Do you believe that Cardano will be the next big cryptocurrency and are unsure of where to buy Cardano or how to buy it? Fear not, the TotalCrypto team have done all the research and we will show you how.
- 1 Is It Too Late To Buy Cardano?
- 2 Cardano Price Prediction 2018: How High Could ADA Go?
- 3 Where To Buy Cardano Coin – Our 2 Favourite Ways Explained
- 4 Create A Coinbase Account
- 5 All Set On Coinbase? What Now?
- 6 Setting Up An ADA Coin Wallet
- 7 Getting Your Binance Account Good To Go
- 8 Transfering Funds From Coinbase To Binance
- 9 How To Buy Cardano ADA With Binance?
- 10 How To Withdraw Your Cardano Off Binance?
- 11 Conclusion
Is It Too Late To Buy Cardano?
Cardano has actually only been tradable on cryptocurrency exchanges since the first of October 2017. That’s not very long at all. To put it into context, Cardano doesn’t even have a working product yet. That’s how early you are to the Cardano party.
As an unknown cryptocurrency, ADA coin began trading on crypto exchanges priced at just two cents a coin in early October 2017. Obviously, most of us will be kicking ourselves for not getting in at this super cheap price. However, Cardano got an awful lot of hype in December and January 2018 and this saw price soar to $1.22 per ADA coin on the 4th of January 2018. Since then the overall cryptocurrency market has taken a nosedive and this has seen ADA coin plunge to just 13 cents a coin at the time of writing. Where some may see a challenging environment for Cardano investors, others will see an opportunity to pick up ADA coins on the cheap.
TotalCrypto is constantly on the lookout for potentially game-changing projects trading at large discounts. We believe that Cardano currently offers an excellent opportunity to get into a promising third generation protocol at a significant all-time high discount.
In short, the Cardano project is only just beginning and is set to launch its product in the near future. Sure, you may want to check out how the main net launch goes before dipping your toes in the water. However, you are certainly not too late to buy Cardano. A successful product launch and a rising cryptocurrency market could see Cardano reach new highs. It may even live up to it’s billing as a future Ethereum killer and we all know how valuable that cryptocurrency project is.
Cardano Price Prediction 2018: How High Could ADA Go?
Most people know that Cardano is building a super fast public blockchain that allows decentralized apps to be built on it. This puts it in direct competition with Ethereum.
However, what a lot of people do not know is that Cardano is attempting to find a way for different cryptocurrencies to communicate with each other. Cardano has the potential to be the glue that holds together the entire cryptocurrency world together. Just so you understand how important this is, the only way to transfer value between different cryptocurrencies is by using a cryptocurrency exchange. This makes these value transfer hubs the kingmakers of the cryptocurrency world. This is maybe slightly worrying seeing that they are vulnerable to being hacked.
That’s not all. Cardano is also looking at becoming the bridge between the cryptocurrency world and traditional financial systems. They intend to do this by giving users the option to select a transaction option that will comply with all banking regulations. This should not only help the adoption of cryptocurrency but also make the space much more respectable to traditional financial institutions.
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All this means that if Cardano is successful, then it could have significantly more utility than Ethereum and be widely respected by the non-crypto world. If Cardano achieves what it has set out to, it would not be a stretch to think that that it can become more valuable than Ethereum or even Bitcoin.
The truth is that no one knows how high ADA coin could go in 2018. However, TotalCrypto believes that we are only one major event away from another incredible bull market and we fully believe that this will see ADA coin hitting new all-time highs.
Where To Buy Cardano Coin – Our 2 Favourite Ways Explained
The best place to buy Cardano will depend on whether or not you already have some Bitcoin or Ethereum that you want to trade for ADA coin.
Our first way of buying Cardano is suited to investors who want to buy with regular currency like the USD. You should know that it’s incredibly hard to buy ADA coin directly with fiat currency and instead you will have to swap your fiat currency for Bitcoin or Ethereum, then trade this for Cardano on another exchange. Our favorite platform to buy Bitcoin or Ethereum with regular currency is Coinbase. The TotalCrypto team really do think Coinbase is the most beginner friendly way of getting into the cryptocurrency market and is certainly our first port of call when converting our GBP to crypto.
For those that have some Bitcoin or Ethereum already, we know that you are just interested in the best cryptocurrency exchange to buy ADA coin. Just skip over all the stuff about Coinbase in this guide and we will show you how to buy Cardano on the Binance exchange.
Create A Coinbase Account
Coinbase Key Facts:
- Great Reputation: Coinbase is the world’s favorite way to get into cryptocurrencies. The company was founded in 2012 and is one of the most established companies in crypto.
- Beginner Friendly: The interface is clean and simple. This makes buying crypto a breeze.
Small Minimum Deposit: On Coinbase you can invest in cryptocurrencies with as little as €6.
- Regulated: The exchange is one of the few that are fully compliant with regulations.
- Insurance: If you want peace of mind Coinbase has you covered. US customers have balances of up to $250k insured.
- How To Deposit: Bankcard, bank transfer & PayPal for US customers.
- Available Cryptos: Bitcoin, Ethereum, Bitcoin Cash & Litecoin.
Spend Over $100 On Cryptocurrency With Coinbase & Get $10 FREE When Signing Up With TotalCrypto.
Need a hand with getting your Coinbase account good to go? Just read our guide.
All Set On Coinbase? What Now?
Now you have created your Coinbase account, the next step is to buy either Bitcoin or Ethereum on the exchange. Once we have done this, our plan is to send this to Binance, where we can finally buy our ADA coins.
The Easiest Way To Buy Bitcoin Or Ethereum Using Coinbase
- Click on the ‘buy/sell’ page of your account.
- Add your preferred payment method to your account.
- Choose a deposit method: For those of you who want the cheapest way to transfer money to Coinbase, we recommend using a bank transfer. However, be aware that this method means you waiting for two to five days for the funds to hit your account. If you want to buy cryptocurrency instantly, then deposit using a debit card or PayPal. Once you have entered your payment details and have sent the deposit to Coinbase, just sit back and wait for the funds to hit your account. Coinbase will also send you an email when your deposit has been successful.
- After your funds have been credited to your account, click Bitcoin or Ethereum in the ‘Buy/Sell’ area of Coinbase.
- Input the amount of money you wish to spend on the selected cryptocurrency.
- Choose the wallet you deposited funds into as the payment method.
- Finish your buy order by hitting “Confirm Buy”.
If you are interested in keeping fees as low as possible, then you will want to buy your Ethereum or Bitcoin on CoinbasePro (formerly GDAX). This is a slightly more complicated process. However, we do walk you through all the steps in our Coinbase guide.
When you have finally got your Bitcoin or Ethereum on Coinbase, you are ready to move onto the next stage.
Setting Up An ADA Coin Wallet
The official Cardano wallet is called the Daedalus wallet and has been developed by the Cardano team. The TotalCrypto team believes that this is the best option to store your ADA coins. We have even created an article to show you how to set this up.
Getting Your Binance Account Good To Go
By now, you should have your Bitcoin or Ethereum on Coinbase and have your Daedalus wallet set up. The next step is to set up a Binance account and here you can finally buy Cardano. On Binance, we will then trade our Bitcoin or Ethereum for ADA coins.
Why have we chosen Binance as the top place to buy ADA coins? Well, not only is Binance the most popular exchange in the world, it also has the largest Cardano market as well. The exchange is also a common favorite amongst cryptocurrency investors due to its user-friendly design, first class customer communication, and a top-notch reputation.
Binance also takes security exceptionally seriously and was the first exchange to undergo a full audit of all their smart contracts. It is moves like this that have resulted in Binance showing competitors the right way to run a cryptocurrency exchange. Home to over 60% of the total Cardano trading volume, Binance is the undisputed go to exchange to buy your ADA coins.
Binance Key Facts:
- The Biggest Exchange In The World: Binance has the highest crypto trading volume in the world.
- The One Stop Shop: Over 100 different cryptocurrencies are available on the exchange.
- Easy To Use: The exchange has won much praise for being simple and straightforward to use.
- Customer Support: Binance has invested in multi-language support.
Why Not Buy Cardano Coin On The World’s Favourite Crypto Exchange?
Need a walkthrough to get started on Binance? Our comprehensive guide shows you how to get things set up.
Transfering Funds From Coinbase To Binance
Now that your Binance account is ready to go, all you need to do is to get your Bitcoin or Ethereum on the exchange. It doesn’t matter if your funds are in a wallet or on Coinbase, the process to send funds to Binance is the same. We will show you how to find your deposit address on Binance and how to send crypto from Coinbase:
How To Find Your Binance Deposit Address:
- Make sure you are logged into your account.
- Select “Funds” and click “Deposit”.
- Warning: Ensure you select Ethereum if you hold Ethereum or Bitcoin if you hold Bitcoin. If you select the wrong wallet then you will lose your funds.
- Your Binance deposit address will then be shown. Just copy this address.
How To Send Funds From Coinbase:
- Make sure you are logged into your account and select the ‘Accounts’ tab.
- Click the send button for the cryptocurrency you own.
- Paste your Binance deposit address into the ‘Recipient’ wallet address box and enter the amount to send to Binance.
- Finally, click ‘Continue’ to process the transaction. Your funds should show up in your Binance account in a few minutes.
Is Your Ethereum Or Bitcoin In Another Wallet?
Just send your cryptocurrency to your Binance deposit address and you will be good to go in no time.
How To Buy Cardano ADA With Binance?
It’s now time to buy Cardano coins. Just follow the three steps below and you will have your ADA coins in a flash.
- Make sure you are logged into your account and go to the Binance homepage. You should then be able to see a selection of cryptocurrency markets. Choose the ‘BTC Markets’ if you have Bitcoin on Binance or ‘ETH Markets’ if you are holding Ethereum. Then just type in ‘ADA’ into the search bar and choose the ADA/ETH or ADA/BTC market.
- You will now see a trading screen. Just select the ‘Market’ tab – this allows you to buy ADA coins at the market price. Then enter the number of coins you wish to buy. There is also an option to use a certain percentage of your Binance balance to buy your Cardano with.
- Hit the ‘Buy ADA’ button to finish your order and your Cardano will then be credited to your account.
How To Withdraw Your Cardano Off Binance?
Now that you have solved the problem of how to buy Cardano, the next thing to consider is where to store your ADA coins? Even though we love Binance, the TotalCrypto team recommend that you store your ADA coins in the Daedalus wallet you have set up.
A fair question is ‘why would you bother storing cryptocurrency off the exchange?” The main reason to do this is that cryptocurrency exchanges do sometimes get hacked. It is maybe not that surprising that exchanges are big targets for hackers, given that these exchanges hold 10’s of millions in customer funds. The question is if you trust an exchange more than yourself to keep your funds safe?
If you don’t want to take the risk of keeping your Cardano on Binance and want to transfer it to your Daedalus wallet. Just follow the steps below:
- Copy your public address from your Daedalus wallet.
- Login to your Binance account.
- Click ‘Funds’ in the top navigation bar and select ‘Withdrawals’.
- Choose ADA from the drop-down. Then paste your Cardano wallet public address into the ‘ADA Withdrawal Address’ box. Once you have keyed in the number of ADA coins you want to withdraw, hit the ‘Submit’ button and your ADA coins will be sent to your wallet.
Binance withdrawal fees: The exchange will charge you to withdraw your coins. The fee regularly changes. You can double check the fee you will pay here.
The TotalCrypto Team cannot wait to see what the Cardano team produce in the future. We really do feel like this could be a game-changing cryptocurrency. The hope is that ADA will not only start challenging Ethereum as a top application developer platform but will also be the glue that holds different cryptocurrencies together. We love how Cardano is focusing on operating alongside the traditional financial system and is actively trying to comply with banking regulation. This will hopefully help with overall cryptocurrency adoption and, if properly executed, will ensure that Cardano will play a key role in the crypto world for many years to come.
Will Cardano live up to the expectations of investors and the community? No one knows. However, the scientific methods that Cardano are using to build their product should give them an even better chance of succeeding. The project’s founder, Charles Hoskinson, is one of the most well-respected people in cryptocurrency after all. After co-founding Ethereum and Bitshares, Cardano could be the crypto project that tops them all.