Where to Buy Cardano: Things to Know Before Investing

One of the most promising developments in the cryptocurrency ecosystem is Cardano and its ADA token. This can be seen in this phenomenon: both its defenders and its critics agree that it is one of the projects linked to decentralized finance with the most potential in the long term.

Those who recommend buying Cardano point to three arguments: it was born from an academic environment (key in what is scalability and security), it has a wide community that supports it (which ensures demand and, consequently, price) and it is not centralized (vital when not depending on organisms that can be regulated).

In fact, it is said that investing in Cardano is betting on a third-generation blockchain that will reach – and could even surpass – more mature developments, such as Bitcoin or Ethereum. Let’s find out more about it and where to buy it from.

Cardano: What is It and Where to Buy It?

What is Cardano?

Cardano is a public and open source blockchain. In addition, it is a platform where smart contracts can be deployed.

The entire project is being monitored by a company focused on blockchain technology (IOHK) and by the Cardano Foundation. The co-founder of Ethereum, Charles Hoskinson, is a part of both. Cardano’s headquarters are in the city of Zug, in Switzerland.

Also part of the “trilogy” behind Cardano is a Japanese company called Emurgo, which has become its largest private investor.

What is ADA?

ADA, the name of the token, is named for Ada Lovelace, who is considered to be the first female programmer in history.

What are the advantages of investing in Cardano?

A solid research-based project

Those who advise buying the coin founded by Charles Hoskinson as an investment are based on the benefits of its open source, on the flexibility and simplicity to carry out transactions, and on the consistency of a project that has planned updates that it only puts into practice after solid testing.

In fact, in October 2021, Cardano expects to roll out its smart contracts functionality, an update dubbed Goguen. This was announced by IOHK, the company that is one of the pillars of development and that carries out blockchain updates. 

Beyond the announcement, it would not be a surprise if the update is postponed, because, since its inception in 2015, Cardano has always moved with caution, adding features slowly and after much research and all kinds of tests. 

Once updated, it will be able to compete with the other third generation blockchains, such as Solana, Avalanche, Tezos and, its greater competition and predecessor, Ethereum.

Cardano is constantly evolving

Cardano was developed (strictly speaking, it is being developed) as a project in stages: Byron, Shelley, Goguen, Basho and Voltaire. 

In each stage, the network was adding functionalities with the idea of ​​advancing, step by step, in a robust proposal that generates confidence in investors.

Currently, it is in the Goguen phase, one of the most relevant for the blockchain because, as we explained before, it will add support for e-contracts (electronic contracts or smart contracts) and native tokens. In addition, it will allow the construction of a DeFi (Decentralized Finance) system on the same Cardano network.

Since its inception, Cardano has been developed in a programming language considered the most secure in the world, Haskell. They use it on their systems from Facebook Inc. and AT&T, to NVIDIA and Microsoft.

It has smart contracts

By definition, Cardano is a platform for the transaction through smart contracts with a 100 percent scientific approach. Its main objective is to be able to execute an almost unlimited number of financial transactions in a flexible and secure way.

Cardano’s support network will allow the development of e-contracts and decentralized applications, as well as the programming of DeFi applications. These Apps could be used by individuals, companies, nonprofits, and states around the globe.

Indeed, the Government of Ethiopia is already working with IOHK to migrate its education system to a solution developed in Cardano that will allow them to identify students and teachers, digitally manage grades and monitor school performance. 

The Cardano blockchain is efficient, scalable and interoperable

The question that many often ask before buying Cardano is, what is the difference between the Cardano and bitcoin blockchains? The answer is simple: Cardano’s blockchain uses proof-of-stake (POS) algorithms for mining, a different model from bitcoin’s proof-of-work (POW).

This algorithm, called Ouroboros, consumes less energy than bitcoin and rewards miners differently, making them a part of the project.

It has three advantages that, for the proponents of the project, are the key to its future success: scalability, sustainability and interoperability. 

The scalability means that the Cardano network can process an almost unlimited number of transactions per second. Some papers speak of more than a million, much more than the current credit card payment systems.

The bitcoin and ethereum networks, on the other hand, are not scalable and the number of transactions can take long minutes when the load increases significantly.

The Ouroboros algorithm, by using POS and not POW, does not enable the first person to arrive (and who must do all the work), but instead encourages holders of the ADA cryptocurrency to be part of the validations in exchange for rewards. This enables the expansion of the blockchain.

The third advantage is interoperability between different blockchains. The ultimate goal of Cardano is that all the tokens of each of the cryptocurrency projects can interoperate with each other on a fast, cheap and sustainable “highway”.

Where to Buy Cardano?

  1. Sign up for Binance
  2. To do this, you only need an email and a password. You can do it from this link. Deposit FIAT, bitcoin (BTC) or ethereum (ETH) in your account
  3. Open a market order to buy ADA.


Through a “market order” you buy ADA directly, at the price it has at that time. Instead, by means of a “limit order” you can set a purchase price. That is, if you think Cardano is going to go down a bit more, you can set your target price. The purchase will be executed if ADA reaches that price.
In addition, limit orders have a lower commission, so they are always more recommended.

How to buy Cardano with a credit card?

Buying ADA with a credit card directly is not currently possible. The simplest thing is to buy a better known cryptocurrency such as BTC or ETH on a platform that accepts a credit card to transfer it to a trusted Exchange.

A good place to buy these cryptocurrencies with a credit card is Coinbase. You can also buy common cryptocurrencies with a card at Coinmama. Later you can transfer them to an Exchange of your choice.

How to buy Cardano using a bank transfer?

Buying ADA by bank transfer is very common when it comes to cryptocurrencies. Many of the current platforms allow the deposit using this payment method. In addition, the Exchanges hardly apply commissions to the transfers, which in many cases are free. The downside is that you will normally have to wait 1 or 2 days for the transfer to be verified and the deposit verified.

Some of the platforms on which it is possible to acquire Cardano by bank transfer are: Netcoins, Coinbase, BitINKA Coinsmart, Paybis, Binance, Cryptoder. 

How to buy Cardano with PayPal?

The only way to buy Cardano with Paypal that currently exists is through eToro. However, eToro is not a cryptocurrency exchange, but rather a trading platform. This means that you will not be able to send your ADAs to your wallet, you will only have them on the platform.

How has the price of Cardano evolved?

Cardano’s price has evolved this year in a similar way to that of other benchmark digital currencies, bitcoin and ether, but with higher growth since it started much lower.

As of December 2020, ADA was trading at around $ 0.12. It was in the first weeks of 2021 that its value began to skyrocket, reaching $ 0.39 on January 24 and $ 1 on February 8.

In the same way as the other major cryptocurrencies, ADA followed an upward rally in the first quarter of 2021 until reaching its all-time high: $ 2,309, in the second week of May. It was a 1,900 percent increase in five months.

Since then, it has been hit by the bear market that affected the entire cryptocurrency market. Cardano’s price dropped to around $ 1.25 at the end of July.

A relevant fact is that Cardano is in the top 5 of the ranking of cryptocurrencies by market volume and, if the stable currency tether is not taken into account, it is on the podium, only preceded by bitcoin and ethereum.

What are the risks of investing in Cardano?

Like all cryptocurrencies, investing in ADA, the Cardano token, has the problem of volatility. As we explained before, the asset rose almost 2,000% in a few months, but then its price collapsed almost 50%. It was along with the rest of the altcoins.

No one who invests in cryptocurrencies should think that they will not be exposed to the short-term volatility of these assets. Great returns always go hand in hand with great volatilities. 

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