How & Where To Buy Cardano (ADA) in 2024 – The Ultimate Beginners Guide

This guide goes over everything you need to know about where to buy Cardano crypto in 2024. The altcoin is one of the most popular “Ethereum Killers” and a top 10 cryptocurrency – as ranked by CoinMarketCap. It has also performed well in the past and is massively popular.

These have seen it listed with virtually all the best crypto exchanges in the world. In this post, I tell you the five best places to buy Cardano today. I also provide a step-by-step guide to buying your first ADA token at one of the best altcoin exchanges.

How to Buy Cardano (ADA) – Quick Steps

This quick-fire guide teaches you how to buy Cardano right now. It briefly goes over the crypto buying process on eToro – an SEC-regulated crypto brokerage.

• Step 1: Register an eToro Account: Start by creating a free crypto trader account. The process is easy and straightforward. The brokerage only asks for your basic personal information.
• Step 2: Deposit Funds: Before you begin buying crypto, you will need to deposit at least $10 into your trader account. Note that the crypto trading platform supports all the popular fiat deposit options. These include PayPal, ACH checks, cards, and bank transfers.
• Step 3: Search for Cardano: Enter the term “Cardano” or its ticker symbol “ADA” on the search button Hit the “Trade” icon that appears.
• Step 4: Buy ADA: Use the trading tab that pops up to customize your Cardano investment. Indicate how much money you intend to invest in Cardano. Hit the “Open Trade” button to confirm this purchase.

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

I will provide you with a more detailed walkthrough of the crypto buying process below. I will also look at the different ways of buying Cardano and discuss the merits of investing in the smart contract blockchain network. Before all that, though, let me review the best crypto exchanges that list Cardano.

Where to Buy Cardano (ADA) – Best Crypto Exchanges

When looking for the best places to buy Cardano. I considered a number of factors. These include its user-friendliness, safety, regulation, reputation, and fees. In coming up with this guide, our analysts considered and vetted tens of the most popular crypto trading platforms in the world. Ultimately, they settled on these four as the best crypto exchanges for Cardano investors.

1. eToro – Overall Best Place to Buy Cardano Right Now

A number of factors convinced us that eToro is the best crypto exchange for Cardano investing. Chief among them is its appeal to both beginner and pro-crypto traders. I was also pulled in by its user-friendliness, safety, and transparency in pricing. Not forgetting that it also operates one of the best crypto trading mobile apps.

The decade-old crypto trading platform draws in beginner traders with its straightforward client onboarding process. They then stay because of its easily navigable interface and access to educational materials. Here, you will learn how to invest in cryptos and even practice trading in a risk-free demo account.

Why eToro?

They also get to interact with lucrative passive crypto investing tools. These include the crypto stalking program as well as the all-popular copy trader. They both ensure novice crypto investors make money while learning how to trade.

Pro traders are, on the other hand, drawn in by its efficiency and convenience. This starts with its ultra-fast transaction processing speeds. They are also drawn in by the many advanced trading, research, and analysis tools integrated into the trading platform. These include 75+ charting tools and technical indicators. They, too, appreciate its copy trading feature that rewards them with a commission if they let beginners copy their trades.

Several other factors help make eToro the best place to buy Cardano today. First is its commitment to the safety of client data and funds. For starters, the broker provides all its platform users with free and safe digital wallets. When you create a trader account, you are automatically allocated a web wallet. You can also download a free eToro Money wallet for iOS or Android.

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

2. KuCoin – Best Cardano Exchange for Low Fees and Passive Income Generation

KuCoin is popular for maintaining some of the lowest crypto trading fees. For example, when buying Cardano on KuCoin, you will only have to part with a volume-based maker/taker fee. This ranges between 0.1% and -0.005%. And if you settle this fee using KCS coins, you qualify for a 20% fee discount.

In addition to low fees, KuCoin introduces its platform users to multiple passive income generation programs. These include staking, savings, dual investing, KCS Bonus, Shark Fin, and crypto lending. It also hosts a token Launchpad that lets you invest in the next cryptos to explode early. All these make it one of the best Altcoin exchanges for beginners and long-term investors.

Why KuCoin?

KuCoin has also positioned itself as one of the safest crypto trading platforms around. For starters, it provides users with a free web wallet and mobile wallet app – the Halo wallet. These are highly secure, with the exchange-provided wallet holding 90%+ of your keys offline. The exchange also subjects itself to regular audits and publishes the proof of reserve reports.

But even more importantly, it doesn’t share your client data with third parties. Plus, it asks that all traders enable two-factor authentication.

KuCoin has also introduced multiple ways of buying cryptos on its platform. For starters, you can buy Cardano instantly with account balances or cards. You may also buy Cardano with bank or other fiat payment options but via the supported fiat-to-crypto onramps. It even integrates a peer-to-peer trading platform where you can buy Cardano for free. It also lets you automate your crypto trades via the many supported trading bots.

To learn how to eToro fairs against other top crypto exchanges, read our eToro vs Coinbase and eToro vs Robinhood comparative guides.

3. Coinbase – Best Place to Buy Cardano for Beginners Today

Coinbase is one of the most popular crypto exchanges in the world. It is also the most liquid crypto exchange in the US and the second most liquid in the world. Started in 2012, it is the most successful of the decade-old crypto trading platforms. It is also highly regulated – by the SEC – and is the first publicly traded crypto exchange. These, in part, help make it one of the top-rated crypto platforms in the US today.

But I feature Coinbase here primarily because of its beginner-friendliness. This is evidenced by the quick and straightforward client registration process. This is then complemented by its easily navigable and highly intuitive crypto trading interface. This features the instant buy option and also integrates extensive educational resources.

Here, you will learn how to invest in cryptos. You will also earn free cryptos when you learn different crypto and blockchain concepts.

Why Coinbase?

Coinbase is also a safe crypto exchange. It has put in place adequate measures aimed at keeping your private information and digital assets safe. It, for instance, provides users with a free custodial wallet that holds as much as 98% of client assets offline. The remaining 2% is insured – but so are your fiat deposits of up to $250,000 (insured with FDIC). eToro also gives you a highly secure crypto wallet app – the Coinbase Wallet.

Other factors making Coinbase the best crypto exchange for Cardano investors include its reliable support team. They are available 24/7 on the phone and via live chat. Further, Coinbase is affordable as it has no minimum deposit and a minimum buy limit of $2. It also presents you with multiple ways of buying cryptos on the platform. You, for instance, can buy Cardano with credit cards and debit cards, bank deposits, and eWallets like PayPal.

To learn how Coinbase fairs against other popular exchanges, read our Coinbase vs Binance and Coinbase vs Crypto.com comparative guides.

4. Binance – Best Place to Buy Cardano for Active Traders

Binance is the most popular and most liquid crypto exchange in the world. At the time of writing, the exchange had more than 172 million registered users drawn from 200+ crypto-friendly countries. It is also one of the best crypto trading platforms for active traders, primarily because of its low fees. They also like its fast transaction speeds, deep liquidity, and a great selection of crypto pairs.

When buying Cardano on Binance, for instance, you will be charged a volume-based maker/taker fee. This ranges between 0.1% and 0.012%, but you get to enjoy a 25% fee discount if you pay with BNB coins. In addition to Cardano, you can buy 600+ other cryptos on Binance. Here, you get to interact with both the new coins as well as the best DeFi coins to invest in today.

They also appreciate the fact that Binance supports crypto derivative trading. It lets you trade crypto futures and options. But even more importantly, you get to margin trade both crypto spot and derivative pairs. The leverage for the two is capped at X5 and X100, respectively. It also charges highly competitive interest rates on leveraged loans.

Why Binance?

Binance also appeals to beginner and long-term investors. It achieves this with its easily navigable platform and embrace of many ways to buy cryptos. You can, for instance, buy Cardano fee-free on the integrated Binance peer-to-peer trading platform. You may also automate your trades through trading bots as well as copy trading.

Other factors making Binance the best crypto exchange when buying Cardano include its safety. It also maintains a highly responsive support team available online via live chat 24/7. Binance also subjects itself to regular audits and publishes the proof of reserve reports. Not forgetting that it integrates multiple passive income-generating tolls on its website. Or that it is a multi-asset platform that integrates an NFT marketplace.

To learn more about how Binance fairs against top exchanges, read our eToro vs Binance comparative guide.

What is Cardano (ADA)?

Cardano is a proof-of-stake blockchain platform created in 2017 by Charles Hoskinson. It is one of the most popular “Ethereum Killers” – alongside Solana, Avalanche, and Polkadot.

Like the rest of the smart contract platforms, Cardano is to solve the scalability and high gas fee challenges facing the Ethereum blockchain. Note that before Ethereum’s transition to a proof of stake network in September 2022, Cardano was the largest and most valuable smart contract platform.

A number of factors make Cardano unique. First is the fact that all the programs and projects launched on the blockchain are subjected to a peer review process. This makes Cardano the only peer-reviewed blockchain protocol.

Further, Cardano is more decentralized than most of its competitors. This level of decentralization was achieved after the Shelly upgrade in 2020 that sought to make the network 50-to-100 times more decentralized.

It, however, is worth noting that Cardano has been rather slow in embracing innovation. For instance, it only integrated the smart contract feature on the platform in late 2021. Further, it was not until 2022 that it onboarded equally revolutionary innovations like DeFi, dApps, and Web 3 to its platform.

Is Cardano (ADA) a Good Investment?

A host of factors help make Cardano one of the best cryptos to invest in right now. Among the most convincing is the fact that it has maintained an overall uptrending price action since its launch. Below, I look at the top reasons why you should consider investing in Cardano today:

• Solid fundamentals: Cardano is one of the most secure blockchain technologies that only launches peer-reviewed projects on its network. It is also on the verge of launching hugely revolutionary dApps, DeFi, and Web 3 projects. These are expected to have a significant impact on the popularity of the Cardano ecosystem and the ADA token price.
• Obedience to market trends: You may also consider buying Cardano because it is obedient to market trends. Now is the best time to buy ADA because the market is in recovery mode and primed for the next bull market.
• Growing adoption: The global adoption of crypto and blockchain technologies is on the rise, but so is Cardano’s. As more brands build on the platform, I expect the demand for ADA tokens and their prices to assume an uptrend.
• Proven resilience: Cardano has proved its resilience. It has survived multiple crypto market crashes and waning crypto community confidence in the brand. Still, it maintained a top 10 position among the most valuable cryptos. I expect this resilience to continue driving its popularity and price up moving forward.
• Dramatic returns on capital: There is a growing optimism among investors that Cardano’s price will eventually explode. When this happens, ADA investors will be treated to dramatic returns on their investment.
• Thriving ecosystem and community support: Cardano has a thriving ecosystem with a large number of developers. It also has the backing of a large community of followers online. These have played a key role in influencing ADA price action and helping it maintain its position among the 10 most valuable cryptos. Moving forward, I expect the two to help trigger an uptrend for the ETH competitor coin.

Cardano (ADA) Price History

Cardano was introduced to the crypto community via an ICO in 2016. It had a token price of $0.0024. By the time it hit the open markets in October 2017, the altcoin was selling for $0.024 – having rallied by 100%. At the time, the market was setting the base for the 2017 bull run, which saw Cardano break above $1.

The rally was followed by an extended bear market that saw Cardano dip back to the $0.02 price level in early 2020. Its biggest price rally would come about in 2021 when it set the current all-time high of $3.10. This represents an 1800% rally between January and November 2021 and a 129,100% gain on its ICO price.

The aggressive value gain may be attributed to a number of factors. These include its obedience to market trends – more specifically, the bull market that dominated the crypto industry at the time. It could also be attributed to the significant developments that took place in the Cardano ecosystem.

First, was the Shelly upgrade of 2020 that had not been priced in. The second was the implementation of the smart contract feature in September 2021.

Note, however, that the market obedience trait can also have a negative effect on a crypto price. It may, for example, be attributed to Cardano’s depressed price action throughout 2022 and 2023. This claim is backed by the fact that the Cardano ecosystem underwent significant developments in 2022 and 2023. These, however, didn’t move its ADA token prices as the crypto markets were pinned down by the bearish sentiments.

Cardano (ADA) Price Prediction

Moving forward, there is a lot of optimism among investors that Cardano will eventually rebound. A growing number of analysts and forecasters are also confident that Cardano will recapture its all-time high during the next bull market. They are confident Cardano will rally by more than 620% if the bull market is confirmed. Below, I look at the top price forecasts for Cardano for the foreseeable future:

Cardano price forecast 2024: Conservative analysts and investors expect ADA token prices to reach at least $2 before December 2024. The more optimistic, on the other hand, expect it to rally by as much as 1000% to break above $5.

Cardano price forecast 2025: Two key developments are expected to trigger what is expected to be the biggest crypto market rally in 2025. The approval of Bitcoin ETFs is in January 2024, and Bitcoin halving is in April. If this happens, analysts like Dan Gambardello – founder of Crypto Capital Venture – expect Cardano to reach $11.

Ways of Buying Cardano (ADA)

Different crypto exchanges have come up with multiple ways of investing in Cardano. In this section, I will be looking at the three most common ways of buying ADA tokens on top exchanges.

Buy Cardano with PayPal

A number of crypto exchanges will let you buy cryptos instantly with PayPal. These include eToro and Coinbase. You can deposit into these platforms using PayPal and such other eWallets as Skrill and Neteller. To buy crypto with PayPal on Binance or KuCoin, however, you will need to go through their P2P platforms.

The primary advantage of buying cryptos directly with PayPal is that the company is quick in processing the deposit. It also charges competitive payment processing fees and protects user funds with chargebacks. The biggest drawback to using PayPal, on the other hand, is that it has low maximum daily transaction limits.

Buy Cardano with Credit Cards and Debit Cards

You may also invest in Cardano and some of the other best cryptos to buy today with credit cards and debit cards. The payment method is preferred because cards are easily accessible and one of the most common payment methods. All the crypto exchanges I have discussed above will, for instance, let you buy crypto instantly with cards. You may also buy crypto fee-free on exchange-based peer-to-peer trading platforms.

The upsides of buying crypto with cards include the fact that the deposit is processed nearly instantly. Additionally, most crypto exchanges do not charge a deposit processing fee. Most card issuers will also charge relatively low transfer processing fees. On the flip side, though, cards have relatively low maximum daily transaction limits.

Buy Cardano with a Bank Deposit

Virtually all the best crypto exchanges in the world will let you buy Cardano and other cryptos with a bank deposit. They also don’t charge a deposit processing fee. Not forgetting that they maintain high maximum deposit limits. eToro, for example, doesn’t have a maximum transfer-in limit for bank transfers.

There, however, are several downsides to funding your trader account with a bank transfer. First, most exchanges have higher deposit minimum limits. At eToro, for example, the minimum you can deposit in the bank is $500. Secondly, deposits may take days before reflecting in your crypto trader account – leading to slippage.

Step-By-Step Guide to Buying Cardano (ADA) on eToro

In this section, I provide you with a more detailed crypto-buying process on eToro. I have already mentioned that the process is quick and straightforward and only takes a few minutes. But even more importantly, you only need $10 to start investing in ADA.

Step 1: Open a Crypto Trading Account

On your browser, open the official eToro.com website. Alternatively, download the eToro crypto trading app. On either platform, hit the ‘Join Now‘ button and complete the registration form that pops up. The broker will ask for details such as your name and address, country of residence and phone number, income source, and trading experience. You will also need to come up with a unique username and strong password for this account.

Step 2: Verify your Identity

The registration process on eToro is only considered complete after you have verified your identity. Simply send the eToro team a photo of your government-issued identification document. This may be a passport or driver’s license. You will receive an email notification informing you of account approval within 24 hours.

Step 3: Deposit Funds

Log into the just-approved crypto trader account and hit the “Deposit Funds” icon on the user dashboard. A trading tab will pop up, indicating all the payment options available to you based on your country of residence. These include cards, bank deposits, PayPal, and other eWallets like Skrill or Neteller. Click on one of these and follow the prompts to transfer the funds.

Step 4: Search for Cardano

On the user dashboard, click on the “Discover” icon. This will show you all the financial instruments that are tradable on eToro. Choose ‘Crypto’ and select “Cardano” from the list of supported digital assets.

Step 5: Buy Cardano

Hit the “BUY” option against Cardano, and a trading tab will pop up. Customize this trade by indicating how much you intend to invest in Cardano. Hit the “Open Trade” button to confirm this purchase.

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

Step 6: Set and Activate eToro Money – Mobile Wallet App

Note that the private keys for the ADA tokens you just bought will be deposited to the exchange-provided web wallet. But this wallet doesn’t support in- or out-bound crypto transfers to any other wallets other than the eToro Money wallet app. Therefore, if you wish to transfer these funds to a third-party wallet or exchange, you first need to move them to eToro Money.

Start by downloading the free mobile wallet app for iOS or Android. Use the credentials created in Step 1 above to log in. Link the wallet app to the trading account and move the crypto from the tracing app to the wallet app. Note that you will be charged a 0.5% crypto transfer fee (capped at $50). From here, you can send the ADA tokens to any third-party wallet or exchange.

How To Sell Cardano (ADA) on eToro

The process of selling Cardano at eToro is equally straightforward. Here is the step-by-step guide for selling ADA tokens on eToro today.

• Step 1: Log back into the eToro trading account.
• Step 2: Hit the “Portfolio” icon on your user dashboard to reveal all your open crypto trades.
• Step 3: Choose “ADA” and choose the “Close” trade option.
• Step 4: Indicate whether you want to sell a portion of ADA tokens or the entire position and hit “close” to execute.

Note: The cash equivalent of the Cardano tokens you just sold will be immediately deposited into your account. You can use it to buy more crypto or simply withdraw it.

Conclusion – Where to Buy Cardano (ADA)

Cardano is one of the most popular smart contract platforms in the world. It also lists highly among the most promising cryptos to buy today. The smart contract platform also enjoys a massive following from the crypto community. These have seen it listed with all the best crypto exchanges around.

In this guide, I provide you with an overview of the best crypto exchanges around. I also went over everything you need to know before investing in Cardano tokens.

Want to start investing in Cardano tokens right away? Use the step-by-step guide to buying cryptos on eToro that I have outlined above.

Reviewed and Fact Checked by Kamal Masri, Crypto Writer and Investment Analyst.

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Cryptoassets are a highly volatile unregulated investment product.

References:

• https://www.coindesk.com/tech/2022/02/10/the-top-ethereum-killers-compared/
• https://coinmarketcap.com/
• https://www.cnbc.com/2023/06/12/coinbase-sued-by-sec-over-alleged-unregistered-securities.html
• https://cardano.org/
• https://cointelegraph.com/learn/ethereum-upgrades-a-beginners-guide-to-eth-2-0
• https://decrypt.co/36817/cardanos-profound-shelley-upgrade-is-primed-for-lift-off
• https://www.fool.com/the-ascent/cryptocurrency/articles/cardano-to-launch-smart-contracts-in-september-heres-what-it-means-for-investors/
• https://www.reuters.com/technology/bitcoin-etf-hopefuls-still-expect-sec-approval-despite-social-media-hack-2024-01-10/

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Author: Wajeeh Khan

Wajeeh Khan is a financial researcher and writer with 7 years of experience. He has immense exposure to a range of financial assets, including stock, cryptocurrencies and forex - and is particularly well-versed in asset valuation, analysis, and portfolio management. Since 2016, Khan has worked with notable online platforms within financial journalism, including Invezz, Trading-Education, Dog of Wall Street, and News Break. All in all, he has written, editted, and published over 7,000 articles, guides, and market insight. Online casinos started as a hobby for Khan in 2018. But in only two years, it had already become another niche that he started actively researching. Over the past three years, he has written a diversified set of content around gambling for clients from all over the world. Academically, Khan has a Bachelor's in Economics and a Master's degree in Finance. He's also completed a bunch of courses on digital journalism and financial markets at large.

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