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How To Buy Cardano (ADA) and Everything You Need To Know

10 mins
Updated by Maria Petrova
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Cardano’s academic rigor is world-known. Instead of going full speed with branding initiatives and community-based shilling, this decentralized blockchain ecosystem relies on innovation and peer-reviewed use-case implementations. Simply put, Cardano is one of the more era-defining cryptocurrency projects around. But is this enough reason to buy Cardano or, rather, its native token, ADA?

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Methodology for selecting the platforms to buy Cardano

What is Cardano?

Cardano is one of the more intense, research-oriented, programmable, and credible proof-of-stake blockchains on the market. Its founder, Charles Hoskinson, also associated with Ethereum’s founding team, adds to the market presence. Even though Cardano was a tad late to the party of smart contracts, available only after the Alonzo fork of 2021, the chain ensured affordability by keeping the transaction costs on the lower side — an issue that still plagues Ethereum. 

Cardano is an open platform that seeks to provide economic identity to the billions who lack it by providing decentralized applications to manage identity, value, and governance.

Charles Hoskinson, founder of Cardano: Twitter

How does Cardano operate?

Cardano relies on a specialized form of proof-of-stake consensus — Ouroboros — with the aim of being energy-efficient. Plus, the blockchain brings forth a two-layer architecture — including a settlement and a computational layer. With this flexibility, Cardano can better manage network resources and ensure that the smart contract performances remain top-notch.

What Cardano is all about? Cardano
What Cardano is all about: Cardano

Cardano’s native coin, ADA, is meant to secure the network via Cardano staking. The crypto is also used for intra-blockchain transactions. If you plan to invest in Cadano, it is the ADA price forecast, short-term and long-term, that will be of most interest.

Did you know? Cardano’s much-anticipated Vasil had fork happened a week after the Etherem merge. This fork aimed at making the transactions more affordable while adding to Cardano’s scalability and throughput.

There are quite a few reasons that Cardano is among the top-rated blockchains and usually finds itself in the top 10 list by market cap. The reasons include:

Cardano's DeFi presence with SUNDAE: DeFillama
Cardano’s DeFi presence with SUNDAE: DeFillama

Comparing cardano with other cryptocurrencies

While Cardano does look like a promising project, let us understand how it compares against other cryptocurrency players.

Cardano vs. Solana

Cardano relies on a novel kind of PoS consensus. In comparison, Solana uses a proof-of-history consensus whilst combining the same with PoS. However, in terms of transaction throughput, Cardano still lags behind Solana, which is capable of hitting 65K per second.

Cardano vs. Ethereum

Often termed an Ethereum killer, Cardano was a tad late to bring smart contract functionality into the mix. However, it still boasts affordability courtesy of a deterministic fee model, which is a lot more accommodative compared to Ethereum.

Exploring the Cardano Ecosystem

With smart contracts coming to Cardano, post the Alonzo upgrade, Cardano’s ecosystem has demonstrably evolved. The blockchain also houses gaming and NFT platforms like SpaceBudz and relies on the inputs of an extended research group and community. Cardano even works closely with Oracle providers like Ergo for sourcing data into specific projects. 

Cardano’s DeFi presence

When it comes to the DeFi presence, Cardano finds a place in the top 20 list by total value locked. Two of its most reliable protocols or rather DeFi offerings include ADAX — an ERC-20 converter and DEX, and SundaeSwap, an automated market marker-powered DEX and a liquidity provisioning setup.

The Cardano Ecosystem: Cardano
The Cardano ecosystem: Cardano

Cardano wallets

If you have plans to buy Cardano (ADA), you should always try and store them safely. This is when choosing one of the best Cardano wallets, like YouHodler, Yoroi, and more, becomes important. While these are standard downloadable wallets, a better way to store them is to hold your ADA in a hardware wallet, preferably one from Trezor or Ledger

Staking or mining cardano

If you’re wondering how to mine cardano, know that this technically isn’t possible. Instead, you can stake cardano, as it is a PoS crypto. Staking your ADA adds to the network security. Also, if you want the Cardano staking convenience, holding ADA in wallets like Yoroi and Daedalus is a better option, as these wallets support direct wallet-based staking. 

Where to buy cardano?

If you are ready to buy cardano, the best method would be to onboard a centralized exchange (CEX). Our top options include:

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All of these options have been selected thanks to having strong offerings among a number of criteria. All have decent liquidity for purchasing ADA and are known to have solid reputations in the crypto industry. In particular, Binance stands out for its trading volume, while Coinbase is the best option for beginners looking to buy cardano with ease.

Buy Cardano from CEXs: Coinmarketcap
Buy Cardano from CEXs: CoinMarketCap

To buy cardano on a CEX, you should start by verifying your KYC credentials. Before proceeding with the buy order, you should also check the trading pair you are interested in and verify if that pair has decent liquidity. To buy cardano anonymously, you might want to consider DEXs like PancakeSwap.

How to buy cardano?

1. Open the Coinbase app, select trade, and choose cardano in the search bar.

buy cardano step 1

2. Select the amount you would like to purchase.

buy cardano step 2

3. Choose “Place Order” to complete your order.

buy cardano step 3

How to sell cardano (ADA)?

Selling cardano (ADA) involves placing a sell order — market or limit — on the exchange where you hold your ADA. Or, you can transfer ADA from your external wallet to the exchange, eventually selling for fiat. 

It is worth noting that Cardano trading is also possible on DEXs — both buying and selling. However, you will need a compatible wallet to connect to the concerned decentralized exchange. 

Here’s how to sell cardano on Coinbase.

1. Open the Coinbase app, search for Cardano in “Trade,” and select “Sell.”

sell cardano step 1

3. Type in the amount you would like to sell.

sell cardano step 2

3. Lastly, choose “Place Order” to complete your sell order.

sell cardano step 3

Cardano price prediction

Whether you wish to invest in ADA and hold long-term or indulge in cardano trading, our cardano price prediction can give you an idea of the prospects. If we look at the long-term picture, say up till 2035, our price prediction model foresees a strong price level of $22.04 for ADA.

Note that predictions, despite being based on technical analysis, fundamental analysis, and more, can only give potential indications as opposed to definites. Always do your own research. 

Buy Cardano on tracking the price history: Coinmarketcap
Buy cardano on tracking the price history: CoinMarketCap

Can cardano replace ethereum? And should you buy it now?

Even though cardano is quickly moving up the ranking charts, it is still way off Ethereum regarding market cap, DApp coverage, DeFi offerings, and more. However, as it is a tech-aligned blockchain, users looking to buy cardano (ADA) with a long-term vision might be better poised financially. 

Frequently asked questions

Can I buy cardano now?

Will cardano reach $10?

How can I buy cardano in the U.S.?

How much cardano will be in 2025?

Can Cardano hit $100?

Should I buy cardano or solana?

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Ananda Banerjee
Ananda Banerjee is a technical copy/content writer specializing in web3, crypto, Blockchain, AI, and SaaS — in a career spanning over 12 years. After completing his M.Tech in Telecommunication engineering from RCCIIT, India, Ananda was quick to pair his technical acumen with content creation in a career that saw him contributing to Towardsdatascience, Hackernoon, Dzone, Elephant Journal, Business2Community, and more. At BIC, Ananda currently contributes long-form content discussing trading,...