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Cardano is one of the top cryptocurrencies by total value, and many investors are looking to add it to their portfolio alongside popular coins such as Bitcoin and Ethereum. While those latter choices are available to trade in many places, including quite a few you might not expect<\/a>, it\u2019s harder to trade Cardano outside the major crypto exchanges, but you do still have options.<\/p>\n Here are three places to buy Cardano<\/a> (ADA) and some key things to watch out for as you do.<\/p>\n Cardano is one of the most popular cryptocurrencies<\/a> on the market today, and it\u2019s among the top 10 by total value as of April 2022, according to CoinMarketCap.com. The currency was created in 2015 and began trading publicly in late 2017 starting at a few cents a coin. From there, it\u2019s risen exponentially as traders have flocked to cryptocurrency, including Bitcoin<\/a>.<\/p>\n Similar to many other cryptocurrencies, Cardano relies on a decentralized network of computers to verify and manage the crypto system. It uses what\u2019s called a \u201cproof-of-stake\u201d system (like rival Ethereum<\/a>) to verify transactions on its blockchain database, meaning that Cardano owners validate the system in exchange for rewards, in a process known as crypto staking<\/a>.<\/p>\n Cardano also allows owners to use decentralized apps, or dApps<\/a>, that enable smart contracts, and let users engage in financial transactions such as lending and trading, among others.<\/p>\n Cardano is not as widely available as some of the largest cryptocurrencies, including Bitcoin and Ethereum. These latter crypto coins can be bought at virtually all exchanges as well as through Bitcoin ATMs<\/a> and payment apps such as Cash App<\/a> and PayPal<\/a>. Or they can be bought at a number of the top brokers for cryptocurrency<\/a>.<\/p>\n Still, Cardano can be bought and sold at a number of locations, including the following.<\/p>\n Trading apps such as Robinhood<\/a> and Webull provide access to many cryptocurrencies, opening up the coins to traders who don\u2019t want to open a specialized account at a crypto exchange. In the case of Cardano, however, only Webull<\/a> offers access to this crypto coin.<\/p>\n At Webull, you\u2019ll be able to trade Cardano cryptocurrency and many others, including Bitcoin, Ethereum, Dogecoin<\/a> and Solana<\/a>. And you can do so 24 hours a day, seven days a week. Webull does not charge a commission on crypto trades, but you\u2019ll pay a spread markup of 1 percent on buys and sells. And if you want to trade something else \u2013 stocks, ETFs, options \u2013 you can also do that at Webull.<\/p>\n If you\u2019re focused exclusively on trading cryptocurrencies, and not just as a sideline to stock trading, then going with a crypto exchange could be a better option. That\u2019s because crypto exchanges really focus on lowering trading costs for high-volume traders. In many cases, they\u2019re the cheapest alternative to start trading and then they lower costs even further.<\/p>\n Popular options for Cardano include Binance.US<\/a>, Kraken<\/a>, Bitfinex, Crypto.com<\/a>, Bitstamp<\/a>, Bittrex<\/a> and Coinbase<\/a>. With a crypto exchange, traders will start out paying a price that\u2019s among the best available \u2013 typically better than with traditional brokers or financial apps \u2013 and the prices decline from there. If rock-bottom prices matter above all else, then Binance is a good place to start.<\/p>\n Again, most options among traditional brokers allow you to purchase Bitcoin and Ethereum, but Cardano is a bit harder to find. One option here is eToro<\/a>, which is a traditional broker in much of the world, though it allows American clients to trade only cryptocurrency, including Cardano.<\/p>\n The broker eToro works on a commission-free model, meaning you\u2019ll pay a spread markup on transactions, and that amounts to 1 percent on each buy and sell. That\u2019s pricier than what you\u2019d find at a crypto exchange, but you might find the broker\u2019s CopyTrader feature especially worthwhile. It gives you the ability to automatically copy the trades of the site\u2019s most popular traders, and if you\u2019re not quite ready to do that, you can simply see what they\u2019re buying.<\/p>\n As you\u2019re thinking about how to buy Cardano, you\u2019ll want to consider a few other factors, since they may affect where you want to buy the cryptocurrency:<\/p>\n So while cost may be the most important consideration, it shouldn\u2019t be the only one.<\/p>\n While Cardano is not as readily available as the largest cryptocurrencies, you still have plenty of places to trade it, including a number of well-regarded options. And if you\u2019re looking to trade other cryptocurrencies, too, it may make sense to go with a provider that can offer many other coins to trade, rather than one that offers only the most popular cryptocurrency names.<\/p>\n Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.<\/p>\n<\/div>\nWhat is Cardano?<\/h2>\n
3 ways to buy Cardano<\/h2>\n
Trading apps<\/h3>\n
Crypto exchanges<\/h3>\n
Traditional brokers<\/h3>\n
Buying Cardano: Here\u2019s what to watch out for<\/h2>\n
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