How to Buy Cardano (ADA): A Beginner’s Guide in Simple Steps

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Cardano (ADA) was introduced in 2017 by Charles Hoskinson, one of the co-founders of Ethereum, as a proof-of-stake blockchain. To determine whether it’s worth buying Cardano, it’s important to understand this relationship, as Ethereum was originally envisioned as a more scalable and environmentally friendly PoS blockchain compared to Bitcoin’s energy-intensive proof-of-work.

Only recently has the Ethereum network taken steps to transition to PoS. Hoskinson wasn’t willing to wait that long, making Cardano not only a PoS blockchain from the start but also introducing a practice where every change to the blockchain must first undergo a rigorous academic review process. This has made Cardano one of the most robust and advanced PoS blockchains available.

What You’ll Learn in This Guide

Should You Buy Cardano Now?

Although Cardano’s native token, ADA—named after the mathematician Ada Lovelace—experienced a price surge in January 2018, its price movements remained largely unchanged until January 2021.

Since its launch, Cardano has implemented several major upgrades that enhance its value proposition. One of these is the Shelley upgrade in 2020, which aimed to make the blockchain the most decentralized among all PoS alternatives. Additionally, Cardano is set to integrate smart contracts with the Alonzo upgrade, positioning it as a competitor to Ethereum in decentralized finance infrastructure.

Besides these important upgrades that provide more utility and value, Cardano was also listed on Coinbase Pro in March. This caused the price of the Cardano coin to reach a new all-time high of $1.60. It also propelled the ambitious blockchain to the 7th rank among all cryptocurrencies, with a market capitalization of $51.27 billion.

Combined with the upcoming Alonzo upgrade, it is likely that the price of the ADA token will continue to rise. Also note that ADA holders can vote on important changes to the network.

Are Cardano’s Fundamentals Strong Enough to Push ADA to $10?

When evaluating a token’s value, three main factors should be considered:

Fortunately for ADA, these critical value elements check out positively. The token supply is capped at 45 billion ADA, making it a deflationary cryptocurrency. Of this maximum supply, approximately 31.9 billion are currently in circulation. A large portion of ADA coins were distributed to IOHK (2.5 billion)—Hoskinson’s blockchain research organization—Emurgo (2.1 billion)—Cardano’s founding investor—and 648 million to the non-profit Cardano Foundation.

Since Cardano has always been about implementing the best available blockchain research, it is approximately 100 times faster than Ethereum. The Cardano network employs validators and delegators instead of miners to secure the network. This means Cardano is ahead of the game and doesn’t have to worry about older compatibility issues.

For the same reason, Cardano has yet to implement smart contract programmability, which made Ethereum the second-largest crypto despite its PoW mechanism. Additionally, Cardano has a relatively small developer pool compared to Ethereum. These are the key factors that restrained its growth until recently.

Where Can You Buy Cardano (ADA)?

At the time of writing, you can buy Cardano at some of the world’s most popular crypto exchanges:

Among these, StormGain offers something others don’t—cloud mining—so we’ll focus on this crypto platform, which has also remained free of hacks so far. Something that can’t be said for other exchanges. Follow the steps below to buy Cardano (ADA) on StormGain.

Where Is the Best Place to Store Cardano (ADA)?

Wondering where you can store your Cardano (ADA) most securely? Choosing the right wallet is crucial for the safety of your cryptocurrencies. 👉 Learn more about secure storage options for your assets.

How to Buy Cardano on StormGain: Step-by-Step

As with any brokerage, a StormGain account serves as a cloud crypto wallet that you can access from any internet-connected device. Therefore, the first step is to open a StormGain account.

Step 1 – Create a StormGain Account

Go to StormGain.com and click on the green “Get Started” button.

A new window will open, and you’ll need to enter some information—email, phone number, and password. If you already use a dedicated password manager, you can generate a strong password and store it in an encrypted vault.

Depending on your country’s phone code and current location, the checkbox “I confirm that I am not a US citizen” may be pre-selected. If not, remember to uncheck it if applicable.

Once you’ve filled in the information, the “Next” button will turn bright green. Click it to create your StormGain account. This opens a new window asking if you want to use a demo account to practice trading or set up a real account right away to buy Cardano. Click “Continue to real account.”

Step 2 – Deposit Funds

To buy Cardano, you first need to deposit funds. Click on the “Deposit” button in the top-right corner.

This initiates a KYC (Know Your Customer) procedure. The first step is to confirm both the email address and phone number you provided during registration.

After clicking the “Start” button, StormGain will send an SMS confirmation code to your phone. Similarly, another confirmation code will be sent to your email. Enter both codes into the designated text fields.

Once you click the link to confirm your email, your account details will be verified, allowing you to proceed with the deposit.

Step 3 – Fund Your StormGain Wallet

There’s one final step to complete your deposit—linking your debit or credit card to your StormGain account.

All this information is displayed on your debit/credit card. After copying the details into the fields, click on the amount you wish to deposit from your bank account—$100, $250, or $500. With the USDT deposit, you can now proceed to buy ADA coins. Of course, the exchange is done in ADA/USDT pairs, not ADA/USD. Stablecoins like USDT—backed by USD fiat currency—serve as a bridge between the crypto world and traditional finance. Therefore, they have equivalent value and near-zero volatility.

Final Step – Buying Any Crypto Token with USDT

If you have 100 USDT in your StormGain wallet, simply click on the lower-left corner of the screen to buy ADA at the current market price. Now enter the amount of USDT for which you want to buy Cardano.

This completes your Cardano (ADA) buying experience on StormGain. As you can see, all essential tools are available at a glance—especially order books, charts, and indicators.

When Is the Right Time to Buy ADA?

Order books show market depth by listing how many are willing to buy and how many are willing to sell. This, in turn, indicates when you should enter the market. A candlestick chart is an excellent tool for this purpose.

In this guide, you’ll find hints on how to read different charts and use tools. The green candlestick in the image shows you that the ADA price is in a bullish zone after rising above the previous candle’s closing price. Clearly, you want to buy the dip. Chart patterns help you find the perfect entry point.

Did You Know You Can Also Earn with Cardano in Other Ways?

Cardano staking is a method that allows owners of Cardano cryptocurrency (ADA) to earn passive income by delegating your ADA coins to a staking pool or operating your own pool.

By staking, you support Cardano’s proof-of-stake (PoS) consensus system, which secures the network’s transaction history and adds new blocks. In return for participation, stakers receive staking rewards in the form of additional ADA coins. The staking system is accessible not only to large investors but also to small investors, and it is a popular way to participate in the development of the Cardano network while upgrading your crypto portfolio.

The Future of ADA

It’s important to note that price forecasts for cryptocurrencies like Cardano (ADA) are speculative and depend on a variety of factors, including market sentiment, technological developments, and macroeconomic trends. However, if you want to know more, we have a detailed ADA price forecast for you.

Frequently Asked Questions

What is Cardano (ADA)?
Cardano is a proof-of-stake blockchain platform founded by Charles Hoskinson, one of Ethereum's co-founders. Its native cryptocurrency, ADA, is used for transactions, governance, and staking within the network.

How do I store my ADA tokens safely?
You can store ADA in a variety of wallets, including hardware wallets like Ledger, software wallets like Daedalus or Yoroi, and reputable exchange wallets. Always enable two-factor authentication and keep your private keys secure.

Can I earn passive income with Cardano?
Yes, you can earn rewards by staking your ADA tokens in a delegated staking pool or by running your own stake pool. This helps secure the network and generates additional ADA over time.

What makes Cardano different from Ethereum?
Cardano uses a proof-of-stake consensus mechanism from the start, emphasizing peer-reviewed research and a methodical upgrade process. It aims to offer greater scalability, sustainability, and interoperability compared to Ethereum’s initial proof-of-work model.

Is Cardano a good investment?
Like any cryptocurrency, investing in Cardano carries risks. However, its strong fundamentals, ongoing development, and growing ecosystem make it a popular choice among investors seeking exposure to blockchain innovation.

How can I stay updated on Cardano developments?
Follow official Cardano channels, including the Cardano Foundation, IOHK, and Emurgo. Community forums, social media, and crypto news platforms are also great resources for updates.

Conclusion

Millions of people deeply regret not buying BTC when Bitcoin was under $100 or even under $10,000. At that time, however, buying crypto was a complicated affair. Thanks to efforts by platforms like StormGain to make the experience as smooth as possible, there’s no excuse to miss out this time.

Besides Cardano (ADA) as a deflationary cryptocurrency with the prospect of smart contracts, you should also take a look at privacy coins like Monero (XMR). Given the social climate of increased surveillance, their value is also likely to increase significantly.

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