Did you know that Cardano was created by the same person who co-founded Ethereum? Well, it was! Anyway, if you’re looking to learn how to buy Cardano and get an ADA wallet to match, you’re in the right place!
The first part of my "How to buy Cardano" guide is going to tell you a bit about what Cardano (ADA) is before showing you how and where to buy it (spoiler alert, you can do it on Binance, Bybit, and other top exchanges).
We’ll then move on to how to get an ADA wallet so that you can store your Cardano after purchasing it. That said, let's get started!
Carlos Diaz
PhD Researcher in Business Innovation at RMIT University
How might Web3 technologies contribute to democratization?
Web3 may contribute to democratization by eliminating intermediaries and enabling direct user participation. This adds to the tokenization of valuable assets and the automation of operations via smart contracting. Altogether Web3 enables new affordances to participants to exchange bi-directionally through Peer-to-Peer dynamics, and create their own community solutions.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
How to Trade NFTs Safely? (Animated Explainer For Beginners)
Table of Contents
- 1. Roots of Cardano
- 2. Where to Buy Cardano
- 2.1. Binance
- 2.2. KuCoin
- 2.3. Gate.io
- 2.4. HitBTC
- 2.5. Bittrex
- 3. How to Buy Cardano
- 3.1. Open an Account on Binance
- 3.2. Buy Cardano on Binance
- 3.3. Deposit Funds Into Binance
- 3.4. Trade Cardano on Binance
- 4. Where to Store Cardano (How to Get an ADA Wallet)
- 5. Conclusion
Roots of Cardano
Cardano was launched in 2017 by a foundation called Input-Output Hong Kong (IOHK), led by Charles Hoskinson.
Latest Deal Active Right Now:
$30,000 IN REWARDS
Bybit Black Friday Deal
Use Bybit referral code 43654 & claim up to $30,000 in Black Friday welcome rewards. Sign-up to one of the biggest crypto exchanges now!
They wanted to create a blockchain that was capable of outperforming older blockchains like Bitcoin and Ethereum, which the founders call first and second-generation blockchains.
The ultimate objective is to create a platform that can act as a global payment system and dApp network by processing really fast, cheap and scalable transactions.
The team is developing a protocol that will have the ability to process cross-chain smart contracts and build a bridge between the crypto-finance and traditional finance worlds.
People sometimes get confused about the difference between Cardano and ADA, so let me clear it up. The name of the blockchain that processes and stores transactions is Cardano, whilst the name of the cryptocurrency is ADA. It’s as simple as that!
To learn more about the project of Cardano itself, check out this "What is Cardano and What is It Used For" guide.
Where to Buy Cardano
I’ll show you where to buy Cardano before showing you how to buy it. So, if you’re already set on where you’re going to buy it from, just skip to the "How to Buy Cardano" section.
As you probably know, there are now hundreds of different cryptocurrency exchanges on the market, each with its own pros and cons.
That is why I thought it would be a good idea to go through all of the advantages and disadvantages of each exchange that I have reviewed, so you can decide for yourself which one best suits your needs! Let’s start with Binance.
Binance
Although Binance only launched in 2017, it is now the largest exchange in the world based on the daily trading volume. One of its greatest advantages is that it lists well over 500 different cryptocurrencies, and it is often the first exchange to list a new popular coin after it has finished its ICO.
Interestingly, Binance is responsible for well over $145 billion of transactions each day. One of the reasons for that could be the fact that it allows users to deposit and withdraw crypto using traditional payment methods such as debit/credit cards or bank transfers.
Plus, you will not be charged when depositing crypto into your account and withdrawing Cardano will only cost 0.8 ADA coin (if you're using the Cardano network), which is very reasonable. When it comes to trading fees, these are also low, starting at just 0.1% for each trade on the spot market.
| BINANCE | |
|
|
| Buying, Trading, and Holding a Wide Variety of Cryptocurrencies | |
| Turkey, Russia, Argentina, Vietnam, Ukraine, + 40 more | |
| All Binance Coupons | |
| One of the leading crypto exchange platforms in the industry. | |
|
Visit site
Read review |
|---|
Table: Main information about Binance.
The Binance exchange offers users both basic and advanced versions, which makes it perfect for beginners, as well as more experienced traders.
Binance has a very good record in keeping its users safe, implementing safety measures like two-factor authentication (2FA) for users, real-time monitoring of suspicious activities, and IP-focused access control, among others. To help keep your account secure, it is well worth using their Google Authenticator feature, which will require you to enter a mobile code every time you log in.
Finally, when it comes to customer service, there are three ways to contact the Binance team. There is a live chat facility, email support or you can submit a ticket.
Below, I have listed the overall advantages and disadvantages of buying Cardano from Binance. If you want to read more about the platform, check out this Binance review.
| PROs | CONs |
|
|
Table: Pros and cons of Binance.
So, now that you have a good understanding of what Binance can offer you, in the next part of my “How to buy Cardano” guide, I'm going to review KuCoin!
KuCoin
KuCoin was created in May 2017 by a group of specialists who previously worked on projects such as Ant Financial and iBox PAY.
KuCoin is a very easy-to-use platform that is recommended for those who are looking for the easiest way to purchase Cardano. The KuCoin app is available on both Android and iOS, and is definitely suitable for beginners.
| KUCOIN | |
|
|
| Best for Buying & Selling Crypto with Small Fees | |
| United Kingdom, India, Russia, Mexico, + 150 more | |
| All KuCoin Coupons | |
| A reliable and well-established cryptocurrency exchange platform. | |
|
Visit site
Read review |
|---|
Table: Main information about KuCoin.
KuCoin supports around 850+ cryptocurrencies and more than 1,600+ trading pairs. The platform offers low fees and great products, such as spot trading, margin trading, futures trading, KuCoin Earn, staking, and even lending. These features are recommended for more advanced users.
KuCoin comes with strong security measures, too. However, it's still recommended to keep your assets in a secure hardware wallet like Ledger Nano X or Trezor Safe 5.
Learn more about the platform in this KuCoin review.
| PROs | CONs |
|
|
Table: Pros and cons of KuCoin.
If you're a US-based trader, consider checking out such exchanges as Kraken or Coinbase to buy ADA.
Gate.io
Created in 2013, Gate.io is one of the more popular options people turn to when searching for where and how to buy Cardano. The platform lists more than 2,100+ cryptocurrencies to trade, many of which are less popular altcoins that are sometimes difficult to find elsewhere.
One of the best features of using Gate.io is that it is one of the most user-friendly exchanges available, with clear and crisp colors making it easy to navigate. Although their trading volumes are lower than the likes of Binance, there is still a good amount of liquidity available on Gate.io.
| GATE.IO | |
|
|
| Beginners | |
| United Kingdom, Russia, Morocco, Egypt, India, + 180 more | |
| See All Coupons of Best Exchanges | |
| One of the oldest crypto exchanges with a wide selection of crypto assets and features. | |
|
See TOP10 Brands
Read review |
|---|
Table: Main information about Gate.io.
It is not possible to fund your account using fiat currency, which means you will need to deposit using a cryptocurrency, which is free. Trading fees amount to 0.1% for both makers on and takers; however, they can be reduced when you trade larger amounts and increase your VIP level.
According to the Gate.io fee structure, you will only pay 0.948 ADA coins to withdraw your Cardano, which is a relatively low.
While it did have a security breach in the past, as of writing, Gate.io's security looks good. Users are offered the opportunity to set up two-factor authentication. Gate.io also uses cold storage to store the majority of customer funds, which adds an extra layer of security. Plus, its hot wallet is protected by a professional service provider, HSM.
Regarding customer service, Gate.io didn't have a live chat or phone support in the past, so you needed to submit a ticket through your online account, or send a message on Telegram. Though, now, you can use its live chat support option as well.
| PROs | CONs |
|
|
Table: Pros and cons of Gate.io.
You can read more about Gate.io in this review.
HitBTC
Based in Estonia and launched in 2013, HitBTC has been around for a lot longer than Binance. The platform allows users to buy and sell more than 1,000 different cryptocurrencies, including Cardano.
One of the advantages of buying ADA coins from HitBTC is that the exchange allows you to buy crypto using a range of payment methods, including Visa, MasterCard, ApplePay, and other payment services. Keep in mind that HitBTC does not support fiat deposits and withdrawals, though.
So, if you prefer the convenient traditional methods for deposits and withdrawals, top-tier exchanges that list Cardano, like Bybit and Kraken, support numerous fiat currencies.
| BYBIT | KRAKEN | |
|
|
|
| More Advanced Users | Best for Beginners | |
| Russia, South Korea, United Kingdom, Ukraine, Turkey, +150 more | United States, Germany, United Kingdom, France, Canada, + 190 more | |
| All Bybit Coupons | All Kraken Coupons | |
| A popular crypto derivatives exchange with some super-low trading fees. | One of the best crypto exchanges. | |
|
Visit site
Read review |
Visit site
Read review |
|---|
Table: The comparison of Bybit and Kraken.
To buy crypto with a credit card on HitBTC, you simply need to create an account, and that’s it. You won’t even need to pass through KYC, which adds a layer of simplicity (although it might come with compliance risks) to deposit your crypto. Although, users who have passed the KYC can withdraw a higher amount of coins or tokens per day.
Depositing and withdrawing with real-world money is quite expensive at HitBTC, with each payment processor charging their own amount. They also make their cryptocurrency withdrawal fee structure quite unclear, however, users have reported that these are also high.
When it comes to trading fees, takers are charged 0.25% for spot/margin trading and 0.7% for futures trading, while the maker pays 0.1% for spot/margin trading and 0.02% for futures trading.
In case you are unaware, the maker is the person who provides the exchange with liquidity (i.e. submits limit orders), and the taker is the person who “takes” the price on offer. The rates can further go down as you increase your trading volume.
The platform is more suited for experienced traders as the interface is not very clear sometimes, so if this is your first time buying cryptocurrency, then it might be best to try another exchange.
A final point to consider is security. The exchange experienced a major hack in 2015, with the bad guys managing to steal lots of coins. However, nothing has happened since it is concerning that the exchange’s servers were not more secure. This is why it is important to withdraw your coins straight to your ADA wallet!
| PROs | CONs |
|
|
Table: Pros and cons of HitBTC.
At the end of the day, I think the first two ADA coin exchanges I've listed (Binance and KuCoin) are better options than HitBTC when searching for where to buy Cardano.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
How do Cryptocurrency Exchanges Work? (Easily Explained!)
Bittrex
Update: Bittrex has filed for bankruptcy in 2024. If you’re looking for alternatives, go for highly reputable exchanges like Bybit or Kraken. Both list ADA in their buy crypto and trading modules. While the former is strong in its derivatives trading, the latter is notable for its compliance with the US authorities.
| BYBIT | KRAKEN | |
|
|
|
|
| One-Click Buy, Launchpad, Derivatives Portal | Crypto Guides, Videos, Podcasts | |
|
Visit site
Read review |
Visit site
Read review |
|---|
Table: The comparison of Bybit and Kraken features.
Bittrex, created in 2014, was a U.S.-based cryptocurrency exchange. They had one of the largest daily trading volumes, meaning that you were never struggling to find liquidity. They listed all of the major coins like Bitcoin, Ethereum and, of course, Cardano, as well as some smaller coins.
Unfortunately, it was not possible to deposit funds to the exchange using traditional payment methods such as a bank account or debit/credit card, so you needed to fund your account using another cryptocurrency. However, this was free, as were crypto withdrawals, so you only needed to pay the blockchain transaction fee.
Unless you were planning on trading really large amounts (the equivalent of 1 BTC/day), you didn't have to submit an ID. If you set up two-factor authentication, then this increased to the equivalent of 3 BTC/day.
Being a U.S.-based exchange, Bittrex took account security very seriously and kept most of its funds in cold storage.
A further disadvantage to using the Bittrex platform was that their customer service options were really limited. There was no live chat or phone support, so you needed to submit a ticket.
| PROs | CONs |
|
|
Table: Pros and cons of Bittrex.
Just don't forget, while Bittrex was a place where you could buy Cardano, it's not anymore.
So, there you have it, some of the best exchanges to buy Cardano on (except for this last option, which is not available anymore). They all have their own advantages and disadvantages, so it just depends on what you like to prioritize the most.
In the next part of my “How to buy Cardano” guide, I'm going to show you how to buy ADA coins step-by-step!
The Most Liked Findings
Looking for more in-depth information on related topics? We have gathered similar articles for you to spare your time. Take a look!
How to Buy Cardano
To show you how to buy Cardano, I'll use Binance as an example. The platform has the largest trading volume, its fees are low, and it’s really simple to use the site, in general. Please note that the process is very similar throughout each of the exchanges I mentioned in the "Where to Buy Cardano" section.
Open an Account on Binance
First, you will need to visit the official Binance website, which you can do by clicking this link.
Step 1: In the top right-hand corner of the screen, click on [Sign Up].
Step 2: Then, you will need to enter your email address, choose a strong password, and tick the terms and conditions box.
Step 3: Binance will send you an email. Go to your inbox and click the confirmation link.
Step 4: Pass KYC verification. While you can explore the platform without it, if you want to use any of Binance's features, you'll have to confirm your identity.
Congratulations, you have a Binance account!
Buy Cardano on Binance
Binance makes buying Cardano very simple with its "Buy Crypto" feature. It allows you to seamlessly buy crypto with fiat. Here's how to do it:
Step 1: Click on the [Buy Crypto] tab in the navigation bar.
Step 2: Make sure you’re in the "Buy" section. Decide the currency you want to buy Cardano with and input the amount. Mind that Binance imposes a minimum purchasing amount.
Step 3: As for the cryptocurrency you’ll receive, click on the dropdown, and search for ADA or Cardano.
Step 4: Decide your payment method, whether it is with debit/credit card, Google Pay, Apple Pay, or any other payment providers supported in your home country.
Step 5: Once everything checks out, finalize by clicking the [Buy ADA] button.
To make sure that your payment is successful, navigate to your Spot or Funding wallet, and see if the ADA you’ve purchased is there.
Deposit Funds Into Binance
Interested in not only buying ADA, but also trading it with top-tier crypto coins like Ethereum, among others (and the other way around)? I’ll show you how. First, you need to either buy another crypto asset on Binance or deposit it from some other exchange or wallet where you hold your funds. Here's how to do the latter:
Step 1: Once you are logged in, click on [Deposit] at the top right corner of your screen.
Step 2: You will now see a long list of cryptocurrencies that Binance supports. In the search box, enter Ethereum or whichever asset you want to deposit.
Step 3: Select the network for your Ethereum deposit. I’d suggest choosing Ethereum as well, since it’s the coin’s blockchain, after all (however, there are other options, like Base and Arbitrum Network, too).
Step 4: Your unique Binance wallet address for Ethereum deposits will then be displayed. Click on the [Copy Address] button.
Step 5: Go to the account of whichever exchange or wallet you hold your funds and paste the deposit address there. Once you send the coins, they should arrive in your Binance account within 10 minutes.
- Very low trading fees
- Exceptional functionality
- Mobile trading app
- Very competitive trading fees
- An intuitive mobile app
- Up to 100x leverage available
- A very well-known crypto exchange platform
- More than 500 different cryptos available
- Two-factor authentication
- Over 500 different cryptocurrencies available
- Strong security
- Small withdrawal fees
- Secure and reliable
- Low fees
- A good amount of fiat currencies accepted
- Reputable exchange
- Multiple fiat currencies are accepted
- Relatively low trading fees
Trade Cardano on Binance
If you have followed my step-by-step buying guide so far, you should now have a fully funded Binance account.
The final part of this guide is going to show you how to buy Cardano by trading it with another crypto asset.
Step 1: At the top of the page, move your mouse to "Trade" and then click on [Spot] underneath "Basic".
Step 2: On the right side of the screen, click on ETH and then search for ADA/ETH pair. Click on it.
Step 3: You are now on the main trading screen for the Cardano and Ethereum pairing. Scroll down below the chart and look for the "Buy ADA" trading box. Make sure that you click on the "Spot" tab.
Step 4: You now need to enter the number of coins you want to buy. If you want to use all of your Ethereum balance, click on 100%. If you don’t, you can enter your desired amount into the box. Finally, click on [Buy ADA] to complete your trade.
That’s it, you’ve just traded your crypto for Cardano!
Now then, where do you store it?
Where to Store Cardano (How to Get an ADA Wallet)
Since ADA is reigning as one of the top-performing cryptocurrencies, it’s probably not surprising to know that it’s available to store in all the major wallets.
That said, I’ll focus on one wallet that is designed for ADA. It's called Daedalus and it is the official wallet created by the Cardano team.
The wallet has some really strong security features; however, it is not yet available on all device types.
You will need to download it on to your computer, which you can do so by visiting the official Daedalus web page. The site also gives you step-by-step instructions, should you need any assistance.
Once you have installed it, you will be able to send, hold or receive ADA coins. This is one of the safer ways to store them, so try not to leave your coins in an exchange for too long.
Cardano developers are currently working on other features within the wallet, such as an Android and iOS app, as well as support for other cryptocurrencies. The team has also confirmed that ADA is now compatible with popular hardware wallets like Ledger Nano X, Trezor Safe 5, and others. So, for extra security, I suggest you to go with those.
The Most Trending Findings
Browse our collection of the most thorough Crypto Exchange related articles, guides & tutorials. Always be in the know & make informed decisions!
Conclusion
I hope you’ve enjoyed my “How to buy Cardano” guide! If you read it from start to finish, you not only know how to buy Cardano but you also now know some of the best exchanges to buy it from, along with all of their advantages and disadvantages. The reason I selected those particular exchanges is that they each offer different things for different users.
For example, if you prefer to get started straight away and want an exchange with lots of liquidity, Binance is the best option. KuCoin is great, too, especially when it comes to hassle-free crypto purchasing. Either way, it’s all about personal preference.
The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
About Article's Experts & Analysts
Whether or not the cryptocurrency exchange offers an opportunity for investors to observe the trading behavior of their peers.