency you wish to deposit from Coinbase (or other exchange).
- Make sure that you only select Ethereum if you want to transfer Ethereum. If you send the wrong crypto currency to the wrong wallet, you could lose your money.
- You will now see your inpayment address for Binance. Copy this address.
- Now log in to Coinbase and go to the "Accounts" tab.
- Click the "Send" button for the crypto currency you want to send.
- Enter your Binance inpayment address in the "Recipient" address field and enter the amount you wish to withdraw.
- Click on "Next" and complete the transaction. Your crypto currency (e.g. Ethereum) should appear in your Binance account shortly.
If you have your crypto currencies on Coinbase Pro, then you must also first copy the wallet address to Binance. Back on Coinbase Pro go to the field "Credit" and select the crypto currency you want to transfer. Again, make sure you have copied the correct address and then visit the Coinbase Pro website to start the transaction.
Now select the "Payout" option on the left side of the screen. Once you have done this, a pop-up with a drop-down menu will appear. Select the crypto currency you wish to move to Binance.
Now is the time to buy cardano coins. You can simply follow the following 3 steps and soon we will have our first Cardano-Coins.
- Make sure that you are logged in to your account and go to the Binance homepage. Here you should see a selection of crypto currency 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 select the ADA/BTC or ADA/ETH market.
- You will now see a trading screen. Select the "Market" tab to buy ADA Coins at the market price. Now enter the number of coins you wish to buy or use the option to invest a certain percentage of your finance balance.
- Click "Buy ADA" to complete your order and your new crypto currency will be credited to your account.
Transfer Cardano to another wallet
Now that we finally own Cardano, the next thing you should ask yourself is where do you keep your ADA coins? Although we are convinced by Binance, the BC1 team recommends that you store your Cardano coins in the Daedalus Wallet you have set up.
A question that may now arise: "Why should I bother storing crypto currencies outside of stock exchanges?" The main reason is that stock exchanges are often targets of hackers. This is not very surprising, considering how much money is in circulation here.
If you do not 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 in to your Binance account.
- Click on "Credits" in the upper navigation bar and select "Withdrawals".
- Select ADA from the drop-down list. Paste the Cardano Wallet public address you just copied into the ADA Withdrawal Address field. Once you have entered the number of ADA coins you wish to withdraw, click the "Send" button and your coins will be sent to your wallet.
The BC1 team can hardly wait to see what the Cardano team will produce in the future. We have a feeling that this could be an ever-changing crypto currency. The hope of the project is that Cardano will not only challenge Ethereum as a world-class application development platform, but also hold together the connection of the different crypto currencies.
We also find it admirable that Cardano focuses on linking the traditional financial system with the new crypto world and actively strives to comply with banking regulations. This could hopefully contribute to the general introduction of crypto-currencies and, if done correctly, ensure that Cardano will continue to 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 written in the stars. But the complicated methods Cardano uses to manufacture its product should give them a good chance of success. After all, the project's founder, Charles Hoskinson, is one of the most respected people in crypto currency. After co-founding Ethereum and Bitshares, Cardano could become a new market leader project of his.