How to Buy Cardano (ADA) on CEX.IO

Whether you’re looking to buy ADA with a credit or debit card instantly or trade Cardano tokens against other currencies, CEX.IO offers straightforward and user-friendly pathways. In addition, we provide eligible users with a free crypto wallet, allowing them to buy, sell, trade, store, and convert their ADA holdings seamlessly. 

Step-by-Step Guide on How to Buy Cardano (ADA) on CEX.IO

Those looking to buy crypto, including ADA, can choose between several gateways, each offering its own advantages and disadvantages. From our perspective, Instant Buy is the most straightforward way for beginners to obtain ADA. It’s fast, convenient, and requires no technical knowledge about the crypto market. It’s available through our web-based platform and mobile crypto apps (iOS and Android), allowing enthusiasts to manage their holdings whenever and wherever possible. 

Below is a step-by-step guide on buying ADA through Instant Buy on CEX.IO.

Step 1: Register with CEX.IO

ADA is available to registered users only. Hence, you need to create an account to become eligible to buy crypto at CEX.IO. Here’s how: 

1. Go to our official website and click Create an Account. 
2. Fill in the required fields, including your country of residence, email address, and account password. 
3. Verify your email address by clicking on the corresponding link in your inbox. 

Step 2: Verify Your Identity

As you already know, CEX.IO is a licensed and regulated exchange operating around the globe. Because of that, we require users to verify their identities to comply with KYC/AML policies. This not only helps us provide you with a seamless crypto experience but also helps customers secure their information. To verify your identity, you need to: 

1. Provide us with your ZIP code, country, and address. 
2. Specify your phone number to help safeguard your account. 
3. Complete the facial recognition check to potentially prevent bad actors from hijacking your holdings. 
4. Providing us with the details, as well as the pictures of your personal documents. This can be either your ID, passport, or driver’s license. 

This procedure is fairly straightforward and typically takes under six (6) minutes to complete. Having your documents readily available can expedite the process. Keep in mind that identity verification steps may vary between countries. Users from certain regions may have to complete a short questionnaire to comply with local regulators. 

Step 3: Access Instant Buy

Once verified, you can access all of CEX.io's services and features supported in your country, including Instant Buy. You can find this functionality within your dashboard on the left-hand side of the user interface or under the Products menu. Access Instant Buy and follow these steps: 

1. Specify the fiat currency you want to use for your ADA purchase. 

1. Enter the amount you want to spend. Alternatively, choose an amount from our pre-selected denominations. 
2. Choose ADA as your preferred cryptocurrency from the dropdown menu. 

3. Click Buy Crypto. This will take you to our Add Funds page. 
    

   

Step 4: Buy ADA

Review all purchase details within the Add Funds menu. Once you confirm everything is correct, find the Select Payment Method tab. From there, select credit/cards and enter the following details: 

• Your card number. 
• Expiration date. 
• CVV (three-digit number from the back of your card). 

Follow the instructions to complete the payment. 

Cardano (ADA) Wallet

Once you complete the transaction, your ADA tokens will be added to your Cardano Wallet, courtesy of CEX.IO. This is a custodial wallet, meaning that you can access it through our web-based or mobile platforms. You don’t have to install additional software or purchase physical storage units. All you need to do is type your email address and password to access and manage your holdings. To check your balance, log in to your account, access the CEX.IO Wallet from the dashboard (or under the Products tab), and look under Balance. This will provide you with the total value of your portfolio. Should you require details about your ADA holdings specifically, follow these instructions: 

1. Find the Cryptocurrency tab under the Balance section. 
2. Access the search bar and type ADA. 
3. Once you find your cryptocurrency, you can review the available balance, as well as the current fiat value of your tokens. 

Keep in mind that your crypto wallet provided by CEX.IO does not limit users to ADA tokens only. You can add as many cryptocurrencies as you want to your wallet with no extra charges for additional token slots. 

How to Trade ADA on CEX.IO?

For experienced enthusiasts and those who want to test their crypto knowledge, we offer Spot Trading. Our user-friendly platform allows users to acquire ADA by trading this token against other crypto and fiat currencies. Currently, the available trading pairs include: 

• ADA-EUR
• ADA-GBP
• ADA-USD
• ADA-USDT

Those interested in trading with leverage and potentially amplifying their gains can utilize our Margin Trading platform. The available trading pair is ADA-USDT. 

Now, for those that might be new to trading, here’s a quick, simplified manual on how to trade ADA through Spot Trading: 

1. Add ADA to your balance through Instant Buy or the Add Funds function within the Spot Trading interface. 
2. Find the desired ADA currency pair on the left sidebar. 
3. Choose the Buy or Sell function. 
4. Determine your BUY/SELL order. You can choose between Market, Limit, and Stop Limit orders. 
5. Review all the details and initiate the trade. 

FAQs

What is Cardano (ADA)? 

Cardano (ADA) is a decentralized, open-source blockchain platform designed to be a more efficient and scalable alternative to earlier blockchains like Bitcoin (BTC) and Ethereum (ETH), both of which are available on our platform. Interestingly, it was founded by Charles Hoskinson, one of Ethereum's founders. So, it may not be a big of a surprise that Cardano uses a proof of stake (PoS) consensus mechanism, just like Ethereum. However, the only difference is that Cardano has its proprietary consensus protocol called Ouroboros, which is potentially more energy-efficient compared to the proof of work systems. It aims to support smart contracts, decentralized applications (dApps), and identity management solutions, and it uses ADA as its native cryptocurrency. This token is used for transactions, staking, and paying fees. 

Where to buy ADA?

ADA is available on multiple centralized and decentralized exchanges, including CEX.IO. The decision on where to buy Cardano, and how, should depend on an individual’s goals and risk tolerance. We encourage users to conduct thorough research, including the exchanges’ histories, track records, and available fee schedules and limits and commissions, before purchasing. 

What else can I do with my ADA tokens?

As mentioned earlier, having a Cardano Wallet allows eligible enthusiasts to buy, sell, trade, and store ADA. But that’s not all. In addition, users can participate in our Crypto Staking program and stake their ADA holdings to potentially receive crypto rewards. Beyond that, customers from the European Economic Area (EEA) can request our Crypto Debit Card and use it to spend ADA for in-store and online purchases, like any other fiat currency. 

What is the current price of ADA? 

Visit our ADA price page to learn more about its real-time value, 24-hour price change, and hottest trading pairs. For a more comprehensive overview, including the ADA’s price movements in specific time allotments, as well as its value against other currencies, check Spot Trading. 

What payment methods can I use to buy ADA on CEX.IO?

In addition to credit and debit cards, eligible participants can buy ADA with: 

• Bank accounts
• Google Pay
• Apple Pay
• Skrill 
• Neteller
• MoneyGram
• PayPal (US-based customers only)
• Venmo, Discover, Payoneer, Revolut, and Wise cards
• Epay

Disclaimer: Due to varying regulations between countries, some payment methods may be unavailable in your region. Please research available funding gateways before purchasing ADA at CEX.IO.