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The crypto market has experienced rapid growth over the past few years, growing to reach a market cap of over 1.5 trillion dollars. Cardano is a coin that has been able to benefit from this growth, rising a whopping 5,900% since its inception to the market in 2017.
Don’t want to miss out on this high-growth opportunity? Then read on for our full article on how to buy Cardano (ADA). We will cover the best places to buy Cardano, its price, a price prediction, and finally a step-by-step guide on how to buy Cardano through eToro.
Where to Buy Cardano Coin in 2022
With Cardano experiencing such high growth since its inception in 2017, it has become a popular coin. Therefore, it is available on most crypto exchanges. It is important that investors choose the right broker for them, as they all vary in fees, functions, and ease of use. We have researched a list of our top 3 best brokers to buy Cardano with:
1. eToro – Our overall best broker to buy Cardano
2. Crypto.com – Earn cashback on Cardano when using the Crypto.com card
3. Binance – Trade Cardano on the world’s largest exchange
Where to Buy Cardano Coin - Top Exchanges Reviewed
Now we have outlined our top 3 best places to buy Cardano coin with, let’s take a deeper dive into each. We will cover some of the basic information about each broker, including the fees, ease of use, and pros and cons of each.
1. eToro
We recommend eToro as the best place to buy Cardano coin with in 2022. This is for a number of reasons. Firstly, it has an easy-to-use interface meaning that it is a great choice for beginner investors. Secondly, it gives investors access to over 2000 financial assets, including over 30 cryptos. It is also FCA Regulated meaning your funds are protected by the FSCS Scheme.
It also offers social and copy trading functions. Social trading allows investors to connect with eToro’s 30 million other users in over 140 countries to share trading advice and insights. Copy trading lets users directly copy some of eToro’s highest performing portfolios.
Considering eToro’s costs, it charges zero commission on all spread free trades. It makes most of its profit by charging a fixed spread on all trades. In addition to this, fees will be charged when investors want to withdraw funds from their account ($5 fee) or if users leave accounts untouched for over 12 months ($10 fee thereafter). However, these are the only costs investors need to be aware of.
Setting up an account is easy with eToro. Just visit either the smartphone app or website and follow the onscreen instructions. You will have to enter some personal details and ID to verify your account. Don’t worry – we will cover this in more detail later on in the article!
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
2. Crypto.com
Our second best place to buy Cardano coin is Crypto.com. With over 10 million users, it has solidified itself as a great exchange to trade crypto. It has over 150 coins for investors to choose from. In addition to this, it is available on smartphone and desktop, and is quick and easy to set up on each.
When investors set up an account with Crypto.com, they are given the option to receive a physical crypto.com card. When payments are made via this card, then users can receive cashback of up to 8%. This will be in the form of crypto transferred to your account.
Users of this cryptocurrency exchange can also receive interest on crypto such as stablecoins and earn 14.5% per annum.
Your capital is at risk.
3. Binance
Our third and final best broker to buy Cardano with is Binance. Being the largest crypto exchange in the world, it gives investors access to over 500 cryptos – a massive amount compared to most crypto exchanges.
Binance is good for both beginner and more advanced users. Binance basic mode can be selected for basic users, and a more complicated version – which includes more technical tools – for experienced crypto traders.
You can set up a Binance exchange account by visiting either the website or by downloading the smartphone app. You will have to verify your account by providing a valid form of ID. If you encounter any problems during these stages, then you can contact Binance’s dedicated 24/7 customer hotline.
Your capital is at risk.
What is Cardano coin?
Cardano (ADA) is a token running on the Cardano Blockchain. In a nutshell, Cardano’s global aim is to decentralize the internet. It has grown at an astonishing rate, currently occupying over 76 million users globally.
It was essentially developed to take over internet-based media sharing platforms such as Netflix and YouTube. By eliminating these corporate ‘middlemen’ it would be able to truly decentralise the internet. By doing this, content creators would not have to pay any transaction fees to Cardano.
Should I Buy ADA?
Cardano Coin benefits
As Cardano users grow one could expect the price of Cardanoix to increase accordingly. Considering the enormous target market that Cardano is aiming to subsume, even if it captured a fraction, it would be making great progress.
Cardano Coin risks
The wider crypto market is heavily volatile, and this is a risk that investors should be aware of before they purchase Cardano crypto. Therefore, proper risk management should be employed in order to keep assets safe.
The Verdict
Although there is a large element of risk associated with purchasing Cardano crypto, the massive real-world utility seems to outweigh this. In addition to this, this utility gives the coin a great foundation for longevity, which is a sought-after quality in all investments.
Cardano Coin Price
The current Cardano price is £0.92. This is up 3% for the week and 2% for the month. However, since its inception in 2017, Cardano has climbed an astonishing 5,900%!
Cardano Coin Price Prediction
It is tough to predict the price of such a risky asset, however considering the utility that Cardano holds, it could be a great long-term investment. In addition to this, the high security features of the coin, in addition to the large target market, could provide a solid basis for future growth to build upon. These factors can also help set Cardano aside from its competitors.
What’s more, this could mark a great entry point into a Cardano position for any portfolio. Also, the bullish trajectory of the crypto markets at current could help give Cardano a short-term nudge in value.
How to Buy Cardano Coin - Tutorial
Now that we have covered all the necessary information, let’s take a closer look at how to set up an account with eToro and buy Cardano coin.
Step 1: Set up your eToro account
In order to set up an account, visit the eToro website and follow the onscreen instructions. At this point you will have to enter some basic personal details.
Step 2: Verify your eToro account
Now you have set up your account, you must verify it. In order to do this you will have to provide two forms of ID, for example, a drivers license and a recent utility bill. eToro aims to have these documents verified as quickly as possible.
Step 3: Add funds to your account
At this point, your account is verified. However, you must add funds to it before buying ADA coin. Payment can be added using a variety of methods including debit/credit card, bank transfer, and e-wallets such as PayPal and Skrill.
Step 4: Buy ADA Coin for your wallet
Now you have funds in your account, navigate to the search bar and search for Cardano. Select it and fill out an order form to add Cardano to your wallet
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
This article is supplied by CryptoPR and is not necessarily representative of the views of The Herald
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