Cardano is a decentralized blockchain-based project that seeks to make blockchain more accessible to educational, financial institutions, and in other areas. The Cardano network supports smart contracts that can be used to automate various processes within the network.
Cardano coin is used to transfer funds within the network and can act as a store of value. Cardano network relies on the Proof-of-Stake protocol which means ADA can be used for staking. This gives Cardano (ADA) holders the opportunity to earn cryptocurrency while supporting the network.
How it works?
Where to buy ADA coin?
ADA has long been established in the top 20 cryptocurrencies by market capitalization and is very popular among investors and crypto enthusiasts. Therefore, there are many platforms that support this cryptocurrency and make it possible to buy ADA. If you decide how to buy Cardano coin and where, then one of the most obvious answers is a cryptocurrency exchange.
Before choosing a cryptocurrency exchange, you need to make sure that you can not only buy Bitcoin and buy Ethereum there, but it also supports ADA. In turn, you need to pay attention to the available payment options and the fact that fiat transactions are supported on the cryptocurrency exchange for your country.
For example, at CEX.IO there is a huge number of available payment options for buying ADA. Apart from debit and credit cards, you can also buy ADA with an international (SWIFT), domestic (ACH, SEPA, Faster Payments) bank transfer, and online wallets (Skrill).
What’s more, when choosing a trading platform, it’s useful to do a little research about it online. There are many rating platforms providing detailed reviews and real users’ feedbacks about the exchange and their experience with them. Reading those reviews will help you get the idea of what you are going to deal with. Of course, internet is full of fake reviews, so it’s important to trust only verified resources that allow posting only real feedbacks.
Another important thing you may want to check is whether or not the platform is regulated. Choosing an exchange that is reviewed by the regulators, helps you ensure that your data and funds are safe there.
How to buy Cardano with a credit card?
One of the easiest ways how to buy Cardano cryptocurrency with a credit card is the Instant Buy service on CEX.IO. You can choose from pre-made packs or enter the amount you want to buy. After that, you enter your credit card details to verify it. After double-checking all entered information, you just need to confirm the transaction. That's all! The whole process takes just a few minutes.
In turn, you need to keep in mind that if you want to buy Cardano at CEX.IO, then you can only use personal Visa and Mastercard payment cards. Also, make sure that your card is not a business, prepaid, or gift card.
How to buy Cardano with a debit card?
You can also fund your CEX.IO account by using a debit/credit card. Payment can be made in any local currency but you need to make sure that your card allows for overseas transactions and currency conversion. The deposited amount in local currency will be converted to the deposit currency you select on CEX.IO (USD/EUR/GBP) at your bank’s current exchange rate.
Before making the first deposit, you need to link your card to your CEX.IO account. After payment card verification, you’ll be ready to make a deposit. With fiat money on your balance, you can go to the Trade page and place an order to buy ADA.
How to trade ADA with other currencies?
If you want to trade ADA with no effort, you need to find a reliable and secure trading platform like CEX.IO. CEX.IO offers more than 100 crypto-to-crypto and crypto-to-fiat currency pairs, high liquidity markets, and smooth-executed orders. And you can find markets like BTC to USD or ADA/USDT on the Trade page. Just choose the market from the list and you'll find a lot of useful information about the current market situation.
Also, after choosing, for example, the ADA/EUR market, you will also be able to place the order to exchange ADA for Euro and vice versa. There are two types of orders that can be used to buy and sell ADA and other cryptocurrencies — market and limit. The market order executes instantly at the best price available in the order book and can’t be reversed or canceled after placing it. The limit order allows you to set the specified price for buying or selling the asset, but it doesn’t execute instantly. You should wait until the price reaches the specified level but it is possible to cancel a limit order before its full execution. If the limit order was partially executed, then you can cancel only the part that hasn’t been executed yet.
How to stake ADA?
One of the reasons why it is worth buying ADA is using it for staking to receive a reward every month. No additional actions are required to stake ADA on CEX.IO. You just need to have some Cardano on your balance and your reward will be calculated automatically. The reward will also be distributed automatically at the end of the staking period. The amount of reward depends on how many coins you have on your balance.
Usually, staked coins are blocked for participating in consensus. But with CEX.IO, you can trade while participating in staking. Your reward is recalculated every hour, even if you place an order.