Where To Buy Cardano (ADA) Coin – The Best Exchanges
How To Buy Cardano (ADA) Cryptocurrency
Unfortunately, like many altcoins, it is not possible to buy Cardano (ADA) directly with fiat currency. You must first purchase either Bitcoin (BTC) OR Ethereum (ETH) and then you can use either one of them to purchase Cardano (ADA). We would recommend using Bitcoin however as it offers greater flexibility in buying other altoins as well as greater liquidity.
Step 1: How To Buy Bitcoin/Ethereum On Coinbase (If you already own Bitcoin go to Step 2)
Step 2: How To Buy Cardano (ADA) On Binance Exchange
Step 3: Setting Up A Cardano (ADA) Hardware Wallet (How to safely store Cardano (ADA))
How To Buy Bitcoin Or Ethereum On Coinbase
If you sign up to Coinbase using this link we’ll both receive $10 of free Bitcoin when you buy or sell $100 of bitcoin or more (or the equivalent in your currency).
You can read our full Coinbase guide for buying Bitcoin and Ethereum here.
How To Buy Cardano (ADA) On Binance Exchange With Bitcoin
Step 1: Now that you own Bitcoin, it is time to exchange it for Cardano (ADA), we can do this on the Binance Exchange.
Click here to go to Binance and create an account by clicking “Register” in the top right.
Step 2: Enter your email and a strong password, preferably one at least 10 characters long containing upper and lowercase letters as well as special characters.
Step 3: You will be sent a confirmation email. Click on the link inside the email to confirm your email address.
Step 4: Upon clicking the link you will go back to the Binance website with your email address now confirmed. Click “Login” and enter your email address and password and click “Login”.
Step 5: Upon logging in you will be greeted by a pop up advising you to set up 2FA (two factor authentication) on your account.
We would recommend that you set up 2FA on your account. 2FA is an automatically generated number that changes periodically, this will act as a second password on your account and will make your account much more secure.
We recommend using the Google Authenticator app which you can install on your mobile phone. We also recommend you make a physical copy of the seed number so that in the event you break or lose your phone you can restore your Authenticator numbers to a new device.
Step 6: Hover your mouse over “Funds” in the top menuu and click “Deposits Withdrawals”. You can now see the balances of all of the coins you have on Binance.
You can now either manually search for Bitcoin or using the search box, type “Bitcoin”.
Your bitcoin deposit address (a long string of numbers and letters) will now be displayed. Copy this address as we will need it later.
Step 7: This step may now be different, depending on where you store your Bitcoin but for the purpose of this guide we will show how to send your Bitcoin to Binance.
Login to your Coinbase account and click “Accounts” from the top menu and find your Bitcoin wallet listed on the left.
Step 8: Paste the Bitcoin wallet address we just copied from Binance into the ‘Recipient’ box.
In the “Amount” box type the amount of Bitcoin you wish to send to Binance and click “Continue”.
You maybe be asked to confirm your password again. Simply follow the onscreen instructions until your Bitcoin has been successfully sent.
Coinbase may ask you to confirm with your password/phone. Follow the instructions until it confirms the Ethereum are sent.
Step 9: We will now have to wait patiently for our Bitcoin to arrive at Binance. The amount of time you have to wait depends on how clogged the network is however it will usually take between 20 and 60 minutes. Binance will typically send you a “Deposit Success Alert” email.
Step 10: Once the Bitcoin shows in your “Available Balance” we are now ready to buy Cardano (ADA) currency.
Click here to jump straight to the ADA/BTC exchange market on Binance.
Alternatively you can click “Exchange” and under the BTC tab in the right hand column you can search “ADA” to find the right market.
Step 11: The exchange platform may look complicated at first but we only have to concern ourselves with a small part of it. You can either choose a “Limit” order or a “Market” order.
A “Limit” order is where you can set the exact price at which you would like to buy however your order may not necessarily be filled as a seller will have to agree to sell at that price.
A “Market” buy will execute your order immediately at the best price available i.e. the market price.
Depending on which you prefer select either the “Limit” tab or the “Market” tab, fill in the appropriate details in the “Buy” column and then click “Buy ADA” a confirmation box will then appear.
Step 12: To confirm you have received your ADA, hover over “Funds” in the top menu, then click “Deposits Withdrawals”.
In the search box, type ADA. You will now see your new ADA in your ADA balance.
You can now move these coins off of Binance into your personal wallet by clicking the “Withdrawal” button or you can choose to leave your coins on Binance. Due to the risk of exchanges being hacked we highly recommend you moving coins into your own personal wallet where you can ensure their safety.
Setting Up A Cardano (ADA) Hardware Wallet
Important Note: Computers and phones are constantly being hacked. The anonymity of cryptocurrencies make it a prime target for hackers who would love to get their hands on your coins. It is essential that you keep your coins in a safe and secure way, this can be done through a hardware wallet such as the Trezor or Nano Ledger S.
Hardware wallets plug into your computer like a usb stick and are particularly safe because they are not connected to the internet and therefore out of reach of any potential hackers. In order for someone to steal your coins they would need physical access to your hardware wallet as well as knowledge of your private password.
Where can I get a hardware wallet?
We recommend either the Trezor which you can purchase from their official site here or the Ledger Wallet Nano Ledger S which you can purchase from Crypto Wallet Supply and get $10 off with our promo code CRYPTOPROMOCODES.
Alternatively you can purchase from a range of hardware wallets from Amazon.