Cardano is one of the industry’s leading layer 1 blockchains. Discover more about Cardano, and learn how and where to buy ADA, Cardano’s native cryptocurrency.
Introduction to Cardano (ADA)
Cardano is a third-generation, layer 1 blockchain, created with the intention of improving the speed, scalability and interoperability of existing networks such as Bitcoin (BTC) and Ethereum (ETH).
ADA, Cardano’s native cryptocurrency, can be used as a secure exchange of value. Because of the network’s smart contract functionality, ADA can also be used on any number of the platform’s decentralised applications (dApps).
Any user, located anywhere in the world, can use ada as a secure exchange of value — without requiring a third party to mediate the exchange. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain.
Cardano.org
Cardano is a decentralised Proof of Stake (PoS) network. ADA holders offer their tokens as collateral, known as staking, to be in with the chance of validating blocks and transactions on Cardano.
To learn more about Cardano, take a look at our “What is Cardano (ADA)?” article.
Where to buy Cardano
Cardano’s increasing popularity — and significant price volatility — has caused a number of cryptocurrency investors to become interested in buying ADA. There are a number of options for purchasing ADA, although the primary method is by using a cryptocurrency exchange or trading platform, such as eToro.
There are two types of cryptocurrency exchanges: decentralised exchanges (DEXs) and centralised exchanges (CEXs). Both should allow investors to buy Cardano (ADA), but there are differences between the two that will determine which best suits you.
| Centralised Exchange (CEX) | Decentralised Exchange (DEX) |
|---|---|
| Supports fiat currencies | Greater transparency |
| Access to customer support | Censorship resistant |
| High liquidity | Non-custodial |
CEXs are often considered to be a safer, more beginner-friendly option compared to DEXs. Regardless of which option you choose on which to buy Cardano, remember to compare exchanges before depositing funds in your account. Make sure the platform definitely offers Cardano (ADA) and that the fee structure suits you.
How to keep and store Cardano
Once you have purchased ADA, it is imperative that you store your tokens safely. This process does not need to be difficult, assuming you know which options are available to you.
Depending on where you buy Cardano (ADA), you may be able to store your ADA directly on the platform itself. This is usually the case with centralised exchanges, which implement a range of security measures to ensure that your Cardano holdings are safe.
Alternatively, it might be worth exploring some of the various cryptocurrency wallets available to ADA investors:
- eToro Money: A multi-currency crypto wallet, available as an Android or iOS app. Investors can buy Cardano on eToro and transfer their ADA directly to the eToro Money crypto wallet using the same credentials.
- Daedalus: A single-asset desktop wallet created by IOHK. The Daedalus wallet was created to securely store ADA tokens and can be used to stake Cardano.
- Trust: A non-custodial, multi-chain wallet that can be accessed via the Trust Wallet app or as a browser extension. As well as storing ADA, Trust can be used to hold other cryptocurrencies such as Polkadot (DOT) and Dogecoin (DOGE).
Tip: Before choosing a cryptocurrency wallet, make sure you understand how to access your funds after you have transferred them.
Learn more about Cardano
Cardano is a smart contract-enabled platform, overseen by the Cardano Foundation, IOHK and Emurgo. It is designed to be a user-friendly system for making transactions, thus removing the need for third-party intermediaries. Cardano is designed for “banking the unbanked”.
There are many different resources available to those interested in learning more about Cardano:
| eToro Academy | Online | The eToro Academy is an excellent resource for new and experienced investors interested in Cardano, cryptocurrencies and general financial topics. |
| Cardano.org | Website | The official Cardano website can be used to learn more about the project. View the Cardano roadmap, learn more about ADA and read about the technology behind the network. |
| @CardanoFoundation | YouTube | The official Cardano Foundation YouTube channel, providing tutorials, updates and information to those potentially interested in buying ADA. |
How to buy Cardano (ADA) on eToro
eToro is widely considered one of the best places for buying Cardano (ADA). It is a secure, user-friendly platform for investing in cryptocurrencies and other asset classes.
Complete the following steps to buy ADA on eToro:
- Create an eToro account
Register for an eToro account by adding your personal details and verifying your identity. - Deposit funds
Click the “Deposit Funds” button and add your chosen fiat currency to your account. - Buy Cardano (ADA)
Visit the Cardano (ADA) page by accessing it through the “Cryptocurrency” market or by using the search bar. Click “Trade” and decide how many ADA tokens to buy. - Transfer ADA to eToro Money
Once purchased, consider downloading the eToro Money crypto wallet and transferring your Cardano (ADA) for safekeeping. Alternatively, your ADA will be perfectly safe on the eToro platform.
Final thoughts on investing in Cardano
Cardano is one of the most talked about cryptocurrencies, and for good reason. The project’s developers are taking a methodical approach to scaling up the network, and the price of ADA has historically moved in line with the wider crypto market — with considerable volatility.
Remember, however, that you should not invest more than you can afford to lose. Despite its previous success, there is no guarantee that buying Cardano will return a profit.
Learn more about Cardano (ADA) and other cryptoassets on the eToro Academy.
FAQ
- Should you buy Cardano (ADA)?
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There are many who believe that ADA is a great option in terms of cryptocurrencies to invest in. It is a fast, affordable and decentralised blockchain network with clear goals and a reputable team behind it. However, there are other platforms that are quicker (Solana) and have a more diverse ecosystem (Ethereum), so it is important to do thorough research before choosing to buy Cardano (ADA).
- What is the Cardano roadmap?
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Cardano’s long-term development was split into five key themes, each of which focuses on a particular functionality:
- Byron — establishing the foundation of the network
- Shelley — ensuring the network is decentralised
- Goguen — implementing smart contract functionality
- Basho — improving network scalability
- Voltaire — handing over governance to the Cardano community
- Is Cardano (ADA) better than Solana (SOL)?
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Solana shares many similar properties with Cardano, so the two networks are often compared to one another. Solana has faster transaction speeds, lower costs and a thriving non-fungible token (NFT) ecosystem, which has led to many arguing that it is the superior blockchain. However, Solana has previously experienced a number of network outages, while Cardano is widely considered to be more secure and reliable.
This information is for educational purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to, buy or sell any financial instruments.
This material has been prepared without regard to any particular investment objectives or financial situation and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Not all of the financial instruments and services referred to are offered by eToro and any references to past performance of a financial instrument, index, or a packaged investment product are not, and should not be taken as, a reliable indicator of future results.
eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this guide. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose.