The first thing to look for when buying Cardano is the best cryptocurrency app, exchange or brokerage that trades in ADA currency. Most exchanges and apps offer Cardano, as the token is well established and has been in the top 10 cryptocurrencies by market cap for quite some time.
When looking for the best place to buy Cardano, it is also a good idea to consider the following.
There have been many high-profile cryptocurrency exchange hacks over the years, so it is important to find an exchange that prioritizes security. Look for exchanges that keep the majority of their assets offline in cold storage. Some have external security audits and some have third-party hacking insurance, which gives an extra layer of protection.
You can pay a fee for depositing funds, trading and/or withdrawing. Fees can eat up your earnings, and cryptocurrency platforms are not always transparent about how fees are calculated. This can make it difficult to compare apples to apples.
Before depositing any money on a cryptocurrency exchange, it is important that you understand all these costs. It is also a good idea to test the exchange rate you offer on different platforms to make sure you get the best deal.
Ease of use
Some people want a site where it is easy to convert (traditional) fiat currency to Cardano. Others are looking for more complex crypto trading jobs. When looking for the best place to buy Cardano, explore the individual platforms as much as possible before depositing money. Don’t be afraid to create more than one account and experiment.
If you want to manage your coding on the go, make sure you have a good mobile app. And look at educational resources to see how easy it is to access the platforms – you’ll find that some contain a range of useful information. And if you want to be able to transfer your Cardano digital currency to an external crypto wallet, make sure you have this functionality available.
If you’re only interested in buying Cardano, you won’t need a large selection of tokens. However, if you are also planning to explore Bitcoin (BTC) or other cryptocurrencies, look for the ones that are available. One way to make sure that the platform has a good mix is to check that the top 20 coins by market cap are on the list. You can also see how often your brokerage, exchange, or app lists new coins and what criteria they use.
Rewards, local availability, storage and more
There are only a few cryptocurrency platforms available in every US state, so it’s a good idea to check coverage before you go too far. If you are an American, the best place to buy Cardano is through an exchange licensed to operate in the United States
Many cryptocurrency exchanges and brokers offer signup bonuses for new clients. This may give your initial investment in Cardano a good boost. Don’t let that overly affect your decision-making – if the exchange has a good reward but charges high fees, it may cost more in the long run.
Cardano uses a Proof of Stake model to keep it secure. For investors, this means that they can bind their tokens for a specified period of time to contribute to the security of the network and earn interest. If this might interest you, take the time to understand the ins and outs of staking and find a platform that offers Cardano staking.
Check out our cryptocurrency reviews for more crypto apps, exchanges, and brokerages.