How to buy Cardano (ADA) – Trading tutorial

The cryptocurrency market is fast evolving and currently, the market is made up of hundreds of thousands of blockchains. The growing number of these projects can make it confusing for curious investors to choose a suitable alternative. Cardano (ADA) is one of the top crypto projects that are attracting public attention and a massive following. This article provides an all-inclusive information about the blockchain project and discusses the tech model it follows and throws light on why many enthusiasts think the future is bright for Cardano.

Cardano is an open-source platform with multi-layer blockchain computing developed by IOHK that can be used for decentralized transactions and financial transactions. ADA is Cardano’s own cryptocurrency token and the platform can be used to create and execute smart contracts, Apps, and more.

Cardano is essentially a competitor to Ethereum, and, like Ethereum, is intended to perform blockchain financial transactions and create and maintain decentralized blockchain-based computing programs (computer programs that are coupled to computers around the world using blockchain technology). It is a decentralized platform. Cardano is an ambitious project looking to combine most of the cryptographic functions into the third version.

Cardano landing page

What is Cardano (ADA)?

Cardano is an open-source cryptocurrency network and project that wants to launch a public blockchain platform for smart contracts. ADA cryptocurrency is the name of Cardano’s internal cryptocurrency. Cardano is a proof-of-interest blockchain platform that aims to enable “change producers, innovators, and visionaries” to achieve positive global change.

Cardano was developed to provide a similar service as Ethereum. It is the primary peer-peer decentralized blockchain to utilize the scientific peer review approach. The blockchain creators’ key intention was to develop a blockchain platform, which is highly scalable with the ability to execute extra numbers of transactions at minimal costs. The platform also has a smart contract and distributed ledger technology features that help to keep users’ data a lot more secure. The open-source project also aims to “redistribute power to individuals in unexplained surrounding structures”, contributing to creating a safer, more transparent, and fairer society.

Cardano was launched in 2017 and ADA tokens are designed to allow holders to participate in the network. Because of this, cryptocurrency holders have the right to vote on any proposed software changes. The team at the multi-tiered blockchain says there are already several convincing applications for decentralized applications and technologies that aim to ensure that smart contracts are designed in a modular structure.

The members of the Cardano network can create smart contracts, build decentralized apps or protocols on the platform. Users can transfer and receive money on the platform with ease. The Utility token of Cardano is referred to as ADA, and it facilitates the transfer of value on the platform. However, its mode of operation is different from those used by numerous crypto coins in terms of functionality. It is mainly utilized by pool stakes to improve protocol security. Betting operators use it in betting systems to ensure the security of the protocol. Holders of ADA tokens who stake their coins on the blockchain use them to confirm transactions.

Trade more than 100 different cryptocurrencies CFDs on professional platforms:

(Risk warning: 78.1% of retail CFD accounts lose money)

Cardano use case (ADA)

Outdated central structures and governance practices face a lot of challenges such as poor governance, excessive manual workflows, limited transparency, process efficiency, high cost, scam, and breach of information. Cardano aims to minimize and eliminate these issues.

Being an open-source platform that enables the creation of smart contracts, it offers abroad collection applications for solving problems that different industries are experiencing. It has application in the educational system, retail industry, agriculture, healthcare, politics and government, and in the Fintech sector.

Cardano Coin

Prevents unhealthy imitation and fake

The Cardano-backed company, also known as IOHK provides Atala SCAN. It is a fake-proof system that protects trademarks and buyers from counterfeit products in retail by establishing a verifiable system with the origin of the product:

  • Education: Cardano is highly useful in the educational system through its offering known as Atala PRISM, an identity and credentialing solution, which provides academic certification in an error-free platform.
  • Governmental Organization: Atala PRISM is utilized by the public sector for a reliable publishing and verification system, so you don’t rely on publishing agencies.
  • Digital Identity: Cardano as well digitally identifies with a population of people with no bank account in developing countries like Africa and Asia. The company began to work in fifty-four countries worldwide to create a blockchain management tool.
  • Agriculture: It is equally useful in the Agricultural industry, where it is used to certify and track products using the Atala Trace or EMURGO technologies.

The health industry can utilize the Atala SCAN to certify and verify where drugs originate from and trace its movement all through the supply chain of pharmaceuticals to ensure patient safety around the globe. In general, the Cardano ADA token may be used as a voting tool for ADA holders for paying, spending, selling, or changing and developing ecosystems. This helps maintain security by managing blockchain transactions stacked by stock fund operators who receive additional ADA coins as rewards.


ADA coins can be saved on various cryptocurrency exchanges or wallets, but Cardano offers its own wallet referred to as Daedalus for storage as investment vehicles. Token holders can earn coins by delegating ADA or by launching a stock fund in Daedalus’ wallet.

Trade from 0.0 pips over 3,000 markets without commissions and professional platforms:

(Risk warning: 78.1% of retail CFD accounts lose money)

Comparing Cardano investment with other Altcoins

Cardano has long been in the top 10 on CoinMarketCap, so it has few competitors. It is also almost identical to ripple, Tether, Litecoin, BTC Cash, and Chainlink in terms of market value and MARKET CAP. That said, bitcoin and Ethereum market cap are higher, but ADA‘s market cap recorded more profits by 2020.

Ethereum and ADA’s growth surpassed that of Bitcoin in 2020. Bitcoin grew by more than 300% and Ethereum price rose by 450%. Cardano is more on the extreme side with a growth of more than 500%. Litecoin and ripple recorded a more than 270% increase. The trend in the crypto market was generally bullish. All major altcoins attract investors and profits, but Cardano recorded the fastest growth. Of course, this is an indication of how profitable it would be to invest in the coin.

Currency chart and price analysis

After the January all-time high of 1.33 USD in 2018, Cardano’s value steadily declined, hitting a low of 0.027 USD on the 15th of Dec., 2018. Cardano began at the rate of0.032 USD per ADA coin and reached $0.181 on November 24th. It has since decreased to $0.128 and has since risen and fallen from 0.131 USD to 0.16 USD.

How many Cardano (ADA) coins are in circulation?

The highest supply is ADA 45 billion, but at the time of writing, about 31 billion are in circulation. There were five public sales of Cardano tickets from September 2015 to January 2017.

About 2.5 billion ADAs have been allocated since the start of the IOHK network. Meanwhile, Emergo, a global blockchain technology company that co-founded the Cardano Protocol, received an additional $2.1 billion. Finally, 648 million ADAs were donated to the non-profit Cardano Foundation to promote the platform and increase adoption. About 16% of the total ADA proposal was passed on to the project’s founders, and the remaining 84% was distributed to investors.

Trade from 0.0 pips over 3,000 markets without commissions and professional platforms:

(Risk warning: 78.1% of retail CFD accounts lose money)

Where can I buy Cardano (ADA)?

Being one of the largest cryptocurrencies in the world in terms of market value, a few problems are buying ADA on major exchanges including Binance, Bittrex, eToro, and HitBTC.

If you’re having trouble finding a trading pair that combines ADA and local currency, check out this guide on how to convert fiat currency into bitcoin where you can buy altcoins. Our guide can show you how to buy Cardano and help you decide where and how to store your purchased coins for maximum security.

Stage 1: Open an online account.

The first step in purchasing Cardano is to open an account with a crypto broker that supports Cardano tokens. After creating an account and financing, instruct your broker to use your nominal funds to buy tickets to use for your order.

Opening an account with a crypto broker is very easy. First, collect your personal information. When opening an account for the first time, you usually need to specify:

  • Your real name
  • Current address
  • Email address and phone number.
  • All payment methods to fund your account (most brokers support credit cards and direct bank transfers)
  • Copy of photo ID (most brokers accept driver’s license and passport).

When the information is ready, choose a broker that supports Cardano’s trading. If you’re not sure where to start, check out our top picks below.

The best brokers for traders in our comparisons – get professional trading conditions with a regulated broker:

Broker:Review:Advantages:Free account:
5 out of 5 stars (5 / 5)
➔ Read the review
# Spreads from 0.0 pips
# No commissions
# Best platform for beginners
# No hidden fees
# More than 3,000+ markets
Live account from $ 20:
Open your free account

(Risk warning: 78.1% of retail CFD accounts lose money)

Advantages and disadvantages of Cardano

Cardano’s benefits include an excellent development team, unlimited scalability, fast and cheap transactions using ADA cryptocurrency, a fair consensus mechanism, and the ability to create decentralized applications.

The downside of Cardano is the fact that the blockchain is still in development. It can only handle 257 transactions per second (TPS), so you have to deal with scalability issues. There are also issues with official wallet synchronization and network connectivity. Another problem is double-spending or a 51% attack. This is because there is still a risk that an access authenticator could approve the same set of transactions from two different slot managers.

Some essential points to remember:

  • Cardano is still under construction. If successful, it can be a very big event. So far, it has not been proven.
  • ADA started as an ICO.
  • Cardano is decentralized, but IOHK is the company that currently owns it. IOHK is a development team founded by Charles Hoskinson and Jeremy Wood in 2015. The duo is a previous developer for Ethereum and who have been working in the crypto industry since 2013.
  • ADA was one of the new outstanding coins of 2017 and its market cap has grown rapidly, making it one of the best cryptocurrencies by market value.
  • ADA is considering being listed on the Coinbase exchange.
Cardano Trading

Conclusion: Is Cardano a good investment?

The value of digital assets is based on a few factors. To provide a critical answer to whether or not it is worth the effort to invest in ADA, it’s essential to know the factors that determine its value. As the total supply of ADA is not unlimited, the coin resists inflation as the token demand increases. The decentralization of the Cardano blockchain ensures safety, and the tiered architecture makes it highly scalable. Altogether, these technical features contribute to the uniqueness of Cardano and its exceptional growth potential.

Cardano’s viable potential equally depends on the amount of DApps and smart contracts created on the blockchain. A careful peer-review study process contributes to the stability and resilience of the blockchain.


Cardano is one of the top cryptocurrencies to invest in with a rising market cap and an enormous number of crypto investors that invest in the coin day by day. The 4-year price chart illustrates that the value of the coin is steadily rising despite occasional price declines. Cardano’s long-term growth potential is supported by numerous partners. Also, analyst’s opinion regarding the coin’s growth shows a positive trend going forward.

In summary, it can be said that Cardano has a great opportunity to gain a share in the cryptocurrency market. Therefore, it is constantly rising and is a good choice for new traders and investors who have not long invested in the cryptocurrency market. At the same time, the ADA cryptocurrency remains the right choice for traders looking to diversify their portfolios. 

Trade from 0.0 pips over 3,000 markets without commissions and professional platforms:

(Risk warning: 78.1% of retail CFD accounts lose money)

FAQ – The most asked questions about Cardano : 

Is Cardano a good investment?

Since a sharp drop could be noticed in Cardano in 2022, according to many experts, it can provide good value and return on investment on a long-term basis. But, you should still be cautious while investing in cryptocurrency as it is volatile, and the value can change anytime. Decide how much you can stand to lose before investing.

Does Cardano have a future?

Experts believe that Cardano will have a bright future from 2022 onwards. Cardano may reach a new peak as a result of current developments in both the Cardano ecosystem and the cryptocurrency market as a whole. Experts have estimated the price of Cardano in 2022 as USD 5. 

What is Cardano used for?

Cardano is used to making decentralized applications and protocols with the help of smart contracts. It can also transfer funds quickly though it takes some extra charge for it, which has many utilities in the world of finance and business. 

Is Cardano better than Ethereum?

Ethereum is more valuable than Cardano, provided the fact that it is the second most valuable cryptocurrency after bitcoin. Even though Cardano has developed itself a lot ever since it launched in the market, but yet it is only about 10% of the total market capitalization of Ethereum. 

Read more articles about trading:

Last Updated on November 11, 2023 by Andre Witzel