Cardano is a decentralized public blockchain whose main aim is to build a sustainable, decentralized platform that allows the development of intelligent contracts and third-party applications. If you’re looking to invest in its cryptocurrency, you’re probably wondering, “Can I buy Cardano on Coinbase?
You can buy Cardano on Coinbase everywhere the exchange platform is available, including the US. To purchase Cardano’s ADA coins, you will first have to create a Coinbase account and add a verified payment method that supports this transaction.
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If you’re looking to invest in one of the newer cryptocurrencies, Cardano’s ADA is one of the most popular options currently available. However, make sure you carefully consider all the risks associated with the blockchain before putting any funds into the platform.
If you’re looking to acquire one of the newer cryptocurrencies, know that you can buy Cardano on Coinbase wherever the exchange platform is available. The transaction can be done on both the mobile app and the website, so it won’t matter which platform you prefer to use.
More importantly, Coinbase has a very efficient design, making the process of buying cryptocurrencies very straightforward. Every step is so easy to follow that even those unfamiliar with crypto transactions won’t have trouble figuring it out.
To buy Cardano (ADA) on Coinbase, you will first need to create an account on the platform, which can be done either on a browser or the mobile app. The process will require you to provide a valid ID and proof of address, so make sure you have these nearby when applying.
These documents are needed for identity verification, which may take a few minutes or more, depending on where you live. After you’ve created an account, you will need to add a payment method.
This is done by selecting the “Add a payment method” tab at the top of the page, which will allow you to link one of several methods. To speed up the process, take a look at which methods can be used to buy crypto on the platform and which are better suited for other transactions.
|Payment method||Buy||Sell||Add cash||Cash-out||Best for||Speed|
|Bank Account (ACH)||Yes||Yes||Yes||Yes||Large and small investments||3-5 business days|
|Debit Card||Yes||No||No||Yes||Small investments and cashouts||Instant|
|Wire Transfer||No||No||Yes||Yes||Large investments||1-3 business days|
|Instant Cashouts||No||No||No||Yes||Small withdrawals||Instant|
|PayPal||Yes||No||Yes||Yes||Small investments and cashouts||Instant|
|Apple Pay||Yes||No||No||No||Small investments||Instant|
|Google Pay||Yes||No||No||No||Small investments||Instant|
Once you have added a payment method, you can start a trade and buy Cardano (ADA) by clicking on the “Buy/Sell” tab at the top of the page and selecting “Buy ADA”. However, instead of entering the number of coins you want to acquire, you will actually state how many USD you would like to spend during the transaction.
The app will automatically convert it into the specific ADA amount. After clicking on the “Preview buy” button, you will have the opportunity to review all your order details, so make sure everything is okay before finalizing the purchase.
If this is your first time buying ADA using Coinbase, you will also have to agree to their terms before being allowed to continue. Once the transaction is complete, you will immediately see the order’s confirmation screen.
Once you have your Cardano tokens, there are a few different methods of storing them, depending on your preferences and technological capabilities. For starters, you should try keeping the currency in a software wallet, as this will allow you to trade the tokens much more quickly when the need arises.
On that note, although Coinbase does offer an online wallet for Bitcoin, Ethereum, and other blockchains, there’s currently a temporary trade restriction on Cardano’s ADA. This means you won’t be able to buy, sell, send and receive these coins through the platform’s wallet.
Thankfully, there are still a few other software wallet options available, even though Cardano’s currency is relatively new. Depending on the device you’re using, some of the top software wallets to get include:
- Exodus – A free intuitive wallet that has both a mobile and a desktop version,
- Atomic Wallet – Another great option that allows you to store ADA and over 300 other cryptocurrencies, supporting desktop and mobile versions,
- Daedalus Wallet – One of the best options out there for Mac and Windows users.
Hardware Wallets Can Also Be Used for Storing ADA and Other Cryptocurrencies Like Bitcoin, Ether, and Dogecoin
If you prefer to keep your ADA, Bitcoin, Ether, and other cryptocurrencies offline in “cold storage”, know that you can store them on a hardware wallet. These devices are used to keep your private keys offline, making them much more resistant to hacking.
They also come in the form of a USB drive, which you’ll immediately notice if you opt to use one of the Ledger or Trezor wallets. However, these wallets typically require additional setup compared to their online counterparts, and they can easily be lost or misplaced.
After all, everyone heard the famous story about James Howells, who managed to throw away a hard drive holding the key needed to access his 7,500 Bitcoin stash. If you do end up getting a hardware wallet, make sure you keep it in a secured location.
When all is said and done, investing in Cardano (ADA) is probably not the best nor the safest investment choice for you right now. While the cryptocurrency has seen a surge in popularity and value in recent months, it is still relatively new and unproven. There is no guarantee that its value will rise again, or even if it will maintain its current worth.
Similar to other cryptocurrencies, investing in Cardano requires acquiring and storing ADA tokens, which can be complicated and risky. Generally speaking, the ADA’s investment potential will vary depending on various factors, including the overall market conditions at the time of purchase.
As Cardano is still in its early stages of development, it may be worth watching how the project progresses before making any decisions about investing.
While you can purchase Cardano (ADA) on Coinbase, there are a few important things to keep in mind before making an investment. Be sure to do your due diligence and carefully consider all available options. Remember that the cryptocurrency market always comes with very high-risk factors, which can lead the coins to fluctuate wildly in value over time.