After over a decade, it is safe to say that cryptocurrencies have become mainstream in the global financial markets. More institutional investors and high net-worth retail investors are venturing into the cryptocurrency market. Since the bull run of 2017, the crypto market has more or less stabilized and as a result, this continues to attract more people to the cryptocurrency space.
Interestingly, the cryptocurrency sector has also been gaining traction thanks to its application in several areas of the global economy. The rise of smart contract platforms has made it easy for people to develop decentralized applications (DApps) and to execute contracts. The development of smart contracts and DApps on blockchain networks have helped boost transparency as well as promote integrity. Because of this, smart contract platforms have become, perhaps, the most useful aspect of the cryptocurrency space. Ethereum, EOS, Cardano, and Tron are a few smart contract platforms that have become highly useful to developers and other players in this field.
Smart contracts enable the performance of transactions without the interference of third party entities. The transactions are trackable and irreversible, thus, making it a very transparent process. As more projects are developed on smart contract platforms, it paves the way for these projects to raise funds via ICO (initial coin offerings), IEO (initial exchange offering), and STO (security token offering). Basically, providing developers with fundraising options outside the traditional IPO (initial public offering).
Cardano is one of the most popular smart contract platforms at the moment. It has been around for a while now and provides developers with an alternative, for those who choose not to use Ethereum, Tron, or EOS. Cardano has been one of the most popular cryptocurrencies, maintaining its position amongst the top 20 most valuable digital currencies. As more developers realize the advantages of using Cardano, the price of the cryptocurrency and its total market cap could appreciate over the coming years.
As an investor, whether you are new to the online trading world or a seasoned professional, we will discuss everything you should know about Cardano and what it presents for you in 2020.
Should I Buy Cardano?
One of the most daunting questions for investors is knowing exactly when to buy an asset. There are several conditions to consider before you purchase an asset. Investors understand that the best time to buy a cryptocurrency is when the prices are low and sell when the price is high. However, you have to consider some things about a cryptocurrency project before you buy the asset. Here are some reasons why you should buy Cardano.
Cardano was developed to solve the problems that have been plaguing Bitcoin, Ethereum, and the other first and second-generation blockchains; scalability. Cardano is working on the Ouroboros, a Proof of Stake (PoS) system, that enables Cardano to handle thousands of transactions per second. The PoS system is more efficient than the Proof of Work (Pow) system used by Bitcoin. The scalability of Cardano, therefore, goes beyond transactions and includes network and data, thus, making it easy for people to transfer money and information across the Cardano network effectively.
Cardano is also looking to solve one of the most pressing issues in the cryptocurrency world; interoperability. The Bitcoin network can’t interact with the Ethereum network, thus, making it difficult for users on different systems to communicate with each other. Cardano is aiming to boost interoperability using inter-chain and sidechain communications, therefore, becoming an internet of blockchains where each network can interact with one another. Once Cardano achieves the interoperability feat, it could become one of the most extensive blockchain networks in the world. Developers and cryptocurrency enthusiasts would use the blockchain to interact easily with people using other blockchain networks. Overall, it would serve as the internet of blockchains, making it as crucial as the World Wide Web to the industry.
To sustain the network, in the long run, Cardano is resolving to use the same method deployed by Dash; treasury. The treasury system is brilliant as it is designed to keep increasing as more blocks are discovered and added to the network. It is also directly proportional to the size of the network, thus, as the Cardano network grows more significant in the future, due to high demand and activities, so also would the treasury continue to fill up. This means that the Cardano network would be self-sustaining in the long run. Most blockchain projects haven’t considered the long-term viability of their networks. The fact that Cardano is planning on it means that it is a cryptocurrency project worth investing in for the long-term.
Yes, it is. Here are some reasons why you should buy Cardano today:
As investors, we know that the key to success is buying low and selling high. Thus, it is best to buy during a bearish market and sell an asset when the bull run is at its peak. Since the bull run of early 2018, when the Cardano (ADA) price rose to $0.95, it has plunged massively to currently trade at around the $0.03 margin. Based on this, buying Cardano at the current price means you will make massive profits when it eventually embarks on a bull run again.
If you have been following the crypto world for a while, then you know that the best time for a cryptocurrency to rally is when the development team releases an important update. With Cardano looking to solve issues such as scalability and interoperability, this could be the best time to buy ADA. Once those developments are released, the cryptocurrency might embark on a bull run and it could be late too buy it by then, thus, it is recommended that you buy ADA today.
Is It the Right Time To Buy Cardano Today?
Is it Safe To Buy Cardano?
Yes, it is absolutely safe to buy Cardano. As one of the top cryptos at the moment, you can purchase Cardano from virtually every cryptocurrency exchange. You can also trade Cardano CFDs (contracts for difference) from a wide range of online brokers. You can buy ADA directly using your credit or debit cards on some exchanges and you can also trade CFDs using a range of banking options..
Furthermore, securing your Cardano stash is not hard. The cryptocurrency is supported by some of the significant wallet service providers, including Trezor and Ledger. Keep in mind that keeping your ADA coins in your crypto exchange wallet is not entirely safe. It is best to get a cold storage wallet, such as Ledger or Trezor, to save it. You can also use other wallets including; AdaLite Wallet, Yoroi Wallet [Web & Mobile ADA Wallet-Chrome Extension], and Daedalus Wallet [Desktop Wallet].
Thus, after buying ADA from the cryptocurrency exchanges, you can transfer them to any of the wallets listed above for safekeeping. As a decentralized cryptocurrency, you can buy ADA from virtually every country in the world.
Is Cardano Safe and Legal?
Yes, Cardano is safe and legal. Cardano is not a privacy-focused cryptocurrency, which has been facing a lot of heat from some regulatory bodies. Similarly, it is not a security token, thus, it doesn’t have any problem with the SEC (U.S. Securities and Exchange Commission) and other related agencies.
Cardano is committed to creating an internet of blockchain, and this would help boost transparency in several sectors of the global economy. Overall, the Cardano crypto is safe and legal for you to buy and use.
Where to Buy Cardano?
Cardano is one of the leading cryptocurrencies in terms of market cap, thus, making it easy to buy and sell the cryptocurrency. For investors, there are three significant places you can buy Cardano.
The first place to buy Cardano is from a cryptocurrency exchanges. Due to its large market cap and sizeable trading activities, you can find Cardano on almost every cryptocurrency exchange. However, it is mostly available on large exchanges like Binance, Coinmama, eToro, Bittrex, Huobi, HitBTC, and a few others. The most popular cryptocurrency exchanges are highly liquid and have ADA available at all times.
Another place to buy Cardano is on peer-to-peer cryptocurrency exchanges. One of such exchanges is Paxful. On the P2P platforms, you will see buyers and sellers of the cryptocurrency, and you can deal with them directly. It is a convenient way to purchase ADA as you can buy the cryptocurrency at different rates, depending on the seller.
You can also buy and trade Cardano from CFD brokerage platforms. In this case, however, you don’t have to go through the stress of getting a wallet and saving the cryptocurrency. All you need to do is trade it and leverage on its price potential to make massive profits. Most people are now turning to CFD trading for easier and better profits. That is, with CFDs you are simply speculating on the price movement of the crypto which means you can profit even when the price is moving down.
Below, you will find a list of our recommended brokers who will give you direct access to trade cryptocurrency CFDs.
What Are the Pros and Cons of Buying Cardano?
Pros of Buying Cardano
- Easy access: Cardano is one of the leading cryptocurrencies, making it easily accessible to investors. ADA is easily accessible on CFD brokerage platforms as well. Since CFD brokers provide you access to Cardano, you don’t need to buy a wallet or anything else as you are not purchasing the physical cryptocurrency.
- Liquidity: Since Cardano is one of the top 20 cryptocurrencies by market cap, it has a large value and is highly liquid, thus, it can be traded with transparency on a CFD brokerage platform.
- Volatility: Currently trading just below the $1 mark, Cardano is highly volatile. For investors, volatility is their friend, as it means they can make massive profits within a short period. The best place to enjoy the price volatility of Cardano is when you trade it on CFD brokerage platforms. Leverage enables you to open a much bigger trading position than your available trading capital.
- Security: Trading Cardano on a regulated CFD broker platform means that your funds are safe at all times. Your funds and data are kept safe and secure always as the brokers work on maintaining high professionalism with their services. This is also a strict requirement of the regulatory bodies around the world.
Cons of Buying Cardano
- Limited crypto assets: CFD brokerages are currently limited in the number of crypto assets they offer to investors. While cryptocurrency exchanges allow users to buy and sell hundreds of cryptocurrencies, CFD brokers only grant traders access to a few digital currencies. Based on this, simply select a CFD broker that offers Cardano on its trading platform.
- High fees: The fees for cryptocurrency trading at some CFD brokerages are currently high compared to forex and stocks. The costs could surge higher if a person wishes to hold Cardano for a long time. Take the time to understand these costs before you sign up with a broker.
- Price instability: Cryptocurrencies have been very volatile since they were introduced into the market. Using CFD brokerages makes it even less stable as the leverages offered by the brokerages make the loss more significant for investors and traders if a trade moves against you. Based on this, use leverage cautiously and with a clear understanding of the pros and cons.
Is There a Difference Between Buying and Trading Cardano?
While Cardano is a very lucrative cryptocurrency, some questions still linger in the minds of investors. One such issue is whether they should buy Cardano or just trade them. Here is the difference between trading and buying Cardano.
Leverage is one of the most crucial features of CFD trading that attracts investors. The leverage of trading enables investors to control a substantial position in the market. With CFD brokers, you can have a leverage of up to 1000:1, thus, allowing you to trade a Cardano position of $100,000 by using capital of only $1,000. This means that a tiny movement in your favor will lead to you making massive profits compared to the original amount you stake. However, you don’t get that when you buy actual Cardano coins. In this scenario, the $1,000 worth of ADA you buy will be of same value if the price does not change. If the price goes up by $10, your profit is only $10. With CFD trading, while leverage increases profits massively, you can also procure massive losses if the price goes against your prediction.
The liquidity of an asset on a platform is another thing to consider. An asset that has liquidity can easily be converted to cash or any other method convenient for investors. Similarly, they can buy and sell liquid assets at fair prices whenever they wish to. Despite Cardano being a volatile asset, it is highly liquid. You can quickly sell your Cardano coins on a cryptocurrency exchange, however, it could take some time to get a buyer if you set a specific price. Yet, when you trade Cardano CFDs, you have the option to enter and exit trade positions instantly, at the desired price levels you want.
Ownership and Safety
If you wish to buy Cardano, then you would most likely get them from a crypto exchange. When you buy Cardano, you will own the coins and will need to store them using an online or offline wallet. The safety of the cryptocurrency depends on you after buying the ADA coins. You will have to keep the private keys to your wallet secure and ensure that you properly store your offline wallet. If you save the coins online, you will have to hope that your online wallet or crypto exchange does not get hacked.
You can avoid all these turmoil if you trade via CFD brokers. In this scenario, you will not own the coin. All you would be doing is speculating on the price movement of Cardano. Thus, you don’t have to worry about security or the loss of your coins. CFD brokers have strict security measures as it is required by regulators before they can provide services to traders. You don’t stand to lose your Cardano coins when you trade with CFD brokers.
When you buy Cardano, you will need to trade them on cryptocurrency exchanges. Keep in mind that cryptos have been around for a decade and exchanges even less. This means that some of them only provide users with buy or sell functionalities and rudimentary charting capabilities.
However, if you choose to use CFD brokers, you are going with an industry that has been around for a more extended period and as a result, they are more robust and advanced. CFD brokerage platforms have multiple order types, provide users with several trading resources, advanced charting tools, and in many cases, auto trading. Trading platforms give you access to the financial markets and CFD brokers ensure that you can access as many global assets as possible.
The profits you make when you buy Cardano from cryptocurrency exchanges differ from what you can get when you trade them on CFD platforms. Thanks to the leverage of CFD brokers, you can win far higher profits trading Cardano than when you buy on exchanges and hope for the prices to go increase. With CFD trading, you can get to enjoy more of the profits compared to the traditional method of buying and selling on cryptocurrency exchanges.
How Do I Buy Cardano Anonymously?
Privacy and anonymity are some of the best features of cryptocurrencies. People wish to make purchases and carry out transactions online without their confidential details becoming public. Cardano is one of the cryptocurrencies you can use anonymously to make purchases.
How to Buy Cardano Anonymously Online
To buy Cardano anonymously online, the best way is to go through peer-to-peer exchanges like Paxful. Here, you can buy or sell Cardano to interested parties without having to reveal your identity. Cryptocurrency exchanges are no longer anonymous places to buy Cardano as regulatory requirements ensure that they abide by KYC (know your customer) and AML (anti-money laundering) policies.
CFD brokers also comply with these regulations but ensure that confidential customer details are always safe and secure at all times.
How to Buy Cardano Without ID
You can buy Cardano without needing an identification document on peer-to-peer exchanges. On these exchanges, your identity is not required as you only register with a name and password. You meet other investors who wish to sell or buy their Cardano, and they make the transfer directly to your wallet address.
Which Payment Methods Can You Use to Deposit?
There are several methods of payment to deposit into your trading account. Cryptocurrency exchanges have a limited deposit option for their users. However, when you trade via CFD brokerage platforms, you can use several payment methods. We will discuss the various payment methods available to you below.
Payment Methods Online
You can conveniently deposit funds into your CFD brokerage account online using several methods. Using credit and debit cards is one of the most popular payment methods. CFD brokers support this method and deposits occur instantly. Similarly, you can deposit online using electronic payment channels. Some of the most widely accepted e-wallets include Skrill, Neteller, Payoneer, PayU, RazorPay, and more.
Offline Payment Method
Another advantage of using CFD brokers is that they support offline payments. The bank transfer (wire transfer) method is available to traders who find it difficult to deposit funds using credit cards or electronic wallets. This ensures that you can safely deposit funds and buy ADA coins whenever you wish with whichever method you are comfortable with.
Does it Matter Where I Live to Buy CARDANO?
Cardano is a universal cryptocurrency. As such, it doesn’t matter where you live to buy it. You can easily buy Cardano from the several online cryptocurrency exchanges available around the world. There are also online peer-to-peer platforms where you can easily purchase Cardano from sellers.
Furthermore, CFD brokers are available in all parts of the world, offering similar services. Thus, you can easily buy Cardano and trade them regardless of where you live.
Which Places Accept CARDANO Payments?
Similar to the other leading cryptocurrencies, you can easily use Cardano to pay for several products and services. A wide range of service providers accept Cardano. Some of them include; Cryptoworth, Bidali, Bitforx Mining, GamerAll.com, HostingSSI, and more. Most of the places that allow Cardano are eCommerce platforms, payment services, gaming sites, B2B services, ISP providers, and more.
Places That Accept Cardano Near Me
At the moment, it is tough to find physical stores that accept Cardano. This is because the adoption of the cryptocurrency is mostly by online marketplaces. However, you can purchase items on some eCommerce stores and pay for services using Cardano. It is one of the most accepted cryptocurrencies due to its status in the industry.
5 Best Ways to Buy Cardano
There are numerous brokerage platforms where you can buy Cardano. Here are a few of them. In order to select the right broker, take the time to check these 5 features:
- Regulation – It is best to partner with a regulated broker that follows the rules and guidelines of the regulatory bodies.
- Safety and Security – It is vital to select a broker that offers safe and secure banking options and also takes the necessary steps to protect your personal information.
- Educational Resources – Select a broker that offers a wide choice of educational resources and trading tools.
- Trading Platform – Select a broker that offers access to a powerful and intuitive trading platform that gives you access to trade a wide range of assets and cryptos.
- Customer Service – Select a broker that offers quality and responsive customer service and who is available to answer any of your questions.
Below, we have provided a list of the top CFD brokers in the industry who will give you direct access to trade Cardano.
How to Buy Cardano UK
Investors in the UK can purchase Cardano from any of the major exchanges. They can also visit P2P platforms to buy Cardano directly from other investors who are looking to sell their stash. For CFDs, UK residents have a comprehensive option of brokers who offer Cardano CFDs on their trading platform. These CFD brokers are reputable and are always available to investors.
How to Buy Cardano
You can buy Cardano using several payment methods. You can buy with credit and debit cards or electronic wallets. However, with CFD brokers, you can use the bank transfer method to buy Cardano, thus, giving you more deposit options.
How to Sell Cardano
As a leading cryptocurrency, it is easy to sell Cardano. You can sell ADA quickly on any of the cryptocurrency exchanges that support it. There are hundreds of exchanges that support Cardano at the moment. You can also sell it on P2P platforms like Paxful. However, when you use CFD brokers, it is easy for you to enter and exit Cardano positions. Based on this, traders don’t have to waste time looking for who will buy their ADA coins.
How to Buy Cardano Instantly
To buy Cardano instantly, you can register on any of the CFD brokers we recommended and deposit funds into your trading account. Afterwards, you can buy Cardano and start trading against a wide range of other assets available on those platforms. Also, you can instantly buy Cardano on any major cryptocurrency exchange if you wish to hold the physical coins for long-term investment purposes.
How to Buy Cardano CFDs
You can buy Cardano on any of the recommended CFD brokerage platforms in this post. You can trade its value against the other significant assets available on the trading platform.
How to Buy Cardano with Credit Cards
You can buy Cardano using your credit card on the CFD brokerage platforms. All you need to do is deposit funds into your CFD brokerage account using any of the accepted credit cards. Afterwards, you can buy Cardano CFDs with the funds and start trading it. Similarly, you can buy Cardano on cryptocurrency exchanges that accept credit card payments. It is easy to deposit funds using credit cards on those platforms. Afterwards, you can buy Cardano with the funds and either store the cryptocurrency or trade it against other assets like BTC or USDT.