Where to Buy Cardano
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You can buy Cardano (ADA) on several popular exchanges, each with different fees and features. Kraken and Coinbase are solid choices depending on your preferences and region.
Do your own research on fees, security, and convenience before buying ADA to ensure you're getting the best deal for your needs.
Why trust our crypto tax experts
I recently decided to add Cardano (ADA) to my crypto portfolio, and after researching several exchanges, I found a few that offer the best options for buying ADA. This article walks you through my experience of buying Cardano, where I bought it, why I chose the platforms I did and tips to help you make the most informed decision.
This article is for general purposes only and does not constitute financial advice. Always do your own research before undertaking any activity in crypto, and know the risks involved.
Cardano basics
Cardano (ADA) is one of the top cryptocurrencies by market cap, and its eco-friendly, proof-of-stake blockchain has earned it a strong reputation among crypto enthusiasts. It was designed to be more scalable and sustainable than blockchains like Bitcoin and Ethereum, making it a popular choice for developers and investors.
I was drawn to Cardano because of its energy efficiency and peer-reviewed development process. The Cardano network is built to support decentralized applications (dApps) and smart contracts, offering meaningful long-term potential. Its native token, ADA, powers the platform's governance and staking features, adding utility to my crypto investments.
Cardano's layered architecture is another reason I decided to invest. Cardano improves scalability and security by separating the ledger (where account balances are stored) from the computation layer (which processes transactions and smart contracts), making it a robust and forward-looking platform.
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Where can I buy Cardano?
After deciding to buy Cardano, my next step was to choose the right exchange. There are several platforms where you can purchase ADA, but I was looking for a combination of security, ease of use, and fair fees.
I chose Coinbase due to its reputation as one of the most user-friendly and reliable platforms for beginners. Coinbase is a great choice, especially for those new to crypto. Its straightforward interface makes it easy to navigate the process of buying Cardano.
While Coinbase's fees can be slightly higher than other exchanges such as Kraken or Crypto.com, I found the ease of use and strong security features worth the trade-off. Coinbase’s vast educational resources are a bonus, particularly for those new to crypto.
Learn more: does Coinbase report to the IRS?
Best exchanges to buy Cardano
If you want more options, check out our expert picks of the best crypto exchanges, where we compare top exchanges based on fees, security, and overall features to help you find the best fit for your needs.
How to buy ADA
Buying Cardano on Coinbase is a straightforward process that only takes a few simple steps. Here’s how I did it:
Sign up for a Coinbase account: First, I created an account on Coinbase. The sign-up process was easy and required me to verify my identity with a government-issued ID.
Add a payment method: After signing up, I connected my bank account to fund the purchase. Coinbase also supports debit cards and wire transfers, but bank transfers are the most cost-effective option.
Buy ADA: Once my funds were available in my Coinbase account, I searched for Cardano (ADA) in the "Buy/Sell" section. I entered the amount of USD I wanted to invest and placed a market order to purchase ADA at the current price.
Store your ADA: After my purchase, I could keep my ADA in Coinbase's online wallet or move it to a more secure, external wallet. I decided to store it in a hardware wallet for added security.
If you prefer convenience, Coinbase's built-in wallet is a good option for short-term storage, but moving more significant amounts of crypto to a secure, offline wallet is always a good idea.
Looking to calculate your crypto profit? Try our free crypto profit calculator.
Why you should buy Cardano
I was initially attracted to Cardano for its scalability and energy efficiency, but after doing more research, I found even more reasons to add ADA to my portfolio. The blockchain's scientific approach and focus on security make it a potentially solid long-term investment, especially as more dApps are built on the platform.
But buying Cardano isn't just about its tech. There are tax considerations to consider, which is why I consulted with TokenTax.
Ty Gaines' expert take
"At TokenTax, clients come in not knowing how much they can save on their crypto taxes with the right strategies. One of the most important things we do is help people take advantage of tax loss harvesting and HIFO accounting, which can significantly lower tax bills. It's essential to keep complete records of your crypto activity and understand the tax rules to minimize your taxes and stay compliant with the IRS."
— Ty Gaines, EA, Tax Expert at TokenTax
Understanding how Cardano fits into your broader investment strategy is key. Cardano's low energy consumption and growing adoption were compelling reasons to add ADA to my holdings.
Cardano price predictions
The price of ADA can be volatile, just like any cryptocurrency. While I bought in at a favorable price, I always remind myself that crypto investments are inherently risky. Cardano's price could fluctuate wildly depending on market conditions and developments in the broader blockchain space.
Some analysts predict that Cardano could rise significantly over the next few years, especially as more developers build on the platform. However, I always recommend doing your own research before making any investment decisions.
Cardano price
Crypto prices are famously volatile. Monitoring the market is critical to making informed decisions. At TokenTax, we do not give investment advice, and this article is meant to serve as general information about where and how to buy Cardano. Always conduct your own research and understand the risks involved before investing in crypto.
How high could Cardano go?
There's no way to predict how high Cardano's price could go, but based on its current trajectory, it has strong long-term potential. The continued development of Cardano's ecosystem, including upgrades like Hydra, could boost the price of ADA.
While some experts are optimistic about Cardano reaching new heights, I always remind myself not to get caught up in the hype. I focus on the technology's long-term viability rather than short-term price swings.
Where to buy Cardano FAQs
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