How to Buy Cardano in the UK?
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What is Cardano?
Cardano (ADA) is a decentralised platform that enables complex programmable value transfers in a secure and scalable manner. Founded by Charles Hoskinson, its development began in 2015 under the leadership of Charles Hoskinson, and the project received $60 million in funding during an ICO in 2017. Hoskinson is also known as one of the founders of Ethereum.
Cardano is the first blockchain platform to be born from a scientific philosophy and research approach, and one of the first platforms to be built on the Haskell programming language. Cardano is developing a smart contract platform with more advanced functionality than any of the current protocols. The development team is a large, global team of experienced engineers and researchers.
The protocol is based on a multi-tiered software blockchain stack that is flexible, scalable and designed to meet the most rigorous academic and commercial software standards in the industry. Cardano uses a democratic governance system that allows the project to evolve over time and fund itself sustainably through the treasury system. Cardano also combines the protection of user privacy with the need for regulation, so that Cardano's regulated computing style promotes greater financial inclusion.
Cardano is backed by three organisations that are divided in both ownership and governance. Cardano Foundation is an independent Swiss organisation that regulates the development of the Cardano ecosystem, IOHK develops and deploys Cardano, and Emurgo is the commercial arm that supports Cardano in commercial projects. The Cardano development roadmap is divided into five eras: Byron, Shelley, Goguen, Basho and Voltaire. Each epoch has its own unique set of features that will be introduced and supported in several code releases in turn.
Development for all epochs is being done in parallel. Cardano also has its own blockchain viewer with which users can check the history of ADA transactions that are publicly recorded on the blockchain.
Where to buy Cardano?
Like any other cryptocurrency, Cardano can be bought on a specialised exchange. In this article, we will look at what you need to do to buy Cardano, step by step.
Cardano is a new project, and a lot of it is still under development. Therefore, there are not many wallets for storing Cardano tokens, called ADA.
The only desktop wallet for Cardano is Daedalus. It can be downloaded from the wallet's separate website. It is an open-source cryptocurrency wallet specifically for ADA. It is expected to evolve with the project and become a universal wallet, blockchain application platform and app shop. Daedalus wallet is available for Windows, Mac and Linux. Desktop wallets are generally more secure than web wallets, but they can also be hacked.
The best way to store cryptocurrency is in a hardware wallet, because it is offline and protected from viruses and hackers. So far, hardware wallets do not have full ADA support.
Wallets such as the Trezor Model T, Ledger Nano S and Ledger Nano X can store coins, but need to connect to third-party services - Yoroi Wallet, Adalite or Daedalus - to acquire them.
Web wallets are very convenient to use as they can be checked anywhere and anytime with the internet, but they are the least secure against hacking. That's why it's worth using Yoroi Wallet, which is recommended by the Cardano developers, to work with ADA. It is available as a browser extension for Chrome, Edge and Firefox.
There is also the Adalite browser-based wallet, created by the development team of the Cardano-friendly project Vacuumlabs. Adalite offers users online cryptocurrency storage.
Cardano developers suggest using Yoroi Wallet for Android and iOS as a mobile wallet for ADA. This will allow users to easily check their account balance and make transfers.
Exchanges to buy Cardano
Bittrex is a US-based cryptocurrency exchange that has been in existence since 2014, where many currencies are traded. On Bittrex, ADA can be bought for bitcoins and USDT. You cannot pay here in fiat money, so if you don't have BTC or USDT, you have to buy one of these cryptocurrencies (via bank transfer, credit card, etc.) and then transfer it to Bittrex.
It's hard to believe that Binance was only launched in 2017. In a short time, this Shanghai-based cryptocurrency exchange has become one of the most popular trading platforms. Several dozen cryptocurrencies can be bought on Binance, including ADA, which trades in pairs with both bitcoin and ether. Unfortunately, you can't buy it with fiat currency, but at least this exchange is relatively easy to use, and commissions are small.
Capital.com allows you to trade many assets, including cryptocurrencies such as Cardano. With Capital.com, you have access to hundreds of cryptocurrency pairs, making this exchange a worthy choice for cryptocurrency trading.
The platform is easy to use and the transaction fee is 0%.
Libertex is another investment platform that is widely popular. The platform has more than 2.9 million customers in 120 countries.
Libertex has been around for over 20 years and is regulated by CySEC, making it a solid choice if you want to buy Cardano.
Libertex traders have access to the MetaTrader platform. With this platform, you will have full access to the MetaTrader Marketplace, a platform with algorithmic trading capabilities.
The investment platform allows you to start trading with a deposit of just £100. You can easily deposit via debit and credit cards, e-wallets or bank transfer.
However, it should be noted that Libertex is not available to US traders, so those living in the US will have to use another platform to purchase Cardano.
CEX.IO is a popular cryptocurrency exchange that provides a simple mechanism to buy cryptocurrency. To buy Cardano on CEX.IO you should:
CEX.IO supports many payment methods: credit and debit cards, SWIFT, Skrill, EPay, ACH Transfer.
Huobi is one of the leading cryptocurrency exchanges, which stands out from many competitors for its functionality. Cardano can be purchased on the platform on the spot market, P2P, as well as in the quick buy for fiat section. To take advantage of the latter option, you should:
KuCoin is one of the most well-known cryptocurrency exchanges with rich functionality. There are three ways to buy ADA on this platform - through quick fiat, spot or P2P markets. To make a purchase you need to:
KuCoin offers many payment options, including bank cards, Apple Pay, SEPA transfers.
The EXMO cryptocurrency exchange is focused on the CIS market, so it can offer some of the most convenient conditions for residents of these countries. To make a purchase on the platform, one should:
EXMO has many payment methods convenient for CIS countries residents: bank cards and transfers, payment systems Advcash, Payeer, Kiwi, EXMO codes and many more.
The popular crypto exchange OKEx lets you buy a range of digital assets in a few clicks with card payments, and has a spot and P2P market. However, Cardano cryptocurrency is not yet available in the instant purchase section.
You can only buy the coins on the spot market. To do so, you should:
You may deposit to OKEx via cryptocurrencies, payment systems, bank cards.
Bitfinex is one of the oldest cryptocurrency trading platforms. The exchange has a rather complicated interface for newcomers, but this can be overlooked because of the platform's functionality.
To buy ADA on Bitfinex, you need to:
You can also buy ADA in the trading terminal of the platform. Payment options: cryptocurrencies and bank cards.
How to buy and sell ADA on the online exchange
You can buy or sell Cardano at online exchangers. Nowadays, the choice of exchangers is very wide, so when choosing a service, consider such parameters as: security, reliability, reputation.
List of proven online exchangers:
Let's take ProstoCash as an example to show how to buy ADA on an online exchange:
Withdrawing ADA to your wallet
It makes sense to withdraw tokens from the exchange to your wallet as soon as you buy them, so that you are in complete control. However, there are not many wallets for Cardano right now, and the only desktop one is Daedalus. If you can install Daedalus on your computer, it's probably best to transfer all your tokens into it.
You can also use Trezor Model T, Ledger Nano S and Ledger Nano X hardware wallets. If you decide to use online wallets or a smartphone app, make sure your account is secure.
Where to keep Cardano
In most cases, once purchased on the exchange, Cardano coins will be deposited into the platform's internal wallet. Please note that the exchange wallet is designed for convenience, easy purchase and deposit, but is not a safe place to store cryptocurrencies. It is recommended to store ADA in a private wallet, the secret key of which only you know.
There are many cryptocurrency wallets that allow you to store ADA. We recommend opting for the Ledger hardware wallet. It allows you to store cryptocurrencies on hold, which gives them maximum protection from hackers.
How to choose the best time to buy ADA
Cryptocurrencies are highly volatile and sometimes it counts for seconds when choosing the best time to buy. Determining the right time to buy a cryptocurrency can help:
Tips for buying and storing ADA safely
All cryptocurrency transactions require strict security practices:
Should I invest in Cardano?
Investing in Cardano now could be a wise decision, as the cryptocurrency is predicted to continue to rise in value. Cardano's blockchain innovation also makes it a good choice for cryptocurrency investment.
Is it too late to invest in Cardano?
It's not too late to buy Cardano. Although the cryptocurrency has risen sharply recently, it is predicted to continue to rise in value. Now is a good time to buy Cardano.
What is the best way to invest in Cardano?
The best way to invest in Cardano is to buy Cardano from Capital.com. The platform makes it easy to buy Cardano and is regulated by the FCA, ASIC and CySEC, making it safe to use.
Cardano is a unique investment project that aims to create a new form of blockchain infrastructure that combines the benefits of many advanced technological and mathematical concepts.
Cardano is slowly but surely climbing the "career ladder" and is now one of the most prominent blockchain platforms outside of the big two (Bitcoin and Ethereum).
Cardano may not succeed overnight, but it has enough merit to compete with the most popular cryptocurrency projects.