Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

Guide: How to buy Cardano Crypto Currency

Cardano is a decentralized open-source Crypto Currency, which literally from nowhere soared to the top 10 crypto-currencies with the largest  market capitalization . This is a relatively new project, launched in 2015 and appeared on the stock exchange only in October 2017.

In this regard, Cardano is still only in the development stage and it’s too early to talk about the final product. So why did this platform become so attractive to investors, and its market capitalization exceeded $ 30 billion?

The creators of this project are trying to change the very approach to the creation and development of crypto-currencies. In the initial stage, the project had neither a technical description nor a road map.Instead, a set of principles and rules was formulated. In fact, Cardano is a scientific project, which is not surprising, since the team of its creators is assembled from engineers and scientists.

They work together to develop a platform for  smart contracts  with additional options. Their goal – to create a crypto currency, which will absorb all the best merits of other projects.

The presently designed Cardano platform consists of several levels, so in the future it will be easy to maintain and improve. One of these levels is responsible for smart contracts, in addition Cardano offers decentralized applications (  Dapps ). On the first official use of Cardano it was announced in December 2017: several Greek universities will use  blokcheyn  Cardano storage and  confirmation  certificates of their students.

Step-by-step instruction for buying Cardano

Step 1: Get your wallet

Cardano is a new project, and much of it is still under development. Therefore, to store the Cardano token, called ADA, there are not so many wallets.

Desktop wallets

The only desktop purse for Cardano is  Daedalus . It can be downloaded on the official website. This is a crypto-currency   open-source purse specifically for ADA. It is supposed that it will develop along with the project and will become a universal purse, a platform for blocking applications and an application store. The Daedalus wallet is available for Windows, Mac and Linux. Desktop wallets, in general, are more reliable than web purses, but they can also be hacked.

Hardware Wallets

It is best to store the crypto currency in the hardware wallet, because there it is offline and protected from viruses and hackers. While hardware purses for the ADA not, but it is expected that in the near future it will support  Ledger the Nano the S .

Web Wallets

Now there is not a single web or online wallet for ADA. Do not try to download a web purse that supposedly supports this crypto currency – this is almost certainly a scam. Although the web wallets are very convenient to use, because with the Internet they can be checked anywhere and anytime, they are the least protected from hacking.

Mobile Wallets

Engineers Cardano develop a mobile wallet for Android and iOS. With it, users can easily check the balance of their account and make transfers. Google Play and the App Store already have several mobile wallets for ADA, but none of them are completely trustworthy.

Step 2: Buy Cardano on the exchange

Since Cardano has only been trading on stock exchanges since October 2017, as long as there are not so many sites where it can be bought.

Buying a Cardano on Binance

It’s hard to believe that the Binance Exchange was launched only in 2017. In a short time, this Shanghai crypto exchange became one of the most popular trading platforms. At Binance, you can buy several tens of crypto-currencies, including ADA, which is traded in pairs and with  bitcoin  and ether.Unfortunately, you can not buy it for a currency, but at least this site is fairly easy to use, and   there are small commissions .

Buying a Cardano on Bittrex

Bittrex is an American currency exchange, which has existed since 2014, where many currencies are traded. On Bittrex ADA you can buy for bitcoins and USDT. As with Binance, you can not pay with fiat money here, so if you do not have BTC or  USDT , you need to buy one of these crypto currencies (via bank transfer, credit card, etc.), and then transfer it to Bittrex.

Buy Cardano on Coinnest

Cardano is indeed also traded on the Coinnest exchange, but this marketplace is unlikely to suit you: it is located in South Korea and you can buy ADA only for South Korean wons. Little is known about Coinnest in addition to the fact that the trading volumes there are very small compared to Binance and Bittrex. Be careful.

Buying a Cardano for cash

At the moment, you can not buy Cardano for cash. But you can buy for cash bitcoins and exchange them for Cardano on one of the above exchanges (or through  Changelly ).

Purchase of Cardano by bank card

While it is still not possible to buy Cardano directly through a credit or debit card, you can buy another crypto currency in this way, and then exchange it for ADA. The easiest way to do this is through Coinbase . Registration there is simple and fast, and you can acquire a bit of bitcoins or ethers in a couple of minutes. Then it remains only to transfer this money to the exchange, where Cardano is traded.

Buying a Cardano via PayPal

The situation is the same as with the purchase of Cardano for cash or on a card. It is expected that in the future, as the popularity of crypto currencies grows, buyers will have more opportunities in this area.Now you can visit  LocalBitcoins  and  VirWOX , where  you can buy Bitcoins via  PayPal . After that you again need to transfer these bitcoins to one of the exchanges where Cardano is traded.

Step 3: Display ADA in your wallet

It makes sense to display tokens from the exchange in your wallet immediately after their purchase in order to fully control the situation. However, now there are not so many wallets for Cardano, and the only desktop is Daedalus. If you can install Daedalus on your computer, it’s probably better to translate all your tokens into it. If not, you will have to leave them on the stock exchange. Make sure that your account is securely protected.

The post Guide: How to buy Cardano Crypto Currency appeared first on 5 to 9 News.

This post first appeared on 5to9news, please read the originial post: here

Share the post

Guide: How to buy Cardano Crypto Currency


Subscribe to 5to9news

Get updates delivered right to your inbox!

Thank you for your subscription