Cardano (ADA) is a popular cryptocurrency that has been gaining traction in the crypto space. One of the most popular exchanges for buying and trading Cardano is Binance. In this guide, we will walk you through the steps on how to buy ADA on Binance.
Where to buy Cardano?
Some of the most popular exchanges to buy ADA include Binance, Coinbase, Kraken, Bitfinex, and Huobi. When choosing an exchange to buy ADA, it's important to consider factors such as fees, security, user interface, and supported payment methods. It's also important to note that some exchanges may not be available in certain countries or regions. Binance is one of the best place to buy cardano as they support numerous payment methods and crypto options to buy ADA.
Step-by-Step Guide on How to buy Cardano:
Follow the below steps to buy Cardano using the Binance exchange. If you are interested in staking your Cardano to get yield, then check out our guide on the best Cardano staking platforms.
Step 1: Register for a Binance account
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The first step is to register for a Binance account, if you already have a Binance account, you can skip this step.
To register, visit the Binance website and click on the "Register" button at the top right-hand corner of the page. You will then be prompted to enter your email address and create a password. You can also simply use the main sign-up with an email or phone option as well.
After completing this step, you will receive an email confirmation from Binance.
Create an account using your personal phone number or email address on Binance. There is also an option to register as an entity if you are looking to buy Cardano as a Limited company business on Binance exchange.
Step 2: Verify your identity on Binance
Before you can buy ADA on Binance, you will need to verify your identity. To do this, click on the "Profile" button on the top right-hand corner of the page and select "Identity Verification."
Follow the instructions provided by Binance to complete the verification process.
To complete your Binance registration process and start buying crypto on the Binance platform, you will need to submit a valid government-issued passport or Driving license based on your country of residence.
Step 3: Buy ADA
There are numerous ways to buy Cardano on the Binance exchange, and it all comes down to your personal preference. We will explore some of the most popular ways to buy Cardano on Binance.
Option 1: Fund your Binance account with crypto
This method is useful for anyone who already owns crypto in other platforms or wallets. Once you have transferred your Bitcoin to a Binance account, you can buy Cardano with Bitcoin as Binance support the trading of BTC/ADA pair.
After your identity has been verified, you can fund your Binance account with Crypto. To do this, click on the "Deposit" button on the top right-hand corner of the page. You will then be prompted to select the cryptocurrency you want to deposit. Select the cryptocurrency you wish to deposit and follow the instructions provided by Binance. Once your cryptocurrency has been deposited, you can proceed to buy ADA.
On the deposit Crypto page, choose the crypto (in this case, we have selected bitcoin) and its network. Binance will generate a bitcoin address to deposit your BTC. Copy the deposit address and initiate a withdrawal on the withdrawal platform. Once the transaction is confirmed in the network, Binance will credit the Crypto for you.
Convert Bitcoin Crypto to Cardano (ADA)
After transferring your crypto Binance account, hover over the Trade menu at the top menubar and click on Binance Convert, where you will be able to convert your crypto to ADA.
What is Binance Convert?
Binance Convert is a simple tool for you to buy or sell cryptocurrencies with just a few clicks without having to go through placing orders on the trading interface. You can simply and instantly convert your crypto or fiat assets anytime with a live price based on current market conditions with zero fees.
There are two ways to convert your crypto to ADA, either using Market order or Limit order.
Buying ADA with market order: Market order allows you to convert your assets at the current market price based on the quoted price in the conversion.
Buying ADA with limit order: A limit order allows you to place an order to convert your assets at a specified limit price. However, limit orders are executed subject to market conditions and may not be completed even if the market price reaches or crosses your limit price momentarily.
In the above screenshot, you can see an example of placing a limit order to buy Cardano using BNB. You can click on the bars icon next to the limit button to show the price chart of your selected crypto convert pair. Click on Confirm order to get 900 ADA tokens into your account.
Congrats! You have now bought Cardano by funding your Binance account with crypto and using Binance Convert.
Option 2: Fund your Binance account with Fiat
If you prefer to fund your account with your preferred fiat currency beforehand, this option will benefit you. Customers can fund their Binance account with fiat currency by either direct bank transfer or via credit/debit card.
When using the Bank transfer method to fund your account, make sure to follow the below tips:
Your bank account name must match the name registered to your Binance account.
Please include your full name in the Reference/Remark section of your bank transfer.
If the deposited amount exceeds your daily limit, Binance will divide the total payment based on your maximum daily limit.
After funding the account with fiat currency, it will be stored as your cash balance on the Binance account. Using the deposited fiat currency, you can now buy crypto using the buy crypto with Cash Balance tool.
With your preferred fiat currency, as shown above, buy Cardano right away! You will get an estimated price of ADA based on the currency of choice, and you simply enter the desired amount of ADA to buy and confirm the order.
Congrats! You have now bought ADA by funding your Binance account with fiat currency and using a Binance Cash balance.
Option 3: Buy Cardano with Credit/Debit Card (Popular method to buy Cardano)
To buy ADA on Binance using a Credit or Debit card, you need to navigate to the Buy crypto via card page using the top page navigation menu.
On the buy crypto with card page, you will see a variety of options to choose the fiat currency of your choice to buy Cardano. Enter the desired amount of ADA tokens to buy and click Continue.
Alternatively, you have the choice to buy ADA on a recurring basis. This is when you regularly invest in cryptocurrency with a pre-determined amount and accumulate your crypto holdings over time. If you are committed to the long-term growth of Cardano and bullish on its future price predictions, this is a great way to DCA into the Cardano project.
In the payment method section, if you just created your Binance account, then add the card details which you will use to purchase ADA.
Once you have entered the card details, you need to review the order details to ensure they are correct. If everything looks good, click on the "Buy ADA" button to complete the purchase.
Congrats! You have now bought ADA by funding with your Credit/Debit card!
Step 4: Buy Cardano
Buy Cardano with Paypal: Binance does not support purchasing Cardano (ADA) directly with PayPal at this time. However, you can still use PayPal to buy cryptocurrencies on other platforms and then transfer those funds to your Binance account to purchase Cardano. Other exchanges, such as Coinbase support Paypal payment methods to buy crypto. If you have an existing PayPal account, you'll be able to start making transactions on Coinbase right away.
Buy Cardano with a credit card on Binance exchange: To Add a credit card, Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card". Follow the prompts to add your credit card details.
Buy Cardano with Debit Card: To Add a debit card: Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card". Follow the prompts to add your debit card details.
How to Buy Cardano with Apple Pay and Google Pay on Binance
The following steps will guide you through how to buy Cardano using Apple Pay & Google Pay.
- Log in to your Binance account and click Buy Crypto with Credit/Debit Card.
2. Select the fiat currency according to your country and then select Cardano crypto to buy from the list. Enter the amount and click Continue.
3. After choosing ADA to Buy, Select Apple Pay or Google Pay as the payment method.
4. Once you have successfully added/chosen your credit/debit card, click Confirm to proceed. Check the payment details carefully and confirm your order within 1 minute, or else after the 1-minute mark, the price and the amount of crypto will be recalculated. You can click Refresh to see the latest market price.
Congrats! You have now bought Cardano on Binance using your preferred Google or Apple pay.
Step 5: Withdraw ADA from Binance
After buying ADA on Binance, you may want to withdraw it to a hard or soft wallet you control. To do this, click on the "Withdraw" button on the top right-hand corner of the page. You will then be prompted to enter the wallet address to which you want to withdraw your ADA. Ensure you enter the correct address, as transactions on the blockchain are irreversible.
You will also need to enter the amount of ADA you want to withdraw. Once you have entered the correct wallet address and the amount of ADA you want to withdraw, click on the "Submit" button. Binance will then process your withdrawal request, and your ADA will be sent to the wallet address you provided.
Tips for buying ADA on Binance
- Always double-check your order details before placing a trade to make sure everything is correct.
- Consider using the "Limit" order type instead of the "Market" order type when buying ADA. With a limit order, you can set the price you are willing to pay for ADA, whereas, with a market order, you will pay the current market price for ADA, which may not be the best price.
- Consider using two-factor authentication (2FA) to enhance security after registration.
10 reasons to buy Cardano right now
Should I buy Cardano? If you are looking or thinking about whether you should buy Cardano or not, then the below points may provide you with some clarity about the project.
- Innovative Technology: Cardano is a blockchain platform that uses a unique Proof of Stake (PoS) consensus mechanism called Ouroboros, which is designed to be more secure and energy-efficient than the Proof of Work (PoW) consensus used by other blockchain platforms like Bitcoin.
- Sustainability: Cardano's design allows for more efficient use of resources, making it more sustainable and environmentally friendly than other cryptocurrencies.
- Scalability: Cardano is designed to be highly scalable, which means it can handle a large number of transactions per second. This makes it a more practical choice for real-world applications.
- Interoperability: Cardano's developers are working on ways to make the platform compatible with other blockchain networks, which could increase its usability and value.
- Governance: Cardano has a decentralized governance model that allows stakeholders to have a say in the future development of the platform.
- Security: Cardano's design is focused on security, with multiple layers of protection to prevent hacks and other security breaches.
- Experienced Team: Cardano was created by IOHK, a company founded by blockchain experts with experience in developing other successful blockchain projects.
- Growing Community: Cardano has a large and growing community of developers, investors, and users who are actively working to improve the platform.
- Support for Smart Contracts: Cardano supports smart contracts, which are self-executing contracts that can be used to automate complex transactions.
- Potential for Growth: As with any investment, there is potential for growth in the value of Cardano if the platform continues to gain adoption and more people become interested in using it.
How to buy Cardano in the Philippines?
Choose a cryptocurrency exchange that supports Cardano (ADA) trading. Binance is one of the best places to buy Cardano in the Philippines. Binance is also one of the cheapest ways to buy Cardano in the Philippines.
How to buy Cardano in India?
Binance is one of the best places to buy Cardano in India. Binance is also one of the cheapest ways to buy Cardano.
Where to buy Cardano in the UK?
Choose a cryptocurrency exchange that supports Cardano (ADA) trading. Binance is one of the best places to buy Cardano in the UK.
How to buy Cardano in Australia?
Binance is one of the best places to buy Cardano in Australia. Binance is also one of the cheapest ways to buy Cardano.
How to buy Cardano in Brazil?
Choose a cryptocurrency exchange that supports Cardano (ADA) trading. Binance is one of the best places to buy Cardano in Brazil.
Where to buy Cardano in the US?
Choose a cryptocurrency exchange that supports Cardano (ADA) trading. Coinbase is one of the best places to buy Cardano in the US.