Do you want to buy Cardano, but do not know how to proceed? Do not panic, with this detailed guide, discover how to easily invest in ADA crypto with eToro.
Exchange platforms to buy Cardano: which one to choose?
If you want buy Cardanoit is possible to do so via several exchange platforms, each with their own characteristics.
To make your choice, you can consider several criteria such as the fees charged for the purchase and withdrawal of ADA crypto, the ergonomics of the platform or its reputation.
In particular, if you are new to the world of cryptocurrencies and investing, the ease of use of the platform is an essential criterion to be taken into account for buy ADA with ease.
In this case, we advise you to use the eToro trading platformrecognized for its ergonomics.
Buy ADA on eToro »
To help you make your choice, we have compiled a comparison table of the major exchanges offering ADA crypto according to certain criteria.
Guide to buying Cardano with ease on eToro
eToro is a very easy to use trading platform for buy Cardano quickly and easily. It is a regulated platform in France, thus offering security for your investments.
To get started, create an account on eToro by clicking on the following button (affiliate link) and then on ” start investing » :
Create an eToro account »
After creating your eToro account, you will be required to answer questions to allow the platform to better understand your experience with financial products. You will also be asked to verify your account by providing an identity document and a telephone number.
This step is mandatory on platforms registered in France such as eToro, in accordance with the requirements of the Autorité des marchés financiers (AMF).
Once your account is verified, you must deposit euros into your eToro wallet before you can buy ADA. To do this, click on ” Make a deposit » in the middle of the dashboard:
When making a deposit to your eToro account, you can choose between two payment methods: credit card or bank transfer. There is no deposit fee difference between the two options (1%). So choose the method that suits you. The example below assumes a credit card selection.
Then enter the amount in euros you want to transfer to eToro and fill in the other required fields, then click on “ Deposit » :
After making the deposit, wait a few minutes for the funds to appear in your wallet. You can then search for ” ADA ” Or “ Cardano at the top of the page, and click on ” Invest to buy Cardano:
You come to a window where you can enter the dollar amount you want to invest in Cardano crypto. Note that eToro automatically converts your euros into dollars. Finally, click on the button Invest to complete your purchase.
Congratulations, you have just completed our guide to buying Cardano crypto and you are now in possession of ADA tokens ! It is up to you to dispose of them as you see fit, send them to a digital wallet for example.
👉 Need more detailed explanations? Here is our opinion and complete tutorial on eToro
Other options to buy Cardano besides eToro?
There are other exchanges where you can buy Cardano, such as Binance or Bitpanda, which also offer ADA.
These two platforms differ in terms of the fees applied and the services offered such as staking which allows investors to generate passive income with crypto ADA.
Finally, note that even having purchased ADA on eToro, you have the option of staking them on a different platform by simply transferring your tokens.
Discovery of the Cardano Blockchain
Cardano is a first layer blockchain (layer 1), or smart contract platform, like the Ethereum, Solana and BNB Chain blockchains. ADA is the native cryptocurrency of the Cardano networkits name refers to Ada Lovelace, a pioneer of computer programming.
The particularity of this project comes from his scientific method. Indeed, its development team is made up of researchers and engineers who have their research peer-reviewed.
This is how his proof of stake algorithmbaptized Ouroboros, is very secure and efficient. It is the first consensus algorithm to have been developed with this type of scientific approach.
Cardano is therefore a blockchain offering a high level of security and foolproof robustness to deploy decentralized applications.
👉 Want to go further? Find our in-depth analysis on Cardano
Is it a good plan to buy ADA in 2023?
The Cardano project is very popular with investors since its token, the ADA, is ranked in the top 10 of the most capitalized cryptocurrencies with a valuation of $13.5 billion at the time of writing these lines.
Despite these impressive data, the price of ADA suffered a very significant drop in 2022 due to the bear market, like other cryptocurrencies on the market. Its historic high is reached in July 2021, amounting to 2.97 dollars. As of this writing, ADA is trading at $0.40, so there is plenty of room to get back there.
The year 2023 is off to a very good start for the ADA since the price took +50% over the month of January, but what about next? Let’s try to analyze the recent developments of the Cardano project in order to help us see more clearly about the future potential of the project.
Cardano has often been referred to as “ turtle project And for good reason, the deployment of smart contract functionalities on the Cardano blockchain only saw the light of day in 2021, i.e. 4 years after the launch of the blockchain.
However, little by little it seems that Cardano is managing to keep its promises. The project is currently in the fourth phase of its roadmap, entitled Basho, whose objective is to solve the problem of scalability of the Cardano blockchain.
For this, in September 2022 the Vasil update took place, and made it possible to dramatically reduce transaction fees of the network.
Cardano’s layer 2 solution, Hydra, is expected to roll out sometime in 2023. This will be a very important milestone for Cardano asHydra would theoretically allow the network to support 1 million transactions per second.
Either way, the development of Cardano is running full steam ahead and has some potential. The DJED, an algorithmic stablecoin partially guaranteed by the ADA tokenwas deployed on January 31, 2023, while a centralized stablecoin, USDA, is expected to be deployed in Q1 2023 on the Cardano blockchain.
However, the major challenge of the Cardano project will be to increase the level of adoption of its platform. Few addresses are truly active compared to other top layer 1 blockchains, and very few decentralized applications have become popular on Cardano.
Cardano lacks a strong app ecosystem. Worse, a large-scale DeFi project on the Cardano network, dubbed Ardano, abandoned its development in November 2022, a real blow for the ecosystem.
To conclude, we can only advise to carry out a thorough analysis of the project before deciding to buy Cardano or not.
Buy ADA crypto »
FAQ: frequently asked questions about Cardano
When was Cardano created?
The Cardano project headed by Charles Hoskinsonone of the five founders of the Ethereum project alongside Vitalik Buterin, came into existence in 2015. The rollout of the Cardano blockchain took place in 2017.
Use cases for the ADA token?
The ADA token is used to pay transaction and smart contract fees of the Cardano network, in addition to having a major role in network governance and security.
In terms of security, validators must ADA token staking on the Cardano blockchain to verify transactions. In return, they are paid in ADA. Proposals to improve the Cardano network are subject to votes in which each holder of ADA tokens can participate.
Finally, the ADA token has more and more use cases as its ecosystem develops. The ADA token is one of the two tokens guaranteeing the stability of the DJED algorithmic stablecoin since January 31, 2023, for example.
How to follow the course and the price of Cardano?
Our Cardano crypto price tracker page was designed for those who want to follow the price of Cardano in real time. You will find there all the essential data relating to the ADA token such as the graph of its price and its capitalization.
How to protect your ADA tokens?
To protect your ADA tokens, you can use a digital wallet that supports the Cardano network like Eternl and Yoroi.
For added security, the use ofa physical wallet like the Ledger Nano S Plus is highly recommended for storing your ADA tokens.
The best way to secure your cryptocurrencies 🔒
🔥 The world leader in crypto security
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Master student in International Finance, I have been interested in cryptocurrencies since June 2017 and more particularly in fintech and decentralized finance. I aspire to make my contributions interesting for readers of all levels.
