Cardano is famous for its strong academic foundation. Instead of focusing heavily on marketing and community hype, this decentralized blockchain prioritizes innovation and peer-reviewed projects. In short, Cardano is a significant and influential cryptocurrency. But is this enough to consider buying Cardano’s native crypto, ADA? In this article, we’ll explore how to buy Cardano, its inner workings, and everything you should know about in 2024.
Buy Cardano (ADA) with few clicks on these secure platforms
YouHodler
Best for free BTC cloud mining
OKX
Best for mystery box offer
Coinbase
Best for beginners
Methodology
Our testing process for the top platforms to purchase Cardano was conducted over six months. When selecting the best platforms for purchasing Cardano, we utilized a comprehensive methodology evaluating key factors such as:
Binance
- Offers tiered fee structures based on trading volume
- Allows holding BNB (native exchange token) to maximize savings on trading fees
- Provides trading rebates on eligible accounts with high trading volume or significant BNB holdings
OKX
- Offers tiered fee structures with discounts for high-volume traders
- Allows holding OKB (native exchange token) to reduce trading fees
- Provides trading rebates for accounts meeting specific trading volume thresholds
- Allocates a portion of funds for security and liquidation protection
- Offers tiered fee structures with reduced fees for using KCS (native exchange token)
- Provides trading rebates for high-volume traders and KCS holders
- Has a dedicated safety fund for protecting liquidated accounts
- Offers additional discounts during promotional events
Kraken
- Implements powerful security measures, including two-factor authentication and encryption
- Is U.S. regulated and complies with all relevant regulations
- Regularly publishes proof of reserves to ensure transparency
- Offers advanced trading features and high liquidity for major cryptocurrencies
Coinbase
- Employs strong security measures like two-step verification and biometric logins
- Is a publicly traded company in the U.S., ensuring financial transparency
- Publishes quarterly financial statements and balance sheets
- Provides insurance for digital assets held in online storage
Eightcap
- It is regulated by the Australian Securities and Investments Commission (ASIC)
- Allows trading of shares, forex, and cryptocurrencies on a single platform
- Offers competitive spreads and leverage options for traders
- Provides educational resources and trading tools for beginners
YouHodler
- It is regulated in the E.U. and Switzerland, ensuring compliance with stringent financial laws
- Offers crypto loans with various collateral options and flexible terms
- Provides interest-earning accounts for holding cryptocurrencies
- Features multi-currency wallets and fiat on-ramp options
Learn more about BeInCrypto’s methodology verification here.
- The best platforms to buy Cardano
- 1. Binance
- 2. Coinbase
- 3. Kraken
- 4. Eightcap
- 5. *KuCoin
- What is Cardano?
- Comparing Cardano with other cryptocurrencies
- Exploring the Cardano Ecosystem
- How to buy Cardano?
- How to sell Cardano (ADA)?
- Cardano price prediction
- Can Cardano replace Ethereum? And should you buy it now?
- Frequently asked questions
The best platforms to buy Cardano
If you are ready to buy Cardano, the best method would be to onboard a centralized exchange (CEX). Our top options include:
1. Binance
Our experience with Binance for trading Cardano (ADA) has been impressive, largely due to its exceptional liquidity and range of trading options. ADA futures trading on Binance enabled us to speculate on price movements effectively. We also engaged in staking ADA on Binance, which is a relatively pretty straightforward way to earn rewards on your holdings. The platform’s comprehensive API support also made it easy for us to integrate our trading strategies with technical analysis tools. Additionally, Binance’s mobile app is indeed pretty solid for most users — new and experienced alike.
2. Coinbase
Coinbase has consistently been a user-friendly platform for buying and trading Cardano, particularly for U.S.-based users. Its clean, intuitive interface makes it an excellent choice for those new to cryptocurrency. The educational component, where users can earn crypto while learning about blockchain and crypto, adds to the platform’s charm. We also bought and traded ADA on Coinbase Pro. The experience was largely positive — thanks to the advanced features like detailed charts and lower fees. Additionally, the strong security measures and regulatory compliance of Coinbase ensure peace of mind while doing ADA transactions.
3. Kraken
Kraken offers a secure and versatile platform for buying and trading Cardano. It combines sophisticated trading features with powerful security. Our team found Kraken’s diverse order types and staking options invaluable for managing ADA investments of all sizes. The platform also provides detailed transaction reports, essential for tracking performance and simplifying tax reporting. Kraken’s commitment to regulatory compliance and transparent fee structure adds to user confidence if you intend to use it as a primary trading platform for ADA.
4. Eightcap
Eightcap has carved out a niche in Cardano buying and trading activities, particularly by integrating MetaTrader 4 and 5. This integration was impactful as it brought along a range of powerful tools for technical analysis. The competitive spreads and range of market access available on Eightcap make it a strong option for diversifying your crypto investments. Additionally, its user interface is streamlined yet powerful, which we found quite impressive as it caters to novice traders and experienced market players.
5. *KuCoin
KuCoin is a popular go-to for Cardano investors worldwide due to its sheer liquidity and user-friendly interface. The platform offers advanced trading options, including futures and margin trading, which we tested while diversifying our ADA investment strategies. The result was satisfactory. KuCoin’s lending and staking services also come in handy if you want to generate passive income from your Cardano stash. In our assessment, Cardano has one of the most active community and customer support among all large projects.
*In 2024, KuCoin is facing charges from the Department of Justice following allegations that the platform knowingly flouted AML rules in the U.S. The company’s legal woes have dramatically dropped its market share, with many concerned users withdrawing funds from the platform. For a detailed overview of the current situation, please check our explanation of KuCoin’s legal status. If you are considering alternatives to KuCoin, explore our recommended exchanges here.
What is Cardano?
Cardano is one of the more intense, research-oriented, programmable, and credible proof-of-stake (PoS) blockchains on the market. Its founder, Charles Hoskinson, also associated with Ethereum’s founding team, adds to the market presence. Even though Cardano was a tad late to the party of smart contracts, available only after the Alonzo fork of 2021, the chain ensured affordability by keeping the transaction costs on the lower side — an issue that still plagues Ethereum.
“Cardano is an open platform that seeks to provide economic identity to the billions who lack it by providing decentralized applications to manage identity, value, and governance.“
Charles Hoskinson, founder of Cardano: Twitter
How does Cardano operate?
Cardano relies on a specialized proof-of-stake (PoS) consensus called Ouroboros to be energy-efficient. The blockchain also brings forth a two-layer architecture consisting of a settlement and computational layers. With this flexibility, Cardano can better manage network resources and ensure that smart contract performances remain top-notch.
Cardano’s native coin, ADA, is meant to secure the network via Cardano staking. The crypto is also used for intra-blockchain transactions. If you plan to invest in Cadano, it is the ADA price forecast, short-term and long-term, that will be of most interest.
Did you know? Cardano’s much-anticipated Vasil hard fork happened a week after the Etherem merge. This fork aimed at making the transactions more affordable while adding to Cardano’s scalability and throughput.
Why is it popular?
There are quite a few reasons that Cardano is among the top-rated blockchains and usually finds itself in the top 10 list by market cap. The reasons include:
- An interoperable blockchain
- Strong DeFi presence
- Phased releases with attention to detail
Comparing Cardano with other cryptocurrencies
While Cardano does look like a promising project, let us understand how it compares against other cryptocurrency players.
Cardano vs. Solana
Cardano relies on a novel kind of PoS consensus. In comparison, Solana uses a proof-of-history consensus and combines it with PoS. However, in terms of transaction throughput, Cardano still lags behind Solana, which can hit 65K per second.
Cardano vs. Ethereum
Often termed an Ethereum killer, Cardano was a tad late bringing smart contract functionality into the mix. However, it still boasts affordability courtesy of a deterministic fee model, which is much more accommodative than Ethereum’s.
Exploring the Cardano Ecosystem
With smart contracts coming to Cardano after the Alonzo upgrade, Cardano’s ecosystem has demonstrably evolved. The blockchain also houses gaming and NFT platforms like SpaceBudz and relies on the inputs of an extended research group and community. Cardano even works closely with Oracle providers like Ergo to source data for specific projects.
Cardano’s DeFi presence
When it comes to the DeFi presence, Cardano is in the top 20 list by total value locked. Two of its most reliable protocols, or rather DeFi offerings, include ADAX, an ERC-20 converter and DEX, and SundaeSwap, an automated market marker-powered DEX and liquidity provisioning setup.
Cardano wallets
If you plan to buy Cardano (ADA), you should always try to store it safely. This is when choosing one of the best Cardano wallets, like YouHodler, Yoroi, and more, becomes important. While these are standard downloadable wallets, a better way to store them is to hold your ADA in a hardware wallet, preferably one from Trezor or Ledger.
Staking or mining cardano
If you’re wondering how to mine Cardano, know this isn’t possible. Instead, you can stake Cardano, which is a PoS crypto. Staking your ADA adds to the network security. Also, if you want the Cardano staking convenience, holding ADA in wallets like Yoroi and Daedalus is a better option, as these wallets support direct wallet-based staking.
How to buy Cardano?
1. Open the Coinbase app, select trade, and choose Cardano in the search bar.
2. Select the amount you would like to purchase.
3. Choose “Place Order” to complete your order.
How to sell Cardano (ADA)?
Selling Cardano (ADA) involves placing a sell order — market or limit — on the exchange where you hold your ADA. Or, you can transfer ADA from your external wallet to the exchange, eventually selling for fiat.
It is worth noting that Cardano trading, both buying and selling, is also possible on DEXs. However, you will need a compatible crypto wallet to connect to the relevant decentralized exchange. Here’s how to sell Cardano on Coinbase.
1. Open the Coinbase app, search for Cardano in “Trade,” and select “Sell.”
3. Type in the amount you would like to sell.
3. Lastly, choose “Place Order” to complete your sell order.
Cardano price prediction
Whether you wish to invest in ADA and hold long-term or indulge in Cardano trading, our Cardano price prediction can give you an idea of the prospects. If we look at the long-term picture, say up till 2035, our price prediction model foresees a strong price level of $22.04 for ADA. Note that predictions, despite being based on technical analysis, fundamental analysis, and more, can only give potential indications instead of definites. Always do your own research.
Can Cardano replace Ethereum? And should you buy it now?
Cardano is quickly climbing the charts but still needs to catch up with Ethereum in terms of market cap, DApp coverage, DeFi offerings, and more. However, as a technology-focused blockchain, it may present a promising opportunity for those with a long-term investment vision. Ultimately, always conduct thorough research and consider your financial goals before investing in Cardano (ADA).
Frequently asked questions
What is Cardano?
Can I buy Cardano now?
Is Cardano available on OKX?
Will Cardano reach $10?
How can I buy Cardano in the U.S.?
How much Cardano will be in 2025?
Can Cardano hit $100?
Should I buy Cardano or Solana?
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